Press release
Intelligent Building Automation Technologies Market Size, Industry Trends, Regional Outlook, Competitive Market, And Forecast To 2033
Intelligent Building Automation Technologies Market
The intelligent building automation technologies market size is expected to see strong growth in the next few years. It will grow to $133.26 billion in 2028 at a compound annual growth rate (CAGR) of 9.0%. The growth in the forecast period can be attributed to maturing technology ecosystem, customization and flexibility, data security and privacy, human-centric design, decentralized energy systems, . Major trends in the forecast period include digital transformation, globalization and supply chain complexity, shift to smart manufacturing, customer-centric design.
Market Overview -
Intelligent building automation technologies (IBAT) refer to a software and hardware network that controls and monitors the environment of a building facility. It creates an atmosphere that is efficient, comfortable, and convenient by addressing basic demands such as structure, system, service, and management, and optimizing their interrelationship. The intelligent building automation technologies are used for a faster, easier, and more convenient interface.
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Energy-Efficient Projects Fueling Growth In The Intelligent Building Automation Technologies Market
Increasing energy-efficient projects are expected to propel the growth of the intelligent building automation technologies market going forward. Energy-efficient projects refer to a structure that maximizes resource efficiency while maintaining comfortable living conditions within the home with the least amount of energy possible. Intelligent building automation solutions help energy-efficient projects by reducing energy consumption by 10% to 25%, making the buildings highly energy efficient. For instance, according to Energy Star, a voluntary U.S. Environmental Protection Agency (EPA) program, in 2021, more than 6,100 commercial buildings earned the Energy Star, saving nearly $1.5 billion and preventing more than 4.6 million metric tons of greenhouse gas emissions. Therefore, increasing energy-efficient projects are driving the intelligent building automation technologies market growth.
Competitive Landscape -
Major companies operating in the intelligent building automation technologies market report are Asea Brown Boveri Ltd., Azbil Corporation, Eaton Corporation plc, General Electric Company, Ingersoll Rand Inc., Siemens Building Technologies Inc., Schneider Electric SE, Honeywell International Inc., Hubbell Incorporated, Rockwell Automation Inc., United Technologies Corporation, Samsung Electronics Co. Ltd., Delta Controls Inc., Panasonic Corporation, Robert Bosch GmbH, Cisco Systems Inc., Trane Technologies plc, Lutron Electronics Co. Inc., Johnson Controls International plc, Beijer Electronics AB, Emerson Electric Co., Mitsubishi Electric Corporation, Hitachi Ltd., Huawei Technologies Co. Ltd., Creston Electronics LLC, Legrand SA, Bajaj Electricals Limited, Building LogiX Inc., Distech Controls Inc., Dialight plc
Groundbreaking Generative Autonomy Platform For Intelligent Building Automation Technology
Product innovation is the key trend gaining popularity in the intelligent building automation technology market. Major companies operating in the intelligent building automation technology market are focused on developing advanced technologies to sustain their position in the market. For instance, in November 2023, PassiveLogic Inc. a US-based company that specializes in intelligent building automation technologies launched a generative autonomy platform. The generative autonomy platform transforms building control systems from basic, programmable controls to fully intelligent, autonomous ones. The platform can be utilized for new construction or retrofitting and is scalable from coffee shops to skyscrapers. Autonomous systems that are versatile enough to be used in a wide range of disciplines by both novices and specialists are made possible by generative autonomy. The platform offers a comprehensive autonomous building platform that surpasses expectations with a fraction of the work and is intended to enable users to design their own autonomous systems .
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Key Segments -
The intelligent building automation technologies market covered in this report is segmented -
1) By Type: Hardware, Software, Service
2) By Communication Technology: Wired Technology, Wireless Technology
3) By Application: Residential, Commercial, Industrial
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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