Global Building Automation and Controls Market is valued at approximately USD XX billion in 2022 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2023-2030. Building automation simplifies the management and oversight of building systems, surrounding facility management, security and access controls, fire and life safety alarms, and other safety mechanisms. By optimizing energy consumption, enhancing occupant comfort, and streamlining building operations, building automation systems contribute to energy efficiency and operational efficiency. The increasing demand for energy-efficient buildings with robust security systems is a key driver propelling the growth of the building automation systems market. The market growth is driven by key factors such as growing deployment of building automation systems and increase in adoption of IoT and AI integrated electronics.

For instance, Statista forecasts that the global building automation market will generate revenue of USD 273 billion by 2023. The market as a whole is projected to exhibit a compound annual growth rate of seven percent from 2020 to 2023. Moreover, the home automation systems market in Europe is anticipated to expand from USD 495.3 million in 2020 to approximately USD 1.5 billion by 2027. The primary drivers of this growth are expected to be indoor air quality products and energy-efficient retrofitting, with a compound annual growth rate of 17.2 percent during this period. However, security & access control systems stifle market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Building Automation and Controls Market study include Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America has emerged as the leading market for the global building automation and controls market, commanding a market share of around XX% and generating revenue of approximately XX billion. This leadership position can be attributed to the increasing adoption of automated security systems, rapid proliferation of Internet of Things (IoT) technology, and the advancement of wireless sensor network building automation and controls technology. Conversely, the Asia-Pacific market is forecasted to witness the fastest compound annual growth rate (CAGR) between 2022 and 2030. This accelerated growth trajectory is likely fueled by the robust economic expansion of key countries in the Asia-Pacific region and optimistic growth projections for the construction industry.

Major market player included in this report are:
GENERAL ELECTRIC
Johnson Controls
HONEYWELL INTERNATIONAL INC.
Legrand
BEIJER ELECTRONICS
ABB, Ltd.
Control4
Lutron Electronics Co., Inc
SIEMENS AG
SCHNEIDER ELECTRIC


Recent Developments in the Market:
? In June 2022, NVIDIA and Siemens AG extended their collaboration to facilitate the development of the industrial metaverse and enhance the utilization of AI-driven digital twin technology. This advancement is poised to elevate industrial automation to unprecedented levels.
? Siemens AG unveiled Siemens Xcelerator, an open digital business platform, in June 2022. Engineered to accelerate digital transformation and value generation for clients across diverse industries such as buildings, grids, and mobility, this platform enables rapid and scalable digital transformation initiatives.
Global Building Automation and Controls Market Report Scope:
? Historical Data – 2020 - 2021
? Base Year for Estimation – 2022
? Forecast period - 2023-2030
? Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
? Segments Covered – Product Type, Offering Industry Verticals, Region
? Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa
? Customization Scope - Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Product Type:
HVAC Controls
Lighting Controls
Security & Access Controls
By Offering:
Integration
Services

By Industry Verticals:
Residential
Enterprise
Industrial
Hospitality
Retail
Others

By Region:

North America
U.S.
Canada

Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC

Latin America
Brazil
Mexico

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa