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 (HVAC, Facility Management System, Security and Surveillance System, Fire Protection System, Lightening Control System); 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
- The security and surveillance system is expected to grow at the fastest CAGR. The significant adoption of various products, such as access control and video surveillance systems in homes, businesses, government buildings, and financial institutions, is the reason for the rise of this segment.
- Commercial segment is expected to garner largest revenue share due to high demand from commercial buildings such as malls, private academic institutions, and gated communities.
- APAC region is projected to grow at the fastest growth rate over the study period due to the Internet of Things (IoT) & advanced technologies in commercial buildings.
- Global players include Honeywell International, Cisco Systems, Trane Technologies, Lutron Electronics, Hubbell, and others.
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)
- Facility Management System
- Security and Surveillance System
- Fire Protection System
- Lightening Control System
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)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa