The global building automation system market size is expected to reach USD 204.2 billion by 2030, according to a new study by Polaris Market Research. The report “Building Automation System Market Share, Size, Trends, Industry Analysis Report, By Product; Network; End-Use; By Region; Segment Forecast, 2022 - 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.
A security video surveillance system is the most important component of any building automation system (BAS). The best security measure is video monitoring, which monitors those entering and leaving the premises. Surveillance systems are crucial in offices, residences, airports, and educational institutions. Many countries suggest strict regulations when installing security surveillance systems. Public facilities to have a security surveillance system.
The system offers protection against theft, assaults, and other criminal behavior. Government regulations and security-related awareness campaigns fuel the market expansion for building automation systems. Additionally, BAS is necessary for modern structures. These systems are chosen for their cost-effectiveness. The BAS provides access to safety, convenience, and energy efficiency.
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The United Nations estimates that there were 2.5 billion people on the planet in 1950; this number has increased to 8 billion by 2022; and will reach 10.5 billion by the end of the century. Furthermore, the IEA predicts that in 2050, billions of people will buy AC in hot countries. By 2050, this estimate states that 75% of people in hot countries may be using air conditioners.
According to the International Monetary Fund, roughly 332.18 million people were living in the U.S. in 2021.
The demand for building new homes is anticipated to surge as a result of this population growth. The Wall Mount indoor mini-split unit PRIMARY P300 range of single-zone, high-efficiency commercial mini-split systems was introduced by Johnson Controls-Hitachi, in May 2022. This ductless cooling and heating system fulfilled the unique requirements of small to medium-sized enterprises, including restaurants, retail shops, and educational institutions. This is compact and lightweight and has various mounting options, simplifying installation for contractors.
Strong economic growth, growing infrastructure, and new construction in APAC have accelerated building automation systems’ use. The demand for BAS in APAC has grown, which may be attributable to the region's economic growth and increased business activity in the region's major economies.
Building Automation System Market Report Highlights
Polaris Market Research has segmented the building automation system market report based on product, network, end-use, and region:
Building Automation System, Product Outlook (Revenue - USD Billion, 2018 - 2030)
Building Automation System, Network Outlook (Revenue - USD Billion, 2018 - 2030)
Building Automation System, End-Use Outlook (Revenue - USD Billion, 2018 - 2030)
Building Automation System, Regional Outlook (Revenue - USD Billion, 2018 - 2030)