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SE21048372 |
Pages: 300 |
Aug 2022 |
Increasing demand for smart buildings is expected to be the primary driver of global building automation system market growth over the forecast period. The market for smart building automation systems is expected to grow because of increasing consumers' interest in smart buildings. To conserve energy and power, smart buildings are built using building automation system software. The smart building constructions are designed in such a way that they can adjust building activities such as ventilation, heating, air conditioning, and others automatically. Due to the numerous benefits of building automation systems, there is a rising demand for smart buildings, which is expected to drive the market throughout the forecast period.
Building automation systems are too costly for customers. As the software needed to operate building automation systems is expensive, SME and startups in the real estate sector cannot afford it. The cost element is expected to be the most constraining factor. Furthermore, the software is difficult to use, which is expected to limit the market growth throughout the projection period.
Increased financing from the government and stakeholders towards creating smart building automation system in cities is expected to create opportunities. Cities today require creative solutions to address long-term issues such as managing waste, traffic flow, achieving energy efficiency goals, reducing security breaches, and managing municipal surveillance as a result of rising urbanization. In order to address the long-term issues brought on by escalating urbanization, governments in developing nations, notably China and India, are concentrating on creating smart cities through significant government and stakeholder financing.
According to regional analysis, the Asia-Pacific building automation system market size accounted for $16,522.6 million in 2021 and is predicted to grow with a CAGR of 10.9% in the projected timeframe.
Building automation system market trend refers to the automated centralized management of a building's heating, air conditioning, lighting, ventilation, electrical, security system, access control, and other systems that are interconnected in the same system. Building management systems are another name for building automation systems. The primary goal of a building automation system market demand is to optimize system efficiency while also increasing safety.
The COVID-19 impact on building automation system market created multiple uncertainties, resulting in significant economic losses as different enterprises throughout the world came to a halt. As a result of supply chain disruptions and economic slowdowns in various nations, demand for building automation has eventually decreased. Due to the spread of the coronavirus, most building works were stopped. As automation systems are largely employed in the construction sector, the market suffered as a result of the halting of building activity. In addition, due to lockdowns, material shortages, and governmental reforms, the real estate market in several nations in North America, Asia-Pacific, and Europe suffered greatly. The pandemic has had a major effect on the real estate industry in the U.S., UK, Germany, China, Japan, and India. Due to the fact that these regions are the biggest consumers of building automation systems, this has had an impact on the market growth for these systems. For instance, in the construction business, some projects have been delayed or abandoned because of a lack of labor, raw supplies, and workers who are afraid of getting the COVID-19 as well as travel restrictions.
In April 2021, Siemens launched new version of the fire protection system, Cerberus FIT. Siemens strengthens its portfolio for the small to medium-sized building sector. A variety of small to medium-sized structures may now be covered using a simple and cost-effective solution. Cerberus FIT improves fire safety by increasing functionality and productivity for employees who work to safeguard buildings.
The smart buildings are designed in such a way that building activities such as ventilation, heating, air conditioning, and others. Due to the numerous benefits of building automation systems, there is a rising demand for smart buildings, which is expected to drive the market throughout the forecast period. Furthermore, rising demand for energy-efficient and environmentally friendly buildings is expected to boost the market during the forecast period. A Building Automation System (BAS) uses sensors and alarms to regulate the functions of a facility. It also captures data on the facility's power use, which may be evaluated for future modifications. Furthermore, in a dynamic method, the system assists the user in displaying precise data about energy utilized and time needed to complete the activity. The BAS assists in providing data regarding energy use, which is expected to increase the market throughout the forecast period.
The initial investment necessary for building automation system installation, along with protracted cost recovery periods, are important issues impeding BAS solution adoption. The initial installation cost is quite significant and may not be viable for small-scale buildings and retailers. Furthermore, implementation necessitates compatibility between software, hardware, networking devices, databases, and other components, which is a time-consuming and resource-intensive procedure. As a result, these issues are projected to limit the global building automation market growth in the near future. For customers, building automation solutions are highly pricey. The cost of the software required to run building automation systems is considerable, making it unaffordable for SME and startup real estate companies. The largest barrier is anticipated to be the financial aspect. Additionally, the software is difficult to use, which is expected to restrain market expansion during the projection period.
