Global building automation systems market is anticipated to grow at a significant CAGR of 10.8% during the forecast period (2024-2031). The growing adoption of smart building technologies globally along with new system launches by key players operating in the market is a key factor driving the growth of the global building automation systems market. For instance, in March 2023, Siemens Smart Infrastructure 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 30.0% 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.
Further, in the same month, Schneider Electric SE launched EcoStruxure Building Operation for the Indian market, to enhance occupant comfort and increase building value. The Schneider Electric EcoStruxure Building Operation (EBO2023) will amplify the country’s sustainability efforts through its integrated smart building management system aiding in net-zero carbon buildings and long-term operational resiliency in datacenters. Building owners can benefit from data that can be accessed, standardized, and secured with the help of artificial intelligence and machine learning. By integrating multiple devices onto a centralized platform, the IP-enabled software addresses the entire facility and cloud services leading to increased cybersecurity and asset management, from small buildings to large multi-complexes. The IoT solution optimizes buildings by providing digital transformation through reduced carbon footprint, maintenance costs, and time. Built for use in applications such as HVAC and lighting control, energy management, fire safety, security, access control, and more, the EBO2023 is compatible with third-party building systems.
Furthermore, in May 2023, Honeywell launched Honeywell Forge for Buildings, a comprehensive approach to building systems operations and management that can be used at a single site or with an entire portfolio. Honeywell Forge for Buildings features software, hardware, and services that deliver key outcomes to help building owners and operators achieve sustainability, operational efficiency, occupant experience, compliance, safety and security, and resilience goals. Such developments are contributing to the global market growth.
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Market Coverage
- The market number available for – 2023-2031
- Base year- 2023
- Forecast period- 2024-2031
Segment Covered-
- By Component
- By End-User
Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
Competitive Landscape- Honeywell International Inc., Schneider Electric SE, Trane Technologies, Johnson Controls, Inc. Emerson Electric Co., Siemens AG, and Baldor Electric (ABB Ltd.), among others.
Building Automation Systems Market Report Segment
By Component
- Hardware
- Software
- Services
By End-User
- Residential
- Commercial
- Industrial
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Building Automation Systems Market Report Segment by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Spain
- France
- Italy
- Rest of Europe
Asia-Pacific
- India
- China
- Japan
- South Korea
- Rest of APAC
Rest of the World
- Latin America
- Middle East and Africa
Company Profiles
- ABB Ltd.
- Bajaj Electricals
- Building LogiX
- Carrier Corp.
- Cisco Systems Inc.
- Control4 Plc
- Delta Controls Inc.
- Distech Controls Inc.
- Emerson Electric Co.
- General Electric
- Hitachi Ltd.
- Huawei Technologies Corp.
- Hubbell Inc.
- Lennox International Inc.
- Lutron Electronics Co. Ltd.
- Mitsubishi Electric Corp.
- Oracle Corp.
- Robert Bosch GmbH.
- SAP SE
- United Technologies Corp.
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