The building automation system market size is projected to reach US$ 167.40 billion by 2031 from US$ 76.75 billion in 2023. The market is expected to register a CAGR of 10.2% during 2023–2031. Consumer IoT, IP-based devices, SaaS, and other technological developments are likely to remain the key trends in the market.
Building Automation System Market Analysis
The growing construction activities and increasing demand for smart buildings worldwide are the major factors fueling the market growth. Building automation systems use sophisticated sensors, actuators, and networking technologies to provide centralized control and monitoring of building systems, such as HVAC, lighting, security, access control, and energy management. These technologies are designed to maximize building efficiency, lower energy usage, simplify facility management procedures, and guarantee adherence to regulations and standards, further raising its demand in the building automation system market. The rising technological advancements, such as the integration of IoT, IP-based devices, SaaS, machine learning, and other technologies, are also expected to bring new trends in the coming years.
Building Automation System Market Overview
A building automation system (BAS) enables an operator to access, control, and monitor all connected building systems via a single interface. BAS technology allows an owner to use networked electronic devices to obtain centralized management over the operations of their building. To maintain occupant comfort, the systems control ventilation, humidity, lighting, and temperature. Occupancy sensors and scheduling help to minimize energy waste by modifying environmental systems while not in use. Additionally, it ensures that every system is running at optimal efficiency and accurately. Operators are notified by sensors when preventative maintenance is necessary. The building's fire, access, and surveillance systems are all integrated to protect the safety of the building and its people.
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Building Automation System Market: Strategic Insights
Market Size Value in US$ 76.75 billion in 2022 Market Size Value by US$ 167.40 billion by 2030 Growth rate CAGR of 10.2% from 2022 to 2030 Forecast Period 2022-2030 Base Year 2022
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Building Automation System Market: Strategic Insights
| Market Size Value in | US$ 76.75 billion in 2022 |
| Market Size Value by | US$ 167.40 billion by 2030 |
| Growth rate | CAGR of 10.2% from 2022 to 2030 |
| Forecast Period | 2022-2030 |
| Base Year | 2022 |
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Building Automation System Market Drivers and Opportunities
Growing Need for Enhanced Comfort, Safety, and Security
Building automation systems improve a building's security system by offering cutting-edge instruments and techniques. It provides better security to the building's occupants and helps to protect assets, corporate resources, property, and IT data. In addition to preventing property damage and theft, the system may guard against employee tampering and theft. The elevator access control system in the building restricts access to select floors and regions within the building that the management staff deems restricted. In addition, the system guards against security breaches and allows temporary traffic to be directed within the facility. Only authorized personnel are granted access through the use of time and day scheduling constraints in access control management. Furthermore, every activity occurring on the property grounds and within the building is recorded and stored by access control software. Moreover, the system can also be programmed to detect possible safety issues, such as gas leaks or fires, and take appropriate action to limit these risks.
Growing Need for Sustainable Building Automation Solutions
Sustainable buildings aim to minimize energy consumption and carbon emissions. BAS can monitor, control, and optimize HVAC, lighting, and other systems based on occupancy and environmental conditions. With an increasing shift toward renewable energy sources, such as solar and wind, BAS can intelligently manage the integration and utilization of these sources within building operations, ensuring optimal energy use and substantial cost savings. BAS provides real-time data on energy usage and environmental metrics, facilitating informed decision-making for energy conservation strategies and compliance with sustainability standards and regulations. Sustainable buildings prioritize occupant comfort and health. BAS can maintain indoor air quality, regulate temperature, and optimize natural lighting, contributing to enhanced occupant satisfaction and productivity. Also, sustainable BAS solutions result in cost savings due to reduced energy expenses, lower maintenance needs, and prolonged equipment life, making them financially attractive for building owners and operators. The use of sustainable solutions aligns with global sustainability goals, improving energy efficiency, enhancing occupant comfort, and offering significant economic benefits for building owners and operators. Thus, the growing need for sustainable building automation solutions across industries is expected to create significant opportunities for the building automation market growth during the forecast period.
Building Automation System Market Report Segmentation Analysis
Key segments that contributed to the derivation of the building automation system market analysis are component and end users.
- Based on component, the market is segmented into hardware and software and services. The hardware segment held a larger market share in 2023. Building automation hardware uses sensors and controls to monitor and adjust a building's utilities, namely, electricity, heating and air-conditioning, and water and sewer. The hardware components of building automation systems include thermostats (used to control room temperature), occupancy sensors (used to control lighting), humidity sensors, fire and smoke detectors, and security and surveillance systems. The market for the hardware segment is further segmented into security and surveillance systems, facility management systems, fire protection systems, and others. Various companies offering building automation hardware include Bosch Sicherheitssysteme GmbH, Lutron Electronics Co. Inc, and Trane.
- Based on end user, the market is segmented into commercial, industrial, and residential. The commercial segment dominated the market in 2023. In commercial buildings, BAS is implemented to manage internal temperatures and lighting based on occupancy, time of year, or other significant parameters. Building control systems regulate the operations of heating and cooling equipment and lighting systems to maintain a conducive environment to stimulate the production of personnel appointed in the facility while also conserving energy when certain areas are not in use. In addition, using a commercial BAS proves to be beneficial for maintenance and administration workers. The team is notified upon the detection of abnormalities as system and component performance are regularly monitored.
