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Delvens forecasts that the building automation system market will reach US$201.8 billion in 2030

According to a new report published by Delvens, titled, “Building Automation System Market, by Component (Hardware, Software), by Application (Industrial, Residential, Commercial), by Offerings (Facility Management Systems, Security and Access Controls, Fire Protection Systems, Building Energy Management Software, BAS Services, Others) and region (North America, Europe, Asia-Pacific, Middle East and Africa and South America)”, The global Building Automation System Market size was estimated at USD 86.5 billion in 2022 and is projected to reach USD 201.8 billion in 2030 at a CAGR of 11.2% during the forecast period 2023-2030.

The projected growth of the global building automation systems market is fuelled by rising security concerns and the increasing demand for comprehensive security and monitoring solutions. Among the various components of building automation, security and access controls hold the largest revenue share. These services encompass safety-critical features like fire and social alarm systems, as well as security-critical aspects such as intrusion alarms.

The successful installation, monitoring, and maintenance of building automation systems require the expertise of skilled professionals, whose availability can be challenging. Moreover, users often have concerns about the long-term returns on their investment in these systems, which can impact the demand for building automation solutions. Additionally, the management of numerous devices and applications with varying functionalities can lead to misunderstandings about the overall control and coordination of diverse operations. These factors may hinder market growth in the near future. However, they also serve as driving forces for the development and improvement of the building automation system market.

In the past, building automation systems operated independently on separate networks, which was neither cost-effective nor efficient for building operations. However, the integration of building automation solutions with traditional systems has become a more favorable approach. This integration not only enhances security measures but also brings additional benefits such as advanced administration, cost savings, improved communication across building management modules, and reduced incident response time. This trend is expected to continue throughout the forecast period, further driving the growth of the building automation system market.

The prominent players in the Building Automation System market are 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), Leviton Manufacturing Company (US), and Others.

North America to Dominate the Market

North America is the top player in the global market last year and is expected to continue leading in the future. The region’s construction projects and economic growth are set to drive market growth in the coming years. Consumers in North America are focused on energy efficiency and saving money, which they can achieve through building automation systems.

The proliferation of building automation systems across various settings such as office buildings, shopping malls, and public transportation hubs including train stations and airports is expected to significantly contribute to the expansion of the building automation and control system market. Lighting controls, commercial sectors, and security and access control systems are among the most widely utilised components in residential, corporate, and commercial domains. With mounting security apprehensions permeating all industries, security and access control systems have become indispensable across multiple industrial sectors. As a result, the increasing demand for efficient HVAC management, energy-efficient lighting control, and an enhanced quality of life is projected to propel the global market for building automation systems.

delvens.com

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