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Global Building Automation System Market Expected to Reach US$ 1,67,356.2 Million by 2027


Global Building Auto

iCrowdNewswire   Jan 12, 2021  10:00 AM ET

42_Global Building Automation System Market Size & Share
 
According to a recent market study published by Growth Market Reports (GMR), titled, “Global Building Automation System Market by Type, Application, Offering, and Region: Size, Share, Trends and Opportunity Analysis, 2017-2027”, the market was valued at US$ 74,882.0 Million in 2019 and is expected to grow at a healthy growth rate of 10.9% by the year 2027. A building automation system is an automated system that incorporates and links several different construction technologies to a control point via information flow. The commercial segment is expected to lead the market in the forecast period. Increasing implementation of building automation systems in large shopping centers, office buildings, and public transport, such as airports and train stations, is driving the growth of the business segment.
 
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The global building automation system market is fragmented based on types, applications, offerings, and region. Based on types, the building automation system market is bifurcated into wired technology, and wireless technology. On the basis of applications, the building automation system market is segregated into residential, commercial, and others. On the basis of offering, the building automation system market is segregated into facility management systems, security & access control systems, fire protection systems, building energy management software, bas services, others. Based on region, the global building automation system market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, Asia Pacific is further segmented into, India, China, South Korea, Australia, Japan, and Rest of Asia Pacific. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe, and the MEA region is further divided into Saudi Arabia, South Africa, UAE, and Rest of Middle East & Africa (MEA).

In year 2020, the building automation system market is expected to witness a lower sale due to the adverse effect COVID-19 pandemic on business across the world. The COVID-19 pandemic has had a rapid and serious impact on the global manufacturing and financial sectors. However, no clarity on the deeper effects has been provided. Global disruptive supply chain, lack of raw material availability, temporary shutdown of production units is the reason for lower production output. Moreover, global demand from the customer’s side has also fallen due to the spread of the pandemic.

As per GMR industry analyst Partha Paul, “The global building automation system market is anticipated to witness significant growth during forecast period 2020-2027 driven by the demand for Energy-efficient BASs is increasing. BASs help optimize HVAC and lighting systems, saving 5% to 30% of the building’s total energy consumption. The HVAC also emits significant amount of CO2. According to the US Energy Information Administration, in 2017, the construction sector in the US accounted for 40% of the total energy consumption in the world, 38% of CO2 emissions, and 36% of greenhouse gas emissions. Increasing awareness regarding energy conservation and rising focus on reducing the energy use and maintenance costs of buildings are fueling the demand for BAS. The system plays a significant role in maximizing energy use and reducing energy costs. HVACs and BASs are major consumers of energy. Air heating and cooling together with water heating currently account for around 60% of global energy consumption in houses, according to International Energy Agency (IEA).

 
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Key Takeaways from the Study:
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Report Scope:

Report Metric Details
Market Value in 2019 US$ 74,882.0 Million
Market Growth Rate (from 2021 to 2027) 10.9 %
Historical Data 2017 & 2018
Base Year 2019
Forecast Period 2020 – 2027
Units Considered Value (US$ Million)
Market Segments By Type , By Application, By Offering
Regional Scope North America, Europe, Latin America, Asia Pacific, Middle East & Africa (MEA)
Country Scope U.S., Canada, Brazil, Mexico, Rest of Latin America, India, China, Japan, South Korea, India, Australia, Rest of Asia Pacific, U.K., France, Germany, Italy, Spain, Russia, Rest of Europe, Iran, South Africa, UAE, and Rest of MEA.
Key Companies Profiled Honeywell International Inc., Siemens, Johnson Controls, Schneider Electric, Carrier (United Technologies Corporation), Robert Bosch GmbH, Hubell (Hubbell Incorporated), ABB, Legrand, Building IQ, Ingersoll Rand (Trane), Lutron Electronics Co., Inc., and Crestron Electronics, Inc.
Customization Scope Report customization available on request
Pricing and Purchase Options Avail tailor-made purchase options to meet your research requirements.

Target Audience:

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