Building Automation System Market Report 2022: Share to Reach USD 175 Billion by 2028 with 12% CAGR

Growing requirement for energy-efficient facilities with enhanced security systems is driving the demand for building automation systems.

NEW YORK, UNITED STATES, October 28, 2022 /EINPresswire.com/ -- A building controlled by automation is often referred to as an intelligent building or a smart building. The demand for various systems, such as security & access control units, fire protection, facility management, and HVAC control, is rising to make building more connected and automated. With the growing scope of network integration worldwide, the inclination toward BAS will continue to propel. In a smart building, network integration communication within the mentioned systems becomes easy and quick. For instance, use of the Internet of Buildings can facilitate individuals and buildings to communicate to each other in real-time. Moreover, the emergence of virtual smart buildings is expected to continue playing a vital role in the construction industry. The use of virtual smart buildings will help in replacing outdated BAS installed in small and mid-size buildings.

Johnson Controls, Schneider Electric SE, Robert Bosch GmbH, Siemens AG, and Honeywell International are the key market players profiled in the study. Several other major companies were also studied and analyzed for this research study to get a holistic view of the building automation system market and its ecosystem.

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The deployment of the below-mentioned technologies will increase and enhance space utilization and would also accelerate the adoption of building automation systems:
• Electronic access control and video surveillance
• Occupancy detectors and people counters
• Building systems software overlay

In addition to the above mentioned factors, the demand for energy-efficient solutions is increasing. Control functions and building automation would help promote higher energy efficiency in buildings, save building operating costs, and lower carbon emissions. Advanced technologies, such as IoT, can help in accessing real-time monitoring of water, gas meters, and electricity. Also, access to real-time sub-metering data can bring focus on inefficiencies in the building. Therefore, the integration of advanced technologies is expected to boost the scope of building automation systems soon, propelling the building automation system market.

Report Scope:
Market Size Value in- US$ 70 Billion in 2021
Market Size Value by- US$ 175 Billion by 2028
Growth rate- CAGR of 12% from 2022 to 2028
Forecast Period- 2022-2028
Base Year- 2021
No. of Pages- 150
Historical data available- Yes
Segments covered- Component, Application, Communication Technology, and Geography
Regional scope- North America; Europe; Asia Pacific; Latin America; MEA
Country scope- US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Report coverage- Revenue forecast, company ranking, competitive landscape, growth factors, and trends

IMPACT OF COVID-19 PANDEMIC
The COVID-19 onset has positively impacted the demand for building automation systems. Building analytics is a powerful tool to support building owners in boosting buildings safely and efficiently during the pandemic and the recovery phase. Existing building analytics platforms improved, and the focus on compliance reporting and investment in sensors, such as motion detectors, people counting cameras, and indoor air quality sensors, increased during the pandemic. To facilitate proper communication for managing the pandemic crisis, the demand for automated & connected systems, including safety & security control and access control, was boosted.

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MARKET DYNAMICS
Key factors attributing to the growth of BAS include assistance in keeping building climate within a specified range and light rooms based on an occupancy schedule. The system also monitors performance and device failures in other connected building automation systems while notifying malfunction alarms. As these systems help reduce the energy and maintenance costs of a building, their acceptance within residential and commercial sectors is high and continue to increase.

The growing requirement for energy-efficient facilities with enhanced security systems in residential and commercial buildings is another foremost factor driving the demand for building automation systems. Besides the factors mentioned above, the advent of wireless communication technologies is lowering the complexity and cost of installing BAS in the existing building. All these factors are creating the need for BAS at a massive scale, therefore contributing toward the growth of the building automation system market

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