Overview and Scope
A building automation and control system (BACS) is a centralized system that integrates and controls various building systems to optimize energy efficiency, enhance occupant comfort, and streamline facility management operations. The system is used to provide intelligent, integrated solutions to manage and optimize building performance, comfort, and efficiency.
Sizing and Forecast
The building automation and control system market size has grown strongly in recent years. It will grow from $87.90 billion in 2023 to $96.36 billion in 2024 at a compound annual growth rate (CAGR) of 9.6%. The growth in the historic period can be attributed to energy efficiency regulations, cost reduction demands, shift towards smart buildings, growing focus on occupant comfort and well-being, and demand for real-time monitoring and control.
The building automation and control system market size is expected to see rapid growth in the next few years. It will grow to $141.05 billion in 2028 at a compound annual growth rate (CAGR) of 10.0%. The growth in the forecast period can be attributed to focus on energy efficiency and sustainability, growth of smart cities and infrastructure, increased connectivity and interoperability, rise of remote work and remote monitoring. Major trends in the forecast period include integration of artificial intelligence (AI) and machine, expansion of internet of things (IoT) connectivity, growth of edge computing, adoption of cloud-based solutions, and rise of smart building platforms.
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Segmentation & Regional Insights
The building automation and control system market covered in this report is segmented –
1) By Offerings: Solution, Services
2) By Technology: Wired, Wireless
3) By End User: Residential, Commercial, Industrial
Asia-Pacific was the largest region in the building automation and control system market in 2023. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the building automation and control system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
The rise in smart building construction is expected to propel the growth of the building automation and control system market going forward. Smart buildings utilize advanced technology and interconnected systems to optimize energy efficiency, enhance occupant comfort, improve operational efficiency, and increase overall building performance. Smart building construction is increasing due to cost-saving opportunities, regulatory requirements, and the growing demand for connected and intelligent spaces. The building automation and control system provides the necessary connectivity and integration capabilities to ensure interoperability and coordination among various components, enabling centralized control and monitoring of building operations. For instance, in May 2022, according to reports published by Buildup., a Europe-based climate, infrastructure, and environment executive agency, globally there will be 115 million smart buildings by 2026, up from 45 million in 2022. Therefore, the rise in smart buildings is driving the growth of the building automation and control system market.
Key Industry Players
Major companies operating in the building automation and control system market are Robert Bosch GmbH, Hitachi Ltd., Siemens AG, Cisco Systems Inc., Schneider Electric SE, Honeywell International Inc., ABB Ltd, Johnson Controls International plc, Trane Technologies plc, Emerson Electric Co., Legrand SA, Rockwell Automation Inc., Signify Holding B.V., Hubbell Incorporated, Lennox International Inc., Acuity Brands Inc., Carrier Global Corporation, Crestron Electronics Inc., Leviton Manufacturing Co. Inc., Beckhoff Automation GmbH & Co. KG, Snap One LLC, Lutron Electronics Co. Inc., Current Lighting Solutions LLC., Dialight plc, Uplight Inc.
The building automation and control system market report table of contents includes:
1. Executive Summary
- Market Characteristics
- Market Trends And Strategies
- Impact Of COVID-19
- Market Size And Growth
- Segmentation
- Regional And Country Analysis
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- Competitive Landscape And Company Profiles
- Key Mergers And Acquisitions
- Future Outlook and Potential Analysis
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