The global Building Automation System market size accrued earnings worth approximately USD 84.76 Billion in 2023 and is predicted to gain revenue of about USD 203.15 Billion by 2032, is set to record a CAGR of nearly 10.20% over the period from 2024 to 2032.
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Market overview of building automation systems
Through building automation system, it is an automatic centralised control of the air conditioning, heating, lighting, ventilation, and other systems of a building. This kind of infrastructure’s mail feature is to lower costs, improve safety, and raise system efficiency.
Rising adoption of automated security system, growing development of wireless sensor technology for building automation systems, and increasing penetration of internet of things in building automation systems are some of the drivers stimulating market growth in the expected years, which shows indications of growth in building automation system market. Moreover, the building automation combined with IoT has made data interchange between several electrical equipment possible without human involvement in between possible. These elements have also encouraged the expansion of BAS market.
The BAS enables building managers and residents to continuously track the energy use of the structure. It gives its owners or operators consumption or energy drifts as well as data and knowledge on energy saving techniques. Once automation technology arrived, makers of automation systems focused on creating user-friendly software for management of energy usage, thereby driving long-term market expansion of BAS market.
Nonetheless, a main obstacle the businesses in the BAS market have been facing is a lack of qualified labour, misleading ideas about installation cost, and technical problems.
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The Global Building Automation System Market is segmented based on product, application and region
Global Building Automation System Market: Product Segment Analysis
● Facility Management Systems
● Security & Access Control Systems
● Fire Protection Systems
● Building Energy Management Software
● BAS Services
● Others
Global Building Automation System Market: Application Segment Analysis
● Residential
● Commercial
● Industrial
● Government
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The Global Building Automation System market profiles key players such as:
● ABB
● Hubbell
● Robert Bosch
● Legrand
● Schneider Electric
● United Technologies Corp.
● Johnson Controls International
● Honeywell International
● Siemens AG
● Ingersoll-Rand
Regional Analysis of Global Building Automation System Market Size
North America, Europe, Asia Pacific, Latin America, Middle East & Africa forms the basis of the segmentation of the global building automation market. With government efforts towards energy conservation supporting the expansion of the building automation system market in APAC and the fast pace development of the construction industry in developing nations like China and India along with the other factors, Asia Pacific is expected to have growth in building automation system market attributed. Projects for smart cities have been started by nations including China and India.
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