• John Watson

Global Building Automation Control Systems Market Size to grow by US$ 255.59 Bn in 2030

The Global Building Automation Control Systems Market Size is expected to be worth USD 105.47 Billion in 2021 and is estimated to reach up to USD 255.59 Billion by 2030, at a compound annual growth rate (CAGR) of 11.10% from 2022 to 2030.


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Building automation control systems are intelligent systems that connect HVAC, lighting, security, venting, and other systems to communicate on a single platform. They are composed of both software and hardware. Building automation systems are centralized networks with interconnected nodes that can monitor and regulate the environment in commercial, industrial, and institutional buildings. The major goal is to design an intelligent and efficient structure and lower the facility's energy and maintenance costs. A BAS-controlled structure is typically referred to as an intelligent building, smart building, or smart house. BAS can replace the need for human intervention or control over various systems when used in conjunction with sensors and other automation technologies.


The constraints on staying at home to stop the spread of the illness steadily increased market demand. According to the leading industry experts, this has increased demand for effective home energy-saving smart gadgets to track energy usage and lower utility costs. Similar to that, it led to an increase in demand for smart TV, smart set-top boxes, voice-activated streaming sticks, and other devices. Due to an increase in instances, the stay-at-home period was extended globally, which was observed by many market participants.


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Building automation systems are becoming more widely used in the hospitality industry, particularly in places that want to set themselves apart from rivals and concentrate on developing higher-end, world-class hotels. To solve the crucial challenges of rising energy costs in the hotel sector, many manufacturers are now offering wireless solutions. Although BAS adoption in the hotel sector is still in its infancy, it is anticipated to gain momentum as awareness grows and rules are introduced by the relevant governments to require the use of these solutions.


Improvements in cloud computing, artificial intelligence, machine learning, and connectivity technologies are anticipated to accelerate the growth of the global building automation and control system market during the forecast period. Government agencies from all over the world are promoting the creation of smart cities, where it is anticipated that smart buildings will become the norm. According to the United Nations Environment Program, buildings such as homes, and other public buildings use about 40 percent of the energy produced globally, while businesses and residences use about 60 percent of it. Uncontrolled building operations also result in energy waste of between 10 and 25 percent. In these circumstances, BAS assists in lowering these figures, which is anticipated to encourage market expansion. Building automation systems also provide better monitoring and control over a variety of applications, which results in cost savings and energy usage optimization.


The North America region is expected to dominate the market share owing to its developed infrastructure that can support building automation solutions in the residential and commercial segments. Due to the advantages these systems offer in terms of energy conservation, the governments in the region are leaning toward implementing such smart solutions. However, the Asia Pacific region is expected to witness the highest growth rate during the forecast period of the market due to rising investments in smart technologies. Due to the predominant presence of important smart device manufacturers, China will likely control the region's share. Due to the rising need for automated solutions, India would have a high CAGR during the projection period.


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KEY INDUSTRY DEVELOPMENTS:


November 2019- Johnson Controls purchased the Building and Energy Management System (BEMS) product line from Malaysia-based EasyIO. The company is anticipated to use EasyIO's products and team in the Americas, Europe, the Middle East, and Asia-Pacific building automation systems markets, as well as the worldwide HVAC, safety, and refrigeration markets, as a result of this aspect, which opens up enormous growth prospects.


March 2019- A cloud-based system for assessing energy use and expenses in commercial buildings, the BEAM AX energy management system, was introduced by Mitsubishi Electric U.S. Inc. The energy management system gives users the ability to analyze energy use, track performance, estimate peak demand, identify unusual usage patterns, reduce expenses, and track the effectiveness and advantages of solar energy production.


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