Building Automation And Control System Market Size Forecast: Revenue and CAGR by 2029
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What Is The Expected Total Market Size Of The Building Automation And Control System Industry By The Forecast Year 2029?
The sphere of building automation and control systems has seen substantial expansion lately, projecting a rise from a valuation of $96.36 billion in 2024 to $106.95 billion by 2025, exhibiting at an 11.0% compound annual growth rate. Driving this historical upward trajectory were factors such as the imposition of energy efficiency mandates, imperatives to lower operational expenses, the general movement toward sophisticated smart buildings, increased prioritization of the comfort and health of occupants, and the requirement for immediate data monitoring and system management.
Anticipation surrounds the building automation and control system sector, which is projected to expand quickly over the coming years, reaching a valuation of $162.88 billion by 2029, fueled by an 11.1% compound annual growth rate; this surge during the forecast timeframe is fundamentally driven by heightened attention toward optimizing energy usage and achieving sustainability goals, coupled with the proliferation of smart city initiatives and related infrastructure, enhanced system interoperability and connectivity, and the increasing prevalence of remote work models necessitating remote oversight capabilities.Key developments set to define this period involve the embedding of artificial intelligence (AI) and machine learning capabilities, the broadening footprint of Internet of Things (IoT) connections, the increasing adoption of edge computing paradigms, the broad implementation of cloud-based service offerings, and the emergence of cohesive smart building platforms.
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Which Drivers Are Impacting The Building Automation And Control System Market?
Anticipated growth in the construction of intelligent buildings is projected to be the primary catalyst for the expansion of the building automation and control system sector in the future. These modern structures leverage sophisticated technologies and integrated networks to maximize energy conservation, elevate occupant well-being, streamline functional processes, and boost comprehensive building effectiveness. The increasing prevalence of smart building development stems from avenues for reducing expenses, compliance obligations, and a heightened desire for spaces that are both linked and astute. Building automation and control systems furnish the crucial links and fusion functionalities required to ensure seamless interaction and synchronized operation across diverse elements, thereby facilitating unified oversight and management of building activities. To illustrate this trend, data released by Buildup., an executive body in Europe focusing on climate, infrastructure, and the environment, indicated in May 2022 that the worldwide count of smart buildings is estimated to reach 115 million by the year 2026, a notable increase from the 45 million recorded in 2022. Consequently, the escalating number of smart structures directly fuels the market advancement for building automation and control systems.
What Are The Emerging Segments Gaining Attention In The Building Automation And Control System Market?
The building automation and control system market covered in this report is segmented –
1) By Offerings: Solution, Services
2) By Technology: Wired, Wireless
3) By End User: Residential, Commercial, Industrial
Subsegments:
1) By Solution: Hardware, Software
2) By Services: Installation And Integration, Support And Maintenance, Managed Services
How Are Emerging Market Trends Shaping The Building Automation And Control System Industry Landscape?
Leading firms within the building automation and control system sector are dedicating efforts to engineering novel solutions, notably devices like IoT-enabled smart actuators, with the aim of advancing both the automation and modernization of structures. These sophisticated actuators integrate conventional mechanical actuation functions with modern smart technology attributes, commonly featuring integrated sensors, networking capabilities, and refined control systems. To illustrate, in July of 2022, Sauter AG., a corporation headquartered in Switzerland specializing in building automation, introduced an updated series of actuators equipped for the Internet of Things, consequently broadening its existing portfolio. This advanced technology facilitates climate control for air conditioning, ventilation, and heating systems through entirely or partially self-governing operation. Furthermore, benefits include streamlined setup and deployment procedures, seamless cloud integration supported by an extensive application catalog and remote access, alongside mobile accessibility through a dedicated smartphone application.
Who Are The Major Companies Operating In The Building Automation And Control System Market?
Major companies operating in the building automation and control system market are Robert Bosch GmbH, Hitachi Ltd., Siemens AG, Cisco Systems Inc., Schneider Electric SE, Honeywell International Inc., ABB Ltd., Johnson Controls International plc, Trane Technologies plc, Emerson Electric Co., Legrand SA, Rockwell Automation Inc., Signify Holding B.V., Hubbell Incorporated, Lennox International Inc., Acuity Brands Inc., Carrier Global Corporation, Crestron Electronics Inc., Leviton Manufacturing Co. Inc., Beckhoff Automation GmbH & Co. KG, Snap One LLC, Lutron Electronics Co. Inc., Current Lighting Solutions LLC., Dialight plc, Uplight Inc.
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Which Regional Markets Are Contributing Most To The Building Automation And Control System Industry Expansion?
Asia-Pacific was the largest region in the building automation and control system market in 2024. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the building automation and control system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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