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Building Automation System Market Size Forecasted To Achieve $181.77 Billion By 2029 With Steady Growth
Building Automation System
What Is the Building Automation System Market Size and Projected Growth Rate?
The Building Automation System Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].
What Is the Building Automation System Market Size and Projected Growth Rate?
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What Are the Major Segments in the Building Automation System Market?
The building automation system market covered in this report is segmented -
1) By Component: Hardware, Software
2) By Offerings: Facility Management Systems, Security And Access Controls, Fire Protection Systems, Building Energy Management Software, Building Automation System Services, Other Offerings
2) By Technology: Wireless Technology, Wired Technology
4) By Application: Industrial, Residential, Commercial
Subsegments:
1) By Hardware: Sensors, Actuators, Controllers, Switches And Relays, HVAC Control Systems, Lighting Control Systems, Security And Access Control Systems
2) By Software: Building Management Software, Energy Management Software, Facility Management Software, Security Management Software, Integrated Building Automation Software, Cloud-Based Building Automation Solutions
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What Are The Driving Building Automation System Market Evolution?
The escalation in construction undertakings is anticipated to fuel the progression of the building automation system market. The term "construction activity" encompasses the creation or assembly of physical constructs such as buildings, roads, bridges, and other infrastructure projects. As these activities surge, there's likely to be a parallel escalation in the need for building automation systems (BAS). The introduction of automation solutions can alleviate administrative tasks for engineering staff and aid construction managers in enhancing their efficiency in these vital sectors. For example, data revealed by the Office for National Statistics, a recognized UK-based national statistics body, noted that construction productivity in the UK is expected to have climbed by 1.2% in the three months leading to July 2024. This rise is backed by an augmentation in new work (1.6%) and repair and maintenance (0.8%), including notable increment of 1.7% in May and 0.5% in June 2024. Therefore, the surge in construction activities is spurring the development of the building automation system market.
Which Firms Dominate The Building Automation System Market Segments?
Major companies operating in the building automation system market include Honeywell International Inc., Robert Bosch GmbH, Johnson Controls International plc, Mitsubishi Electric Corporation, ABB Ltd., Schneider Electric SE, Siemens AG, Hubbell Inc., United Technologies Corporation, Ingersoll-Rand plc, General Electric Company, Cisco Systems Inc., Trane Technologies, Lutron Electronics Co. Ltd., Hitachi Ltd., Huawei Technologies Co. Ltd., Emerson Electric Co., Legrand, Control4 Corporation, Automated Logic Corporation, Delta Controls Inc., Distech Controls Inc., Crestron Electronics Inc., Leviton Manufacturing Co. Inc., Lynxspring Inc., Reliable Controls Corporation, Tridium Inc., Carrier Corporation, Computrols Inc., Daikin Industries Ltd.
What Trends Are Expected to Dominate the Building Automation System Market in the Next 5 Years?
The phenomenon of advancing technology has become a significant trend that is growing in the building automation system market. Major industry players in the building automation systems sector are forging new technological methods to solidify their market standing. A case in point is Daikin Applied Americas Inc., from the United States, a company that specializes in crafting, manufacturing, and distributing systems for heating, ventilation, and air conditioning. In January 2022, they rolled out their latest innovation, SiteLine Building Controls. This setup involves a series of expandable, cloud-based technologies designed for the effortless connection, monitoring, and management of independent HVAC units as well as integrated building schemes. This innovative controls portfolio provides a comprehensive view of the entire HVAC ecosystem, aiding in the establishment of comfortable and sustainable living and work spaces. Furthermore, it has the capacity to seamlessly connect multiple brands of equipment, thus addressing the integration challenges routinely faced by contractors and engineers.
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Which Is The Largest Region In The Building Automation System Market?
North America was the largest region in the building automation system market in 2024.Asia-Pacific is expected to be the fastest-growing region in the global building automation system market report during the forecast period. The regions covered in the building automation system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Building Automation System Market?
2. What is the CAGR expected in the Building Automation System Market?
3. What Are the Key Innovations Transforming the Building Automation System Industry?
4. Which Region Is Leading the Building Automation System Market?
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