In 2021, the size of the building automation system market was $77.1 billion, and it will reach
$207.5 billion by 2030, propelling at a growth rate of about 12% during 2021–2030. The increasing need for energy-efficient infra, lower cost of operations and upkeep, improved quality of indoor air, and managed home automation services and the progressions in sensors, communication technologies, touchscreen displays, and analytics take the market forward.
Commercial users have the largest share, at about 40%, in the building automation system market. As per a government association, approximately 30% of the energy used in commercial buildings is wasted, and it can be saved using BAS, as these systems can regulate cooling and heating, lighting, appliances, and other electrical appliances for the maximization of energy efficiency and productivity of workers. Hence, supermarkets, shopping malls, restaurants, warehouses, office buildings, colleges, schools, libraries, museums, nursing homes, and hospitals are accepting these solutions to reduce the costs related to building management.
Wireless systems will experience a higher sales growth rate, of about 14%, in the coming years, as they are easy to fit and use and offer greater operational and control freedom than wired ones. Wired technology dominates the building automation system market since wired systems perform specific tasks, which is why their performance is usually better than wireless systems. Additionally, system latency is significantly abridged, thereby enabling seamless operation of numerous circuits, chiefly when controlling numerous devices or circuits.
North America dominated the building automation system market, with an estimated share of over 30%, in the year 2021. This is chiefly because of the technical developments and strict policies pertaining to energy efficiency and the quick acceptance of building automation. Furthermore, the increasing outlay for facility management in public buildings is encouraging the implementation of these solutions. Credited to the same factors, as well as regional countries’ efforts to meet the Paris goals, Europe is another significant user of these solutions
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