Intelligent Building Automation Technologies Market Share, Size, Trends, Industry Analysis Report, By Product; By Technology; By Component (Services, Hardware, Software); By End-User; By Region; Segment Forecast, 2024 - 2032
- Published Date:Apr-2024
- Pages: 117
- Format: PDF
- Report ID: PM1431
- Base Year: 2023
- Historical Data: 2019-2022
Report Outlook
Intelligent building automation technologies market size was valued at USD 90.47 billion in 2023. The market is anticipated to grow from USD 99.38 billion in 2024 to USD 232.32 billion by 2032, exhibiting the CAGR of 11.2% during the forecast period
Intelligent Building Automation Technologies Market Overview
Intelligent building automation technologies are rising at a fast pace to meet the customers’ demands for comfortable, safe, efficient, convenient, energy-saving, and flexible modern buildings designed by combining high-tech innovations. Rich contents found in building automation systems are reflected in several areas, such as building management and services, building equipment, building structure, and so on. Building automation control systems, which are a crucial component of intelligent buildings, primarily consist of air conditioning, fire suppression, power transformation and distribution, water supply and drainage, lighting, and security monitoring systems. Each of these systems has a significant function to play. The humanized user interface is prioritized by the building automation system in intelligent buildings, which gives building occupants a pleasant and comfortable place to live and work.
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- For instance, in August 2023, Siemens integrated eMobility into Smart Buildings to achieve dependable expansion of green energy electromobility by utilizing the vast capabilities of their monitoring and automation systems to provide solutions.
Due to COVID-19, there was a quick development of information and communication technology (ICT), which made it possible to produce more useful tools and systems to support a wider range of industries, including business, government, healthcare, education, construction, and tourism. The fourth industrial revolution, or Industry 4.0, aiding faster processing power and nearly instantaneous device connection, helped the Internet of Things (IoT) to take off, which supported economic growth and building automation initiatives.
However, the requirement for constant maintenance of the automation systems of the buildings to function effectively, along with its huge implementation costs, makes it unfavorable for being the go-to solution.
Intelligent Building Automation Technologies Market Dynamics
Market Drivers
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Rise in adoption of energy efficient innovations in buildings
Energy-efficient technologies easily comply with automation technologies as they provide advanced solutions that not only improve energy management and operational efficiency but also make a substantial contribution towards reaching net-zero carbon emissions. Through the utilization of real-time data analytics and smart controls, these technologies maximize the utilization of resources, leading to significant reductions in energy consumption and operating expenses. For instance, by adding aerogels, better insulation may be achieved in building components like roofs and walls. It improves thermal comfort but also lowers environmental impact and saves electricity.
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Rising adoption of building automation
The automation technologies in buildings are rising, leading to the need for improved security and safety, leading to providing improved efforts to customers with high-tech, revolutionary, cutting-edge technology in automation has impacted the expansion of the intelligent building automation technologies market. Large-scale industrial expansion is anticipated to be supported by the adoption of several building automation protocols and the installation of intelligent building automation systems (BAS) in homes. Intelligent building automation solutions track and evaluate a facility's productivity, comfort, and sustainability. For instance, in February 2021, ABB supported the construction of the New Development Bank (NDB) based in Shanghai by establishing an automated, intelligent building control system to manage indoor lighting, electric curtains, and windows while satisfying the design needs to reduce the building's impact on the environment.
Market Restraints
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High initial cost investment.
Building automation enterprises face a major obstacle in the form of high implementation costs. The expensive cost of the gear, software, and installation makes them hard to adjust to, especially for smaller facilities. This limits uptake, increases payback periods, and encourages clients to choose less complex solutions. However, Costs are being reduced by standardization, modular systems, and technological advancements.
Report Segmentation
The market is primarily segmented based on product, technology, component, end-user, and region.
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Intelligent Building Automation Technologies Market Segmental Analysis
By Product Analysis
- Facilities management systems are the largest contributor to this market, due to the rising need for requirement of tracking systems for energy consumption by residential and commercial infrastructures. These systems have a number of advantages, including lower carbon emissions, easier identification of power problems, and lower energy use. With the goal of cutting expenses and raising efficiency, they keep an eye on the amount of energy used by mechanical and electrical devices such as heaters, air conditioners, and ventilators.
- The life safety systems segment is anticipated to increase at a considerable CAGR throughout the projected period. Any building must include life safety systems, such as fire detection, emergency evacuation, and security systems, to guarantee the security and safety of its people. By incorporating intelligent technology, these systems can identify, respond to, and manage situations more efficiently and effectively, improving overall safety.
