Building Automation Systems Market

Market Snapshot

Persistence Market Research has recently released its updated analysis of the building automation systems industry and has given detailed insights on the global landscape. The building automation systems intelligence report suggests that the market is anticipated to surge at an astronomical CAGR of 11.3% over the decade. While the study depicts the current market valuation at US$ 85 Bn, it also predicts revenue to increase 2.9X by the end of 2031.

Key Points Covered in Building Automation Systems Industry Survey:

• Market estimates and forecast 2021-2031
• Key drivers and restraints impacting market growth
• Segment-wise, country-wise, and region-wise analysis
• Competition mapping and benchmarking
• Brand share and market share analysis
• Key product innovations and regulatory climate
• COVID-19 impact on demand for building automation systems and how to navigate
• Recommendation on key winning strategies

Mergers & Acquisitions to Drive Market Growth

Increasing use of technology in security has given a major push to the use of different systems, and building automation systems have also been a major part of this trend. Automation has taken over all technological aspects and has become a mainstream trend now.

With increasing integration of IoT, building systems are now becoming smarter than ever, and have become a one-stop solution for all building management needs.

New mergers and innovations are enhancing the capabilities of automation systems.

• One such instance is recently seen when IQnexus and Semtech have come together to enhance building automation with new indoor air & environment quality sensors utilizing LoRaWAN. These sensors can easily be integrated into existing building infrastructures due to their easy-to-deploy and cost-effectiveness capabilities.
• SmartRent.com Inc., a leading provider of smart building automation for property, completed its business combination with Fifth Wall Acquisition Corp. I (FWAA).

Mergers have become more common in the market landscape as most players involved in building automation systems are trying to expand their portfolio and promote innovation.

Security Threats to Change the Demography

Frequent security violations are a major concern for the different government and private establishments. The rising security concerns are fast changing the fabric of the global building automation systems market. This is a pertinent issue which is positively impacting the expansion of the global building automation systems market.

Amongst all the market segments, the security and access controls segment presently holds a major share of the global building automation systems market.

The modern installations are mostly equipped with smart fire and social alarm systems and most of the government and private buildings are gearing themselves with intrusion alarms and assess control systems to shield themselves from any unforeseen incidences of terror. In the modern era security has a monumental importance.

Highly digitized and compatible building automation systems are in great demand in the market, as the advanced crop of these systems is backed by IOT, Bluetooth and other mobile applications.

Apart from private and commercial buildings some of the best luxury properties around the globe are putting security at the top of their list. This changing scene will speed up the development of the global building automation systems market.

Security & Surveillance Segment to Surge

The security and surveillance segment of the global building automation systems market will reap maximum benefits from emerging security threats. The value of the security and surveillance segment witnessed a significant rise in the year 2021 and it is expected to increase at a good pace between 2021 and 2031.

By the end of the assessment period the security and surveillance segment of the global building automation systems market is expected to amount for a substantial value share. This segment is also expected to record a stellar CAGR over the period of forecast.

On the basis of revenue the security and surveillance segment will occupy a lion share of the global building automation systems market.

Innovations to Drive Market

The major shareholders of the market such as Johnson Controls have recently inked a deal with the Tyco, an Ireland based fire and security solution provider and created a new corporate entity named, Johnson Controls International Plc.

This merger is a clear indicator of the fact that the major stakeholders of the global building automation systems market are eyeing the security and surveillance segment.

Another giant in the market Honeywell Corporation is diverting its resources to aid the rising demand of the security and surveillance segment. To maintain the market dominance the key players of the market are enhancing their research and development activities and building an arsenal of new and edgy products.

Security and Surveillance Segment: Revenue to Surge Over the Forecast Period

The security and surveillance segment will fetch moderate results from the North America building automation systems market. A slew of security breach incidences in the recent past in this region will nurture a climate of growth for the security and surveillance segment.

In regions such as Latin America the HVAC segment will outshine the security and surveillance segment within the period of assessment. But the Y-O-Y growth of the security and surveillance segment will continue until the end of 2031.

Market Segmentation: