Published by mark itwired
Posted on October 5, 2021
5 min readLast updated: January 31, 2026
The building automation systems market, valued at $44.6Bn in 2021, is set to grow at a 7.8% CAGR by 2031, driven by AI and smart city initiatives.
As per a recent market survey by ESOMAR-certified consulting firm Future Market Insights (FMI), the global building automation systems market totaled US$ 44.6 Bn in 2021.
Rapid advancements in building automation systems, coupled with the emergence of connective technologies such as artificial intelligence, machine learning, and cloud computing will continue augmenting market growth during the forecast period. FMI projects the market to grow at a healthy 7.8% CAGR between 2021 to 2031.
After buckling the impacts of the unprecedented COVID-19 outbreak, the global building automation systems market experienced year-over-year growth by 7.0% between 2020 and 2021.
Building automation systems offer interconnectivity of machines and devices to manage and streamline daily operations in commercial, industrial, and residential sectors. Growing demand for convenience and comfort among tenants in modern residential spaces will continue providing tailwinds to BAS sales.
Besides this, emergence of smart cities across several countries is spurring demand for building automation systems. These systems facilitate energy efficiency, water and gas supply, lighting, temperature control, along with superior security and surveillance in residential as well as commercial buildings.
As per FMI’s in-depth regional analysis, the U.S. is anticipated to witness high demand for building automation systems during the assessment period. Growth in commercial sector, coupled with penetration of building automation systems in schools, universities, hospitals, and entertainment centers are estimated to fuel market growth through 2031.
Request a Complete TOC of this Report with figures:
https://www.futuremarketinsights.com/toc/rep-gb-2150
“Government-backed initiatives to encourage the development of smart buildings, coupled with post-sales assistance and services offered by market players will positively shape the demand outlook in the building automation systems market,” says the FMI analyst.
Key Takeaways:
Competitive Landscape
Honeywell International, Schneider Electric, Siemens AG, ABB, Johnson Controls, Plc, Delta Electronics, Inc., Eaton Corporation, Bosch Rexroth, Emerson, AVASGLO Group, Signellent Technologies (India) Pvt. Ltd., Comnatz Thailand Company Ltd, Deos AG, MCS Automation Technology Company Ltd., and Philips Lighting are some prominent players operating in the building automation systems market profiled by FMI.
As per FMI’s analysis, top 5 players in the building automation systems market comprise Siemens AG, Honeywell International, ABB, Schneider Electric, and Johnson Controls, plc, accounting for 44% of the total market share.
Prominent players in the building automation systems market are focusing on intensive research and development to add new products and services to their product portfolios. Apart from this, strategic collaborations, acquisitions, and mergers will remain key growth strategies among market players in the upcoming decade. For instance:
Ask us your Any Queries About this Report:
https://www.futuremarketinsights.com/askus/rep-gb-2150
More Insights on the Building Automation Systems Market
In its latest report, FMI offers an unbiased analysis of the global building automation systems market, providing historical data for the period of 2016-2020 and forecast statistics for the period of 2021-2031. In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of product type (hardware, software, and services), system type (security & surveillance, HVAC, lighting solutions, and building energy management), application type (commercial, residential and governmental), and across seven regions (North America, Latin America, Europe, South Asia, East Asia, Oceania, Middle East, and Africa).
Explore wide-ranging Coverage of FMI’s Industrial Automation Market Insights Landscape
Magnetic Drive Pump Market–2021 – 2031 Analysis and Review: Magnetic Drive Pump Market By Pump Type – Centrifugal Pumps and Positive Displacement Pumps for 2021 and 2031
Tower Crane Rental Market– 2021 – 2031 Analysis and Review: Tower Crane Rental Market by Design—Top Slewing and Bottom Slewing for 2021-2031
Heat Shrink Tubing and Sleeves Market -2021 Analysis and Review: Heat Shrink Tubing and Sleeves Market by Sales Channel—Original Equipment Manufacturer (OEM) and Aftermarket for 2021-2031
About Industrial Automation Division at Future Market Insights
The Industrial Automation & Equipment division at FMI adopts a novel approach and innovative perspective in analyzing the global machinery and industrial automation market. A range of FMI’s market research reports offer comprehensive coverage of capital, portable, process, construction, industrial, and special purpose machinery used across manufacturing sector. The team also conducts distinctive analysis about installed base, consumables, replacement, and USP-feature application matrix, making us a prominent voice of authority in the industry. We are associates of choice for established as well as budding industry
The post Over US$ 44.6 Bn Opportunity to be Created in Building Automation Systems Market:Says FMI appeared first on Industry News Analsis.
The article discusses the growth and opportunities in the building automation systems market.
Advancements in AI, smart city initiatives, and demand for energy efficiency drive growth.
The U.S., China, and Europe are key regions for market expansion.
Explore more articles in the Research Reports category
