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Building Automation and Control Systems Market size is estimated to grow by USD 31,125.12 million from 2023 to 2027 and the market’s growth momentum will accelerate at a CAGR of 9%. The growth of the market depends on several factors, including the demand for energy efficiency, the demand for comfort and foolproof security systems, and the customization of automation and building control systems.
This report extensively covers market segmentation by End-user (commercial buildings, residential buildings, government buildings, and other buildings), Type (integration and services), and Geography (Europe, North America, APAC, Middle East and Africa, and South America). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Building Automation and Control Systems Market
The innovative features and user interfaces are notably driving the market growth, although factors such as growing demand for (mention from aura data) the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Key Driver
Significant Trend
Major Challenge
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Buildinglogix - The company offers automation solutions for the integration of building facilities. Also, under this segment, the company offers services such as master systems integrator, building automation systems, hardware distribution, and enterprise system integration.
Abb.com - The company offers energy-efficient, security, and control system for homes and buildings. Also under this segment, the company manufactures and sells electrical products and solutions which are designed to provide safe, smart, and sustainable electrical flow from the substation to the socket.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
The report offers, clients a deeper understanding of the market and its players through a combined qualitative and quantitative analysis of the vendors. The analysis classifies vendors into categories based on their business approach, including pure-play, category-focused, industry-focused, and diversified. Vendors are specially categorized into dominant, leading, strong, tentative, and weak to understand the dos and don’ts of business which in turn can help a client make the best decision.
The market share growth by the commercial buildings segment will be significant during the forecast period. The commercial buildings segment shows a gradual increase in the market share of USD 17,396.52 million in 2017 and continue to grow by 2021. The need to increase energy efficiency in emerging economies is expected to encourage many commercial buildings in the region to implement BACS. Government regulations and growing awareness about the importance of energy efficiency are other reasons for the growth in this segment. Stage-1 automation solutions are being implemented in commercial buildings in most countries to address compliance with government regulations. These automation solutions increase the overall operational efficiency of the buildings.
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In addition to the traditional control systems, other technological advances in touchscreen user interfaces and wireless connectivity have helped in making these solutions operate more effectively. Many vendors offer customized solutions to commercial end-users at very competitive prices to increase their market shares and expand their customer base. As commercial buildings and offices are the major energy consumers in comparison to other types of buildings, it will lead to an increased demand for the deployment of automation solutions during the forecast period.
Europe is projected to contribute 31% of market growth by 2023. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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The revised Energy Performance of Buildings Directive (Directive (EU) 2018/844) directed that all EU member states would be allowed time until March 10, 2020, to transpose the directive into national legislation. This includes innovative approaches, which could potentially address market failures that are currently preventing the benefits of BACS from being fully realized. This would also help achieve huge energy and CO2 savings while also enhancing the comfort and health of users. All non-residential buildings will need to be equipped with BACS, and each member state is expected to comply with the requirements. These developments are expected to drive the growth of the BACS market in Europe during the forecast period.
In 2020, the outbreak of COVID-19 severely impacted the growth of several industries, including manufacturing, in the region. Several construction activities and transportation equipment manufacturing facilities halted most of their operations, which adversely affected the demand for BACS. However, the residential building segment observed a rise in the demand for BACS, as the lockdown restrictions had confined people to their homes. This led to a rise in power consumption in the residential segment and spurred the growth of the regional BACS market for energy savings.
The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Building Automation And Control Systems Market Scope |
|
Report Coverage |
Details |
Page number |
165 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 9.25% |
Market growth 2023-2027 |
$ 31125.12 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
7.46 |
Regional analysis |
Europe, North America, APAC, Middle East and Africa, and South America |
Performing market contribution |
Europe at 31% |
Key countries |
US, Canada, China, UK, and Germany |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
ABB Ltd., Bajaj Electricals Ltd., BuildingLogiX, Emerson Electric Co., Evon Technologies Pvt. Ltd., Forescout Technologies Inc., Honeywell International Inc., IoEnergy Inc., Itron Inc., Johnson Controls International Plc, KMC Controls Inc., Legrand SA, Lutron Electronics Co. Inc., Mode Green Integrated Building Technology, OptergyA, PointGrab Inc., Rockwell Automation Inc., Schneider Electric SE, Siemens AG, and Robert Bosch GmbH |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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