Building Automation System Market Share Analysis by Geography
The geographic scope of the building automation system market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
North America held the largest share of the building automation system market in 2023, followed by Europe and Asia Pacific. The North America market is likely to grow during the forecast period due to an increase in construction activity across the region and the economic growth of several states. Building automation systems are widely used to achieve energy efficiency, as this directly correlates with financial savings. Countries such as the US and Canada are building smart cities at a rapid pace, which is expected to provide an opportunity for the growth of the building automation system market during the forecast period.
The construction industry has experienced tremendous growth in Europe, mainly in terms of new construction, which is expected to bolster the building automation system market in the region. The construction industry in Europe plays an important role in the economy, employing ~18 million people in the workforce and contributing to 9% of the total GDP of the European Union. The industry is focused on creating new residential, industrial, and commercial facilities, building infrastructure, and maintaining and repairing mature structures and buildings. Governments of various countries in Europe are increasingly involved in initiating various major construction projects, which is expected to boost the adoption of building automation systems in the European Union in the coming years.
Building Automation System Market Report Scope
Building Automation System Market News and Recent Developments
The building automation system market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the building automation system market are listed below:
- Honeywell and Analog Devices, Inc. announced at CES 2024 that they have entered into a Memorandum of Understanding to explore the digitization of commercial buildings by upgrading to digital connectivity technologies without replacing existing wiring, which will help reduce cost, waste, and downtime. The strategic alliance would bring this new technology to building management systems for the first time.
(Source: Honeywell International Inc., Press Release, January 2024)
- Siemens Smart Infrastructure has launched Connect Box, an open and easy-to-use IoT solution designed to manage small to medium-sized buildings. The latest addition to the Siemens Xcelerator portfolio, Connect Box, is a user-friendly approach for monitoring building performance, with the potential to optimize energy efficiency by up to 30 percent and to substantially improve indoor air quality in small to medium-sized buildings such as schools retail shops, apartments or small offices. Siemens Xcelerator is an open digital business platform that enables customers to accelerate their digital transformation easier, faster and at scale.
(Source: Siemens, Press Release, March 2023)
Building Automation System Market Report Coverage and Deliverables
The “Building Automation System Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Building automation system market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Building automation system market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Building automation system market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the building automation system market
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Component, and End User
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
The market is anticipated to expand at a CAGR of 10.2% during 2023-2031.
Honeywell International Inc., Schneider Electric, Johnson Controls, ABB, and Siemens are major players in the market.
The market is expected to reach a value of US$ 167.40 billion by 2031.
North America dominated the building automation system market in 2023.
Consumer IoT, IP-based devices, SaaS, and other technological developments a key trend in the market.
The rise in need for enhanced comfort, safety, & security among building occupants and the integration of wireless sensor network technology & wireless protocols with building automation systems are driving the market growth.
1. Introduction
1.1 The Insight Partners Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness
3. Research Methodology
1.1 Secondary Research
1.2 Primary Research
3.1.1 Hypothesis formulation:
3.1.2 Macro-economic factor analysis:
3.1.3 Developing base number:
3.1.4 Data Triangulation:
3.1.5 Country level data:
4. Building Automation System Market Landscape
4.1 Overview
4.2 PEST Analysis
4.3 Ecosystem Analysis
4.3.1 List of Vendors in the Value Chain
5. Building Automation System Market – Key Market Dynamics
5.1 Building Automation System Market – Key Market Dynamics
5.2 Market Drivers
5.2.1 Rise in Need for Enhanced Comfort, Safety, and Security Among Building Occupants
5.2.2 Integration of Wireless Sensor Network Technology and Wireless Protocols with Building Automation Systems
5.3 Market Restraints
5.3.1 Lack of Skilled Professionals
5.3.2 High Installation and Implementation Cost
5.4 Market Opportunities
5.4.1 Growing Need for Sustainable Building Automation Solutions
5.4.2 Rising Initiatives in Smart City Projects
