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Building Automation System Market - Global Forecast to 2022
"The BAS market estimated to grow at a CAGR of 10.73% between 2017 and 2022"
The building automation system (BAS) market was valued at USD 53.66 billion in 2016 and is expected to reach USD 99.11 billion by 2022, at a CAGR of 10.73% between 2017 and 2022. Factors such as increase in demand for energy-efficient systems, growing need for the automation of security systems in buildings, and advancement of IoT in BAS are expected to fuel the growth of the overall BAS market. However, the high cost of implementation, technical difficulties, and lack of skilled experts are the factors restricting the growth of the market.
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"BAS market for security and access control systems expected to grow at the highest rate during the forecast period"
The BAS market for security and access control systems is expected to grow at the highest rate during the forecast period. The need for increased level of security, activity monitoring, and access control has led to the rise in the demand for security and access control systems. The demand for home security solutions is also growing at a rapid pace because of various factors such as technological advancements, rise in crime rates, need for medical assistance to the senior citizens at home, and monitoring the children at home.
"BAS market in APAC likely to grow at the highest rate during the forecast period"
APAC is expected to be the fastest-growing market for BAS. The market in this region has been subsegmented into India, China, Japan, and Rest of APAC. The expected growth is attributed to the high economic growth witnessed by the major countries in this region. The rapid modernization and increase in construction activities in the APAC region has accelerated the growth of automatic centralized control of the HVAC systems installed in this region, ultimately leading to the growth of the BAS market in APAC. North America accounted for the largest share of the BAS market in 2016. The commercial and residential applications hold the largest share of the North American BAS market, and the demand of BAS for these applications as well as the growing demand for the industrial application is likely to fuel the BAS market in North America.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted with key industry people. The breakup of the profile of primary participants has been given below:
- By Company Type: Tier 1 = 30%, Tier 2 = 40%, and Tier 3 = 30%
- By Designation: C-Level Executives = 30%, Manager = 35%, and Others = 30%
- By Geography: North America = 40%, Europe = 20%, APAC = 30%, and RoW = 10%
The key market players profiled in the report are:
- Honeywell International Inc. (U.S.)
- Siemens AG (Germany)
- Johnson Controls International PLC (Ireland)
- Schneider Electric SE (France)
- United Technologies Corp. (U.S.)
- Robert Bosch GmbH (Germany)
- Legrand SA (France)
- Hubbell Inc. (U.S.)
- ABB Ltd. (Switzerland)
- Ingersoll-Rand Plc (Ireland)
- Lutron Electronics Co., Inc. (U.S.)
- Crestron Electronics, Inc. (U.S.)
- BuildingIQ (U.S.)
The BAS market is segmented on the basis of communication technology in wired technology and wireless technology. On the basis of application the market has been segmented into residential, commercial, and industrial application. The market is segmented on the basis of offering into facility management systems, security and access control systems, fire protection systems, building energy management software, BAS services, and others.
The geographic analysis of the BAS market has been done with regard to four major regions-North America, Europe, Asia-Pacific (APAC), and Rest of the World (RoW).
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