Global Commercial Building Automation Market

Commercial Building Automation Market Size, Share, Growth Analysis, By Product(HVAC, Building Management Systems, Security and Access Control Systems, Energy Management Systems), By Entreprise Size(Small, Medium and Large), By Communication Technology(Wired and wireless technology), By Region - Industry Forecast 2024-2031

Report ID: SQMIG20C2062 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 89 | Figures: 76

Commercial Building Automation Market News

  • In September 2023, Johnson Controls, the global authority for smart, health-conscious, and environmentally friendly buildings launched its latest service, OpenBlue Service. Ensuring Security Device Performance, designed to help customers improve building security, reduce risk, and maximize value for their security technology investments Includes Johnson Controls' OpenBlue suite of integrated solutions, the ability to monitor security devices from manufacturers internally managed and maintained, remote support services, valuable insights from experienced engineers, and cybersecurity protection system combined with no guarantees to make it a comprehensive together offering.

     

  • In May 2023, Carrier announced i-Vu Pro v8.5, the latest version of software designed for i-Vu architectures. This software introduces an efficient staged download method for controller firmware upgrades, improving customers’ serviceability. Unlike traditional extraction systems that disrupt HVSC equipment performance throughout the process, the new staged method breaks the extraction process into stages, reducing downtime for HVAC equipment which is included in it.

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FAQs

Commercial Building Automation Market size was valued at USD 83.46 billion in 2022 and is poised to grow from USD 91.88 billion in 2023 to USD 198.40 billion by 2031, growing at a CAGR of 10.1% in the forecast period (2024-2031).

A wide and varied array of companies offering a wide range of products and services makes up the competitive landscape of the commercial building automation market. In order to meet the evolving needs of the commercial real estate sector, these firms are continuously working to innovate and provide comprehensive solutions. They are captured in intense competition in areas such as lighting controls, smart HVAC systems, energy management solutions, and security and access control. To expand market reach and enhance the range of product offerings, many players in the market employ partnerships and collaborations as common strategies. 'Honeywell International (US)', 'Trane Technologies (US)', 'Hubbell (US)', 'Schneider Electric (France)', 'Legrand (France)', 'Mitsubishi Electric (Japan)', 'Lutron Electronics (US)', 'Crestron Electronics (US)', 'Beckhoff Automation (Germany)', 'Osram (Germany)', 'Siemens AG (Germany)', 'ABB (Switzerland)', 'Robert Bosch (Germany)', 'Johnson Controls (US)', 'Carrier (US)', 'Eaton Corporation (US)', 'Ingersoll Rand (Ireland)', 'Delta Controls (Canada)', 'Sauter AG (Switzerland)', 'Danfoss (Denmark)'

firms and companies worldwide are now heavily committed to reducing their operating costs and carbon footprint. Through features like smart lighting, HVAC control, and energy management, building automation systems offer an effective solution to optimize energy consumption. The adoption of these technologies has been largely affected by incentives and regulations that promote eco-friendly practices and energy savings. The demand for commercial building automation continues to rise as a result of environmentally conscious goals becoming more prominent across industries, making it a major driver of market growth.

Smart Building Integration: The increasing focus on smart building integration is one of the traditionally dominant trends that mold the commercial building automation market. For the smooth integration of various automation systems such as HVAC, lighting, security, and energy management, building owners and operators are seeking in-depth solutions. The need for improved energy efficiency, data-driven decision-making, and centralized control drives this trend. The creation of truly interconnected and intelligent commercial spaces is being greatly helped by Internet of Things (IoT) technologies, cloud computing, and data analytics, offering enhanced operational efficiency and occupant comfort.

The commercial building automation market has been traditionally dominated by North America for several reasons, such as its high level of awareness regarding the importance of energy efficiency and sustainability, early adoption of advanced technologies, and a dynamic commercial real estate sector. With a mature market and a significant number of commercial buildings equipped with automation systems, the United States, in particular, has been a major driver of market growth in the region. Canada’s focus on the innovation of cutting-edge building automation solutions also largely contributes to the North American market,

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Global Commercial Building Automation Market

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