5.5 Future Trends
5.5.1 Consumer IoT, IP-based Devices, SaaS, and Other Technological Developments
5.6 Impact of Drivers and Restraints:
6. Building Automation System Market – Global Market Analysis
6.1 Building Automation System Market Revenue (US$ Million), 2021–2031
6.2 Building Automation System Market Forecast Analysis
7. Building Automation System Market Analysis – by Component
7.1 Hardware
7.1.1 Overview
7.1.2 Hardware: Building Automation System Market – Revenue and Forecast to 2031 (US$ Million)
7.2 Software and Services
7.2.1 Overview
7.2.2 Software and Services: Building Automation System Market – Revenue and Forecast to 2031 (US$ Million)
8. Building Automation System Market Analysis – by End Users
8.1 Commercial
8.1.1 Overview
8.1.2 Commercial: Building Automation System Market – Revenue and Forecast to 2031 (US$ Million)
8.2 Industrial
8.2.1 Overview
8.2.2 Industrial: Building Automation System Market – Revenue and Forecast to 2031 (US$ Million)
8.3 Residential
8.3.1 Overview
8.3.2 Residential: Building Automation System Market – Revenue and Forecast to 2031 (US$ Million)
9. Building Automation System Market – Geographical Analysis
9.1 Overview
9.2 North America
9.2.1 North America Building Automation System Market Overview
9.2.2 North America: Building Automation System Market – Revenue and Forecast to 2031 (US$ Million)
9.2.3 North America: Building Automation System Market Breakdown, by Component
9.2.3.1 North America: Building Automation System Market – Revenue and Forecast Analysis – by Component
9.2.4 North America: Building Automation System Market Breakdown, by Hardware
9.2.4.1 North America: Building Automation System Market – Revenue and Forecast Analysis – by Hardware
9.2.5 North America: Building Automation System Market Breakdown, by End Users
9.2.5.1 North America: Building Automation System Market – Revenue and Forecast Analysis – by End Users
9.2.6 North America: Building Automation System Market – Revenue and Forecast Analysis – by Country
9.2.6.1 North America: Building Automation System Market – Revenue and Forecast Analysis – by Country
9.2.6.2 United States: Building Automation System Market – Revenue and Forecast to 2031 (US$ Million)
9.2.6.2.1 United States: Building Automation System Market Breakdown, by Component
9.2.6.2.2 United States: Building Automation System Market Breakdown, by Hardware
9.2.6.2.3 United States: Building Automation System Market Breakdown, by End Users
9.2.6.3 Canada: Building Automation System Market – Revenue and Forecast to 2031 (US$ Million)
9.2.6.3.1 Canada: Building Automation System Market Breakdown, by Component
9.2.6.3.2 Canada: Building Automation System Market Breakdown, by Hardware
9.2.6.3.3 Canada: Building Automation System Market Breakdown, by End Users
9.2.6.4 Mexico: Building Automation System Market – Revenue and Forecast to 2031 (US$ Million)
9.2.6.4.1 Mexico: Building Automation System Market Breakdown, by Component
9.2.6.4.2 Mexico: Building Automation System Market Breakdown, by Hardware
9.2.6.4.3 Mexico: Building Automation System Market Breakdown, by End Users
9.3 Europe
9.3.1 Europe Building Automation System Market Overview
9.3.2 Europe: Building Automation System Market – Revenue and Forecast to 2031 (US$ Million)
9.3.3 Europe: Building Automation System Market Breakdown, by Component
9.3.3.1 Europe: Building Automation System Market – Revenue and Forecast Analysis – by Component
9.3.4 Europe: Building Automation System Market Breakdown, by Hardware
9.3.4.1 Europe: Building Automation System Market – Revenue and Forecast Analysis – by Hardware
9.3.5 Europe: Building Automation System Market Breakdown, by End Users
9.3.5.1 Europe: Building Automation System Market – Revenue and Forecast Analysis – by End Users
9.3.6 Europe: Building Automation System Market – Revenue and Forecast Analysis – by Country
9.3.6.1 Europe: Building Automation System Market – Revenue and Forecast Analysis – by Country
9.3.6.2 France: Building Automation System Market – Revenue and Forecast to 2031 (US$ Million)
9.3.6.2.1 France: Building Automation System Market Breakdown, by Component
9.3.6.2.2 France: Building Automation System Market Breakdown, by Hardware
9.3.6.2.3 France: Building Automation System Market Breakdown, by End Users
9.3.6.3 Germany: Building Automation System Market – Revenue and Forecast to 2031 (US$ Million)
9.3.6.3.1 Germany: Building Automation System Market Breakdown, by Component
9.3.6.3.2 Germany: Building Automation System Market Breakdown, by Hardware
9.3.6.3.3 Germany: Building Automation System Market Breakdown, by End Users
9.3.6.4 United Kingdom: Building Automation System Market – Revenue and Forecast to 2031 (US$ Million)
9.3.6.4.1 United Kingdom: Building Automation System Market Breakdown, by Component
9.3.6.4.2 United Kingdom: Building Automation System Market Breakdown, by Hardware
9.3.6.4.3 United Kingdom: Building Automation System Market Breakdown, by End Users
9.3.6.5 Italy: Building Automation System Market – Revenue and Forecast to 2031 (US$ Million)
9.3.6.5.1 Italy: Building Automation System Market Breakdown, by Component
9.3.6.5.2 Italy: Building Automation System Market Breakdown, by Hardware
9.3.6.5.3 Italy: Building Automation System Market Breakdown, by End Users