Increasing number of smart cities now in demand innovative solutions to long-term concerns such as trash management, traffic flow, attaining energy efficiency targets, preventing security breaches, and managing municipal surveillance as a result of increased urbanization. To solve the long-term difficulties caused by increasing urbanization, governments in countries, particularly China and India, are focusing on the development of smart cities with major government and stakeholder funding. Stakeholder funding widely frequented public venues as government offices, infrastructure, educational institutions, and prisons face security issues both internationally and locally. As a result, governments throughout the world, particularly in poor countries, are focusing money on efforts involving building automation in smart cities, such as video surveillance, access control, and fire prevention systems.
Based on component, the market has been divided into hardware and software. Among these, the hardware sub-segment accounted for the highest market share in 2021, whereas the software sub-segment is estimated to show the fastest growth during the forecast period.
Source: Research Dive Analysis
The hardware sub-type is anticipated to have a dominant market share and generate a revenue of $ 86,568.4 million by 2030, growing from $37,920.9 million in 2021. The usage of hardware in building automation systems is increasing, since hardware is a key component for establishing an automation system in a building, and this is expected to boost the sub-segment market throughout the forecast period.
The software sub-type is anticipated to show the fastest growth and generate a revenue of $108,295.7 million by 2030, increasing from $37,836.1 million in 2021. A piece of software that connects the building automation systems makes it easier to monitor and manage the systems that have been installed there. The sub-segment is expected to grow at a faster rate throughout the projected period due to rising software usage in BAS.
Based on application, the market has been divided into industrial, residential, and commercial. Among these, the commercial sub-segment accounted for the highest market share in 2021.
Source: Research Dive Analysis
The commercial sub-segment is anticipated to have a dominant market share and generate a revenue of $72,029.4 million by 2030, growing from $30,474.1 million in 2021. The commercial sector is anticipated to employ building automation systems more frequently for a variety of security purposes, such as monitoring, gathering proof of movement, and tracking other facts. This is expected to drive the sub-segment growth throughout the projected time. Commercial building automation is an automatic centralized control system that manages a building's lighting, HVAC, air conditioning, and other systems. This system is also known as a Building Automation System (BAS) or building management system.
Based on offerings, the market has been divided into facility management systems, security & access controls, fire protection systems, building energy management software, bas services, and others. Among these, the security & access controls sub-segment accounted for the highest market share in 2021.
Source: Research Dive Analysis
The security & access controls sub-segment is anticipated to have a dominant market share and generate a revenue of $36,304.6 million by 2030, growing from $15,823.7 million in 2021. Security and access control systems allow the administrator to grant access only to those who are permitted. Building automation systems with access control systems provide a method for selectively restricting the security and access control factor As a result, housing developers and enterprises are increasingly turning to door electronic access control systems and models. The classic deadbolt lock is losing favor in today's culture. As a result, individuals increasingly seek a ‘smart’ solution for granting and regulating people's entry into their domain. As a result, access control systems for doors have emerged as a solution.
The Building market was investigated across North America, Europe, Asia-Pacific, and LAMEA.
Source: Research Dive Analysis
The building automation system market analysis for the Asia-Pacific region is projected to witness fastest growth. The Asia-Pacific region market is predicted to generate a revenue of $16,522.6 million by 2030, with a CAGR of 10.9% in the estimated period.
Building automation systems are increasingly in demand in the region as a result of the rising usage of the Internet of Things (IoT) and cutting-edge lighting technologies in commercial buildings and the industrial sector. Cities in China and India are attracting investments in industrial development by providing the ideal combination of affordable land, adequate infrastructure, and a large labor pool. Building automation systems have been adopted more quickly in APAC as a result of strong economic growth, expanding infrastructure, and new construction. Building automation system demand in APAC has increased, which may be linked to the region's economic expansion as well as a rise in industrial and construction activity in the major Asian economies.
The building automation system market growth for the North America region is projected to witness rapid growth. The North America market is predicted to generate a revenue of $25,522.5 million by 2030, with a CAGR of 9.2% in the estimated period.
