Surge in Demand for Energy-Efficient Systems in various buildings is expected to fuel the growth of the market.

New York, NY -- (SBWire) -- 04/20/2021 --Building Automation & Control Systems (BACS) Market Size – USD 69.44 billion in 2018, Market Growth - CAGR of 7.7%, Market Trends – Mounting Demand for the automating the Security Systems in Buildings.

The global Building Automation & Control Systems (BACS) market is expected to reach USD 129.41 billion by 2026, according to a new report by Reports and Data. A rise in demand for smart buildings with better connectivity and efficient management systems to reduce utility costs and enhance the security and access system of the buildings such as residential building, shopping malls, etc. have created an escalating demand for Building Automation & Control Systems (BACS) across the globe.  

Initiatives taken by Governments to build smart building is further pushing the growth of Building Automation & Control Systems (BACS) market. On July, 2107, Public Services and Procurement Canada (PSPC) in an announcement said that they would be deploying the Smart Buildings initiative in around 100 buildings across Canada through a phased tactic over the subsequent three years.

The announcement is the result of the success of pilot project that comprised 13 buildings in the National Capital Region of Ottawa-Gatineau. The Smart Buildings technology that was deployed resulted in energy savings of up to 17 per cent, which interprets into $1 million per year.

Requirement of high cost in the implementation of Building Automation & Control Systems (BACS) may create hindrances in the growth of the market.

The market in Asia Pacific region is projected to grow at the highest CAGR of 7.9% in the forecast period. Proliferation of IoT technology in the region along with a rise in the level of disposable income coupled with the various government initiatives and funding to build smart cities and smart buildings are the main reasons driving the growth of the market in this region.

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The Key Companies Profiled in the Market are:

Siemens AG, Johnson Controls International PLC, Honeywell International Inc., Schneider Electric SE, Robert Bosch GmBH, Legrand SA, United Technologies Corporation, ABB Ltd., Hubble Inc. and LutronElectronics Co. Inc.

Further key findings from the report suggest

Energy management systems would hold the largest market share and witness the growth rate of CAGR 7.7% during the forecast period as unnecessary wastage of energy is being translated into increased expenses on energy which would be optimally managed with the implementation of Building Automation & Control Systems (BACS). Also, governments all over the world are putting in consistent efforts to find alternative ways to generate energy as in present situation energy is being generated from natural resources that would soon be depleted.

Wireless technology for establishing communication in Building Automation & Control Systems (BACS) in connected buildings is estimated to experience the highest growth rate of CAGR 7.85% during the forecast period. The use of wireless communication technology enhances the efficiency of automation and control systems by enabling ease of operation and control of the system.

The region of North America would contribute to the largest market share growing with a CAGR 7.8% during the forecast period. A rise in renovation as compared to new construction of buildings in US is responsible for the demand of automation and control system in the buildings. With rise in pollution, the need to have clean and purified air is also driving the market growth.

A rise in investment in HVAC systems to reduce energy consumption in existing buildings will further boost the market growth.

Siemens AG, a key company in the market offers Desigo, an advanced building automation and control system, for converting traditional buildings into smart buildings.

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For the purpose of this report, Reports and Data have segmented global Building Automation & Control Systems (BACS) Market on the basis of product, communication technology, application and region:

Product Outlook (Revenue, USD Billion; 2018-2026)

Electronic Security & Safety
Access Control
Energy Management System
Fire & Line Safety
Heating, Ventilation & Air-Conditioning
Others

Communication Technology Outlook (Revenue, USD Billion; 2018-2026)

Wired
Wireless

Application Outlook (Revenue, USD Billion; 2018-2026)

Government
Hospital
Commercial
Industrial
Institutional
Retail
IT/ITES
Residential

Regional Outlook (Revenue, USD Billion; 2018-2026)

North America
Europe
Asia Pacific
Latin America
MEA

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Table of contents           

Chapter 1. Market Synopsis

    1.1. Market Definition

    1.2. Research Scope & Premise

    1.3. Methodology

    1.4. Market Estimation Technique

Chapter 2. Executive Summary

    2.1. Summary Snapshot, 2016-2026

Chapter 3. Indicative Metrics

    3.1. Macro Indicators

         3.1.1. Global deployment of Building Automation & Control Systems (BACS)

         3.1.2. Global Building Automation & Control Systems (BACS) by product type

         3.1.3. Region-wise deployment of Building Automation & Control Systems (BACS) by application

Chapter 4. Building Automation & Control Systems (BACS) Market Segmentation & Impact Analysis

    4.1. Building Automation & Control Systems (BACS) Segmentation Analysis

    4.2. Industrial Outlook

    4.3. Regulatory Framework

    4.4. Building Automation & Control Systems (BACS) Market Impact Analysis

         4.4.1. Market driver analysis

                 4.4.1.1. Surge in Demand for Energy-Efficient Systems in various Buildings

                 4.4.1.2. Implementation of IoT in Building Automation and Control System

                 4.4.1.3. Rising Demand for Smart Buildings

                 4.4.1.4. Mounting Demand for automating the Security Systems in Buildings

         4.4.2. Market restraint analysis

                 4.4.2.1. Cost-Intensive deployment of Building Automation & Control Systems (BACS)

         4.4.3. Key opportunities prioritized

                 4.4.3.1. Encouraging Government Funding & Initiatives

…………………

Chapter 9. Competitive Landscape

    9.1. Market Revenue Share by Manufacturers

    9.2. Manufacturing Cost Breakdown Analysis

    9.3. Mergers & Acquisitions

    9.4. Market positioning

    9.5. Strategy Benchmarking

    9.6. Vendor Landscape

Chapter 10. Company Profiles

    10.1. Siemens AG

           10.1.1. Company Overview

           10.1.2. Financial Performance

           10.1.3. Type Insights

           10.1.4. Strategic Initiatives

    10.2. Johnson Controls International PLC

           10.2.1. Company Overview

           10.2.2. Financial Performance

           10.2.3. Type Insights

           10.2.4. Strategic Initiatives

    10.3. Honeywell International Inc.

           10.3.1. Company Overview

           10.3.2. Financial Performance

           10.3.3. Type Insights

           10.3.4. Strategic Initiatives

    10.4. Schneider Electric SE

           10.4.1. Company Overview

           10.4.2. Financial Performance

           10.4.3. Type Insights

           10.4.4. Strategic Initiatives

Continued…….

About Reports and Data                              

Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help client's make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.