9.3.6.6 Russian Federation: Building Automation System Market – Revenue and Forecast to 2031 (US$ Million)
9.3.6.6.1 Russian Federation: Building Automation System Market Breakdown, by Component
9.3.6.6.2 Russian Federation: Building Automation System Market Breakdown, by Hardware
9.3.6.6.3 Russian Federation: Building Automation System Market Breakdown, by End Users
9.3.6.7 Rest of Europe: Building Automation System Market – Revenue and Forecast to 2031 (US$ Million)
9.3.6.7.1 Rest of Europe: Building Automation System Market Breakdown, by Component
9.3.6.7.2 Rest of Europe: Building Automation System Market Breakdown, by Hardware
9.3.6.7.3 Rest of Europe: Building Automation System Market Breakdown, by End Users
9.4 Asia Pacific
9.4.1 Asia Pacific Building Automation System Market Overview
9.4.2 Asia Pacific: Building Automation System Market – Revenue and Forecast to 2031 (US$ Million)
9.4.3 Asia Pacific: Building Automation System Market Breakdown, by Component
9.4.3.1 Asia Pacific: Building Automation System Market – Revenue and Forecast Analysis – by Component
9.4.4 Asia Pacific: Building Automation System Market Breakdown, by Hardware
9.4.4.1 Asia Pacific: Building Automation System Market – Revenue and Forecast Analysis – by Hardware
9.4.5 Asia Pacific: Building Automation System Market Breakdown, by End Users
9.4.5.1 Asia Pacific: Building Automation System Market – Revenue and Forecast Analysis – by End Users
9.4.6 Asia Pacific: Building Automation System Market – Revenue and Forecast Analysis – by Country
9.4.6.1 Asia Pacific: Building Automation System Market – Revenue and Forecast Analysis – by Country
9.4.6.2 Australia: Building Automation System Market – Revenue and Forecast to 2031 (US$ Million)
9.4.6.2.1 Australia: Building Automation System Market Breakdown, by Component
9.4.6.2.2 Australia: Building Automation System Market Breakdown, by Hardware
9.4.6.2.3 Australia: Building Automation System Market Breakdown, by End Users
9.4.6.3 China: Building Automation System Market – Revenue and Forecast to 2031 (US$ Million)
9.4.6.3.1 China: Building Automation System Market Breakdown, by Component
9.4.6.3.2 China: Building Automation System Market Breakdown, by Hardware
9.4.6.3.3 China: Building Automation System Market Breakdown, by End Users
9.4.6.4 India: Building Automation System Market – Revenue and Forecast to 2031 (US$ Million)
9.4.6.4.1 India: Building Automation System Market Breakdown, by Component
9.4.6.4.2 India: Building Automation System Market Breakdown, by Hardware
9.4.6.4.3 India: Building Automation System Market Breakdown, by End Users
9.4.6.5 Japan: Building Automation System Market – Revenue and Forecast to 2031 (US$ Million)
9.4.6.5.1 Japan: Building Automation System Market Breakdown, by Component
9.4.6.5.2 Japan: Building Automation System Market Breakdown, by Hardware
9.4.6.5.3 Japan: Building Automation System Market Breakdown, by End Users
9.4.6.6 South Korea: Building Automation System Market – Revenue and Forecast to 2031 (US$ Million)
9.4.6.6.1 South Korea: Building Automation System Market Breakdown, by Component
9.4.6.6.2 South Korea: Building Automation System Market Breakdown, by Hardware
9.4.6.6.3 South Korea: Building Automation System Market Breakdown, by End Users
9.4.6.7 Rest of APAC: Building Automation System Market – Revenue and Forecast to 2031 (US$ Million)
9.4.6.7.1 Rest of APAC: Building Automation System Market Breakdown, by Component
9.4.6.7.2 Rest of APAC: Building Automation System Market Breakdown, by Hardware
9.4.6.7.3 Rest of APAC: Building Automation System Market Breakdown, by End Users
9.5 Middle East and Africa
9.5.1 Middle East and Africa Building Automation System Market Overview
9.5.2 Middle East and Africa: Building Automation System Market – Revenue and Forecast to 2031 (US$ Million)
9.5.3 Middle East and Africa: Building Automation System Market Breakdown, by Component
9.5.3.1 Middle East and Africa: Building Automation System Market – Revenue and Forecast Analysis – by Component
9.5.4 Middle East and Africa: Building Automation System Market Breakdown, by Hardware
9.5.4.1 Middle East and Africa: Building Automation System Market – Revenue and Forecast Analysis – by Hardware
9.5.5 Middle East and Africa: Building Automation System Market Breakdown, by End Users
9.5.5.1 Middle East and Africa: Building Automation System Market – Revenue and Forecast Analysis – by End Users
9.5.6 Middle East and Africa: Building Automation System Market – Revenue and Forecast Analysis – by Country
9.5.6.1 Middle East and Africa: Building Automation System Market – Revenue and Forecast Analysis – by Country
9.5.6.2 South Africa: Building Automation System Market – Revenue and Forecast to 2031 (US$ Million)
9.5.6.2.1 South Africa: Building Automation System Market Breakdown, by Component
9.5.6.2.2 South Africa: Building Automation System Market Breakdown, by Hardware
9.5.6.2.3 South Africa: Building Automation System Market Breakdown, by End Users
9.5.6.3 Saudi Arabia: Building Automation System Market – Revenue and Forecast to 2031 (US$ Million)
9.5.6.3.1 Saudi Arabia: Building Automation System Market Breakdown, by Component
9.5.6.3.2 Saudi Arabia: Building Automation System Market Breakdown, by Hardware