The building automation system is the system, application, and software used to keep the building automated and give authorized users security. It is typically used in sizable projects that include complex mechanical, HVAC, and electrical systems. It contributes to a decrease in the building's energy use. It helps prevent mishaps such as fire accidents and includes tools and services for disaster management. It is a distributed control system used to handle electronic equipment intended to watch over and manage a building's systems. Building automation system sales in North America are anticipated to be driven by the rising popularity of IoT-based solutions. The high cost of building automation system maintenance is the key factor that could have a negative effect on the market for building automation systems in North America.
Agreement and investment are common strategies followed by major market players. For instance, in March 2021, Honeywell, company was in list of the world's most innovative firms compiled by rapid company. (MIC) for 2021 firm was ranked among the top five enterprises. Honeywell was picked for its quantum computing advancements as well as its speedy development of new products to assist clients in dealing with the repercussions of the worldwide pandemic.
Source: Research Dive Analysis
Some of the leading building automation system market players are Honeywell International Inc., Robert Bosch GmbH, Johnson Controls, Mitsubishi Electric Corporation, ABB, Schneider Electric, Siemens, General electric, Hubbell, and United Technologies Corporation.
| Aspect | Particulars |
| Historical Market Estimations | 2020 |
| Base Year for Market Estimation | 2021 |
| Forecast Timeline for Market Projection | 2022-2030 |
| Geographical Scope | North America, Europe, Asia-Pacific, and LAMEA |
| Segmentation by Component |
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| Segmentation by Application |
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| Segmentation by Offerings |
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| Key Companies Profiled |
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1.Research Methodology
1.1.Desk Research
1.2.Real time insights and validation
1.3.Forecast model
1.4.Assumptions and forecast parameters
1.5.Market size estimation
1.5.1.Top-down approach
1.5.2.Bottom-up approach
2.Report Scope
2.1.Market definition
2.2.Key objectives of the study
2.3.Report overview
2.4.Market segmentation
2.5.Overview of the impact of COVID-19 on Global building automation system market
3.Executive Summary
4.Market Overview
4.1.Introduction
4.2.Growth impact forces
4.2.1.Drivers
4.2.2.Restraints
4.2.3.Opportunities
4.3.Market value chain analysis
4.3.1.List of raw material suppliers
4.3.2.List of manufacturers
4.3.3.List of distributors
4.4.Innovation & sustainability matrices
4.4.1.Technology matrix
4.4.2.Regulatory matrix
4.5.Porter’s five forces analysis
4.5.1.Bargaining power of suppliers
4.5.2.Bargaining power of consumers
4.5.3.Threat of substitutes
4.5.4.Threat of new entrants
4.5.5.Competitive rivalry intensity
4.6.PESTLE analysis
4.6.1.Political
4.6.2.Economical
4.6.3.Social
4.6.4.Technological
4.6.5.Environmental
4.7.Impact of COVID-19 on building automation system market
4.7.1.Pre-covid market scenario
4.7.2.Post-covid market scenario
5.Building Automation System Market, by Component
5.1.Overview
5.1.1.Market size and forecast, by Component
5.2.Hardware
5.2.1.Key market trends, growth factors, and opportunities
5.2.2.Market size and forecast, by region, 2022-2030
5.2.3.Market share analysis, by country 2022 & 2030
5.3.Software
5.3.1.Key market trends, growth factors, and opportunities
5.3.2.Market size and forecast, by region, 2022-2030
5.3.3.Market share analysis, by country 2022 & 2030
