The global building automation & control systems (BACS) market is anticipated to reach USD 168.93 billion by 2028, at a CAGR of 12.72% from 2021 to 2028.
As per the report published by The Brainy Insights, the global building automation & control systems (BACS) market is anticipated to grow from USD 59.96 billion in 2020 to USD 168.93 billion by 2028, at a CAGR of 12.72% during the forecast period 2021-2028. The North America region emerged as the largest market for the building automation & control systems (BACS) market with around 38.23% share of the market revenue in 2020. In buildings, the need for automation and control systems was attributed to a rise in renovation compared to new construction in the US. The desire to get treated and clean air often fuels market growth as pollution increases.
Some of the major companies in the global building automation & control systems (BACS) market are Automated Logic, Bosch Sicherheits systeme GmbH, Beckhoff Automation, Delta Controls, CONTROL4, Distech Controls, Emerson Electric, Dwyer, Honeywell, Evon Technologies, Itron and Johnson Controls International among others.
The type segment is divided into lighting management, environmental control and building management software. The building management software segment is anticipated to grow at the highest CAGR of around 14.2% over the forecast period. This is because it is a computer-based control system mounted in buildings that controls and monitor the building’s automatic and electrical equipment such as freshening, ventilation, power systems, fire systems, and security systems. The communication technology segment includes wired and wireless communication technology. The wireless communication technology segment is anticipated to grow at the highest CAGR over the forecast period because the use of wireless communication technology enhances the efficiency of automation and control systems by enabling ease of operation and control of the system.
The application segment includes IT/ITEs, residential, commercial, hospitality, industrial, retail and hospital. The commercial segment accounted for the largest market share of around 26.15% in 2020. It is attributed to the expanded installation of building automation and control systems in major shopping malls, office buildings, and public transport locations, such as airports and railway stations, leading to the growth of the BACS market for industrial applications.
The global building automation & control systems (BACS) market is rising at a steady pace, owing to the increasing emphasis on environmental friendly and energy-efficient buildings. System monitoring and control technology allows optimizing HVAC and lighting systems, saving 5-30 per cent of the building’s overall energy use. Thus, it enhances market growth. The perception of BACS’ high cost and lack of understanding of its advantages in terms of long-term cost savings can, however, hamper the global acceptance and growth of the BACS market.