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Building Automation Systems Market Trends

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Report ID: 3697
Published Date: Aug 23, 2024
Report Format: PDF, PPT

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Building Automation Systems Market Trends

Growth Drivers

Increasing Need for Proper Energy Management
Rising Emphasis on Overcoming Utility Costs Globally

Challenges

False Notion About High Installation Costs of Building Automation Systems

Building Automation Systems Market: Key Insights

Base Year	2023
Forecast Year	2024-2036
CAGR	10.2%
Base Year Market Size (2023)	USD 89.14 billion
Forecast Year Market Size (2036)	USD 315.09 billion
Regional Scope	North America (U.S., and Canada) Asia Pacific (Japan, China, India, Indonesia, South Korea, Malaysia, Australia, Rest of Asia Pacific) Europe (UK, Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe) Latin America (Mexico, Argentina, Brazil, Rest of Latin America) Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)

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Browse Key Market Insights with Data Illustration:

Building Automation Systems Market Size & Share, Growth Report by 2036

Author Credits: Abhishek Verma

Report ID: 3697
Published Date: Aug 23, 2024
Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

In the year 2024, the industry size of building automation systems is assessed at USD 96.41 billion.

Building Automation Systems Market size was valued at USD 89.14 billion in 2023 and is expected to exceed USD 315.09 billion by 2036, expanding at over 10.2% CAGR during the forecast period i.e., between 2024-2036. The market growth is driven by increasing need for proper energy management, and rising emphasis on overcoming utility costs globally.

Asia Pacific industry is estimated to hold largest revenue share by 2036, on the back of surging industrial and construction activities, and high economic growth in the region.

The major players in the market are Schneider Electric, Siemens AG, United Technologies Corp., Honeywell International, Inc., and others.

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