Wilmington, Delaware, United States, Nov. 14, 2023 (GLOBE NEWSWIRE) — Transparency Market Research Inc. – The market for commercial building automation accounted for US$ 32.96 billion in 2020. TMR predicts the commercial building automation market is expected to reach US$ 76.49 billion by 2031. Through 2031, the market is expected to expand at a CAGR of 8.3%.
Businesses are more likely to invest in building automation systems as their awareness of the benefits grows. Building owners and managers are encouraged to participate in education and training programs to gain a deeper understanding of the advantages of automation.
The integration of building automation with advanced security systems enhances overall safety. Access control, surveillance, and emergency response systems can be integrated into the automation platform, providing a comprehensive approach to building security.
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Global Commercial Building Automation Market: Key Players
The top Commercial Building Automation vendors are focusing on making more affordable Commercial Building Automations. The leading players are also diversifying their product portfolios and acquiring other companies. Other key trends in the Commercial Building Automation market include
- ABB Ltd.
- Cisco Systems Inc.
- Honeywell International Inc.
- Hubbell Inc.
- Emerson Electric Co.
- Johnson Controls International plc
- Robert Bosch GmbH
- Schneider Electric SE
- United Technologies Corp.
- Siemens AG
Key Findings of Market Report
- The growing government initiative to promote green buildings is driving demand for commercial building automation.
- Smart city initiatives and technologies are expected to drive demand for commercial building automation systems.
- Using automation to control and monitor energy usage, buildings can be made more energy-efficient.
- Many building control systems, including heating and security, are becoming more sophisticated and often rely on cloud technologies to operate remotely.
- Artificial intelligence and machine learning help predict equipment issues and improve building performance.
- With features like smart lighting and personalized climate control, automating buildings makes them more user-friendly.
- The number of connected devices in buildings is increasing, which makes it essential to protect building systems from cyber threats.
Global Commercial Building Automation Market: Growth Drivers
The need for energy conservation and increased awareness of environmental issues have contributed to the focus on sustainable practices. Controlling lighting, HVAC, and other systems via building automation systems (BAS) optimize energy consumption.
By optimizing energy usage, preventing preventative maintenance, and enhancing overall efficiency, building automation systems help reduce operational costs. Businesses increasingly adopt these solutions to reduce utility costs and improve building operations.
Building automation systems have been adopted more commonly due to energy regulations and government initiatives encouraging sustainable practices. Organizations that implement energy-efficient technologies may be eligible for financial incentives and rebates.
Building automation solutions have become more sophisticated and interconnected with technological advancements, such as artificial intelligence (AI) and the Internet of Things (IoT). Data analytics, remote control, and real-time monitoring are all made possible by these technologies.
By integrating building automation systems, occupants may experience greater comfort and well-being. Increased productivity and employee satisfaction are attributed to these systems because they provide optimal lighting, temperature control, and air quality.
Buildings that are intelligent and integrate multiple systems are becoming popular. Several IoT devices are now included in building management ecosystems, including access control, security, and data collection.
With global events such as the COVID-19 pandemic, remote monitoring and control of building systems have become increasingly important. Automation is a way to improve the flexibility of building operations by allowing building managers to perform operational management and optimization from any location.
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Global Commercial Building Automation Market: Regional Landscape
Europe is expected to lead the commercial building automation market. Regulations in Europe mandate automation in large, non-residential buildings. Regulations of this kind also positively impact the market demand for these products. Security concerns also contribute to the growth of security systems as they become more prevalent in commercial buildings.
According to the Buildings Performance Institute Europe (BPIE), automation can significantly reduce energy costs in virtually any commercial building, regardless of energy prices, usage, and climate. By controlling access to certain areas and monitoring activity, building automation systems can enhance security in commercial buildings. By detecting fires and other emergencies, these systems can also enhance safety.
- In October 2023, 75F, a leading provider of smart building automation, launched Saffron AI, a building automation platform powered by artificial intelligence. Through Saffron AI, facilities professionals will be able to communicate directly with their buildings, helping them reach new levels of efficiency.
- In November 2023, with the growing demand for smarter, more sustainable, and more connected cities, Grundfos, a leading pump manufacturer and water technology company, unveiled its new NK and NKE products in Singapore. With enhanced monitoring capabilities, additional connectivity, and ease of use, energy efficiency is enhanced with NKE pumps.
Global Commercial Building Automation Market: Segmentation
- By Product Type
- Power Supply
- Room Automation
- I/O Module
- Actuators & Actuators Module
- HVAC Systems
- Security and Surveillance
- Illumination and Light Sensors
- Fire Protection Systems
- Energy Management Systems
- Others (Interfacing Components, Elevator and Escalator Management, etc.)
