The building automation system market is anticipated to be worth US$ 47,800 million in 2023. The market is expected to progress at a promising rate over the 2023 to 2033 period, with a CAGR of 7.4%. At the end of the forecast period by 2033, the value of the market is expected to reach US$ 96,264 million.
Building Automation System Market Analysis and Insights
| Attributes | Details |
|---|---|
| Building Automation System Market Value for 2023 | US$ 47,800 million |
| Projected Market Value for 2033 | US$ 96,264 million |
| Value-based CAGR of Market for 2023 to 2033 | 7.4% |
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The building automation system market was tipped to be US$ 34,487 million in value in 2018. The market likely progressed at a sturdy CAGR of 6.4% over the historical period.
As technological advances continued to be integrated into residential and commercial spaces, building automation systems also found acceptance. The pandemic acted as an impediment to the progress, however, as many commercial spaces were shut down. The return to normalcy post-pandemic saw the market make a swift recovery. By 2022, the market had reached a valuation of US$ 44,200 million.
| Attributes | Details |
|---|---|
| Market Value (2018) | US$ 34,487 million |
| Historical CAGR (2018 to 2022) | 6.4% |
| Historical Market Valuation (2022) | US$ 44,200 million |
The market's progress in the forecast period is set to outpace the growth in the historical period. Increasing adoption of the system in both commercial and residential sectors is set to drive market growth. Growing sustainable trends are also set to help the market in the forecast period as building automation systems aid buildings to be more sustainable.
Technological advances are seeing building automation systems improve in performance. Thus, there is even more scope for saving energy, and building automation systems is seen with a positive attitude. By 2033, the market value for building automation systems is expected to have shot up to US$ 96,264 million.
Principal Consultant
The building automation system market can be segregated into system and application segments. By looking at the segments, the purpose for which the system is most commonly used becomes clear.
Heating, ventilation, and air conditioning (HVAC) systems are the most popular of the building automation systems. In 2023, HVAC systems are expected to account for 30.9% of the market share by system.
HVAC systems are sought to control the air quality in buildings. Energy efficiency is another goal of HVAC systems, with energy conservation playing a big part in helping buildings become eco-friendly.
| Attributes | Details |
|---|---|
| Top System | HVAC |
| Market Share in 2023 | 30.9% |
Commercial sector is where building automation systems find overwhelming application. In 2023, commercial application is anticipated to contribute 65.8% of the market share.
Commercial buildings have enhanced needs regarding security, HVAC, and others. The number of commercial buildings in the form of office buildings, shopping malls, and the like is also increasing. Thus, commercial application of building automation systems is on the rise.
| Attributes | Details |
|---|---|
| Top Application | Commercial |
| Market Share in 2023 | 65.8% |
The market for building automation systems has potential all over the world. However, the Asia Pacific and Europe are regions for the most impressive growth.
The increasing population in Asia Pacific necessitates constructing an increased number of buildings. In Europe, technological advancements are becoming a part of most aspects of daily life. Buildings with smart networked electronic devices are also becoming technologically advanced and attracting a more extensive consumer base.
| Countries | CAGR |
|---|---|
| India | 9.7% |
| China | 9.4% |
| France | 7.7% |
| Italy | 8.1% |
| Japan | 7.8% |
India is one of the rapidly developing countries in the market, from 2023 to 2033, the country is estimated to record an impressive growth of 9.7%.
Security from intrusions is becoming a priority for many businesses and homeowners. Thus, consumers are turning to building automation systems to provide enhanced security.
According to a survey, significant demand for alarm management systems in commercial and residential buildings has been witnessed in 2022. For instance, Honeywell Building Technologies offers suits for occupants that can improve the indoor environment quality by meeting the goal of energy efficiency.
China is a promising country for the market. The CAGR for China over the forecast period is expected to be 9.4%.
The government in China is taking measures to reduce its carbon footprint. Green buildings that primarily focus on reducing energy consumption are one way through which the government is taking a step toward sustainability.
Japan is another Asian country with bright prospects for the market. For the forecast period, the CAGR of the market in Japan is expected to be a robust 7.8%.
The need for a healthier environment and real-time visibility through an interconnected ecosystem is speeding up the market in Japan. For instance, Events like the Tokyo Olympic Games held in 2021 necessitated increased security scrutiny in the country.
Italy is one of the leading countries in Europe for the building automation system market. For the forecast period, the CAGR for Italy is projected to be 8.1%.
Several local companies tussle for the market share in Italy that tracks and collects data 24/7 for energy usage. Duemmegi, Ave, and Galetti are local Italian companies in the building automation system market. Thus, Italy is fertile ground for the market.
France is another European country with potential for the market. During the 2023 to 2033 period, market growth is expected at a promising rate of 7.7% in France.