9.5.6.3.3 Saudi Arabia: Building Automation System Market Breakdown, by End Users
9.5.6.4 United Arab Emirates: Building Automation System Market – Revenue and Forecast to 2031 (US$ Million)
9.5.6.4.1 United Arab Emirates: Building Automation System Market Breakdown, by Component
9.5.6.4.2 United Arab Emirates: Building Automation System Market Breakdown, by Hardware
9.5.6.4.3 United Arab Emirates: Building Automation System Market Breakdown, by End Users
9.5.6.5 Rest of Middle East and Africa: Building Automation System Market – Revenue and Forecast to 2031 (US$ Million)
9.5.6.5.1 Rest of Middle East and Africa: Building Automation System Market Breakdown, by Component
9.5.6.5.2 Rest of Middle East and Africa: Building Automation System Market Breakdown, by Hardware
9.5.6.5.3 Rest of Middle East and Africa: Building Automation System Market Breakdown, by End Users
9.6 South and Central America
9.6.1 South and Central America Building Automation System Market Overview
9.6.2 South and Central America: Building Automation System Market – Revenue and Forecast to 2031 (US$ Million)
9.6.3 South and Central America: Building Automation System Market Breakdown, by Component
9.6.3.1 South and Central America: Building Automation System Market – Revenue and Forecast Analysis – by Component
9.6.4 South and Central America: Building Automation System Market Breakdown, by Hardware
9.6.4.1 South and Central America: Building Automation System Market – Revenue and Forecast Analysis – by Hardware
9.6.5 South and Central America: Building Automation System Market Breakdown, by End Users
9.6.5.1 South and Central America: Building Automation System Market – Revenue and Forecast Analysis – by End Users
9.6.6 South and Central America: Building Automation System Market – Revenue and Forecast Analysis – by Country
9.6.6.1 South and Central America: Building Automation System Market – Revenue and Forecast Analysis – by Country
9.6.6.2 Brazil: Building Automation System Market – Revenue and Forecast to 2031 (US$ Million)
9.6.6.2.1 Brazil: Building Automation System Market Breakdown, by Component
9.6.6.2.2 Brazil: Building Automation System Market Breakdown, by Hardware
9.6.6.2.3 Brazil: Building Automation System Market Breakdown, by End Users
9.6.6.3 Argentina: Building Automation System Market – Revenue and Forecast to 2031 (US$ Million)
9.6.6.3.1 Argentina: Building Automation System Market Breakdown, by Component
9.6.6.3.2 Argentina: Building Automation System Market Breakdown, by Hardware
9.6.6.3.3 Argentina: Building Automation System Market Breakdown, by End Users
9.6.6.4 Rest of South and Central America: Building Automation System Market – Revenue and Forecast to 2031 (US$ Million)
9.6.6.4.1 Rest of South and Central America: Building Automation System Market Breakdown, by Component
9.6.6.4.2 Rest of South and Central America: Building Automation System Market Breakdown, by Hardware
9.6.6.4.3 Rest of South and Central America: Building Automation System Market Breakdown, by End Users
10. Competitive Landscape
10.1 Company Positioning & Concentration
10.2 Heat Map Analysis by Key Players
11. Industry Landscape
11.1 Overview
11.2 Market Initiative
11.3 Product Development
11.4 Mergers & Acquisitions
12. Company Profiles
12.1 ABB Ltd
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Mitsubishi Electric Corp
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Bosch Sicherheitssysteme GmbH
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 Honeywell International Inc
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Schneider Electric SE
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 Siemens AG
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 Johnson Controls International Plc
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 Carrier Global Corp
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
12.9 Lutron Electronics Co., Inc
12.9.1 Key Facts
12.9.2 Business Description
12.9.3 Products and Services
12.9.4 Financial Overview
12.9.5 SWOT Analysis
12.9.6 Key Developments
12.10 Trane Technologies Plc
12.10.1 Key Facts
12.10.2 Business Description
12.10.3 Products and Services
12.10.4 Financial Overview
12.10.5 SWOT Analysis
12.10.6 Key Developments
13. Appendix
13.1 Word Index
13.2 About The Insight Partners
List of Tables
Table 1. Building Automation System Market Segmentation
Table 2. List of Vendors
Table 3. Building Automation System Market – Revenue and Forecast to 2031 (US$ Million)
Table 4. Building Automation System Market – Revenue and Forecast to 2031 (US$ Million) – by Component
Table 5. Building Automation System Market – Revenue and Forecast to 2031 (US$ Million) – by End Users
Table 6. North America: Building Automation System Market – Revenue and Forecast to 2031(US$ Million) – by Component
Table 7. North America: Building Automation System Market – Revenue and Forecast to 2031(US$ Million) – by Hardware
Table 8. North America: Building Automation System Market – Revenue and Forecast to 2031(US$ Million) – by End Users
Table 9. North America: Building Automation System Market – Revenue and Forecast to 2031(US$ Million) – by Country
Table 10. United States: Building Automation System Market – Revenue and Forecast to 2031(US$ Million) – by Component
