High Demand for Wireless Sensor Network Technology will boost the Building Automation System Market

There has been a growing demand for wireless sensor networks (WSN) as its installation costs are lower than traditional BAS. It consists of small sensor nodes that record the environment, perform calculations, and communicate with other nodes through an integrated wireless module. Therefore, new buildings can be equipped with a building automation system based on wireless sensor network technology. Furthermore, wireless sensor networks (WSN) provide sensors that can reduce wiring costs, enhance building security, save significant energy, and increase the demand for building automation systems and thus augmenting the growth of the global building automation system market.

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Data Bridge Market Research analyses that the building automation system market is expected to grow at a CAGR of 9.7% in the forecast period of 2022 to 2029 and is expected to reach USD 160,873,323.76 thousands by 2029. Furthermore, the growing awareness of the consumers regarding the energy-efficient building design during any new construction is effective to make the home more efficient and is also less expensive for a homeowner in the long run. This, as a result, increases the demand for building automation systems and thus contributing to the growth of the global building automation system market.

Building Automation System Market

Growing Popularity of Internet of Things (IoT) based Building Automation Systems Is Expected to Drive the Market's Growth Rate

The advent and subsequent implementation of the Internet of Things (IoT) provide unparalleled analytical insights to help improve the efficiency of the building automation system. The implementation of IoT enables centralized access and control of various building management systems operating within the same building. As buildings have become more data-intensive, traditional storage solutions are being replaced by scalable and cost-effective cloud infrastructure. The Internet of Things (IoT) can significantly improve the performance and efficiency of building management systems. Sensors and actuators in the building can create an intelligent sensor environment that helps collect real-time data of all activities taking place in the building. It also provides a framework for efficiently connecting large numbers of smart devices and provides intelligence to help automate the various daily activities of building residents. As a result, its high popularity is projected to boost market growth rate over the forecast period.

Report Scope and Market Segmentation

Report Metric

Details

Forecast Period

2022 to 2029

Base Year

2021

Historic Years

2020 (Customizable to 2014 - 2019)

Quantitative Units

Revenue in USD Million, Volumes in Units, Pricing in USD

Segments Covered

By System Type (Facility Management Systems (FMS), Fire Protection SystemsSecurity And Access Control Systems, Energy Management Systems, Building Management Software (BMS), and Others), Technology (Wireless Technologies, and Wired Technologies), Application (Commercial, Residential, and Industrial), 

Countries Covered

U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa

Market Players Covered

Vipond Inc. (Canada), EnOcean GmbH (Germany), Infineon Technologies AG (Germany), Intel Corporation (U.S.), Microchip Technology Inc. (U.S.), Qualcomm Technologies, Inc. (U.S.), Creston Electronics (U.S.), Tech Automation Inc. (U.S.), Stanley Black & Decker, Inc. (U.S.), Legrand (France), Siemens (Germany), General Electric (U.S.), BuildingIQ (U.S.), Honeywell International Inc. (U.S.), Robert Bosch GmbH (Germany), Johnson Controls (Ireland), Securitas AB (Sweden), Convergint Technologies LLC (U.S.), Beckhoff Automation (Germany), Ingersoll Rand (U.S.)

Data Points Covered in Report

In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.

Segment Analysis:

Global building automation system market is segmented into three notable segments which are based on the system type, technology and application.

  • On the basis of system type, the global building automation system market is segmented into facility management systems (FMS), fire protection systems, security and access control systems, energy management systems, building management software (BMS) and others. In 2022, the facility management systems (FMS) segment is expected to dominate the global building automation system market growing at the highest CAGR of 10.0% in the forecast period of 2022 to 2029. The facility management systems (FMS) is expected to dominate the global building automation system market as it supports efficient functionality of buildings, provide better time management for the building owner, maintains to keep the building sustainable by providing automation solutions, provides safety to buildings and most importantly, improves work productivity while avoiding the need to constantly perform maintenance in the buildings which increases its demand globally.
  • On the basis of technology, global building automation system market is segmented into wireless technologies and wired technologies. In 2022, the wireless technologies segment is expected to dominate global building automation system market, growing at the highest CAGR of 9.9%

The wireless technologies segment is expected to dominate global building automation system market.

