Dublin, March 14, 2024 (GLOBE NEWSWIRE) -- The "Global Intelligent Building Automation Technologies Market by Offering (Solutions, Services), Technology (Sensor Technology, Connectivity Technology, Computing Technology), End Use (Residential, Industrial, Commercial) and Region - Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The global intelligent building automation technologies market is estimated at USD 90.2 billion in 2023 to USD 152.4 billion by 2028, at a Compound Annual Growth Rate (CAGR) of 11%.
The increasing emphasis on indoor air quality (IAQ) as a critical factor in occupant health and well-being has emerged as a significant driver fueling the adoption of intelligent building automation technologies. Recognizing the profound impact of air quality on human health, building owners and operators are prioritizing solutions that actively monitor, control, and optimize ventilation systems to ensure optimal IAQ.
As awareness of the importance of IAQ continues to grow, the integration of these technologies becomes not just a preference but a necessity, driving their widespread adoption and fostering the sustained growth of the intelligent building automation market. 
The sensor technology segment is expected to hold the largest market size during the forecast period
Advances in wireless sensor networks represent a transformative force in the realm of sensor technology for intelligent buildings, significantly contributing to the sector's growth and evolution. The adoption of wireless sensors introduced a paradigm shift by offering unprecedented flexibility in installation, mitigating the challenges associated with traditional wired systems. With the elimination of extensive wiring requirements, wireless sensors reduce installation complexities and associated costs, enabling a more streamlined and rapid deployment process.
This newfound flexibility not only facilitates the integration of sensors into diverse building elements but also allows for easy retrofitting of existing structures, supporting the upgrade of conventional buildings into intelligent, connected spaces. Moreover, wireless sensors enhance scalability, adapting effortlessly to the changing needs of the built environment. The absence of physical constraints imposed by wired connections fosters a dynamic and adaptable sensor infrastructure, aligning seamlessly with the ever-evolving requirements of intelligent building automation systems. Consequently, the integration of wireless sensor networks stands as a cornerstone for the deployment of efficient, cost-effective, and scalable building automation solutions, laying the groundwork for a more responsive and interconnected intelligent building ecosystem.
The services segment to register the fastest growth rate during the forecast period
The evolution of building codes and standards, particularly driven by a heightened focus on sustainability and energy efficiency, has become a significant catalyst for the demand for intelligent building automation services. As regulatory frameworks place greater emphasis on environmentally responsible construction practices, organizations seek expert consulting services to navigate the complex landscape of evolving requirements. Consulting services play a pivotal role in ensuring that building automation systems align seamlessly with the latest codes and standards, guaranteeing compliance with stringent sustainability benchmarks.
This involves strategic planning, comprehensive audits, and the development of tailored solutions that not only meet current regulations but also anticipate future advancements. Concurrently, deployment and training services become instrumental in the practical implementation of these strategies, ensuring that organizations can effectively integrate and operate systems that adhere to the latest regulatory mandates. In a rapidly changing regulatory environment, intelligent building automation services provide a crucial bridge between evolving standards and the practical application of compliant, energy-efficient, and sustainable building systems.
Asia Pacific's highest growth rate during the forecast period
The rollout of 5G networks and the concurrent expansion of connectivity infrastructure are catalyzing a transformative shift in the deployment of intelligent building automation technologies in the Asia Pacific region. The advent of 5G introduces unprecedented levels of speed, reliability, and low-latency communication, creating a robust foundation for the seamless integration of intelligent systems within buildings. This high-speed connectivity empowers real-time data exchange between diverse devices and sensors, forming the backbone for responsive and agile intelligent building solutions.
As the Internet of Things (IoT) ecosystem flourishes, 5G becomes instrumental in facilitating the interconnectivity of a myriad of sensors, actuators, and automation devices spread across buildings. This synergy between 5G and intelligent building technologies not only enhances the efficiency of existing systems but also enables the implementation of more sophisticated applications, such as advanced analytics, AI-driven decision-making, and immersive occupant experiences. The accelerated deployment of intelligent building automation technologies, fueled by the 5G revolution, not only elevates the overall performance and responsiveness of building systems but also positions the Asia Pacific region at the forefront of smart infrastructure development.
Research Coverage
The market study covers the intelligent building automation technologies market size across different segments. It aims at estimating the market size and the growth potential across different segments, including solutions (facility management system, security & access control system, fire detection, prevention system, energy management system, other solutions), services (professional services, managed services), by technology type (sensor technology, actuator, connectivity technology, computing technology, other technologies) end use (residential, commercial, industrial) and Region (North America, Europe, Asia Pacific, Middle East & Africa, and Latin America). The study includes an in-depth competitive analysis of the leading market players, their company profiles, key observations related to product and business offerings, recent developments, and market strategies.
