The industry for building automation systems is expected to develop as a result of the growing deployment of these systems in office buildings, shopping centers, and public transportation hubs like train stations and airports.
The global industry for building automation systems has been driven by the Internet of Things’ increased popularity, increasing government and private sector activities, and rising security concerns.
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Additionally, wireless protocols and sensor networks are developing more quickly. Moreover, the intervention of industry 4.0 and rapidly evolving cloud technologies would further contribute towards industry expansion.
Opportunities :
- Focus on Innovation: Developing next-generation BAS with features like artificial intelligence, machine learning, and advanced data analytics for predictive maintenance and optimized performance.
- Cybersecurity Focus: Ensuring robust cybersecurity measures in BAS to protect against cyberattacks is crucial for secure building operations.
- Cloud-Based Solutions: Offering cloud-based BAS solutions provides scalability, remote access, and real-time data management.
- Focus on User Experience: Developing user-friendly interfaces and intuitive controls for BAS can enhance user experience for building occupants and facility managers.
- Standardization and Interoperability: Promoting industry standards and ensuring interoperability between different BAS components can create a more integrated and efficient market.
Competitive Landscape:
The top 5 players in the global building automation industry include Siemens AG, Honeywell International, ABB, Schneider Electric, and Johnson Controls, plc. As per FMI’s analysis, top 5 players are anticipated to account for 44% of the total industry share.
As a part of their growth strategies, leading players operating in the global Building Automation Systems Market are emphasizing product developments, intensive research and development, and strategic collaborations, mergers, and acquisitions to establish a firm foothold in the industry. For instance:
- In August 2021, Schneider Electric, a global data center hardware giant, entered an on-demand leasing program hardware deal with the American Power Conversion line for uninterruptable power supplies (UPS). The partnership will allow channel partners to offer improved visibility and front-end maintenance across their customers’ UPS systems.
- In July 2021, ASM Global, a global leader in entertainment experience, announced a strategic collaboration with Honeywell International, a leader in connected buildings, to create smarter and safer venue operations and more enjoyable audience experiences across ASM’s diverse portfolio.
Leading Key Players:
- Honeywell International
- Beijer Electronics
- ABB
- Siemens AG
- Johnson Controls
- Schneider Electric
- General Electric
- Legrand
- Lutron Electronics Co
- Control4 Corporation
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Building Automation Systems Market Segmentation:
By Product Type:
- Hardware
- Software
- Services
By System Type:
- Security & Surveillance
- HVAC
- Lighting Solutions
- BEMS (Building Energy Management)
By Application Type:
- Commercial
- Residential
- Government
By Region:
- North America
- Latin America
- Europe
- South Asia & Pacific
- East Asia
- Middle East & Africa (MEA)
