Northbrook, IL 60062 -- (SBWIRE) -- 06/01/2022 -- The building automation system market is projected to reach USD 148.6 billion by 2027 from USD 86.8 billion in 2022; it is expected to grow at a CAGR of 11.4% from 2022 to 2027.
A building automation system (BAS) refers to a combination of electrical and electronic control systems that comprise a range of sensors, actuators, controllers, and software. These sensors and controllers govern heating, ventilation, and air-conditioning (HVAC) systems, lighting systems, fire safety alarms, and security and access control systems installed in a building for the safety and convenience of the occupants. With rapid technological advancements and high requirements for reduction in buildings' energy and maintenance costs, the implementation of building automation systems in residential, commercial, and industrial structures is expanding.
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The necessity of these systems is more evident in large complexes as operating costs for managing and controlling these buildings manually are much higher. Building automation systems regulate room temperature and safety lights to provide freshness and comfort inside a building. HVAC and lighting controls are the two areas where huge energy savings are strongly needed to recuperate the overall maintenance cost. Along with energy savings, building automation systems enhance the security and safety of a building by remotely monitoring device performance and failures. Additionally, building automation systems provide building operators with alarms when systems start malfunctioning; they also enable video monitoring for real-time surveillance.
The increasing global concerns for energy conservation and the rising energy costs are fuelling the demand for building automation systems for making buildings energy efficient. This is one of the key factors driving the growth of the building automation system market. The surging demand for building automation systems for use in commercial applications can be attributed to the ability of these systems to reduce the operating costs of buildings. The easy maintenance of temperature and lighting levels, along with enhanced security levels offered by building automation systems, fuel market growth.
The increasing global concerns for energy conservation and the rising energy costs are fuelling the demand for building automation systems for making buildings energy efficient. This is one of the key factors driving the growth of the building automation system market. The surging demand for building automation systems for use in commercial applications can be attributed to the ability of these systems to reduce the operating costs of buildings. The easy maintenance of temperature and lighting levels, along with enhanced security levels offered by building automation systems, fuel market growth in North America.
The high demand for lighting control systems and security and access control systems in this region has further contributed to the growth of the market in North America. The presence of a number of manufacturers of building automation systems in North America, including Honeywell International (US), Carrier (US), Delta Controls (Canada), and Hubbell (US), also drives the growth of the market in the region. Asia Pacific is expected to account for the largest share of the building automation system market during the forecast period. The rapid growth of the construction industry in emerging economies such as China and India and the government initiatives for energy conservation have contributed to the growth of the building automation system market in the region.