According to our latest market study on "Building Automation System Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Component, Application, and Communication Technology," the market is expected to grow from US$ 70 billion in 2021 to US$ 175 billion with an estimated CAGR of 12% from 2022 to 2028.
Demand for More Technological Advanced Building Systems Penetrate Building Automation System Market
A building controlled by automation is often referred to as an intelligent building or a smart building. The demand for various systems, such as security & access control units, fire protection, facility management, and HVAC control, is rising to make building more connected and automated. With the growing scope of network integration worldwide, the inclination toward BAS will continue to propel. In a smart building, network integration communication within the mentioned systems becomes easy and quick. For instance, use of the Internet of Buildings can facilitate individuals and buildings to communicate to each other in real-time. Moreover, the emergence of virtual smart buildings is expected to continue playing a vital role in the construction industry.
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NOTE: Our analysts monitoring the situation across the globe explains that the market will generate remunerative prospects for producers post the COVID-19 crisis. The report aims to provide an additional illustration of the latest scenario, economic slowdown, and COVID-19 impact on the overall industry.
COVID-19 Impact Analysis -
The COVID-19 onset has positively impacted the demand for building automation systems. Building analytics is a powerful tool to support building owners in boosting buildings safely and efficiently during the pandemic and the recovery phase. Existing building analytics platforms improved, and the focus on compliance reporting and investment in sensors, such as motion detectors, people counting cameras, and indoor air quality sensors, increased during the pandemic. To facilitate proper communication for managing the pandemic crisis, the demand for automated & connected systems, including safety & security control and access control, was boosted.
Building Automation System Market Regional and Country-wise Analysis:
- North America (U.S., Canada, Mexico)
- Europe (U.K., France, Germany, Spain, Italy, Central & Eastern Europe, CIS)
- Asia Pacific (China, Japan, South Korea, ASEAN, India, Rest of Asia Pacific)
- Latin America (Brazil, Rest of Latin America)
- The Middle East and Africa (Turkey, GCC, Rest of the Middle East and Africa)
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The purposes of this analysis are:
- To characterize, portray, and check the Building Automation System market based on product type, application, and region.
- To estimate and inspect the size of the Building Automation System market (in terms of value) in six key regions, specifically, North and South America, Western Europe, Central & Eastern Europe, the Middle East, Africa, and the Asia-Pacific.
- To estimate and inspect the Building Automation System markets at country-level in every region.
- To strategically investigate every sub-market about personal development trends and its contribution to the Building Automation System market.
- To look at possibilities in the Building Automation System market for shareholder by recognizing excessive-growth segments of the market.
Our report offers:
- Market share assessments for the regional and country-level segments.
- Inventory network patterns planning the most recent innovative progressions.
Key suggestions for the new participants.
- Piece of the pie examination of the top business players.
- Market conjectures for at least 9 years of the relative multitude of referenced fragments, sub-portions, and the local business sectors.
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and suggestions).
- Organization profiling with point by point techniques, financials, and ongoing turns of events.
- Serious arranging planning the key regular patterns.
- Key suggestions in key business portions dependent on market assessments.
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