Table 11. United States: Building Automation System Market – Revenue and Forecast to 2031(US$ Million) – by Hardware
Table 12. United States: Building Automation System Market – Revenue and Forecast to 2031(US$ Million) – by End Users
Table 13. Canada: Building Automation System Market – Revenue and Forecast to 2031(US$ Million) – by Component
Table 14. Canada: Building Automation System Market – Revenue and Forecast to 2031(US$ Million) – by Hardware
Table 15. Canada: Building Automation System Market – Revenue and Forecast to 2031(US$ Million) – by End Users
Table 16. Mexico: Building Automation System Market – Revenue and Forecast to 2031(US$ Million) – by Component
Table 17. Mexico: Building Automation System Market – Revenue and Forecast to 2031(US$ Million) – by Hardware
Table 18. Mexico: Building Automation System Market – Revenue and Forecast to 2031(US$ Million) – by End Users
Table 19. Europe: Building Automation System Market – Revenue and Forecast to 2031(US$ Million) – by Component
Table 20. Europe: Building Automation System Market – Revenue and Forecast to 2031(US$ Million) – by Hardware
Table 21. Europe: Building Automation System Market – Revenue and Forecast to 2031(US$ Million) – by End Users
Table 22. Europe: Building Automation System Market – Revenue and Forecast to 2031(US$ Million) – by Country
Table 23. France: Building Automation System Market – Revenue and Forecast to 2031(US$ Million) – by Component
Table 24. France: Building Automation System Market – Revenue and Forecast to 2031(US$ Million) – by Hardware
Table 25. France: Building Automation System Market – Revenue and Forecast to 2031(US$ Million) – by End Users
Table 26. Germany: Building Automation System Market – Revenue and Forecast to 2031(US$ Million) – by Component
Table 27. Germany: Building Automation System Market – Revenue and Forecast to 2031(US$ Million) – by Hardware
Table 28. Germany: Building Automation System Market – Revenue and Forecast to 2031(US$ Million) – by End Users
Table 29. United Kingdom: Building Automation System Market – Revenue and Forecast to 2031(US$ Million) – by Component
Table 30. United Kingdom: Building Automation System Market – Revenue and Forecast to 2031(US$ Million) – by Hardware
Table 31. United Kingdom: Building Automation System Market – Revenue and Forecast to 2031(US$ Million) – by End Users
Table 32. Italy: Building Automation System Market – Revenue and Forecast to 2031(US$ Million) – by Component
Table 33. Italy: Building Automation System Market – Revenue and Forecast to 2031(US$ Million) – by Hardware
Table 34. Italy: Building Automation System Market – Revenue and Forecast to 2031(US$ Million) – by End Users
Table 35. Russian Federation: Building Automation System Market – Revenue and Forecast to 2031(US$ Million) – by Component
Table 36. Russian Federation: Building Automation System Market – Revenue and Forecast to 2031(US$ Million) – by Hardware
Table 37. Russian Federation: Building Automation System Market – Revenue and Forecast to 2031(US$ Million) – by End Users
Table 38. Rest of Europe: Building Automation System Market – Revenue and Forecast to 2031(US$ Million) – by Component
Table 39. Rest of Europe: Building Automation System Market – Revenue and Forecast to 2031(US$ Million) – by Hardware
Table 40. Rest of Europe: Building Automation System Market – Revenue and Forecast to 2031(US$ Million) – by End Users
Table 41. Asia Pacific: Building Automation System Market – Revenue and Forecast to 2031(US$ Million) – by Component
Table 42. Asia Pacific: Building Automation System Market – Revenue and Forecast to 2031(US$ Million) – by Hardware
Table 43. Asia Pacific: Building Automation System Market – Revenue and Forecast to 2031(US$ Million) – by End Users
Table 44. Asia Pacific: Building Automation System Market – Revenue and Forecast to 2031(US$ Million) – by Country
Table 45. Australia: Building Automation System Market – Revenue and Forecast to 2031(US$ Million) – by Component
Table 46. Australia: Building Automation System Market – Revenue and Forecast to 2031(US$ Million) – by Hardware
Table 47. Australia: Building Automation System Market – Revenue and Forecast to 2031(US$ Million) – by End Users
Table 48. China: Building Automation System Market – Revenue and Forecast to 2031(US$ Million) – by Component
Table 49. China: Building Automation System Market – Revenue and Forecast to 2031(US$ Million) – by Hardware
Table 50. China: Building Automation System Market – Revenue and Forecast to 2031(US$ Million) – by End Users
Table 51. India: Building Automation System Market – Revenue and Forecast to 2031(US$ Million) – by Component
Table 52. India: Building Automation System Market – Revenue and Forecast to 2031(US$ Million) – by Hardware
Table 53. India: Building Automation System Market – Revenue and Forecast to 2031(US$ Million) – by End Users
Table 54. Japan: Building Automation System Market – Revenue and Forecast to 2031(US$ Million) – by Component
Table 55. Japan: Building Automation System Market – Revenue and Forecast to 2031(US$ Million) – by Hardware
Table 56. Japan: Building Automation System Market – Revenue and Forecast to 2031(US$ Million) – by End Users
Table 57. South Korea: Building Automation System Market – Revenue and Forecast to 2031(US$ Million) – by Component
