(MENAFN- GlobeNewsWire - Nasdaq) The building automation system market size is projected to reach US$ 167.40 billion by 2031 from US$ 76.75 billion in 2023 to register a CAGR of 10.2% during 2023–2031.

US & Canada, Aug. 29, 2024 (GLOBE NEWSWIRE) -- The growing construction activities and increasing demand for smart buildings are fueling the growth of Building Automation System Market Size, Growth, Demand, Scope, Trends, Analysis to 2031 . Building automation systems use sophisticated sensors, actuators, and networking technologies to provide centralized control and monitoring systems, such as lighting, HVAC, security, access control, and energy management. These technologies are designed to maximize building efficiency, lower energy usage, simplify facility management procedures, and guarantee adherence to regulations and standards. Advancements associated with IP-based devices, SaaS, integration of IoT, machine learning, and other technologies are expected to bring new trends in the building automation system market in the coming years.

Download PDF Brochure:

Market Overview:

Source: The Insight Partners' Analysis

A building automation system (BAS) enables an operator to access, control, and monitor all connected building systems via a single interface. BAS technology allows an owner to use networked electronic devices to obtain centralized management over the operations of their building. To maintain occupant comfort, the systems control ventilation, humidity, lighting, and temperature. Occupancy sensors and scheduling help minimize energy waste by modifying environmental systems while not in use. Additionally, it ensures that every system is running accurately at optimal efficiency. Operators are notified by sensors when preventative maintenance is necessary. The fire, access, and surveillance systems in the building are all integrated to provide security.

Key Features of Building Automation System:

Source: The Insight Partners' Analysis

Identify The Key Trends Affecting This Market - Download PDF

Key Market Findings:

• Geographically, the building automation system market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America. North America dominated the building automation system market in 2023.
• Increasing construction activity across the region and the economic growth of several states are among major factors expected to drive the regional market for building automation systems. Building automation systems provide energy efficiency by offering financial savings. Moreover, the development of smart cities in the US and Canada is expected to boost the market during the forecast period.
• Based on component, the building automation system market is segmented into hardware, software, and services. The hardware segment held the largest share of the building automation system market in 2023.
• By end user, the building automation system market is segmented into commercial, industrial, and residential. The commercial segment dominated the building automation system market in 2023.

Key Market Dynamics:

Source: The Insight Partners' Analysis

Integration of Wireless Sensor Network Technology and Wireless Protocols with Building Automation Systems:

Traditional building automation systems rely on wired infrastructure, limiting flexibility in sensor placement and system expansion. This limitation can be negated with sensors equipped with wireless sensor network (WSN) technology, allowing for easy reconfiguration and scalability. Wireless sensor networks eliminate the need for large cabling, reducing installation costs and labor. WSN technology enables control of building systems and real-time monitoring, optimizing energy usage based on occupancy and environmental conditions. According to the International Energy Agency reports, the building sector represented approximately a third of total energy system emissions, including building operations (26%) and embodied emissions (7%) for construction material production, in 2022.

Many wireless protocols and standards, including Z-Wave, 6LoWPAN, ZigBee, and EnOcean, offer innovation within the building automation system ecosystem. The Z-Wave protocol is a simple, wireless, interoperable, RF-based communication technology designed particularly for monitoring, controlling, and status-reading applications in light commercial and residential environments. The protocol allows companies to offer a wide range of home automation options to customers. Therefore, the integration of wireless sensor network technology and wireless protocols with building automation systems drives the building automation market.

Obtain Analysis of Key Geographic Markets - Download PDF

Growing Need for Sustainable Building Automation Solutions:

Sustainable buildings aim to minimize energy consumption and carbon emissions. BAS can monitor, control, and optimize HVAC, lighting, and other systems based on occupancy and environmental conditions. With an increasing shift toward renewable energy sources, such as solar and wind, BAS can intelligently manage the integration and utilization of these sources within building operations, ensuring optimal energy use and substantial cost savings. BAS provides real-time data on energy usage and environmental metrics, facilitating informed decision-making for energy conservation strategies and compliance with sustainability standards and regulations. Moreover, BAS can maintain indoor air quality, regulate temperature, and optimize natural lighting, contributing to enhanced occupant satisfaction and comfort. Also, sustainable BAS solutions result in cost savings, lower maintenance, and prolonged equipment life. The use of sustainable solutions aligns with global sustainability goals, improving energy efficiency, enhancing occupant comfort, and offering significant economic benefits.

Key Market Dynamics: Impact Analysis

Source: The Insight Partners' Analysis

Competitive Landscape/Government Regulation and Authorities:

Source: The Insight Partners' Analysis

Directly Purchase a Copy of this Report at:

Recent Market Developments:

• In February 2024, Johnson Controls, the global leader for smart, sustainable buildings, and landmark development-in partnership with Samford University, launched the first phase of a 15-year campus master plan to design, develop, operate, and maintain campus improvements at Samford University in Homewood, Alabama. The plan positions Samford University for growth, mission fulfillment, and long-term financial success.
• In January 2024, Honeywell and Analog Devices, Inc. announced at CES 2024 that they have entered into a Memorandum of Understanding to explore the digitization of commercial buildings by upgrading to digital connectivity technologies without replacing existing wiring, which will help reduce cost, waste, and downtime. The strategic alliance would bring this new technology to building management systems for the first time..
• In July 2023, Siemens (a leading global technology company) partnered with PRODEA Investments (a leading real estate investment company in Greece) to implement Building X (a Siemens digital building platform). The partnership seeks to accelerate PRODEA Investments' digital transformation and reduce the carbon footprint of existing and under development building assets across its real estate portfolio in Greece, as well as to offer added value services to its tenants. Building X, from Siemens Smart Infrastructure, is a scalable platform to digitalize, manage, and optimize building operations, allowing for enhanced user experience, increased performance, and improved sustainability. It is part of Siemens Xcelerator (the company's digital business platform) enabling easy, fast, and scaled digital transformation.

