Building Automation System Market Expected to Reach $194.9 Billion by 2030—Allied Market Research

According to a new report published by Allied Market Research, titled, “Building Automation System Market," The building automation system market size was valued at $75.8 billion in 2021, and is estimated to reach $194.9 billion by 2030, growing at a CAGR of 10% from 2022 to 2030.

Building Automation System, also known as Energy Management Control Systems (EMCS) or Building Management Systems (BMS), are smart devices that pilot lighting, HVAC ventilation, fire protection systems and general building automation. Building automation systems are created to allow for the automatic and hands-free operation of the building's systems. They are frequently utilized in installations where the users are absent or communicating with the equipment via a digital interface or voice command. When a person is not there, a building automation system can operate anything from temperature and lighting to HVAC. These factors are anticipated to propel the building automation system market share in the coming years.

However, some of the disadvantages of building automation system market are the small equipment size because most building management systems do not have the capability to control smaller equipment, there will likely be significant blind spots. Most properties with a BMS have it installed primarily on the big loads, such as large HVAC equipment and lighting, due to the high expense to build, maintain, and operate it. Concentrating efforts on building systems that will have the biggest effects on operating costs and tenant satisfaction makes sense when resources are few.

Governments of various nations are providing industries with considerable incentives to use business automation technology. The Indian Government is urging various companies to implement business automation technology since it saves money and consumes less energy. Furthermore, during the forecast period, proactive government measures to encourage the adoption of BAS systems are anticipated to increase the building automation system market growth .

The global building automation system market analysis is segmented based on component, application, offerings, and region. By component, it is classified into hardware and software. By application, it is classified into industrial, residential, and commercial. By offerings, it is classified into facility management systems, security & access controls, fire protection systems, building energy management software, bas services, and others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The key players profiled in the building automation system market report include Honeywell International Inc., Robert Bosch GmbH, Johnson Controls, Mitsubishi Electric Corporation, ABB, Schneider Electric, Siemens, General electric, Hubbell, and United Technologies Corporation

Impact of COVID-19 on the Global Building Automation System Industry

• The COVID-19 epidemic has positive impact the global intelligent building automation system sector by lowering long-term expenses. Intelligent heating, ventilation, and cooling systems are used in commercial buildings, which helps to cut down on energy waste.
• COVID-19 impacted almost all industries and the building automation system companies ceased their operations owing to the building controls from a central hub using a logic algorithm. It manages controls as per the direct inputs and present conditions that give rise to a smart building.
• COVID-19 building automation system retailers had evaluated their installation strategies and possibly considered the emerging do-it-with-me movement system. The governments of some nations have made the installation of touchless thermal scanners at the gates to residential communities, institutions, and commercial facilities mandatory.

Key Findings of the Study

• Based on component, the hardware sub-segment emerged as the global leader in 2021 and the software sub-segment is anticipated to be the fastest growing sub-segment during the forecast period
• Based on application, the commercial sub-segment emerged as the global leader in 2021 and the industrial sub-segment is predicted to show the fastest growth in the upcoming years
• Based on offerings, the security and access controls sub-segment emerged as the global leader in 2021 and the building energy management software sub-segment is anticipated to be the fastest growing sub-segment during the forecast period
• Based on region, the Asia-Pacific market registered the highest market share in 2021 and is projected to maintain the position during the forecast period
• The study also provides in-depth analysis of the building automation system market trends