Table 58. South Korea: Building Automation System Market – Revenue and Forecast to 2031(US$ Million) – by Hardware
Table 59. South Korea: Building Automation System Market – Revenue and Forecast to 2031(US$ Million) – by End Users
Table 60. Rest of APAC: Building Automation System Market – Revenue and Forecast to 2031(US$ Million) – by Component
Table 61. Rest of APAC: Building Automation System Market – Revenue and Forecast to 2031(US$ Million) – by Hardware
Table 62. Rest of APAC: Building Automation System Market – Revenue and Forecast to 2031(US$ Million) – by End Users
Table 63. Middle East and Africa: Building Automation System Market – Revenue and Forecast to 2031(US$ Million) – by Component
Table 64. Middle East and Africa: Building Automation System Market – Revenue and Forecast to 2031(US$ Million) – by Hardware
Table 65. Middle East and Africa: Building Automation System Market – Revenue and Forecast to 2031(US$ Million) – by End Users
Table 66. Middle East and Africa: Building Automation System Market – Revenue and Forecast to 2031(US$ Million) – by Country
Table 67. South Africa: Building Automation System Market – Revenue and Forecast to 2031(US$ Million) – by Component
Table 68. South Africa: Building Automation System Market – Revenue and Forecast to 2031(US$ Million) – by Hardware
Table 69. South Africa: Building Automation System Market – Revenue and Forecast to 2031(US$ Million) – by End Users
Table 70. Saudi Arabia: Building Automation System Market – Revenue and Forecast to 2031(US$ Million) – by Component
Table 71. Saudi Arabia: Building Automation System Market – Revenue and Forecast to 2031(US$ Million) – by Hardware
Table 72. Saudi Arabia: Building Automation System Market – Revenue and Forecast to 2031(US$ Million) – by End Users
Table 73. United Arab Emirates: Building Automation System Market – Revenue and Forecast to 2031(US$ Million) – by Component
Table 74. United Arab Emirates: Building Automation System Market – Revenue and Forecast to 2031(US$ Million) – by Hardware
Table 75. United Arab Emirates: Building Automation System Market – Revenue and Forecast to 2031(US$ Million) – by End Users
Table 76. Rest of Middle East and Africa: Building Automation System Market – Revenue and Forecast to 2031(US$ Million) – by Component
Table 77. Rest of Middle East and Africa: Building Automation System Market – Revenue and Forecast to 2031(US$ Million) – by Hardware
Table 78. Rest of Middle East and Africa: Building Automation System Market – Revenue and Forecast to 2031(US$ Million) – by End Users
Table 79. South and Central America: Building Automation System Market – Revenue and Forecast to 2031(US$ Million) – by Component
Table 80. South and Central America: Building Automation System Market – Revenue and Forecast to 2031(US$ Million) – by Hardware
Table 81. South and Central America: Building Automation System Market – Revenue and Forecast to 2031(US$ Million) – by End Users
Table 82. South and Central America: Building Automation System Market – Revenue and Forecast to 2031(US$ Million) – by Country
Table 83. Brazil: Building Automation System Market – Revenue and Forecast to 2031(US$ Million) – by Component
Table 84. Brazil: Building Automation System Market – Revenue and Forecast to 2031(US$ Million) – by Hardware
Table 85. Brazil: Building Automation System Market – Revenue and Forecast to 2031(US$ Million) – by End Users
Table 86. Argentina: Building Automation System Market – Revenue and Forecast to 2031(US$ Million) – by Component
Table 87. Argentina: Building Automation System Market – Revenue and Forecast to 2031(US$ Million) – by Hardware
Table 88. Argentina: Building Automation System Market – Revenue and Forecast to 2031(US$ Million) – by End Users
Table 89. Rest of South and Central America: Building Automation System Market – Revenue and Forecast to 2031(US$ Million) – by Component
Table 90. Rest of South and Central America: Building Automation System Market – Revenue and Forecast to 2031(US$ Million) – by Hardware
Table 91. Rest of South and Central America: Building Automation System Market – Revenue and Forecast to 2031(US$ Million) – by End Users
Table 92. Heat Map Analysis by Key Players
Table 93. List of Abbreviation
List of Figures
Figure 1. Building Automation System Market Segmentation, by Geography
Figure 2. PEST Analysis
Figure 3. Impact Analysis of Drivers and Restraints
Figure 4. Building Automation System Market Revenue (US$ Million), 2021–2031
Figure 5. Building Automation System Market Share (%) – by Component (2023 and 2031)
Figure 6. Hardware: Building Automation System Market – Revenue and Forecast to 2031 (US$ Million)
Figure 7. Software and Services: Building Automation System Market – Revenue and Forecast to 2031 (US$ Million)
Figure 8. Building Automation System Market Share (%) – by End Users (2023 and 2031)
Figure 9. Commercial: Building Automation System Market – Revenue and Forecast to 2031 (US$ Million)
Figure 10. Industrial: Building Automation System Market – Revenue and Forecast to 2031 (US$ Million)
Figure 11. Residential: Building Automation System Market – Revenue and Forecast to 2031 (US$ Million)
Figure 12. Building Automation System Market Breakdown by Region, 2023 and 2031 (%)
