According to the latest report by Intent Market Research, the Building Automation System Market was valued at $84.2 billion in 2023 and is projected to grow at a 13.2% CAGR, reaching $200.6 billion by 2030. The market’s growth is driven by the increasing adoption of IoT in building automation.
The increasing adoption of IoT in automating the devices such as HVAC, lighting, and surveillance is driving the Building Automation System (BAS) market. IoT enables efficient operation of devices and helps in reducing overall operational cost of the building. It also provides enhanced building security, and remote access & control.
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Building automation is experiencing significant growth in facility management. Intelligent building can control systems such as HVAC, lighting, etc. to improve energy usage of building. With the integration of automation system, into one centralized control system, facility managers can improve the monitoring of systems in real time, thereby, ensuring optimal functionality of devices.
Security & access control are the preferred choice of commercial users for integrating IoT system in improving building security. With the advancement in edge computing, the adoption of video surveillance is rising across commercial, residential, and industrial buildings. BAS allows an operator to monitor the person entering the building.
Building automation finds its application in commercial, residential and industrial buildings. With the progress of smart cities, smart buildings and Industry 4.0, there is increasing adoption of IoT and other automation technologies from the end-users. The commercial segment accounted for a significant market share in 2023 with increasing adoption of security systems in offices and commercial spaces.
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A strong focus on sustainability is driving the Europe’s building automation system market. European Union, along with several regional governments have drafted policies that can address climate change and improve sustainability. The EU’s Energy Performance of Buildings Directive (EPBD) is the legal framework under which member states are implementing national laws to improve the efficiency of the built environment.
In Europe, a regulatory decree will be required for Building Automation Control Systems (BACS) in tertiary buildings by January 2025 to improve energy efficiency and reduce CO2 emissions. In January 2021, Germany announced its funding for smart buildings, with the launch of the BEG (Bundesförderung für effiziente Gebäude).
Major players operating in the global BAS market are ABB, Bosch, Emerson, General Electric, Honeywell, Hubbell, Johnson Controls, Mitsubishi Electric, Schneider Electric, Siemens, among others. The major players operating in the market have adopted several growth strategies such as investment in R&D, new product launch and product enhancement, partnership & collaboration, etc. to improve their market share. Some of the strategic development in the market are as mentioned below:
- In November 2023, Samsung C&T and ABB enter into an agreement to integrate Samsung’s property management system with ABB’s home automation. With this partnership, both the companies expected to explore joint innovation opportunities for commercial and residential properties, particularly in automation, energy management and service systems.
- In March 2023, Siemens Smart Infrastructure has launched Connect Box, an IoT solution designed to manage small to medium-sized buildings. Connect Box can be used for monitoring building performance, with the potential to optimize energy efficiency by up to 30%. It can also substantially improve indoor air quality in small to medium sized buildings such as schools, retail shops, apartments or small offices.
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