Global Building Automation System (BAS) Market Size, Share, Forecast Report 2019-2025

The global building automation system (BAS) market is expected to reach USD 119.23 Billion while experiencing a CAGR of 11.2% during the forecast period. Factors driving the market growth are increasing penetration of IoT, and rapid growth of construction industry in emerging economies. In addition, increasing demand for energy-efficient solution in buildings is expected to impel the industry growth over the years to come. Moreover, favorable government initiatives for the development of smart cities are creating an ample opportunity for the industry during the forecast period. However, high installation cost of automated systems along with extensive maintenance requirement, and lack of skilled technicians are anticipated to limit the market growth to some extent.

Building automation system is emerging as a cost-effective tool for different types of buildings. It provides an ease of installation as well as flexibility when modification of system is needed. Moreover, with increasing number of smart cities, the adoption rate of BAS is exponentially gaining momentum. It serves wide range of applications such as lighting, heating, ventilation, and air conditioning, and security among others. In addition, growing adoption of internet of things along with the implementation of real-time monitoring devices in smart commercial buildings is further propelling the demand for building automation system during the forecast period.

Evolution of smart cities in emerging economies is likely to fuel the market growth

The building sector is accounted for 30% of total energy consumption. It is estimated that most of the energy consumed is originated from fossil fuels. Many cities are facing harmful emissions, and thus deploying building automation system enables cities to lower down emissions by approx. 3%. Furthermore, it is used to ensure indoor environmental conditions while maintaining low operational cost and high energy efficiency.

Global Building Automation System – Regional Insight

Geographically, building automation system market is segmented into North America, Asia-Pacific, Europe, Middle East and Africa, and Central & South America. Asia-Pacific is likely to register the highest CAGR during the forecast period. The regional growth is primarily driven by increasing building construction along with the ongoing smart city projects in emerging economies such as China and India. However, North America held the largest market share in 2018, followed by Europe, and is expected to retain its dominance over the forecast period. Regional growth is highly influenced by the presence of prominent players in the region. Moreover, regulatory norms to attain zero carbon emission are further impelling the regional growth.

RESEARCH METHODOLOGY

The research and analysis are based on data and information obtained from various primary and secondary sources. The data obtained is validated by interacting with the companies of the concerned domain. The steps involved in the research methodology are;

• Obtaining historical data of the market based on news, articles, publications, annual reports, white papers, and other secondary sources
• Interacting with key opinion leaders of the market and developing data points based on interaction with them
• Study of past trends in the market and their year on year impact on the market size and share
• Analyzing the collected data points
• Bridging the data points to calculate the total building automation system market and its various segments
• Anticipating potential risks
• Analyzing market forces such as drivers, restraints, and opportunities to assess new growth areas for the BAS market
• Finalizing the overall size and share for the global building automation system market

The years used for the assessment are as follows;

• Historic years: 2015, 2016 and 2017
• Base year: 2018
• Forecast period: 2019 – 2025

OBJECTIVES:

• To classify the global building automation system market into segments and analyze their growth prospects individually.
• To analyze market trends, opportunities, drivers and restraints associated with the BAS market.
• Profiling key companies operating in the global building automation system market.
• To study market response with respect to the mergers and acquisitions in the industry