The building automation and control system global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Building Automation And Control System Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The building automation and control system market size has grown strongly in recent years. It will grow from $87.90 billion in 2023 to $96.36 billion in 2024 at a compound annual growth rate (CAGR) of 9.6%. The growth in the historic period can be attributed to energy efficiency regulations, cost reduction demands, shift towards smart buildings, growing focus on occupant comfort and well-being, and demand for real-time monitoring and control.
The building automation and control system market size is expected to see rapid growth in the next few years. It will grow to $141.05 billion in 2028 at a compound annual growth rate (CAGR) of 10.0%. The growth in the forecast period can be attributed to focus on energy efficiency and sustainability, growth of smart cities and infrastructure, increased connectivity and interoperability, rise of remote work and remote monitoring. Major trends in the forecast period include integration of artificial intelligence (AI) and machine, expansion of internet of things (IoT) connectivity, growth of edge computing, adoption of cloud-based solutions, and rise of smart building platforms.
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Scope Of Building Automation And Control System Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Building Automation And Control System Market Overview
Market Drivers –
The rise in smart building construction is expected to propel the growth of the building automation and control system market going forward. Smart buildings utilize advanced technology and interconnected systems to optimize energy efficiency, enhance occupant comfort, improve operational efficiency, and increase overall building performance. Smart building construction is increasing due to cost-saving opportunities, regulatory requirements, and the growing demand for connected and intelligent spaces. The building automation and control system provides the necessary connectivity and integration capabilities to ensure interoperability and coordination among various components, enabling centralized control and monitoring of building operations. For instance, in May 2022, according to reports published by Buildup., a Europe-based climate, infrastructure, and environment executive agency, globally there will be 115 million smart buildings by 2026, up from 45 million in 2022. Therefore, the rise in smart buildings is driving the growth of the building automation and control system market.
Market Trends –
Major companies operating in the bus dispatch management systems software market are focused on developing innovative solutions, such as Operations, to gain competitive advantages in the market. Operations is a real-time tracking and predictive analytics software tool that enables transit agencies to improve public transportation systems’ efficiency, reliability, and responsiveness, ultimately enhancing the passenger experience and promoting sustainable mobility. For instance, in June 2022, Lufthansa Systems, an Israel-based developer of an AI-enabled SaaS platform for planning and operating public transportation, launched Operations, a real-time cloud-native solution designed to mitigate driver-related service disruptions in public transportation planning and management. This software helps public transport operators address staffing issues by improving driver and vehicle allocation, detecting potential depot disruptions in real-time, and suggesting solutions to challenges like driver call-outs or delays.
The building automation and control system market covered in this report is segmented –
1) By Offerings: Solution, Services
2) By Technology: Wired, Wireless
3) By End User: Residential, Commercial, Industrial
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Regional Insights –
Asia-Pacific was the largest region in the building automation and control system market in 2023. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the building automation and control system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Key Companies –
Major companies operating in the building automation and control system market are Robert Bosch GmbH, Hitachi Ltd., Siemens AG, Cisco Systems Inc., Schneider Electric SE, Honeywell International Inc., ABB Ltd, Johnson Controls International plc, Trane Technologies plc, Emerson Electric Co., Legrand SA, Rockwell Automation Inc., Signify Holding B.V., Hubbell Incorporated, Lennox International Inc., Acuity Brands Inc., Carrier Global Corporation, Crestron Electronics Inc., Leviton Manufacturing Co. Inc., Beckhoff Automation GmbH & Co. KG, Snap One LLC, Lutron Electronics Co. Inc., Current Lighting Solutions LLC., Dialight plc, Uplight Inc.
Table of Contents
1. Executive Summary
2. Building Automation And Control System Market Report Structure
3. Building Automation And Control System Market Trends And Strategies
4. Building Automation And Control System Market – Macro Economic Scenario
5. Building Automation And Control System Market Size And Growth
…..
27. Building Automation And Control System Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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