Key Company Offerings:

Sr. No	Companies	Products/Solutions/Services
1	Honeywell International Inc.	Honeywell Remote Building Manager Honeywell Optimizer Supervisor Cybersecurity Services Building Performance Services
2	Schneider Electric	PowerLogic PowerTag PowerLogic PM5000 Power Meters PowerLogic PM3000 Power Meters Acti 9 iEM3000
3	Johnson Controls	Metasys Facility Explorer EasyIO Verasys HVAC Controls Penn Refrigeration Controls OpenBlue Building Automation System services Others
4	ABB	ABB i-bus KNX ABB Cylon HVAC Building Automation Lighting & Emergency Lighting Door Entry and Access Control Systems ABB Ability Building Planner ABB Ability Digital Building Solutions
5	Siemens AG	Building automation and control

Source: The Insight Partners' Analysis

Technology Landscape:

Source: The Insight Partners' Analysis

Want More Information about Competitors and Market Players? Get PDF

• BAS is becoming more reliant on modern sensors and IoT. The latest sensor controls, automates, detects, and maintains a wide range of tasks, including HVAC and lighting settings.
• Building energy consumption and IoT systems are important to BAS contributions to sustainability and energy efficiency. Energy savings and decarbonization are the latest key business drivers of BAS that help with code and regulatory compliance.
• Artificial intelligence (AI) and machine learning (ML) now enable predictive maintenance in BAS. Advanced analytics identify and manage possible building system faults before they become severe concerns. This can reduce system and building damage and downtime while improving system performance.
• Circadian lighting systems often adjust the lighting spectrum and intensity throughout the day to improve occupant comfort and productivity. User lighting preferences are also frequently activated.
• Advanced sensors and IoT capabilities enable occupancy and asset tracking, as well as space management. The information can be utilized to switch systems down or off, which saves energy.
• The increased interconnectedness of building systems poses cybersecurity vulnerabilities. BAS is rapidly implementing more complex security measures to combat cyber threats.
• IoT is transforming fire safety in ways that go beyond traditional alarms and emergency lights. Advanced sensors, networked fire detectors, wireless communication, and artificial intelligence help find fires faster and more precisely. Alerts are more focused rather than across the facility.
• AI and ML capabilities allow smart cities to use data streams from across a metropolitan region to optimize traffic flow and inform first responder emergency responses. Improved whole-building data and controls enable greater city operation and responsiveness similar to the improved building sub-system data and controls.

Key Benefits of Building Automation System for End Users:

Source: The Insight Partners' Analysis

• A building automation system allows the remote monitoring and control of the building's systems.
• Building automation systems integrated with security systems improve safety. These systems are used for live monitoring of the building and provide alerts for suspicious activities.
• A building automation system improves the efficiency of a facility's systems by preventing failures and other issues, particularly with HVAC systems. When a BAS controls a building's systems, they tend to wear and tear less, lasting longer and requiring fewer repairs.
• A building automation system (BAS) automatically changes a building's temperature and lighting to maintain an optimal degree of comfort.

Require A Diverse Region or Sector? Customize Research to Suit Your Requirement

Related Report Titles:

• Smart Building Market Size, Demand, Scope
  
• Building Analytics Market Outlook, Growth, Trends, Analysis
  
• Nordic Building Automation and Control Market Size, Demand, Scope
  
• Building Integrated Photovoltaics Market Outlook, Growth, Trends, Analysis
  
• Building and Construction Fasteners Market Size, Demand, Scope
  
• Building Energy Simulation Software Market Outlook, Growth, Trends, Analysis
  
• In-building Wireless Market Size, Demand, Scope
  
• Facility Management Market Outlook, Growth, Trends, Analysis
  
• Facility Management Software Market Size, Demand, Scope
  
• Facility Management Solution Market Outlook, Growth, Trends, Analysis
  
• Fire Protection Systems Market Size, Demand, Scope
  
• Security and Surveillance Market Outlook, Growth, Trends, Analysis
  
• Access Control Market Growth, Size, Share, Trends, Key Players Analysis, and Forecast by 2031
  
• Cloud-based Access Control Systems Market Size and Forecasts (2021 - 2031)
  
• Access Control Reader Market Size and Forecasts (2021 - 2031)
  
• Network Access Control Market Growth Report, Size & Forecast-2030
  
• Security and Surveillance Radar Market Size, Demand, Scope
  

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: Ankit Mathur
E-mail: ...
Phone: +1-646-491-9876
Press Release:

MENAFN29082024004107003653ID1108615109