Dublin, Sept. 12, 2024 (GLOBE NEWSWIRE) -- The "Saudi Arabia Building Automation & Control System Market, By Region, Competition, Forecast & Opportunities, 2019-2029F" report has been added to ResearchAndMarkets.com's offering.
Saudi Arabia Building Automation & Control System Market was valued at USD 2.07 Billion in 2023 and is anticipated to reach USD 3.52 billion in 2029 with a CAGR of 9.10% through the forecast period.
The market encompasses hardware, software, and services. Hardware includes sensors, controllers, and actuators, while software involves platforms that enable system integration, data analysis, and user interface management. Services typically cover installation, maintenance, and consulting.
Saudi Arabia's Vision 2030 is a comprehensive plan aimed at diversifying the Kingdom's economy and reducing its dependency on oil. This ambitious initiative places a significant emphasis on sustainable development, smart cities, and infrastructure modernization, directly driving the growth of the Building Automation & Control System (BACS) market. The government's commitment to creating a more sustainable and technologically advanced built environment has led to increased investments in smart building technologies, including BACS.
One of the key components of Vision 2030 is the development of smart cities like NEOM, a $500 billion mega-city project that promises to integrate cutting-edge technologies to enhance urban living. BACS plays a crucial role in such projects by ensuring efficient energy management, improved security, and optimized building operations. The government's push for green building certifications and energy efficiency standards also compels builders and developers to adopt advanced automation and control systems.
The Saudi government has introduced several policies and incentives to encourage the adoption of smart building technologies. These include subsidies for energy-efficient projects, regulatory frameworks promoting green buildings, and public-private partnerships to foster innovation in the construction sector. As a result, the demand for BACS in both new constructions and retrofitting existing buildings is on the rise, supported by favorable government policies and a clear vision for a sustainable future.
Key Market Trends
One of the most prominent trends in the Saudi Arabia Building Automation & Control System (BACS) market is the increasing integration of smart technologies. This trend is transforming the way buildings are managed, operated, and maintained. BACS with smart technologies allow for real-time data collection and analysis from various building systems, such as HVAC, lighting, security, and energy management. This interconnectedness facilitates enhanced control, improved efficiency, and greater occupant comfort.
The use of IoT in BACS enables predictive maintenance, where potential issues can be identified and addressed before they lead to system failures. This not only reduces downtime but also extends the lifespan of equipment and lowers maintenance costs. Furthermore, smart technologies provide advanced analytics and machine learning capabilities, allowing building managers to make data-driven decisions to optimize performance and energy usage.
Smart sensors and devices are becoming more affordable and widely available, driving their adoption in new construction and retrofit projects. For instance, smart thermostats, lighting controls, and occupancy sensors are increasingly common in both residential and commercial buildings. These devices can communicate with each other and with central control systems, creating a cohesive and intelligent building environment.
The integration of smart technologies and IoT in BACS also aligns with the Kingdom's Vision 2030, which emphasizes the development of smart cities and sustainable infrastructure. As such, the trend towards smarter buildings is expected to gain further momentum, supported by technological advancements and government initiatives.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 89 |
| Forecast Period | 2023 - 2029 |
| Estimated Market Value (USD) in 2023 | $2.07 Billion |
| Forecasted Market Value (USD) by 2029 | $3.52 Billion |
| Compound Annual Growth Rate | 9.1% |
| Regions Covered | Saudi Arabia |
Report Scope:
Key Market Players
- Siemens AG
- Johnson Controls International plc
- Honeywell International Inc.
- Schneider Electric SE
- ABB Limited
- Delta Controls Inc.
- Crestron Electronics, Inc
- RTX Corporation
- Emerson Electric Co.
- Cisco Systems, Inc.
Saudi Arabia Building Automation & Control System Market, By Industry Segment:
- HVAC Control Systems
- Lighting Control Systems
- Electronic Security & Safety
- Building Energy Management System
Saudi Arabia Building Automation & Control System Market, By Application:
- Commercial
- Industrial
- Residential
Saudi Arabia Building Automation & Control System Market, By End User:
- Hospitality
- IT/ITES
- Retail
- BFSI
- Transportation
- Residential Complexes
- Education
- Manufacturing
- Utilities
- Others
Saudi Arabia Building Automation & Control System Market, By Region:
- Riyadh
- Makkah
- Madinah
- Eastern Province
- Dammam
- Rest of Saudi Arabia
For more information about this report visit https://www.researchandmarkets.com/r/ou8i6q
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