By Technology Analysis
- The sensor technology segment has dominated this market due to its ability to provide improved user control over lighting and temperature settings, such as automated ventilation, heating, and air conditioning, in addition to detecting, regulating, and maintaining a variety of building services. According to the trend, traditional building automation is giving way to the Building Internet of Things (BIoT). For instance, in January 2023, Wipro Limited showcased "Smart i-Building," the latest smart building solution that runs on Microsoft Azure (IoT platform), which better utilizes corporate space, lowers energy consumption, and increases operational efficiency.
- Wireless technology is expected to grow at a healthy CAGR due to the sophistication of linked devices and sensors, which are responsible for managing and controlling a number of building operations, including security, HVAC (heating, ventilation, and air conditioning), and lighting. It uses wireless communication protocols instead of traditional wired systems, which simplifies and lowers the cost of scaling and installation.
By Component Analysis
- The hardware segment has dominated most of the market shares as it manages and monitors the building facilities environment, also known as intelligent building automation technology. A variety of hardware devices are employed, including sensors, actuators, and controllers. Together, these gadgets guarantee that the building climate stays within permissible bounds and that automated control methods are utilized.
- The service segment is anticipated to grow at the quickest CAGR throughout the projected year. Engineering services that are energy-efficient, secure, and cost-effective are put into smart building services, which practically lower operating costs and energy usage and boost productivity.
By End-User Analysis
- The commercial segment has dominated the market with the largest revenue share due to significantly reducing the cost of energy, spatial management, and maintenance at major commercial sites, including industrial zones, office parks, and airports. The strict energy consumption restrictions and growing demand to increase commercial building efficiency are likely to maintain their dominance during the projected period.
- The residential category is anticipated to increase at the quickest CAGR due to the need to reduce expenses and conserve energy. Property owners want to optimize the indoor environment, which saves energy expenses, by using data from motion and occupancy sensors at the building level to control and monitor lighting and air conditioning in real-time.
Intelligent Building Automation Technologies Market Regional Insights
The North America region dominated the global market with the largest market share
The North America region dominated the global market with the largest market share and is expected to maintain its dominance over the anticipated period. The growth of the segment market can be largely attributed to continuous improvement in innovation and research in technology. Numerous IT firms, academic organizations, and startups that are advancing intelligent building automation technology are based in the region. This leadership in technology encourages the creation and uptake of innovative solutions.
The Asia Pacific region is expected to be the fastest-growing region with a healthy CAGR during the projected period, owing to the governments making investments to create smart cities. For instance, the Indian government is expected to make an average investment of Rs 25,000-30,000 crore each for the development of 10-11 industrial smart cities until 2025 under the National Industrial Corridor Development Programme. Furthermore, the market for intelligent building automation technologies is being further stimulated by the rising number of foreign tourists, which is encouraging the implementation of security systems.
Competitive Landscape
The intelligent building automation technologies market is fragmented and is anticipated to witness competition due to several players' presence. Major service providers in the market are constantly upgrading their technologies to stay ahead of the competition and to ensure efficiency, integrity, and safety. These players focus on partnership, product upgrades, and collaboration to gain a competitive edge over their peers and capture a significant market share.
Some of the major players operating in the global market include:
- ABB Ltd.
- Azbil Corporation
- Carrier Global Corporation
- Delta Controls
- Eaton Corporation
- Emerson Electric co.
- General Electric
- Honeywell International
- Ingersoll Rand, Inc.
- Johnson Controls, Inc.
- Rockwell Automation, Inc.
- Schneider Electric SE
- Siemens Building Technologies Inc.
Recent Developments
- In February 2024, ABB and Amber Technology commenced the distribution of building automation and lighting control systems to meet customers' evolving needs.
- In November 2023, Samsung C&T and ABB decided to expand smart building capabilities to integrate smart connectivity and improve the liveability and energy efficiency of commercial and residential buildings.
Report Coverage
intelligent building automation technologies market report emphasizes on key regions across the globe to provide better understanding of the product to the users. Also, the report provides market insights into recent developments, trends and analyzes the technologies that are gaining traction around the globe. Furthermore, the report covers in-depth qualitative analysis pertaining to various paradigm shifts associated with the transformation of these solutions.
The report provides detailed analysis of the market while focusing on various key aspects such as competitive analysis, product, technology, component, end-users, and their futuristic growth opportunities.
Intelligent Building Automation Technologies Market Report Scope
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Report Attributes |
Details |
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Market size value in 2024 |
USD 99.38 billion |
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Revenue forecast in 2032 |
USD 232.32 billion |
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CAGR |
11.2% from 2024 – 2032 |
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Base year |
2023 |
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Historical data |
2019 – 2022 |
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Forecast period |
2024 – 2032 |
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Quantitative units |
Revenue in USD billion and CAGR from 2024 to 2032 |
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Segments covered |
By Product, By Technology, By Component, By End-User, By Region |
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Regional scope |
North America, Europe, Asia Pacific, Latin America; Middle East & Africa |
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Customization |
Report customization as per your requirements with respect to countries, region and segmentation. |
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