5.4.Research Dive Exclusive Insights
5.4.1.Market attractiveness
5.4.2.Competition heatmap
6.Building Automation System Market, by Applications
6.1.Overview
6.1.1.Market size and forecast, by Applications
6.2.Industrial
6.2.1.Key market trends, growth factors, and opportunities
6.2.2.Market size and forecast, by region, 2022-2030
6.2.3.Market share analysis, by country 2022 & 2030
6.3.Residential
6.3.1.Key market trends, growth factors, and opportunities
6.3.2.Market size and forecast, by region, 2022-2030
6.3.3.Market share analysis, by country 2022 & 2030
6.4.Commercial
6.4.1.Key market trends, growth factors, and opportunities
6.4.2.Market size and forecast, by region, 2022-2030
6.4.3.Market share analysis, by country 2022 & 2030
6.5.Research Dive Exclusive Insights
6.5.1.Market attractiveness
6.5.2.Competition heatmap
7.Building Automation System Market, by Offerings
7.1.Overview
7.1.1.Market size and forecast, by Offerings
7.2.Facility Management Systems
7.2.1.Key market trends, growth factors, and opportunities
7.2.2.Market size and forecast, by region, 2022-2030
7.2.3.Market share analysis, by country 2022 & 2030
7.3.Security & Access Controls
7.3.1.Key market trends, growth factors, and opportunities
7.3.2.Market size and forecast, by region, 2022-2030
7.3.3.Market share analysis, by country 2022 & 2030
7.4.Fire Protection Systems
7.4.1.Key market trends, growth factors, and opportunities
7.4.2.Market size and forecast, by region, 2022-2030
7.4.3.Market share analysis, by country 2022 & 2030
7.5.Building Energy Management Software
7.5.1.Key market trends, growth factors, and opportunities
7.5.2.Market size and forecast, by region, 2022-2030
7.5.3.Market share analysis, by country 2022 & 2030
7.6.BAS Services
7.6.1.Key market trends, growth factors, and opportunities
7.6.2.Market size and forecast, by region, 2022-2030
7.6.3.Market share analysis, by country 2022 & 2030
7.7.Others
7.7.1.Key market trends, growth factors, and opportunities
7.7.2.Market size and forecast, by region, 2022-2030
7.7.3.Market share analysis, by country 2022 & 2030
7.8.Research Dive Exclusive Insights
7.8.1.Market attractiveness
7.8.2.Competition heatmap
8.Building Automation System Market, by Region
8.1.North America
8.1.1.U.S.
8.1.1.1.Market size analysis, by Component
8.1.1.2.Market size analysis, by Application
8.1.1.3.Market size analysis, by Offerings
8.1.2.Canada
8.1.2.1.Market size analysis, by Component
8.1.2.2.Market size analysis, by Application
8.1.2.3.Market size analysis, by Offerings
8.1.3.Mexico
8.1.3.1.Market size analysis, by Component
8.1.3.2.Market size analysis, by Application
8.1.3.3.Market size analysis, by Offerings
8.1.4.Research Dive Exclusive Insights
8.1.4.1.Market attractiveness
8.1.4.2.Competition heatmap
8.2.Europe
8.2.1.Germany
8.2.1.1.Market size analysis, by Component
8.2.1.2.Market size analysis, by Application
8.2.1.3.Market size analysis, by Offerings
8.2.2.UK
8.2.2.1.Market size analysis, by Component
8.2.2.2.Market size analysis, by Application
8.2.2.3.Market size analysis, by Offerings
8.2.3.France
8.2.3.1.Market size analysis, by Component
8.2.3.2.Market size analysis, by Application
8.2.3.3.Market size analysis, by Offerings
8.2.4.Spain
8.2.4.1.Market size analysis, by Component
8.2.4.2.Market size analysis, by Application
8.2.4.3.Market size analysis, by Offerings
8.2.5.Italy
8.2.5.1.Market size analysis, by Component
8.2.5.2.Market size analysis, by Application
8.2.5.3.Market size analysis, by Offerings
8.2.6.Rest of Europe
8.2.6.1.Market size analysis, by Component
8.2.6.2.Market size analysis, by Application
8.2.6.3.Market size analysis, by Offerings
8.2.7.Research Dive Exclusive Insights
8.2.7.1.Market attractiveness
8.2.7.2.Competition heatmap
8.3.Asia-Pacific
8.3.1.China
