Building Automation Market

What Are the Growth Projections for the Building Automation Market to Hit $227.1 Billion by 2031?

Building Automation Market 2024-2031 The Building Automation Market by Offering, Technology, Sector, and Geography Global Forecast to 2031 report indicates that the building automation market is set to reach $227.1 billion by 2031, growing at a CAGR of 10.2% from 2024 to 2031. Building automation encompasses the use of control systems to manage a building s HVAC, lighting, alarms, and security systems. These systems are increasingly integrating with IoT and cloud platforms, facilitating centralized management, remote monitoring, and smart building integration. Request For Sample Report: https://www.meticulousresearch.com/request-sample- report/cp_id=5857? Impact of Technological Innovations Advances in technology, including IoT, 5G, AI, and cloud computing, have reduced the costs associated with building automation systems. The rise of wireless technology and intuitive interfaces has simplified installation processes, making these systems more accessible. Factors such as government initiatives promoting energy efficiency, technological progress, and evolving consumer preferences for comfort and convenience are driving market growth. Additionally, the rise in security solutions for commercial buildings further supports the market expansion. Segmentation by Offering The market is divided into several offerings: HVAC systems, security & access control systems, energy management systems, water management systems, lighting systems, fire protection systems, facility management systems, and system services. HVAC systems are expected to lead the market with over 30% share in 2024 due to growing environmental concerns, urbanization, and technological advancements. For example, Fr. Sauter AG (Switzerland) introduced new IoT- capable actuators in July 2022 for improved HVAC control. Technology Trends The market is segmented into wired and wireless technologies. Wired technology is projected to dominate, capturing over 65% of the market in 2024. This is because wired solutions offer reliable performance for fire alarms and security systems, and there is a strong preference for stable wired connections in building automation. Wired systems are particularly valued for their low latency in applications like HVAC control. Sector Analysis The market is also divided by sector into residential, commercial, and industrial categories. The commercial sector is forecasted to hold over 40% of the market share in 2024. This is driven by stricter energy regulations, advancements in technology, and the growing use of biometric systems for security in commercial spaces. For instance, 75F, Inc. (U.S.) launched new solutions in April 2023 to boost building efficiency and reduce costs in commercial environments. Regional Insights Page 1 of 2 Meticulous Research| sales@meticulousresearch.com

Building Automation Market 2024-2031 The market is geographically segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. North America is projected to have the largest share, exceeding 35% in 2024. The region benefits from high technology adoption rates, a strong presence of key players, and a focus on energy efficiency. North America s efforts to reduce carbon footprints are supported by building automation solutions. In April 2024, Johnson Controls International plc (Ireland) introduced a Security Operations Centers (SOC) service in North America to enhance commercial building safety and productivity. Leading Market Players Key players in the building automation market include Siemens AG (Germany), Honeywell International Inc. (U.S.), ABB Ltd. (Switzerland), Schneider Electric SE (France), Johnson Controls International plc (Ireland), Cisco Systems, Inc. (U.S.), Huawei Technologies Co., Ltd. (China), Robert Bosch GmbH (Germany), Legrand (France), Delta Electronics, Inc. (Taiwan), Hubbell Incorporated (U.S.), Trane Technologies plc (Ireland), Lutron Electronics Co., Inc. (U.S.), Mitsubishi Electric Corporation (Japan), and Crestron Electronics, Inc. (U.S.). Buy Now: https://www.meticulousresearch.com/Checkout/95173266? About Meticulous Research Meticulous Research was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. The name of our company defines our services, strengths, and values. Since the inception, we have only thrived to research, analyze, and present the critical market data with great attention to details. With the meticulous primary and secondary research techniques, we have built strong capabilities in data collection, interpretation, and analysis of data including qualitative and quantitative research with the finest team of analysts. We design our meticulously analyzed intelligent and value-driven syndicate market research reports, custom studies, quick turnaround research, and consulting solutions to address business challenges of sustainable growth. Contact Us: Meticulous Research Email- sales@meticulousresearch.com Contact Sales- +1-646-781-8004 Connect with us on LinkedIn- https://www.linkedin.com/company/meticulous-research Page 2 of 2 Meticulous Research| sales@meticulousresearch.com