Building Automation System Market Expected to Reach $194.9
Billion by 2030
“Rising demand for building automation system solutions to help cut down on energy usage is anticipated to
fuel market expansion during the forecast period, contributing to the building automation system market
growth in the upcoming years”
According to Vitika Verma,
Semiconductor and Electronics
⦁ Request Sample : https://www.alliedmarketresearch.com/request-sample/31799
(We are providing report as per your research requirement, including the Latest Industry Insight's Evolution,
Potential and COVID-19 Impact Analysis)
KEY FINDINGS OF THE STUDY
•
•
•
Based on component, the hardware sub-segment emerged as the global leader in 2021 and the
software sub-segment is anticipated to be the fastest growing sub-segment during the forecast period
Based on application, the commercial sub-segment emerged as the global leader in 2021 and the
industrial sub-segment is predicted to show the fastest growth in the upcoming years
Based on offerings, the security and access controls sub-segment emerged as the global leader in 2021
and the building energy management software sub-segment is anticipated to be the fastest growing
sub-segment during the forecast period
Major key players profiled cover in Report:
•
•
•
•
•
Siemens AG
Hubbell Inc
Honeywell International Inc.
Robert Bosch
Schneider Electric
Market dynamics
Drivers
•
•
•
Increasing demand for energy-efficient buildings drives the adoption of Building Automation Systems
(BAS).
Growing focus on sustainability and environmental concerns encourages the implementation of
smart building solutions.
Advancements in IoT (Internet of Things) technology contribute to the expansion of the Building
Automation System market.
Restraints
• Initial Cost Barriers: High upfront costs associated with implementing Building Automation Systems
(BAS) can act as a deterrent for some potential adopters.
• Integration Challenges: Complexities in integrating diverse building systems and legacy infrastructure
can pose a significant restraint to the widespread adoption of Building Automation Systems.
Opportunities
•
•
Increasing demand for energy-efficient buildings drives the growth of the Building Automation System
(BAS) market.
Integration of IoT and AI technologies enhances the capabilities of BAS for smarter and more
responsive building management.
⦁ Report Overview:
https://www.alliedmarketresearch.com/building-automation-system-market-A31349
Analyst Review:
Increase in demand for application is the key factor that is projected to drive the growth of the global building
automation system market during the forecast period. In addition, rising security concerns are expected to
increase demand for integrated security, during the forecasted period. Automate a facility's security and
building automation systems use face recognition and video monitoring.
However, the lack of skilled operators to operate, monitor, and manage building automation systems is
predicted to hinder the market in the projected timeframe. Building automation systems are becoming more
widely used in the hospitality industry, especially those businesses wanting to separate themselves from
competition and concentrate on constructing higher international, best-in-class hotels. Wireless solutions are
widely available from vendors to address crucial challenges including rising energy costs in the hospitality
business.
About Us:
Allied Market Research is market research, consulting, and advisory firm of Allied Analytics LLP. Founded in
2013, the firm has been instrumental in offering high-quality syndicated and customized market research
reports, consulting services, and useful insights to leading market players, startups, investors, and
stakeholders. Driven by the aim to eliminate sub-standard data and become a successful partner for
organizations, Allied Market Research has been innovating continuously, expanding the product & service
portfolio, and implementing the client-first approach since its inception. With the clientele spanning more than
7,000 organizations that also include a majority of Fortune 500 companies, AMR has a proven track record of
helping and serving the global clientele and playing a major role in their success.
Contact Us:
David Correa 1209 Orange Street,
Corporation Trust Center, Wilmington, New Castle
Delaware 19801 USA.
Int’l: +1-503-894-6022
Toll Free: +1-800-792-5285
Fax: +1-800-792-5285
help@alliedmarketresearch.com