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Building Automation System Market worth US$148.6 billion by 2027, at CAGR of 11.4%

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Building Automation System Market worth US$148.6 billion by 2027, at CAGR of 11.4%

June 01
23:23 2022
Building Automation System Market worth US$148.6 billion by 2027, at CAGR of 11.4%
Building Automation System Market
The Building Automation System Market is expected to reach USD 148.6 billion by 2027 from USD 86.8 billion in 2022, at a CAGR of 11.4% from 2022 to 2027.

According to a research report Building Automation System Market by Offering (Facility Management Systems, Security & Access Controls, Fire Protection Systems, BEM Software, BAS Services), Communication Technology (Wireless, Wired), Application and Region – Global Forecast to 2027″ published by MarketsandMarkets, the building automation system market is projected to reach USD 148.6 billion by 2027 from USD 86.8 billion in 2022; it is expected to grow at a CAGR of 11.4% from 2022 to 2027. Building automation systems are used to automate and control heating, ventilation, and air-conditioning systems; lighting systems; and other systems installed in buildings to increase the comfort, safety, security, and convenience of occupants and make buildings energy efficient.

• Informational PDF Brochure :- https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=408

Even a piassavas design intended to consume no net energy whatsoever will typically require a BAS to manage heat capture, shading and venting, and scheduling device use. Asia Pacific is expected to grow at highest CAGR during the forecast period. Stringent regulations with respect to energy efficiency and various initiatives undertaken in countries such as China and India for the same and high economic growth and surge in construction and industrial activities in various countries in the region are some of the driving factors for the growth of building automation system market in Asia Pacific region.

Browse 224 market data Tables and 67 Figures spread through 305 Pages and in-depth TOC on “Building Automation System Market by Technology (Wireless, Wired), Application and Region – Global Forecast to 2027″View detailed Table of Content herehttps://www.marketsandmarkets.com/Market-Reports/building-automation-control-systems-market-408.html

Building Automation System Market

In application type, the industrial application segment is expected to grow at highest CAGR of the building automation system market during the forecast period

The industrial application segment is projected to grow at the highest CAGR during the forecast period. Automation of facility management systems, such as HVAC and lighting control systems, in the industrial sector is fueling the demand for building automation systems used in industrial applications. Automation can efficiently help in reducing energy expenditure, which is an important factor in cost reduction in manufacturing and production facilities. Decrease in capital expenditure, operational costs, and energy expenditure can increase profitability.

This can be achieved by automating different processes with the help of facility management systems as well as other building automation systems. Various countries with proactive manufacturing bases, such as China, Japan, the US, Germany, and India, are utilizing building automation systems in order to carry out energy-efficient and safe production and manufacturing processes. These factors are expected to drive the demand for building automation systems in industrial and manufacturing facilities.

The building automation system market in APAC is projected to have the highest growth during the forecast period

Asia Pacific is expected to account for the largest share of the building automation system market during the forecast period. The rapid growth of the construction industry in emerging economies such as China and India and the government initiatives for energy conservation have contributed to the growth of the building automation system market in the region. The consumers in this region are actively deploying building automation systems in residential and commercial areas owing to improvements in economic conditions. Moreover, increasing construction activities in China play a key role in driving the growth of the building automation system market in Asia Pacific.

The country has been undertaking a huge amount of construction projects to become the base of its modern urban landscape. Different construction projects undertaken in Q3 of 2021 include third west-east gas pipeline middle section natural gas pipeline, Liuzhou-Wuzhou Railway Line, Zhangzhou Development Zone Shuangyu Island Secondary Development, and Zengcheng-Foshan Expressway. The country is focusing on new building construction instead of adding technologies to the existing ones; hence, it is applying smart technology to architecture, using new forms of materials to improve sustainability.

Key Players of Building Automation System Market:

Honeywell International (US), Siemens AG (Germany), Johnson Control (US), Schneider Electric (France), Carrier (US), Robert Bosch (Germany), Legrand (France), Hubbell (US), ABB (Zurich), Trane Technologies (Ireland), Lutron Electronics (US), Creston Electronics (US), Hitachi (Japan), Delta Controls (Canada), Beckhoff Automation (Germany), Lennox International (US), General Electric (US), Distech Controls (Canada), Dialight PLC (UK), Cisco Systems (US), Rockwell Automation (US), Control4 (US), Signify (Philips Lighting) (Netherlands), Emerson Electric (US), and Leviton Manufacturing Company (US)

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