Building Automation Systems (BAS) Market to Surpass US $ 44.6 Billion in 2021, Thanks to Investment in Smart Cities and Energy Efficient Buildings: Future Market Outlook

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DUBAI, United Arab Emirates, October 7, 2021 / PRNewswire / – The World Building Automation Systems (BAS) Market Demand outlook will remain positive with sales expected to increase at a robust 7.8% CAGR during the forecast period (2021-2031), projects Future Market Insights (FMI) in its latest study.

The market will experience tremendous growth as the demand for energy efficient infrastructure continues to increase. Emergence of smart cities and industrial Internet of Things (IIoT) technology, especially in East Asia will continue to increase market growth.

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Historically, the demand for building automation systems has grown at a constant rate of 5.7% CAGR between 2016 and 2020. However, with an increasing demand for energy efficient buildings and the need for robust interconnected infrastructure for recreation and convenience, the adoption of building automation systems has increased in recent years.

Rapid integration of artificial intelligence, machine learning, and cloud computing into building automation systems to provide secure and intelligent monitoring services will increase market growth through 2031.

As consumers increasingly seek to improve their lifestyles, the need for smart connected buildings, energy efficient lighting systems and secure machine interconnectivity grows. This provides favorable winds for the adoption of BAS.

Supportive initiatives launched by various governments to promote the smart cities agenda, especially in countries such as China, India, and Japan, create an environment conducive to the growth of the BAS market.

At the same time, the growth of the commercial sector, coupled with the need to upgrade security systems and temperature control in schools, hospitals and industrial offices, will fuel demand until 2031.

“Due to the growing demand for energy efficient and smart infrastructure, reliance on building automation system services has grown exponentially, in both commercial and residential sectors. In order to capitalize on these opportunities, market players are increasing adoption of IIoT technology, artificial intelligence and machine learning. This should create incremental growth opportunities for the market ”, said the IMF analyst.

Key takeaways from the IMF Building automation systems Market research

  • The demand for security and surveillance building automation systems will increase at a remarkable rate during the forecast period
  • The US building automation systems market will account for the highest growth through North America, increasing to 7.2% CAGR over the projection period
  • Supported by favorable government initiatives to promote energy efficient infrastructure, the UK market is expected to experience positive growth at 7% CAGR
  • Sale of building automation systems to China are expected to grow at an impressive rate supported by government initiatives to promote smart building infrastructure
  • Growth prospects in South Korea and Japan are expected to remain positive, capturing 7% global market share

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Key factors

  • Investments in the construction of energy efficient buildings are increasing worldwide. This will improve the adoption of building automation systems
  • The rapid growth of the construction and infrastructure industry, followed by increasing penetration of Industrial Internet of Things (IIoT) technology will increase the market growth
  • The development of a network of wireless sensors and wireless protocols for BAS will drive the growth of the market in the coming years

Key restrictions:

  • The reluctance of end users and building owners to implement building automation systems due to their misconception of high installation cost is likely to hamper sales
  • Presence of alternative communication controls, as well as lack of interoperability will hamper sales of building automation systems

Competitive landscape

The presence of established players in the building automation systems market has led to market consolidation, notes IMF in its latest report. Siemens AG, Honeywell International, ABB, Schneider Electric and Johnson Controls PLC are identified as the top 5 players by Future Market Insights.

To gain competitive advantage in the market, major players focus on product development and in-depth research and development. On top of that, they invest in strategic alliances with other key manufacturers through mergers and acquisitions.

For example,

  • In August 2021, Schneider Electric announced the partnership with the American Power Conversion line for uninterruptible power supplies and to provide improved visibility and front-end maintenance on their customers’ UPS systems.
  • In January 2021, ABB Smart Buildings unveiled its FLXeon BACnet / IP automation control solutions to deliver powerful connectivity and visualization of smart buildings.
  • In March 2020, FSG Smart Buildings, a division of Facility Solutions Group, announced the launch of Chariot, a building automation systems software with robust energy management system (EMS) capabilities combining HVAC controls and lighting with smart meters and Internet of Thinking (IoT) devices for multiple site control.

Some of the major players operating in the building automation systems industry market profiled by IMF are:

  • Honeywell International
  • Schneider Electric
  • Siemens AG
  • ABB
  • Johnson Controls, Plc
  • Delta Electronics, Inc.
  • Eaton Company
  • Bosch Rexroth
  • Emerson
  • AVASGLO Group
  • Signelle Technologies (India) Pvt. Ltd.
  • Comnatz Thailand Company Ltd
  • Deos SA
  • MCS Automation Technology Company Ltd.
  • Philips lighting
  • Others

For any questions related to the report, ask a [email protected] https://www.futuremarketinsights.com/ask-question/rep-gb-2150

More valuable information on Building automation systems Marlet

IMF in its new report offers an unbiased analysis of the global building automation systems market, analyzing forecast statistics to 2021 and beyond. The survey reveals market growth projections of Building Automation Systems industry with detailed segmentation:

By product:

  • Equipment
  • Software
  • Services

By type of system:

  • Security surveillance
  • HVAC
  • Lighting solutions
  • BEMS (Building energy management)

By type of application:

  • Commercial
  • Residential
  • Government

By region:

  • North America
  • Latin America
  • Europe
  • South Asia
  • East Asia
  • Oceania
  • Middle East and Africa

We offer tailor-made solutions to meet your needs, ask [email protected] https://www.futuremarketinsights.com/customization-available/rep-gb-2150

Key questions addressed in the report

  • The report provides an overview of the demand outlook of the building automation systems market for the forecast period 2021-2031
  • The market study also highlights the forecasted sales growth for the building automation systems market between 2021 and 2031.
  • The Building Automation Systems market research identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluating the current market size and forecast and advancement technological within the industry
  • Building automation systems market share analysis, covering key companies in the sector and coverage of strategies such as mergers and acquisitions, joint ventures, collaborations or partnerships etc.

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About Future Market Insights (FMI)

Future Market Insights (FMI) is a leading provider of business information and advisory services, serving clients in more than 150 countries. IMF has its seat at Dubai, and has delivery centers in UK, US and India. the last IMF market research reports and industry analysis help companies face challenges and make critical decisions with confidence and clarity amid fierce competition. Our personalized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of analysts led by FMI experts continually monitors emerging trends and events across a wide range of industries to ensure our clients are preparing for the changing needs of their consumers.

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