Overview and Scope
Intelligent building automation technologies (IBAT) refer to a software and hardware network that controls and monitors the environment of a building facility. It creates an atmosphere that is efficient, comfortable, and convenient by addressing basic demands such as structure, system, service, and management, and optimizing their interrelationship. The intelligent building automation technologies are used for a faster, easier, and more convenient interface.
Sizing and Forecast
The intelligent building automation technologies market size has grown strongly in recent years. It will grow from $88.05 billion in 2023 to $94.55 billion in 2024 at a compound annual growth rate (CAGR) of 7.4%. The growth in the historic period can be attributed to early adoption and awareness, regulatory compliance, cost reduction and efficiency gains, resilience and adaptability, energy efficiency goals.
The intelligent building automation technologies market size is expected to see strong growth in the next few years. It will grow to $133.26 billion in 2028 at a compound annual growth rate (CAGR) of 9.0%. The growth in the forecast period can be attributed to maturing technology ecosystem, customization and flexibility, data security and privacy, human-centric design, decentralized energy systems, . Major trends in the forecast period include digital transformation, globalization and supply chain complexity, shift to smart manufacturing, customer-centric design.
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Segmentation & Regional Insights
The intelligent building automation technologies market covered in this report is segmented –
1) By Type: Hardware, Software, Service
2) By Communication Technology: Wired Technology, Wireless Technology
3) By Application: Residential, Commercial, Industrial
North America was the largest region in the intelligent building automation technologies market in 2023. >Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the intelligent building automation technologies market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
Increasing energy-efficient projects are expected to propel the growth of the intelligent building automation technologies market going forward. Energy-efficient projects refer to a structure that maximizes resource efficiency while maintaining comfortable living conditions within the home with the least amount of energy possible. Intelligent building automation solutions help energy-efficient projects by reducing energy consumption by 10% to 25%, making the buildings highly energy efficient. For instance, according to Energy Star, a voluntary U.S. Environmental Protection Agency (EPA) program, in 2021, more than 6,100 commercial buildings earned the Energy Star, saving nearly $1.5 billion and preventing more than 4.6 million metric tons of greenhouse gas emissions. Therefore, increasing energy-efficient projects are driving the intelligent building automation technologies market growth.
Key Industry Players
Major companies operating in the intelligent building automation technologies market report are Asea Brown Boveri Ltd., Azbil Corporation, Eaton Corporation plc, General Electric Company, Ingersoll Rand Inc., Siemens Building Technologies Inc., Schneider Electric SE, Honeywell International Inc., Hubbell Incorporated, Rockwell Automation Inc., United Technologies Corporation, Samsung Electronics Co. Ltd., Delta Controls Inc., Panasonic Corporation, Robert Bosch GmbH, Cisco Systems Inc., Trane Technologies plc, Lutron Electronics Co. Inc., Johnson Controls International plc, Beijer Electronics AB, Emerson Electric Co., Mitsubishi Electric Corporation, Hitachi Ltd., Huawei Technologies Co. Ltd., Creston Electronics LLC, Legrand SA, Bajaj Electricals Limited, Building LogiX Inc., Distech Controls Inc., Dialight plc
The intelligent building automation technologies market report table of contents includes:
1. Executive Summary
2. Intelligent Building Automation Technologies Market Characteristics
3. Intelligent Building Automation Technologies Market Trends And Strategies
4. Intelligent Building Automation Technologies Market – Macro Economic Scenario
5. Global Intelligent Building Automation Technologies Market Size and Growth
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26. South America Intelligent Building Automation Technologies Market
27. Brazil Intelligent Building Automation Technologies Market
28. Middle East Intelligent Building Automation Technologies Market
29. Africa Intelligent Building Automation Technologies Market
30. Intelligent Building Automation Technologies Market Competitive Landscape And Company Profiles
Top Major Players:
- Asea Brown Boveri Ltd
- Azbil Corporation
- Eaton Corporation plc
- General Electric Company
- Ingersoll Rand Inc
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