The global building automation system market size to grow from $70 Billion in 2021 to $175 Billion by 2028; is expected to reach at a CAGR of 12% between 2022 and 2028
New York, Jan. 27, 2023 (GLOBE NEWSWIRE) -- According to The Insight Partners, “ Building Automation System Market Share, Size, Growth Trends to 2028- COVID-19 Impact and Global Analysis – By Component (Hardware, Software, and Services), Application (Residential, Commercial, and Industrial), Communication Technology (Wireless Technologies and Wired Technologies), and Geography”; the global building automation system market growth is fuelled by growing requirement for energy-efficient facilities with enhanced security systems in residential and commercial buildings, advent of wireless communication technologies and integration of advanced technologies such, IoT and Predictive Analytics.
Get Sample PDF at https://www.theinsightpartners.com/sample/TIPRE00004033
Global Building Automation System Market: Competitive Landscape and Key Developments
ABB Ltd.; Siemens AG; Honeywell International Inc.; Hitachi, Ltd.; Hubbell; Ingersoll-Rand plc; Johnson Controls; Lennox International; Robert Bosch GmbH; and Schneider Electric SE among the key players operating in the building automation system market. These companies have a widespread presence worldwide, which provides lucrative opportunities to serve a large number of customers and expand the market.
Global Building Automation System Market – Report Scope:
| Market Size Value in | USD 70 Billion in 2021 |
| Market Size Value by | USD 175 Billion by 2028 |
| Growth rate | CAGR of 12% from 2022 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2021 |
| No. of Pages | 150 |
| Historical data available | Yes |
| Segments covered | Component, Application, Communication Technology, and Geography |
| Regional scope | North America, Europe, Asia Pacific, Middle East & Africa, South & Central America |
| Country scope | US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Inquiry Before Purchase: https://www.theinsightpartners.com/inquiry/TIPRE00004033
Global Building Automation System Market: Key Insights
Building Automation Systems (BAS) are used to control and monitor various building systems such as HVAC, lighting, security, and energy management. These systems help to improve energy efficiency, reduce operating costs, and enhance comfort levels within a building.
The global Building Automation Systems market is expected to grow significantly in the coming years due to increasing demand for energy-efficient buildings and the need to comply with government regulations on energy conservation. The market is also driven by advancements in technology such as the Internet of Things (IoT) and the integration of smart devices into building systems. However, the high cost of installation and maintenance of building automation systems may act as a restraint for the market growth. Moreover, the lack of standardization in the building automation systems industry challenges market growth.
Overall, the building automation systems market presents significant opportunities for growth as the demand for energy-efficient buildings increases and technology continues to advance. The market is expected to grow in the coming years with the increasing adoption of building automation systems in residential and commercial buildings.
Speak to Research Expert: https://www.theinsightpartners.com/speak-to-analyst/TIPRE00004033
Increasing Need for Energy-Efficient and Secure Facilities in Residential and Commercial Buildings to Drive Global Building Automation System Market Growth:
The increasing need for energy-efficient and secure facilities in residential and commercial buildings is driving market growth in several ways. Firstly, as more and more people become aware of the environmental and financial benefits of energy-efficient buildings, there is a growing demand for such buildings. This is leading to an increase in the construction and renovation of residential and commercial buildings designed to be energy-efficient. Additionally, advances in technology and building materials are making it easier and more cost-effective to construct energy-efficient buildings.
Furthermore, the need for secure facilities in residential and commercial buildings is also driving the market growth. With the increasing number of security threats, both physical and cyber, there is a growing demand for buildings that are designed to be secure. This includes using advanced security systems, such as surveillance cameras, biometric authentication systems, and intrusion detection systems, as well as building materials designed to resist fire and other types of damage. As a result, the market for energy-efficient and secure facilities in residential and commercial buildings is expected to continue growing in the coming years.
Buy Premium Copy of Building Automation System Market Growth Report (2022-2028) at: https://www.theinsightpartners.com/buy/TIPRE00004033
Go through further research published by The Insight Partners:
Building Analytics Market - The global building analytics market size is expected to grow from US$ 6,181.4 million in 2018 to US$ 19,655.7 million in 2027 at a CAGR of 14.1% between 2019 and 2027.
Building Integrated Photovoltaics Market - The global building integrated photovoltaics market size is projected to reach US$ 13,023.97 million by 2028 from US$ 4,605.97 million in 2021; it is expected to grow at a CAGR of 16.0% from 2021 to 2028.
Building Thermal Insulation Market - Building thermal insulation is a technique that helps prevent heat loss or gain while building residential and commercial spaces.
Green Building Market - Green building comprises set of business solution such as products and services that aid in minimizing the carbon footprint of the overall building or reduce the harmful emission through adopting eco-friendly techniques and practices in building maintenance and operation.
Building Technologies Market - The building technology is entering a new era through the increased adoption of advanced technologies such as the Internet of Things (IoT), smart services, and software.
Building Insulation Market - Building Insulation defines installation of thermal resistance in buildings with an objective to reduce heat and saves cooling costs by helping in improving energy efficiency of air conditioners and prevent heat loss.
Building Information Modelling (BIM) Software Market - Building Information Modelling (BIM) is a digital demonstration of a construction project, which can be used by engineers, architects, and other construction professionals.
Smart Building Software Market - Smart building software contain a sophisticated control system that controls buildings operation such as ventilation, air conditioning, heating, lighting, and other systems, consisting of sensors, actuators, and microchips.
Building Panels Materials Market - Building panels are used in the construction of walls, verticals, and other structure to create a partition. These materials are typically made of materials such as concrete, plastic, metals, and wool. Insulated panels protect against fire beside providing insulation.
About Us:
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.
Contact Us:
If you have any queries about this report or if you would like further information, please contact us:
Contact Person: Sameer Joshi
E-mail:
sales@theinsightpartners.com
Phone
: +1-646-491-9876
Press Release
:
https://www.theinsightpartners.com/pr/building-automation-system-market
