Building Automation System Market to Hit $148.6 billion by 2027 Globally, Growing At a CAGR of 11.4%

Chicago, Feb. 06, 2023 (GLOBE NEWSWIRE) -- According to a research report "Building Automation System Market by Offering (Facility Management Systems, Security & Access Controls, Fire Protection Systems, BEM Software, BAS Services), Communication Technology (Wireless, Wired), Application and Region - Global Forecast to 2027" published by MarketsandMarkets, the building automation system market is projected to reach USD 148.6 billion by 2027 from USD 86.8 billion in 2022; it is expected to grow at a CAGR of 11.4% from 2022 to 2027.

Building automation systems are used to automate and control heating, ventilation, and air-conditioning systems; lighting systems; and other systems installed in buildings to increase the comfort, safety, security, and convenience of occupants and make buildings energy efficient. A BAS is a computer networking system that monitors and controls a range of other electronic and mechanical systems. It provides a means for these disparate systems to communicate across platforms, software, and languages. The core functionality of a BAS is to maintain building climate based on an occupancy schedule, monitor performance and device failures in all systems, and provide malfunction alarms. Automation systems reduce building energy and maintenance costs. Almost all multi-story green buildings are designed to accommodate a BAS for energy, air, and water conservation. Most green buildings also use as many low-power DC devices as possible, typically integrated with power over Ethernet wiring. Even a piassavas design intended to consume no net energy whatsoever will typically require a BAS to manage heat capture, shading and venting, and scheduling device use.

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Building Automation System Market Report Scope

Browse in-depth TOC on " Building Automation System Market"

224 – Tables

67 – Figures

305 – Pages

Top 2 Players in Building Automation System market:

Johnson Controls

Johnson Controls offers security, fire detection, suppression, and life safety products and services. The products of the company are sold under the following brand names: Tyco, Simplex, Grinnell, Sensormatic, Ansul, Simplex, Scott and ADT, Software House, Visonic, Chemguard, and Exacq. In September 2016, the company merged with Tyco to move into the home security system business, with ~56% equity in advanced home security systems. Johnson Controls operates through four major segments—Building Solutions North America, Global Products, Building Solutions Europe, Middle East and Africa (EMEA)/Latin America (LA), and Building Solutions Asia Pacific. The company offers building automation systems through all of its four business segments. Its building automation systems help in connecting commercial HVAC, lighting, and security and protection systems with each other, enabling them to communicate on a single platform to deliver the required information. This helps in saving energy and providing comfort and safety to building occupants. Johnson Controls sells its building automation systems in more than 150 countries, primarily through its extensive global network of sales and service offices, with operations in ~65 countries.

Schneider Electric

Schneider Electric manufactures industrial engineering equipment, as well as power distribution and automation systems. The company operates through two business segments: Energy Management and Industrial Automation. It operates in four principal markets to cater to the requirements of non-residential and residential buildings, utilities and infrastructures, machine manufacturers, and data centers and networks. Schneider Electric has operations in more than 100 countries across Europe, North America, Asia Pacific, and RoW. It provides hardware, software, and services for energy management and automation. The company offers various building management systems, such as heating, ventilation, and air-conditioning (HVAC) controllers; sensors, valves, and actuators; programmable regulators; centralized building management systems; space optimization solutions; access control solutions; video cameras and security monitoring equipment; and power monitoring and control software, through its Energy Management segment.

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Recent Developments:

• In January 2022, Johnson controls unveils industry-first OpenBlue Indoor Air Quality as a service solution to help organizations keep occupants safe and healthy. OpenBlue Indoor Air Quality as a Service offering combines Johnson Controls technology and science-backed expertise to help customers meet complex health and safety compliance, while improving occupants' comfort and productivity.
• In January 2022, Johnson controls acquired foghorn, expanding leadership in smart and autonomous buildings. Acquisition is expected to accelerate Johnson Controls' innovation and vision for Smart Autonomous Buildings by pervasively integrating Foghorn's industry leading Edge AI platform throughout OpenBlue.
• In December 2021, Honeywell announced it has agreed to acquire privately held US Digital Designs, Inc., a Tempe, Ariz.-based company, for a purchase multiple of ~14X EBITDA in an all-cash transaction. The company delivers alerting and dispatch communications solutions, which enhance first responders' efficacy and enable faster emergency response times. The acquisition will be integrated into Honeywell's Fire and Connected Life Safety systems business and will expand Honeywell's line of solutions for public safety communications, providing first responders with better situational awareness of building emergencies and improved life safety.
• In May 2021, Honeywell launched a cloud-based solution that streamlines and combines operational and business data for building owners and managers to support better decision-making, drive greater efficiencies and reach sustainability goals. The new solution, Honeywell Forge Real Estate Operations, extends the capabilities of Honeywell Forge enterprise performance management software and was jointly developed with SAP on the SAP Business Technology Platform.

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