- By Solution Offering
- Lighting Control and Regulation
- Interfacing and Inter-working with Other Building Systems
- Blind and Shutter Control
- Temperature Control and Regulation
- Energy and Load Management
- Security and Fault Monitoring
- Visualization and Remote Control
- Monitoring, Reporting, Display
- By End-user
- Hospitality Sector
- By Region
- North America
- Asia Pacific
- Middle East & Africa
- South America
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New Delhi, March 17, 2023 (GLOBE NEWSWIRE) — Global commercial building automation market is flourishing due to the growing deployment of automation systems in buildings, malls, and locations that serve as major public transportation hubs, such as train stations and airports.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the global commercial building automation market size at USD 37.98 billion in 2022. During the forecast period between 2023 and 2029, BlueWeave expects global commercial building automation market size to grow at an impressive CAGR of 8.29% reaching a value of USD 65.94 billion by 2029. One of the major factors driving the market growth is an increasing demand for energy-efficient commercial buildings. Adoption of various automation protocols, IoT in building automation systems, and a rising demand for building automation in small and medium-sized buildings all contribute to the market’s growth. The development of wireless commercial building automation systems as well as supportive government initiatives are expected to provide opportunities for the market expansion.
Global Commercial Building Automation Market – Overview
Building automation systems’ main objectives are to increase building system efficiency, decrease operating costs and energy consumption, increase occupant comfort, and lengthen the utility life cycle. By offering straightforward software interfaces that can be accessed from anywhere using portable electronic devices like tablets and smartphones, they help ease infrastructure management tasks.
Global Commercial Building Automation Market – By Communication Technology
Global commercial building automation market is divided into two segments based on communication technology: Wired Technology and Wireless Technology. The wired technologies control lighting, heating, and ventilation systems. It includes power line carrier (PLC), Ethernet/IP network technology, LonWorks network-based products, and Z-Wave wireless protocol solutions. Wired building automation technologies are classified into two types: wired smart sensor systems and integrated wired systems.
Impact of COVID-19 on Global Commercial Building Automation Market
Following the COVID-19 outbreak, the majority of commercial and industrial construction projects began more slowly, though some were abandoned. Some HVAC manufacturers were forced to halt production for several weeks, and installers discovered that sanitary regulations limited the scope of their new installation projects. Nonetheless, the increased ventilation demand driven by COVID-19 boosted AHU sales in European countries, such as Italy.
Global commercial building automation market is fiercely competitive. Prominent players in the market include ABB Ltd., Cisco Systems Inc., Honeywell International Inc., Hubbell Inc., Emerson Electric Co., Johnson Controls International plc, Robert Bosch GmbH, Schneider Electric, United Technologies Corp., and Siemens AG. These companies use various strategies, including increasing investments in their R&D activities, mergers, and acquisitions, joint ventures, collaborations, licensing agreements, and new product and service releases to further strengthen their position in the global commercial building automation market.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of Global Commercial Building Automation Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Global Commercial Building Automation Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
- In September 2022 – Honeywell International announced the Australian launch of Fire-lite, a suite of fire protection systems designed to meet the need of small and medium businesses. Mid-rise residential, warehouses, and retail spaces across Australia. Fire-Lite’scustomizable and intelligent addressable fire panels are designed to meet a range of building requirements by providing flexible solutions to support a variety of installations.
- In March 2022 – Trane Technologies announced its plans to expand its operations in Greenville country with an investment of USD 30 million. The company will add around 3,00,000 sq. ft of manufacturing capacity designed to enable and sustain the company’s growth.
Scope of the Report
|Years Considered||Historical Data – 2019–2022|
|Base Year – 2022|
|Estimated Year – 2023|
|Forecast Period – 2023–2029|
|Facts Covered||Revenue in USD Billion|
|Market Coverage||North America, Europe, Asia Pacific, Latin America, Middle East and Africa|
|Product/ Service Segmentation||Product, Enterprise Size, Communication Technology, Region|
|Key Players||ABB Ltd., Cisco Systems Inc., Honeywell International Inc., Hubbell Inc., Emerson Electric Co., Johnson Controls International plc, Robert Bosch GmbH, Schneider Electric, United Technologies Corp., Siemens AG|
- Building Management Systems
- Security and Access Control Systems
- Energy Management Systems
- Lighting Management Systems
By Enterprise Size
- Small and Medium-sized Enterprises
- Large Enterprises
By Communication Technology
- Wired Technology
- Wireless Technology
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
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