Dublin, April 18, 2024 (GLOBE NEWSWIRE) -- The "Building Automation Systems Market in North America 2024-2028" report has been added to ResearchAndMarkets.com's offering.
A comprehensive industry analysis has revealed significant growth within the North American building automation systems (BAS) market. Projected to expand at a CAGR of 11.8%, the market is expected to increase by USD 18.52 billion during the forecast period of 2023-2028.
The impetus for this growth stems from several industry-wide drivers, core among them being the intensifying focus on sustainability, the uprising demand for smart building solutions, and the growing embrace of building practices that prioritize occupant engagement and enhanced user experiences.
Segmentation Insights
The detailed report segments the market into application categories comprising commercial, industrial, and residential sectors, as well as by technology, splitting into wired and wireless systems. This segmentation provides an in-depth understanding of where the growth is most concentrated and crucially informs stakeholders of the dynamic shifts within the market.
Technological Advancements
A noteworthy trend identified within this market is the burgeoning integration of predictive analytics and artificial intelligence with BAS, which is anticipated to be a primary growth factor in the coming years. Additionally, the emergence of digital twin technology and building performance modeling, alongside a growing shift towards open protocols and system interoperability, is expected to fuel further market demand.
Geographical Landscape
Geographically, the report zeros in on the North American market, examining trends and opportunities that are unique to this region and essential for stakeholders to understand in order to capitalize on emerging growth opportunities.
Vendor Analysis
As part of the thorough market analysis, the report features a robust vendor landscape analysis, focusing on market leaders and emerging players. This analysis includes several prominent industry vendors, and underscores their role in shaping the market through innovation, reliability, and customer-centric strategies.
Future Outlook
The report also addresses future trends and challenges that are likely to influence the direction of market growth. Undoubtedly, this strategic insight assists organizations in aligning their strategies to optimize on the identified growth opportunities.
The building automation systems market in North America is segmented as below:
By Application
- Commercial
- Industrial
- Residential
By Technology
- Wired
- Wireless
Companies Profiled:
- ABB Ltd.
- Carrier Global Corp
- Emerson Electric Co.
- Honeywell International Inc.
- Hubbell Inc.
- Johnson Controls
- Legrand
- Mitsubishi Electric Corp.
- OMRON Corp.
- Robert Bosch GmbH
- Schneider Electric SE
- Siemens AG
- Texas Instruments Inc.
- Trane Technologies plc
- Rockwell Automation Inc.
For more information about this report visit https://www.researchandmarkets.com/r/wn172n
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
