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Rising adoption of automated security systems in buildings is a key factor driving market revenue growth
— Emergen Research
VANCOUVER, BC, CANADA, June 28, 2023/EINPresswire.com/ — The global Building Automation System (BAS) Market size is expected to reach USD 217.52 Billion in 2032 and register a steady revenue CAGR of 10.1% during the forecast period, according to latest analysis by Emergen Research. Recent technological advancements in BAS is a key factor driving market revenue growth. A BAS, also referred to as a building control system or building management system, is a system that controls several electric, electronic, and mechanical systems throughout a building. For instance, on 7 July 2022, SAUTER’s enhanced its product line with the introduction of a new generation of Internet of Things (IoT)-capable actuators, which allows for autonomous or semi-autonomous Heating, Ventilation, and Air Conditioning (HVAC) control. These actuators used in heating, ventilation, and room automation systems including advantages such as easy installation and commissioning, cloud connectivity with application library and remote access, and a smartphone app.
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In addition, increasing adoption of automated security systems in buildings is another factor driving market revenue growth. BAS increases control over a building’s multiple systems, including HVAC, electrical, and security. HVAC and electrical systems are run more efficiently with the assistance of a BAS, resulting in lower energy usage and utility costs. BAS not only automates a building’s systems via sensors and timers but also collects energy usage statistics. Moreover, BAS automatically adjusts the temperature and lighting in a facility to maintain a comfortable level, which is also expected to drive market revenue growth during the forecast period.
However, high installation costs, as well as the requirement for ongoing maintenance are key factors, which could restrain market revenue growth. Furthermore, many companies are providing financing alternatives for automation systems, making it easier than ever to get the company on board with automation, which could also restrain market revenue growth.
Based on the competitive landscape, the market report analyzes the key companies operating in the industry:
Mitsubishi Electric Corporation
General Electric
Schneider Electric
Siemens
Johnson Controls
Honeywell International Inc.
Bosch Limited
ABB
Hubbell
Cisco Systems, Inc.
Others
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Some Key Highlights From the Report
The security & access control segment accounted for largest market share in the global BAS market in 2022. This is due to increasing use of BAS, which include security and access control, to restrict admission to the building, ensuring that only authorized people are let in. BASs are important in the operation and management of buildings. These systems offer various advantages, including greater facility security, energy savings, increased comfort and safety and overall building system efficiency. These devices are programmed to identify potential safety hazards such as gas leaks or fires and take the necessary actions.
The wireless technology segment is expected to register steadily fast revenue growth rate in the global BAS market during the forecast period. Building automation benefits from IoT such as increased energy efficiency, improved building security, remote access and control, and cost savings. Sensors, smart devices, cloud computing, artificial intelligence, and advanced data analytics are key Internet of Things (IoT) technologies utilized in building automation, which in turn, is expected to drive revenue growth of this segment. Energy meters based on IoT are used to monitor the real power usage and other energy characteristics of the building’s critical assets and equipment.
The commercial segment is expected to account for significantly large revenue share in the global BAS market during the forecast period. This is because commercial automation control systems improve coordination between departments and personnel, resulting in enhanced efficiency and productivity. Smart building elements help to increase operating economies by lowering energy costs, optimizing building performance, increasing tenant comfort, and making building operations easier to manage. By monitoring and regulating all of a building\’s systems and equipment, commercial automation systems increase operating efficiencies. A commercial automation system provides a single point of control for the entire facility by integrating all of the building’s systems. For instance, video conferencing, climate control, conference room settings, motorized window coverings, lighting controls, and other features.
The North America market accounted for largest revenue share in the global BAS market in 2022. This is due to increasing adoption of automated security systems in residential and commercial buildings owing to its various advantages such as providing centralized control and lower total operating. Moreover, presence of key players in this region and increasing number of strategic initiatives are also expected to drive market revenue growth during the forecast period.
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For the purpose of this report, Emergen Research has segmented BAS market on the basis of offering, communication technology, application, and region:
Offering Outlook (Revenue, USD Billion; 2019–2032)
Facility Management Systems
Security & Access Control
Fire Protection Systems
BEM Software
BAS Services
Communication Outlook (Revenue, USD Billion; 2019–2032)
Wireless Technology
Wired Technology
Application Outlook (Revenue, USD Billion; 2019–2032)
Commercial
Residential
Industrial
Regional Outlook (Revenue, USD Billion, 2019–2032)
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia-Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Key Benefits of Buying the Global Building Automation System Report:
Comprehensive analysis of the changing competitive landscape
Assists in decision making processes for the businesses along with detailed strategic planning methodologies
The report offers an 8-year forecast and assessment of the Global Building Automation System Market
Helps in understanding the key product segments and their estimated growth rate
In-depth analysis of market drivers, restraints, trends, and opportunities
Comprehensive regional analysis of the Global Building Automation System Market
Extensive profiling of the key stakeholders of the business sphere
Detailed analysis of the factors influencing the growth of the Global Building Automation System Market
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