Global Building Automation System Industry was valued at USD 75 Billion in the year 2018. Global Building Automation System Industry is further estimated to grow at a CAGR of 10.5% from 2018 to 2025 to reach USD 133.7 Billion. The growth in automated security systems in buildings, development of wireless protocols and wireless sensor network technology for Building Automation System, and rapid penetration of IoT in building automation systems are the critical factors driving the growth of the Building Automation System Industry.
Global Building Automation System Industry Share by 2025
Building energy management software helps building administrators or homeowners to continuously screen and investigate how much electricity is utilized by a building. It does not just advise building administrators or owners of energy drifts but in addition, gives noteworthy data to energy saving. With the approach of innovation, Building Automation System makers are concentrating on creating easy to understand software for the administration of energy utilization in a building, which, in turn, driving the interest for building energy management software.
Industrial facilities include factories, production plants, distribution facilities, and other infrastructure buildings that support manufacturing and processing functions. The segment is designed to adopt smart building solutions to achieve electricity and cost savings, higher productivity, enhanced identity and access management, and optimized surveillance. Commercial buildings have their own set of requirements for different operational purposes. These buildings are equipped with highly sophisticated technologies, ranging from lifts and air-conditioning units to controlled ventilation systems, which contributes to high electricity utilization. Reduction in electricity expenditure is critical for a commercial building, as it directly contributes to the operational and capital expenditure of the company and can affect its profitability.
The Building Automation System Industry in APAC is expected to grow at the highest CAGR during the forecast period. The expected rise is attributed to the rapid growth of the construction industry in developing countries such as China and India and government initiatives toward electricity conservation have contributed to the growth of the Building Automation System Industry in APAC. Countries such as China and India have aggressively started developing smart cities. Building Automation System is acting as a key enabler in achieving these objectives by the respective countries.
Major Industry players in Building Automation System Industry are ABB, Honeywell Building Solutions, Siemens Building Tech, Schneider Systems& Services, Johnson Controls Building Efficiency, Legrand SA, United Technologies, KMC Controls, Distech Controls, Crestron and Other Company Profile is provided as per client requirement.
Building Automation System Industry Segmentation:
Building Automation System Industry Overview, By Communication Technology
Building Automation System Industry Overview, By Application
Building Automation System Industry Overview, By Offering
Building Automation System Industry Overview, by Region