8.3.1.1.Market size analysis, by Component
8.3.1.2.Market size analysis, by Application
8.3.1.3.Market size analysis, by Offerings
8.3.2.Japan
8.3.2.1.Market size analysis, by Component
8.3.2.2.Market size analysis, by Application
8.3.2.3.Market size analysis, by Offerings
8.3.3.India
8.3.3.1.Market size analysis, by Component
8.3.3.2.Market size analysis, by Application
8.3.3.3.Market size analysis, by Offerings
8.3.4.Australia
8.3.4.1.Market size analysis, by Component
8.3.4.2.Market size analysis, by Application
8.3.4.3.Market size analysis, by Offerings
8.3.5.South Korea
8.3.5.1.Market size analysis, by Component
8.3.5.2.Market size analysis, by Application
8.3.5.3.Market size analysis, by Offerings
8.3.6.Rest of Asia-Pacific
8.3.6.1.Market size analysis, by Component
8.3.6.2.Market size analysis, by Application
8.3.6.3.Market size analysis, by Offerings
8.3.7.Research Dive Exclusive Insights
8.3.7.1.Market attractiveness
8.3.7.2.Competition heatmap
8.4.LAMEA
8.4.1.Brazil
8.4.1.1.Market size analysis, by Component
8.4.1.2.Market size analysis, by Application
8.4.1.3.Market size analysis, by Offerings
8.4.2.Saudi Arabia
8.4.2.1.Market size analysis, by Type
8.4.2.2.Market size analysis, by Application
8.4.2.3.Market size analysis, by Offerings
8.4.3.UAE
8.4.3.1.Market size analysis, by Component
8.4.3.2.Market size analysis, by Application
8.4.3.3.Market size analysis, by Offerings
8.4.4.South Africa
8.4.4.1.Market size analysis, by Component
8.4.4.2.Market size analysis, by Application
8.4.4.3.Market size analysis, by Offerings
8.4.5.Rest of LAMEA
8.4.5.1.Market size analysis, by Component
8.4.5.2.Market size analysis, by Application
8.4.5.3.Market size analysis, by Offerings
8.4.6.Research Dive Exclusive Insights
8.4.6.1.Market attractiveness
8.4.6.2.Competition heatmap
9.Competitive Landscape
9.1.Top winning strategies, 2021
9.1.1.By strategy
9.1.2.By year
9.2.Strategic overview
9.3.Market share analysis, 2021
10.Company Profiles
10.1.Honeywell International Inc.
10.1.1.Overview
10.1.2.Business segments
10.1.3.Product portfolio
10.1.4.Financial performance
10.1.5.Recent developments
10.1.6.SWOT analysis
10.2.Robert Bosch GmbH
10.2.1.Overview
10.2.2.Business segments
10.2.3.Product portfolio
10.2.4.Financial performance
10.2.5.Recent developments
10.2.6.SWOT analysis
10.3.Johnson Controls
10.3.1.Overview
10.3.2.Business segments
10.3.3.Product portfolio
10.3.4.Financial performance
10.3.5.Recent developments
10.3.6.SWOT analysis
10.4.Mitsubishi Electric Corporation
10.4.1.Overview
10.4.2.Business segments
10.4.3.Product portfolio
10.4.4.Financial performance
10.4.5.Recent developments
10.4.6.SWOT analysis
10.5.ABB
10.5.1.Overview
10.5.2.Business segments
10.5.3.Product portfolio
10.5.4.Financial performance
10.5.5.Recent developments
10.5.6.SWOT analysis
10.6.Schneider Electric
10.6.1.Overview
10.6.2.Business segments
10.6.3.Product portfolio
10.6.4.Financial performance
10.6.5.Recent developments
10.6.6.SWOT analysis
10.7.Siemens
10.7.1.Overview
10.7.2.Business segments
10.7.3.Product portfolio
10.7.4.Financial performance
10.7.5.Recent developments
10.7.6.SWOT analysis
10.8.General electric
10.8.1.Overview
10.8.2.Business segments
10.8.3.Product portfolio
10.8.4.Financial performance
10.8.5.Recent developments
10.8.6.SWOT analysis
10.9.Hubbell
10.9.1.Overview
10.9.2.Business segments
10.9.3.Product portfolio
10.9.4.Financial performance
10.9.5.Recent developments
10.9.6.SWOT analysis
10.10.United Technologies Corporation
10.10.1.Overview
10.10.2.Business segments
10.10.3.Product portfolio
10.10.4.Financial performance
10.10.5.Recent developments
10.10.6.SWOT analysis
11.Appendix
11.1.Parent & peer market analysis
11.2.Premium insights from industry experts
11.3.Related reports
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