The building automation system (BAS) market was valued at USD 53.66 billion in 2016 and is expected to reach USD 99.11 billion by 2022, at a CAGR of 10.73% between 2017 and 2022.
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Factors such as increase in demand for energy-efficient systems, growing need for the automation of security systems in buildings, and advancement of IoT in BAS are expected to fuel the growth of the overall BAS market.
However, the high cost of implementation, technical difficulties, and lack of skilled experts are the factors restricting the growth of the market.
Global Building Automation System Market Companies Mentioned In Report: Honeywell International Inc.
(U.S.), Siemens AG (Germany), Johnson Controls International PLC (Ireland), Schneider Electric SE (France), United Technologies Corp. (U.S.), Robert Bosch GmbH (Germany), Legrand SA (France), Hubbell Inc.
(U.S.), ABB Ltd. (Switzerland), Ingersoll-Rand Plc (Ireland), Lutron Electronics Co., Inc. (U.S.), Crestron Electronics, Inc.
(U.S.)., Building IQ (U.S.). These companies have adopted various strategies, such as mergers & acquisitions and partnership, among others to achieve growth in the global Building Automation System market.
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- Building Automation System Market Premium Insights:
- Attractive Opportunities in Building Automation System Market.
- Building Automation System Market, By Function.
- Building Automation System Market in Asia-Pacific Region.
- Building Automation System Market: Major Countries.
- Building Automation System Market, By Crop Type & Region.
- Building Automation System Market, By Crop Type.
- Building Automation System Market Life Cycle Analysis, By Region.
The BAS market for security and access control systems is expected to grow at the highest rate during the forecast period. The need for increased level of security, activity monitoring, and access control has led to the rise in the demand for security and access control systems.
The demand for home security solutions is also growing at a rapid pace because of various factors such as technological advancements, rise in crime rates, need for medical assistance to the senior citizens at home, and monitoring the children at home.
- Building Automation System Market Overview:
- Market Segmentation
- Market Dynamics
- Building Automation System Market, By Technology.
- Building Automation System Market, By Offering.
- Building Automation System Market, By Application.
- Building Automation System Market, By Region:
APAC is expected to be the fastest-growing market for BAS. The market in this region has been sub segmented into India, China, Japan, and Rest of APAC.
The expected growth is attributed to the high economic growth witnessed by the major countries in this region. The rapid modernization and increase in construction activities in the APAC region has accelerated the growth of automatic centralized control of the HVAC systems installed in this region, ultimately leading to the growth of the BAS market in APAC.
North America accounted for the largest share of the BAS market in 2016. The commercial and residential applications hold the largest share of the North American BAS market, and the demand of BAS for these applications as well as the growing demand for the industrial application is likely to fuel the BAS market in North America.
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From an insight perspective, this research report has focused on various levels of analysis—industry analysis (industry trends), market ranking analysis of top players, value chain analysis; company profiles that discuss the basic views on the competitive landscape, emerging and high-growth segments of the BAS market, high-growth regions; and market dynamics such as drivers, restraints, challenges, and industry-specific opportunities.
This research report categorizes the overall Building Automation System market based on gas type, technology, end-use application, MEMS-based Building Automation System, and geography. The report describes major drivers, restraints, challenges, and opportunities pertaining to the market as well as provides value chain analysis.