According to an official French decree, all non-residential service industry buildings are required to install automation systems before January 1, 2025. The French government has an eye on sustainability considerations with the passing of the decree. Thus, France is rapidly becoming a lucrative country for building automation systems.
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Technological innovation and reducing carbon footprint is a priority for market players. With rapid advances, market players are aware that the adoption of the newest technology is necessary to prevent products from becoming obsolete.
Several companies have earned reputable names in the market. However, there is scope for new entrants in the market. Entities that operate on a local scale are thriving in the market.
Recent Developments in the Building Automation System Market
The building automation system market is expected to be worth US$ 47,800 million in 2023.
The market is estimated to get as big as US$ 96,264 million by 2033.
The market is estimated to record a promising growth of 9.7% in India through 2033.
Smart homes and solar energy are some trends in the building automation system market.
Honeywell International, Beijer Electronics, and Siemens AG are some prominent companies.
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Investment Feasibility Matrix
3.5. PESTLE and Porter’s Analysis
3.6. Regulatory Landscape
3.6.1. By Key Regions
3.6.2. By Key Countries
3.7. Regional Parent Market Outlook
4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033
4.1. Historical Market Size Value (US$ Million) Analysis, 2018 to 2022
4.2. Current and Future Market Size Value (US$ Million) Projections, 2023 to 2033
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product Type
5.1. Introduction / Key Findings
5.2. Historical Market Size Value (US$ Million) Analysis By Product Type, 2018 to 2022
5.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Product Type, 2023 to 2033
5.3.1. Hardware
5.3.2. Software
5.3.3. Services
5.4. Y-o-Y Growth Trend Analysis By Product Type, 2018 to 2022
5.5. Absolute $ Opportunity Analysis By Product Type, 2023 to 2033
6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By System Type
6.1. Introduction / Key Findings
6.2. Historical Market Size Value (US$ Million) Analysis By System Type, 2018 to 2022
6.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By System Type, 2023 to 2033
6.3.1. Security & Surveillance
6.3.2. HVAC
6.3.3. Lighting Solutions
6.3.4. BEMS
6.4. Y-o-Y Growth Trend Analysis By System Type, 2018 to 2022
6.5. Absolute $ Opportunity Analysis By System Type, 2023 to 2033
7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application Type
7.1. Introduction / Key Findings
7.2. Historical Market Size Value (US$ Million) Analysis By Application Type , 2018 to 2022
7.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Application Type , 2023 to 2033
7.3.1. Commercial
7.3.2. Residential
7.3.3. Government
7.4. Y-o-Y Growth Trend Analysis By Application Type , 2018 to 2022
7.5. Absolute $ Opportunity Analysis By Application Type , 2023 to 2033
8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region
8.1. Introduction
8.2. Historical Market Size Value (US$ Million) Analysis By Region, 2018 to 2022
8.3. Current Market Size Value (US$ Million) Analysis and Forecast By Region, 2023 to 2033
8.3.1. North America
8.3.2. Latin America
8.3.3. Western Europe
8.3.4. Eastern Europe
8.3.5. South Asia and Pacific
8.3.6. East Asia
8.3.7. Middle East and Africa
8.4. Market Attractiveness Analysis By Region
9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
9.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
9.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
9.2.1. By Country
9.2.1.1. USA
9.2.1.2. Canada
9.2.2. By Product Type
9.2.3. By System Type
9.2.4. By Application Type
9.3. Market Attractiveness Analysis
9.3.1. By Country
9.3.2. By Product Type
9.3.3. By System Type
9.3.4. By Application Type
9.4. Key Takeaways
10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
10.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
10.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
10.2.1. By Country
10.2.1.1. Brazil
10.2.1.2. Mexico
10.2.1.3. Rest of Latin America
10.2.2. By Product Type
10.2.3. By System Type
10.2.4. By Application Type
10.3. Market Attractiveness Analysis
10.3.1. By Country
10.3.2. By Product Type
10.3.3. By System Type
10.3.4. By Application Type
10.4. Key Takeaways
11. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
11.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
11.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
11.2.1. By Country
11.2.1.1. Germany
11.2.1.2. UK
11.2.1.3. France
11.2.1.4. Spain
11.2.1.5. Italy
11.2.1.6. Rest of Western Europe
11.2.2. By Product Type
11.2.3. By System Type
11.2.4. By Application Type
11.3. Market Attractiveness Analysis
11.3.1. By Country
11.3.2. By Product Type
11.3.3. By System Type
11.3.4. By Application Type
11.4. Key Takeaways
12. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
12.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
12.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
12.2.1. By Country
12.2.1.1. Poland
12.2.1.2. Russia
12.2.1.3. Czech Republic
12.2.1.4. Romania
12.2.1.5. Rest of Eastern Europe
12.2.2. By Product Type
12.2.3. By System Type
12.2.4. By Application Type
12.3. Market Attractiveness Analysis
12.3.1. By Country
12.3.2. By Product Type
12.3.3. By System Type
12.3.4. By Application Type
12.4. Key Takeaways
13. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
13.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
13.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
13.2.1. By Country
13.2.1.1. India
13.2.1.2. Bangladesh
13.2.1.3. Australia
13.2.1.4. New Zealand
13.2.1.5. Rest of South Asia and Pacific
13.2.2. By Product Type
13.2.3. By System Type
13.2.4. By Application Type
13.3. Market Attractiveness Analysis
13.3.1. By Country
13.3.2. By Product Type
13.3.3. By System Type
13.3.4. By Application Type
13.4. Key Takeaways
14. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
14.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
14.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
14.2.1. By Country
14.2.1.1. China
14.2.1.2. Japan
14.2.1.3. South Korea
14.2.2. By Product Type
14.2.3. By System Type
14.2.4. By Application Type
14.3. Market Attractiveness Analysis
14.3.1. By Country
14.3.2. By Product Type
14.3.3. By System Type
14.3.4. By Application Type
14.4. Key Takeaways
15. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
15.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
15.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
15.2.1. By Country
15.2.1.1. GCC Countries
15.2.1.2. South Africa
15.2.1.3. Israel
15.2.1.4. Rest of MEA
15.2.2. By Product Type
15.2.3. By System Type
15.2.4. By Application Type
15.3. Market Attractiveness Analysis
15.3.1. By Country
15.3.2. By Product Type
15.3.3. By System Type
15.3.4. By Application Type
15.4. Key Takeaways
16. Key Countries Market Analysis
16.1. USA
16.1.1. Pricing Analysis
16.1.2. Market Share Analysis, 2022
16.1.2.1. By Product Type
16.1.2.2. By System Type
16.1.2.3. By Application Type
16.2. Canada
16.2.1. Pricing Analysis
16.2.2. Market Share Analysis, 2022
16.2.2.1. By Product Type
16.2.2.2. By System Type
16.2.2.3. By Application Type
16.3. Brazil
16.3.1. Pricing Analysis
16.3.2. Market Share Analysis, 2022
16.3.2.1. By Product Type
16.3.2.2. By System Type
16.3.2.3. By Application Type
16.4. Mexico
16.4.1. Pricing Analysis
16.4.2. Market Share Analysis, 2022
16.4.2.1. By Product Type
16.4.2.2. By System Type
16.4.2.3. By Application Type
16.5. Germany
16.5.1. Pricing Analysis
16.5.2. Market Share Analysis, 2022
16.5.2.1. By Product Type
16.5.2.2. By System Type
16.5.2.3. By Application Type
16.6. UK
16.6.1. Pricing Analysis
16.6.2. Market Share Analysis, 2022
16.6.2.1. By Product Type
16.6.2.2. By System Type
16.6.2.3. By Application Type
16.7. France
16.7.1. Pricing Analysis
16.7.2. Market Share Analysis, 2022
16.7.2.1. By Product Type
16.7.2.2. By System Type
16.7.2.3. By Application Type
16.8. Spain
16.8.1. Pricing Analysis
16.8.2. Market Share Analysis, 2022
16.8.2.1. By Product Type
16.8.2.2. By System Type
16.8.2.3. By Application Type
16.9. Italy
16.9.1. Pricing Analysis
16.9.2. Market Share Analysis, 2022
16.9.2.1. By Product Type
16.9.2.2. By System Type
16.9.2.3. By Application Type
16.10. Poland
16.10.1. Pricing Analysis
16.10.2. Market Share Analysis, 2022
16.10.2.1. By Product Type
16.10.2.2. By System Type
16.10.2.3. By Application Type
16.11. Russia
16.11.1. Pricing Analysis
16.11.2. Market Share Analysis, 2022
16.11.2.1. By Product Type
16.11.2.2. By System Type