Figure 13. North America: Building Automation System Market – Revenue and Forecast to 2031(US$ Million)
Figure 14. North America: Building Automation System Market Breakdown, by Component (2023 and 2031)
Figure 15. North America: Building Automation System Market Breakdown, by Hardware (2023 and 2031)
Figure 16. North America: Building Automation System Market Breakdown, by End Users (2023 and 2031)
Figure 17. North America: Building Automation System Market Breakdown, by Key Countries, 2023 and 2031 (%)
Figure 18. United States: Building Automation System Market – Revenue and Forecast to 2031(US$ Million)
Figure 19. Canada: Building Automation System Market – Revenue and Forecast to 2031(US$ Million)
Figure 20. Mexico: Building Automation System Market – Revenue and Forecast to 2031(US$ Million)
Figure 21. Europe: Building Automation System Market – Revenue and Forecast to 2031(US$ Million)
Figure 22. Europe: Building Automation System Market Breakdown, by Component (2023 and 2031)
Figure 23. Europe: Building Automation System Market Breakdown, by Hardware (2023 and 2031)
Figure 24. Europe: Building Automation System Market Breakdown, by End Users (2023 and 2031)
Figure 25. Europe: Building Automation System Market Breakdown, by Key Countries, 2023 and 2031 (%)
Figure 26. France: Building Automation System Market – Revenue and Forecast to 2031(US$ Million)
Figure 27. Germany: Building Automation System Market – Revenue and Forecast to 2031(US$ Million)
Figure 28. United Kingdom: Building Automation System Market – Revenue and Forecast to 2031(US$ Million)
Figure 29. Italy: Building Automation System Market – Revenue and Forecast to 2031(US$ Million)
Figure 30. Russian Federation: Building Automation System Market – Revenue and Forecast to 2031(US$ Million)
Figure 31. Rest of Europe: Building Automation System Market – Revenue and Forecast to 2031(US$ Million)
Figure 32. Asia Pacific: Building Automation System Market – Revenue and Forecast to 2031(US$ Million)
Figure 33. Asia Pacific: Building Automation System Market Breakdown, by Component (2023 and 2031)
Figure 34. Asia Pacific: Building Automation System Market Breakdown, by Hardware (2023 and 2031)
Figure 35. Asia Pacific: Building Automation System Market Breakdown, by End Users (2023 and 2031)
Figure 36. Asia Pacific: Building Automation System Market Breakdown, by Key Countries, 2023 and 2031 (%)
Figure 37. Australia: Building Automation System Market – Revenue and Forecast to 2031(US$ Million)
Figure 38. China: Building Automation System Market – Revenue and Forecast to 2031(US$ Million)
Figure 39. India: Building Automation System Market – Revenue and Forecast to 2031(US$ Million)
Figure 40. Japan: Building Automation System Market – Revenue and Forecast to 2031(US$ Million)
Figure 41. South Korea: Building Automation System Market – Revenue and Forecast to 2031(US$ Million)
Figure 42. Rest of APAC: Building Automation System Market – Revenue and Forecast to 2031(US$ Million)
Figure 43. Middle East and Africa: Building Automation System Market – Revenue and Forecast to 2031(US$ Million)
Figure 44. Middle East and Africa: Building Automation System Market Breakdown, by Component (2023 and 2031)
Figure 45. Middle East and Africa: Building Automation System Market Breakdown, by Hardware (2023 and 2031)
Figure 46. Middle East and Africa: Building Automation System Market Breakdown, by End Users (2023 and 2031)
Figure 47. Middle East and Africa: Building Automation System Market Breakdown, by Key Countries, 2023 and 2031 (%)
Figure 48. South Africa: Building Automation System Market – Revenue and Forecast to 2031(US$ Million)
Figure 49. Saudi Arabia: Building Automation System Market – Revenue and Forecast to 2031(US$ Million)
Figure 50. United Arab Emirates: Building Automation System Market – Revenue and Forecast to 2031(US$ Million)
Figure 51. Rest of Middle East and Africa: Building Automation System Market – Revenue and Forecast to 2031(US$ Million)
Figure 52. South and Central America: Building Automation System Market – Revenue and Forecast to 2031(US$ Million)
Figure 53. South and Central America: Building Automation System Market Breakdown, by Component (2023 and 2031)
Figure 54. South and Central America: Building Automation System Market Breakdown, by Hardware (2023 and 2031)
Figure 55. South and Central America: Building Automation System Market Breakdown, by End Users (2023 and 2031)
Figure 56. South and Central America: Building Automation System Market Breakdown, by Key Countries, 2023 and 2031 (%)
Figure 57. Brazil: Building Automation System Market – Revenue and Forecast to 2031(US$ Million)
Figure 58. Argentina: Building Automation System Market – Revenue and Forecast to 2031(US$ Million)
Figure 59. Rest of South and Central America: Building Automation System Market – Revenue and Forecast to 2031(US$ Million)
Figure 60. Company Positioning & Concentration
The List of Companies - Building Automation System Market
- ABB Ltd
- Mitsubishi Electric Corp
- Bosch Sicherheitssysteme GmbH
- Honeywell International Inc
- Schneider Electric SE
- Siemens AG
- Johnson Controls International Plc
- Carrier Global Corp
- Lutron Electronics Co., Inc
- Trane Technologies Plc
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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