NEW
YORK, Dec. 2, 2022 /PRNewswire/ -- Polaris
Market Research recently published [115+ Pages] research report on
"Building Automation System Market Share, Size, Trends, Industry
Analysis Report, By Product (HVAC, Facility Management System,
Security and Surveillance System, Fire Protection System,
Lightening Control System); Network; End-Use; By Region; Segment
Forecast, 2022 – 2030" in its research database.
According to the research report, the global building automation
system market size & share was valued at USD 78.8 billion in 2021 and is expected to
gain USD 204.2 Billion by 2030,
growing at a CAGR of 11.3% during the forecast period.
What is Building Automation Systems? What is Expected Size
& Share of Building Automation System Market?
A building automation system is a set of systems designed to
control and automate various electric, electronic, and mechanical
systems building systems. It is mainly used to control the heating,
air conditioning (HVAC), and ventilation in a building, as well as
lighting and security, and other systems. Buildings controlled by a
BAS is often called as an intelligent building, smart building, or
smart home.
The building automation system provides benefits such as lower
operational costs, lower energy costs, more flexibility to adjust
workspaces, increased security, and enhanced scheduling. The system
makes buildings more energy-efficient and aids in controlling and
reducing control greenhouse-gas emissions. Growing demand for
advanced energy-efficient interventions and increasing
implementation of building automation systems are some of the
factors driving the market size.
Request Sample Copy of "Building Automation System Market"
Research Report @
https://www.polarismarketresearch.com/industry-analysis/building-automation-system-market/request-for-sample
Key Highlights of the Report
- Market value data for each segment and sub-segment
- Analysis by geography with consumption of the product/service
in the region
- Competitive landscape, which incorporates the extensive company
profiles
- The current as well as the future outlook of the industry with
respect to recent developments
- In-depth analysis of market perspectives through Porter's five
forces analysis
- Dynamics scenario, along with growth opportunities in
market
- Key strategic initiatives taken by major players
Growth Driving Factors
- Growing technological advancements pushing the market
growth
Building automation system is an intelligent system that
promises security for authorized users. It is majorly used in large
projects with complex systems to control and monitor building
system at low energy consumption. These prominent advantages of
this technology propel the building automation system (BAS) market
growth. According international energy agency (IEA), up to
80% of the total energy consumed in several areas is utilized for
building. The growing use of electric systems in buildings causes
higher energy use and CO2 emissions. Therefore, the rising focus on
reducing buildings' energy use and maintenance costs is primarily
fueling the demand for the building automation system market.
Moreover, BAS helps building managers handle operational
equipment issue in advance which ultimately lowers the overall cost
of building maintenance. These factors accelerate the building
automation system industry growth. In addition, changing consumers'
preference toward HVAC control systems is anticipated to create
lucrative opportunities in the building automation system
market.
Directly Purchase a copy of report with TOC @
https://www.polarismarketresearch.com/checkouts/18371
Recent Developments
In June 2022, Siemens & NVIDIA
made partnership to enable industry-based metaverse and to expand
the use of digital twin technologies, to help advance industrial
automation.
Some of the Top Market Players Are:
- Honeywell International
- Cisco Systems
- Trane Technologies
- Lutron Electronics
- Hubbell
- Beijer Electronics
- ABB
- Siemens
- Johnson Controls
- Schneider Electric
- General Electric
- Legrand
- Lutron Electronics
- Control4 Corporation
- Creston Electronics
- Delta Controls
- Lennox International
- Rockwell Automation
For Additional List of Players and Detail Information,
Download a Report PDF Brochure
Segmental Analysis
- The security and surveillance system segment is likely to
generate the fastest growth
Based on the product, the security and surveillance sector is
expected to witness the highest building automation system market
share over the assessment period. The solutions provide improved
safety and security for buildings. The increasing requirement for
higher security levels, access control, and activity monitoring is
fueling the need for security and surveillance systems. The surge
in the use of these systems in commercial sectors such as offices,
shops, schools, and hospitals is supporting the segment growth in
the BAS market.
- Wired Network dominated the market share in 2021
In terms of network, wired network accounted for the greatest
revenue share in the building automation system market in 2021 as
it is flexible and cost-effective. It can be easily deployed in the
existing building. Also, wireless networks are efficient in terms
of reliability and adapt different security algorithms used by
various users. Wireless networks can be utilized in industries like
agriculture, healthcare, and surveillance.
