Building Automation Control Systems Market Size, Share, and COVID-19 Impact Analysis, By Offering (Integration and Services), By Control Type (HVAC Control, Fire Control, Lighting Control, Energy Management System, Security & Access Control, and Others), By Industry Vertical (Residential, Commercial, Industrial, Hospitality, Retail, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022-2030
KEY MARKET INSIGHTS
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.
Building automation control systems use connected smart appliances and devices to control and monitor household activities. These cutting-edge smart devices provide customers all around the world with safety, convenience, effective energy savings, and decreased utility costs. The market for global building automation control systems is anticipated to rise as the internet of things technology is more adopted. In addition, it is predicted that rising millennial house ownership rates and rising disposable income in industrialized nations would fuel the market for automated homes. Key market participants are also concentrating on providing cutting-edge solutions to enhance the effectiveness and convenience of home management. For instance, Resido introduced a single platform Home App in February 2020 to manage and control all aspects of home operations, including security, HVAC, and air quality.
COVID-19 ANALYSIS
The quantity of production was affected across industries by the temporary shutdown of manufacturing facilities and subsequently reduced staffing. In the first few months of 2020, the production of home automation products and devices significantly decreased, and the supply chain became unstable. Additionally, the unpredictability of the economic crisis decreased the spending share on smart devices. This had a detrimental impact on growth, and in 2020, YOY growth witnessed a dip.
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.
Rising Adoption of New Innovations and Technologies in the Construction Sector Propel Market Growth
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. Due to significant technological advancements, the building and construction industry is expected to undergo a significant transformation over the forecast period. New technologies like the Internet of Things (IoT), machine learning, Wi-Fi, and Zigbee are being incorporated into contemporary building automation and control systems.
Increasing Demand to Reduce Energy Consumption Drive Market Growth
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. Building Automation Systems (BAS) can help with yearly energy savings ranging from 2 percent to 26 percent, with a typical save of 15 percent, according to a report by the U.S. Department of Energy. BAS solutions can help with a median yearly cost savings of $0.12 per square foot.
Low Volume Commercial Packaging Hamper Market Growth
The initial expense of installing a building automation system and the prolonged cost recovery times are significant barriers to building automation control system adoption. The initial installation cost is very significant and could not be affordable for small-scale structures and shops. Additionally, compatibility between software, networking devices, hardware, databases, and other components is required during deployment, which is a time- and resource-intensive procedure. Therefore, it is anticipated that these factors would soon hinder the expansion of the worldwide building automation control system market.
SEGMENTATION INSIGHT
The Global Building Automation Control Systems Market is segmented by Offering, Control Type, Industry Vertical, and Region. Based on the Offering, the market is categorized into Integration and Services. Based on Control Type, the market is categorized into HVAC Control, Fire Control, Lighting Control, Energy Management System, Security & Access Control, and Others. Based on Industry Vertical, the market is categorized into Residential, Commercial, Industrial, Hospitality, Retail, and Others. Based on the Region, the market is categorized into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.
REGIONAL INSIGHTS
The Global Building Automation Control Systems Market is categorized into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.
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. Together with the Bank of America Charitable Foundation, the US Green Building Council manages the LEED program, which supports local governments looking to implement sustainable practices. Moreover, the market has been expanding significantly in the US as consumers from the residential, commercial, and industrial sectors adopt fantastic energy-saving strategies to implement building automation controls.
Europe is predicted to be the second-most prominent region in the market due to the region has seen a significant increase in prominent market participants. The implementation of smart lodging technology in European nations is included in various government plans due to its sustainable environmental impact and energy-efficient solution.
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. For instance, in April 2021, Schneider Electric worked with India-based house renovator Livspace in light of the growing customer interest and to provide ease of access to home solutions.
LIST OF COMPANIES PROFILED:
- ABB Ltd.
- Johnson Controls International plc
- Crestron Electronics
- Siemens AG
- Control4 Corporation
- Koninklijke Philips N.V
- Legrand SA
- Honeywell International Inc.
- Savant Systems LLC
- Honeywell International Inc.
- Schneider Electric SE
- Mitsubishi Electric Corporation
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.
SEGMENTATION
By Offering
- Integration
- Services
By Control Type
- HVAC Control
- Fire Control
- Lighting Control
- Energy Management System
- Security & Access Control
- Others
By Industry Vertical
- Residential
- Commercial
- Industrial
- Hospitality
- Retail
- Others
By Region
- North America- U.S., Mexico, Canada
- Europe- UK, France, Germany, Italy, Spain, Rest of Europe
- Asia-Pacific- China, Japan, India, South Korea, Rest of Asia Pacific
- South America- Brazil, Argentina, Colombia, Rest of South America
- The Middle East and Africa- GCC, South Africa, Rest of Middle East & Africa
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Building Automation Control Systems Market Size
- August-2022
- 148
- Global
- Machinery-Equipment
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