In 2022, the wireless technologies segment is expected to dominate global building automation system market, growing at the highest CAGR of 9.9% in the forecast period of 2022 to 2029. The wireless technologies are expected to dominate the global building automation system market as it easy to expand and set up and it is cheaper to install and maintain which increases its demand globally. Moreover, the data transmission is faster in wireless technologies. It also provides instant help during emergencies. It can be accessed from anywhere and anytime, which increases its demand across the globe.

  • On the basis of application, the global building automation system market is segmented into segmented into commercial, residential and industrial. In 2022, the residential segment is expected to dominate the global building automation system market, growing at the highest CAGR of 10.0% in the forecast period of 2022 to 2029. The residential segment is expected to dominate the global building automation system market as building automation system helps to reduce the risk of thieves in residency areas and keep the building safe and sustainable, which boosts its demand across the residential sectors.

Major Players                       

Data Bridge Market Research recognizes the following companies as the major building automation system market players in building automation system market are Vipond Inc. (Canada), EnOcean GmbH (Germany), Infineon Technologies AG (Germany), Intel Corporation (U.S.), Microchip Technology Inc. (U.S.), Qualcomm Technologies, Inc. (U.S.), Creston Electronics (U.S.), Tech Automation Inc. (U.S.), Stanley Black & Decker, Inc. (U.S.), Legrand (France), Siemens (Germany), General Electric (U.S.), BuildingIQ (U.S.), Honeywell International Inc. (U.S.), Robert Bosch GmbH (Germany), Johnson Controls (Ireland), Securitas AB (Sweden), Convergint Technologies LLC (U.S.), Beckhoff Automation (Germany), Ingersoll Rand (U.S.)among others.

Building Automation System Market

Market Development

  • In January 2022, Johnson Controls acquired FogHorn, the leading developer of Edge AI software for industrial and commercial Internet of Things (IoT) solutions. This will help the company to expand its business and accelerate its innovation and vision for smart autonomous buildings
  • In January 2022, Honeywell International Inc. participated in Intersec 2022 in Dubai with an array of Building Technologies, including Fire & Safety, Healthy Buildings, and Cybersecurity. This has helped the company to attract important global experts and influencers
  • In October 2021, Robert Bosch GmbH, Escrypt, Kapsch, Nokia, and Deutsche Telekom collaborated as partners in the publicly funded CONCORDA project in a consortium headed by Ertico. This technology poses continuous, secure data transmission by supporting assistance systems in safety-critical driving situations. This has helped the company to expand its business.
  • In August 2020, Siemens introduced the Desigo PXC4 for HVAC plants and the Desigo PXC5 for HVAC system function and integration. These new generation Desigo building automation controllers assist in automating small and medium-sized buildings to achieve the most flexible and scalable building automation.

Regional Analysis

Geographically, the countries covered in the building automation system market report are U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa(MEA) as a part of Middle East and Africa(MEA).

As per Data Bridge Market Research analysis:

North America is the dominant region in building automation system market during the forecast period

North America dominated the building automation system market owing to the high demand for energy-efficient building systems. North America will continue to dominate the building automation system market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period. This is due to the increasing usage of building automation systems in the region's residential sector within this region.

Asia-Pacific is estimated to be the fastest growing region in building automation system market

Asia-Pacific is expected to grow during the forecast period due to the shifting consumer preference for HVAC control systems, increasing the demand for building automation systems in this region. In addition to this, growing demand for wireless sensor network (WSN) are also expected propel the market's growth rate in this region.

COVID-19 Impact Analysis

The outbreak of COVID-19 largely impacted the building automation system market. Prior to COVID-19, real estate investments generated consistent cash flow and returns for global players in this sector. However, the outbreak and spread of COVID-19 caused rapid changes in this scenario, with the virus significantly impacting the real estate sector. Because these geographies are the largest consumers of building automation systems, this has had an impact on the market's growth. Individuals investing in real estate are declining as a result of the Covid-19.

However, the various industrial operations have resumed, which positively impacts the Building Automation System Market. After the COVID phase, the building automation system market trends will see a steady demand flow during the projection period.

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