The Building Automation System Global Market Report 2023, provides comprehensive information on the building automation system market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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The global building automation system market size is expected to grow from $81.30 billion in 2022 to $90.28 billion in 2023 at a compound annual growth rate (CAGR) of 11.06%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global building automation system market size is expected to reach $141.34 billion in 2027 at a CAGR of 11.86%.
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Technological advancements have emerged as a key trend gaining popularity in the building automation system market. Major companies operating in the building automation systems market are developing innovative technologies to strengthen their position in the market. For instance, in January 2022, Daikin Applied Americas Inc., a US-based company that designs, manufactures, and distributes heating, ventilation, and air conditioning systems, launched SiteLineTM Building Controls. It is a network of scalable, cloud-based technologies for easily connecting, monitoring, and managing individual pieces of HVAC equipment as well as integrated building systems. The new controls portfolio gives comprehensive transparency into the whole HVAC ecosystem, assisting in creating pleasant and sustainable work and living environments. It also easily connects many different brands of equipment, easing the integration issues that contractors and engineers confront daily.
The building automation system market is segmented:
1) By Offerings: Facility Management Systems, Security And Access Controls, Fire Protection Systems, Building Energy Management Software, Building Automation System Services, Other Offerings
2) By Technology: Wireless Technology, Wired Technology
3) By Component: Hardware
4) By Application: Industrial, Residential, Commercial
North America was the largest region in the building automation system market in 2022.
The table of contents in TBRC’s building automation system market report includes:
1. Executive Summary
2. Building Automation System Market Characteristics
3. Building Automation System Market Trends And Strategies
4. Building Automation System Market – Macro Economic Scenario
5. Building Automation System Market Size And Growth
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26. Africa Building Automation System Market
27. Building Automation System Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Building Automation System Market
29. Building Automation System Market Future Outlook and Potential Analysis
30. Appendix
Top Major Players:
- Honeywell International Inc
- Robert Bosch GmbH
- Johnson Controls International plc
- Mitsubishi Electric Corporation
- ABB Ltd
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The Business Research Company is a market intelligence firm that pioneers in market, company, and consumer research. TBRC’s specialist consultants are located globally and are experts in a wide range of industries that include healthcare, manufacturing, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries. Through the report businesses can gain a thorough understanding of the market’s size, growth rate, major drivers and leading players.
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