Building Automation System Market

Building Automation System Market Size, Trends, Key Players, Industry Insights, Analysis and Forecast 2023-2028

IMARC Group, a leading market research company, has recently releases report titled “Building Automation System Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028″, The study provides a detailed analysis of the industry, including the global building automation system market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights:

How big is the building automation system market?

The global building automation system market size reached US$ 84.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 150.3 Billion by 2028, exhibiting a growth rate (CAGR) of 9.6% during 2023-2028.

What is Building Automation System?

A Building Automation System (BAS), also known as Building Management System (BMS), is a computer-based control system installed in buildings to manage and control the building’s mechanical and electrical equipment such as ventilation, lighting, power systems, fire systems, and security systems. The main goal of a BAS is to enhance occupant comfort, reduce energy consumption, and manage building operations effectively. BAS functions typically include automatic control of heating, ventilation, air conditioning (HVAC), and lighting systems, which constitute a significant part of a building’s energy consumption. By optimizing these systems’ efficiency, a BAS can significantly reduce energy costs and the building’s carbon footprint.

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What are the growth prospects and trends in the building automation system industry?

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  • Significant advancements in technology, particularly in the Internet of Things (IoT) and artificial intelligence (AI), are making BAS more effective and convenient which represents one of the key factors driving the growth of the market across the globe.
  • Modern BAS are remotely controlled and monitored through smartphones or computers, providing more flexibility to building managers. They also leverage AI to learn patterns, make predictions, and optimize operations, improving efficiency and comfort. The global drive towards energy efficiency is contributing to the growth of the market. Buildings consume a significant portion of the world’s energy, and with rising energy costs and increasing environmental awareness, energy-efficient solutions like BAS are gaining popularity.
  • The increasing focus on occupant comfort and productivity is fueling the growth of the market. BAS maintains optimal temperature, humidity, lighting, and air quality, creating a comfortable environment that is boosting occupant productivity and satisfaction.
  • The need for improved safety and security is also contributing to the growth of the market. Modern BAS integrates various security systems, such as access control, surveillance, and fire alarm systems, which enhance the safety and security of buildings and their occupants, thus creating a positive outlook for the market across the globe.

Who are the key players operating in the industry?

The report covers the major market players including:

  • ABB Ltd.
  • Convergint Technologies LLC
  • Distech Controls Inc. (Acuity Brands Inc.)
  • Hitachi Ltd.
  • Honeywell International Inc.
  • Johnson Controls
  • Microchip Technology Inc.
  • Mitsubishi Electric Corporation
  • Robert Bosch GmbH
  • Rockwell Automation Inc.
  • Schneider Electric SE
  • Siemens AG
  • Trane Technologies plc

What is included in market segmentation?

The report has segmented the market into the following categories:

Breakup by Offering Insights:

  • Security and Access Controls
  • Facility Management Systems
  • Fire Protection Systems
  • Building Energy Management Software
  • Building Automation System Services
  • Others

Breakup by Communication Technology:

  • Wireless
  • Wired

Breakup by Application:

  • Commercial
  • Residential
  • Industrial

Market Breakup by Region:

  • North America (United States, Canada)
  • Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
  • Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
  • Latin America (Brazil, Mexico, Others)
  • Middle East and Africa

Browse full report with TOC & List of Figure: https://www.imarcgroup.com/building-automation-system-market

If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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