- The commercial segment is anticipated to witness a
significant revenue share
Based on end-use, the commercial category segment led the market
by accounting for the highest revenue share in 2021. Excessive
energy consumption can be reduced through a building automation
system that helps to control a building's appliances, heating,
cooling, and lighting, as well as enhance labor productivity and
energy efficiency. In addition, this system is increasingly used in
commercial buildings such as restaurants, office buildings,
supermarkets, libraries, museums, shopping malls, hospitals,
warehouses, colleges, schools, and nursing homes to minimize
buildings' maintenance costs. These factors are contributing to the
segment growth in the building automation system market.
Request for a Discount on this Report Before Purchase @
https://www.polarismarketresearch.com/industry-analysis/building-automation-system-market/request-for-discount-pricing
Building Automation System Market: Report Scope &
Analysis
Report
Attribute
|
Details
|
Revenue forecast in
2030
|
USD 204.2
Billion
|
Market size value in
2022
|
USD 86.8
Billion
|
Expected CAGR
Growth
|
11.3% from 2022 -
2030
|
Base Year
|
2021
|
Forecast
Year
|
2022 - 2030
|
Top Market
Players
|
Honeywell
International, Cisco Systems, Trane Technologies, Lutron
Electronics, Hubbell Inc, Beijer Electronics, ABB, Siemens AG,
Johnson Controls, Schneider Electric, General Electric, Legrand,
Lutron Electronics, Control4 Corporation, Creston Electronics,
Delta Controls, Lennox International and Rockwell
Automation.
|
Segments
Covered
|
By Product, By Network,
By End-Use, By Region
|
Customization
Options
|
Customized
purchase options are available to meet any research needs.
Explore customized purchase options
|
Geographic Overview
- The building automation system market in the APAC region is
projected to record significant growth
On the basis of regional scope, APAC is estimated to witness a
major CAGR during the foreseen period. This growth can be
attributed to the rising integration of the Internet of Things
(IoT) and the latest technologies in commercial buildings and the
industrial area. Due to the availability of reasonably priced land,
superior infrastructure, and a substantial labor pool in cities in
China and India, many investors are focusing on
industrial expansion.
Browse the Detail Report "Building Automation System Market
Share, Size, Trends, Industry Analysis Report, By Product (HVAC,
Facility Management System, Security and Surveillance System, Fire
Protection System, Lightening Control System); Network; End-Use; By
Region; Segment Forecast, 2022 – 2030" with in-depth TOC:
https://www.polarismarketresearch.com/industry-analysis/building-automation-system-market
For Additional Information OR Media Enquiry, Please Mail At:
sales@polarismarketresearch.com
Polaris Market Research has segmented the building automation
system market report based on product, network, end-use, and
region:
By Product Outlook
- HVAC
- Facility Management System
- Security and Surveillance System
- Fire Protection System
- Lightening Control System
By Network Outlook
By End Use Outlook
- Commercial
- Industrial
- Residential
By Region Outlook
- North America (U.S.,
Canada)
- Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
- Asia Pacific (Japan, China,
India, Malaysia, Indonesia, South
Korea)
- Latin America (Brazil, Mexico, Argentina)
- Middle East & Africa (Saudi
Arabia, UAE, Israel,
South Africa)
About Polaris Market Research
Polaris Market Research is a global market research and
consulting company. The company specializes in providing
exceptional market intelligence and in-depth business research
services for PMR's clientele spread across different
enterprises. We at Polaris are obliged to serve PMR's diverse
customer base present across the industries of healthcare,
technology, semi-conductors and chemicals among various other
industries present around the world. We strive to provide PMR's
customers with updated information on innovative technologies,
high growth markets, emerging business environments and latest
business-centric applications, thereby helping them always to make
informed decisions and leverage new opportunities. Adept with
a highly competent, experienced and extremely qualified
team of experts comprising SMEs, analysts and consultants, we
at Polaris endeavor to deliver value-added business solutions
to PMR's customers.
Contact:
Likhil G
30 Wall Street
8th Floor,
New York City, NY 10005,
United States
Phone: +1-929 297-9727
Email: sales@polarismarketresearch.com
Web: https://www.polarismarketresearch.com
Follow US: LinkedIn | twitter
Logo:
https://mma.prnewswire.com/media/1316207/Polaris_Market_Research_Logo.jpg
View original
content:https://www.prnewswire.com/news-releases/global-building-automation-system-market-size--share-value-estimated-to-touch-usd-204-2-billion-by-2030--with-11-3-cagr-growth-polaris-market-research-301692436.html
SOURCE Polaris Market Research