Premium Insights
- Ongoing Smart Infrastructure Projects in Developing Economies to Drive Market
- Top-Growing Segments in 2023
- Sensor Technology Segment Estimated to Lead Market in 2023
- Consulting Segment Estimated to Have Fastest Growth Rate During Forecast Period
- Services Segment Estimated to Have Fastest Growth Rate During Forecast Period
- Commercial Segment to Lead Market During Forecast Period
- Solution and Commercial Segments Estimated to Hold Largest Market Shares in 2023
Market Dynamics
- Drivers
- Increasing Adoption of Advanced Energy-Efficient Systems in Buildings
- Rising Deployment of Building Automation Systems
- Advancements in Wireless Protocols and Wireless Sensor Technologies
- Restraints
- High Implementation Costs
- Concerns Regarding Cyberattacks and Data Breaches
- Opportunities
- Increasing Government Initiatives for Developing Connected Infrastructure
- Increasing Focus on Integrated Building Information Modeling Solutions
- Challenges
- Lack of Skilled Manpower for Operating Building Automation Systems
- Lack of Standardized Communication Protocols
Case Study Analysis
- Case Study 1: ABB's Smart Technology Solution Helped eLab Reduce Costs and Energy Consumption
- Case Study 2: ABB's Smart Building Technology Ensured Business Continuity, Reduced Energy Usage, and Improved Comfort
- Case Study 3: Eaton's Emergency Lighting System with Remote Monitoring Ensured Safety for New Research Center at the University of Warwick
- Case Study 4: Ecostruxure Building Operation Helped Moorfields Eye Hospital Achieve Operational Resiliency
- Case Study 5: Desigo CC Solution Made Buildings Smarter Using Integrated Automation Platform and High-Performing Infrastructure
Other Insights
- Value Chain Analysis
- Patent Analysis
- Technology Analysis
- Building Information Modeling
- Biometric Technology
- AR
- Pricing Analysis
- Average Selling Price Trend of Key Players, by Hardware
- Indicative Pricing Analysis of Key Players, by Solution
- Porter's Five Forces Analysis
- Trends and Disruptions Impacting Customers' Businesses
- Key Stakeholders & Buying Criteria
- Key Conferences & Events
- Best Practices in Intelligent Building Automation Technologies Market
- Comprehensive Building Assessment
- Engage Stakeholders
- Scalable and Flexible Infrastructure
- Interoperability and Standardization
- User Training and Change Management
- User-Centric Design
- Regular Maintenance and Updates
- Energy Efficiency and Sustainability
- Performance Monitoring and Benchmarking
- Compliance with Regulations
- Current and Emerging Business Models
- Subscription-based Models
- Pay-As-You-Go Models
- Integrated Service Models
- Data Monetization Models
- Intelligent Building Automation Technologies Market: Tools, Frameworks, and Techniques
- Future Landscape of Intelligent Building Automation Technologies Market
- HS Code Analysis: Regulating or Controlling Instruments and Apparatus (9032)
Key Attributes
| Report Attribute | Details |
| No. of Pages | 302 |
| Forecast Period | 2023-2028 |
| Estimated Market Value (USD) in 2023 | $90.2 Billion |
| Forecasted Market Value (USD) by 2028 | $152.4 Billion |
| Compound Annual Growth Rate | 11% |
| Regions Covered | Global |
Companies Mentioned
- Schneider Electric SE
- ABB Ltd.
- Honeywell International Inc.
- Siemens AG
- Johnson Controls International PLC
- Eaton Corporation
- Rockwell Automation, Inc.
- Cisco Systems, Inc.
- Robert Bosch GmbH
- Azbil Corporation
- Trane Technologies PLC
- Lutron Electronics Company
- CBRE Group, Inc.
- Jones Lang Lasalle Incorporated
- Cushman & Wakefield PLC
- Carrier Global Corporation
- Hubbell Incorporated
- Ingersoll Rand Inc.
- Emerson Electric Co.
- Current Lighting Solutions, LLC
- KMC Controls
- BuildingIQ
- 75F
- Verdigris Technologies, Inc.
- Spaceti
- eFacility
- Softdel
For more information about this report visit https://www.researchandmarkets.com/r/592uxi
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