16.11.2.3. By Application Type
16.12. Czech Republic
16.12.1. Pricing Analysis
16.12.2. Market Share Analysis, 2022
16.12.2.1. By Product Type
16.12.2.2. By System Type
16.12.2.3. By Application Type
16.13. Romania
16.13.1. Pricing Analysis
16.13.2. Market Share Analysis, 2022
16.13.2.1. By Product Type
16.13.2.2. By System Type
16.13.2.3. By Application Type
16.14. India
16.14.1. Pricing Analysis
16.14.2. Market Share Analysis, 2022
16.14.2.1. By Product Type
16.14.2.2. By System Type
16.14.2.3. By Application Type
16.15. Bangladesh
16.15.1. Pricing Analysis
16.15.2. Market Share Analysis, 2022
16.15.2.1. By Product Type
16.15.2.2. By System Type
16.15.2.3. By Application Type
16.16. Australia
16.16.1. Pricing Analysis
16.16.2. Market Share Analysis, 2022
16.16.2.1. By Product Type
16.16.2.2. By System Type
16.16.2.3. By Application Type
16.17. New Zealand
16.17.1. Pricing Analysis
16.17.2. Market Share Analysis, 2022
16.17.2.1. By Product Type
16.17.2.2. By System Type
16.17.2.3. By Application Type
16.18. China
16.18.1. Pricing Analysis
16.18.2. Market Share Analysis, 2022
16.18.2.1. By Product Type
16.18.2.2. By System Type
16.18.2.3. By Application Type
16.19. Japan
16.19.1. Pricing Analysis
16.19.2. Market Share Analysis, 2022
16.19.2.1. By Product Type
16.19.2.2. By System Type
16.19.2.3. By Application Type
16.20. South Korea
16.20.1. Pricing Analysis
16.20.2. Market Share Analysis, 2022
16.20.2.1. By Product Type
16.20.2.2. By System Type
16.20.2.3. By Application Type
16.21. GCC Countries
16.21.1. Pricing Analysis
16.21.2. Market Share Analysis, 2022
16.21.2.1. By Product Type
16.21.2.2. By System Type
16.21.2.3. By Application Type
16.22. South Africa
16.22.1. Pricing Analysis
16.22.2. Market Share Analysis, 2022
16.22.2.1. By Product Type
16.22.2.2. By System Type
16.22.2.3. By Application Type
16.23. Israel
16.23.1. Pricing Analysis
16.23.2. Market Share Analysis, 2022
16.23.2.1. By Product Type
16.23.2.2. By System Type
16.23.2.3. By Application Type
17. Market Structure Analysis
17.1. Competition Dashboard
17.2. Competition Benchmarking
17.3. Market Share Analysis of Top Players
17.3.1. By Regional
17.3.2. By Product Type
17.3.3. By System Type
17.3.4. By Application Type
18. Competition Analysis
18.1. Competition Deep Dive
18.1.1. Honeywell International
18.1.1.1. Overview
18.1.1.2. Product Portfolio
18.1.1.3. Profitability by Market Segments
18.1.1.4. Sales Footprint
18.1.1.5. Strategy Overview
18.1.1.5.1. Marketing Strategy
18.1.2. Beijer Electronics
18.1.2.1. Overview
18.1.2.2. Product Portfolio
18.1.2.3. Profitability by Market Segments
18.1.2.4. Sales Footprint
18.1.2.5. Strategy Overview
18.1.2.5.1. Marketing Strategy
18.1.3. ABB
18.1.3.1. Overview
18.1.3.2. Product Portfolio
18.1.3.3. Profitability by Market Segments
18.1.3.4. Sales Footprint
18.1.3.5. Strategy Overview
18.1.3.5.1. Marketing Strategy
18.1.4. Siemens AG
18.1.4.1. Overview
18.1.4.2. Product Portfolio
18.1.4.3. Profitability by Market Segments
18.1.4.4. Sales Footprint
18.1.4.5. Strategy Overview
18.1.4.5.1. Marketing Strategy
18.1.5. Johnson Controls
18.1.5.1. Overview
18.1.5.2. Product Portfolio
18.1.5.3. Profitability by Market Segments
18.1.5.4. Sales Footprint
18.1.5.5. Strategy Overview
18.1.5.5.1. Marketing Strategy
18.1.6. Schneider Electric
18.1.6.1. Overview
18.1.6.2. Product Portfolio
18.1.6.3. Profitability by Market Segments
18.1.6.4. Sales Footprint
18.1.6.5. Strategy Overview
18.1.6.5.1. Marketing Strategy
18.1.7. General Electric
18.1.7.1. Overview
18.1.7.2. Product Portfolio
18.1.7.3. Profitability by Market Segments
18.1.7.4. Sales Footprint
18.1.7.5. Strategy Overview
18.1.7.5.1. Marketing Strategy
18.1.8. Legrand
18.1.8.1. Overview
18.1.8.2. Product Portfolio
18.1.8.3. Profitability by Market Segments
18.1.8.4. Sales Footprint
18.1.8.5. Strategy Overview
18.1.8.5.1. Marketing Strategy
18.1.9. Lutron Electronics Co
18.1.9.1. Overview
18.1.9.2. Product Portfolio
18.1.9.3. Profitability by Market Segments
18.1.9.4. Sales Footprint
18.1.9.5. Strategy Overview
18.1.9.5.1. Marketing Strategy
18.1.10. Control4 Corporation
18.1.10.1. Overview
18.1.10.2. Product Portfolio
18.1.10.3. Profitability by Market Segments
18.1.10.4. Sales Footprint
18.1.10.5. Strategy Overview
18.1.10.5.1. Marketing Strategy
19. Assumptions & Acronyms Used
20. Research Methodology
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