Report ID: SQMIG45F2126
Report ID:
SQMIG45F2126 |
Region:
Global |
Published Date: February, 2024
Pages:
251
|
Tables:
92 |
Figures:
76
Intelligent Building Automation Technologies Market size was valued at USD 83.82 Billion in 2023 and is poised to grow from USD 89.86 Billion in 2024 to USD 159.72 Billion by 2032, growing at a CAGR of 7.2% during the forecast period (2025-2032).
The intelligent building automation technology has gained a huge momentum due to increasing urbanization, and need for sustainable living. As the urban landscapes are expanding, it has resulted into a huge consumption of resources with creating more demands for energy resources. To address the unmet demands of urbanization, automation technologies have surfaced up to address energy distribution challenges and create a pathway for sustainability. Other reasons such as rising energy prices, increased concerns about global warming, and expanding public awareness for energy saving, it is contributing to developing more robust solutions.
The market for intelligent building automation technologies (IBAT) will be further driven by increase in consumer awareness of environmental protection. Technically, building automation systems (BAS) combine lighting, energy, safety, and security systems into a single, user-friendly system that balances energy consumption better efficiency. Additionally, intelligent building automation solutions offer resistance to a certain level against natural calamities such as earthquakes, tremors, and fire. When these solutions are deployed, the severity of financial losses can be reduced with optimizing rescue operations for human lives under these circumstances.
Intelligent building automation technologies are being rapidly adopted by businesses because of their many applications, including regulating lighting, controlling air conditioning and heat ventilation, and analysing building data. Organizations are primarily concentrating on ways to reduce energy use by turning on and off lights, HVAC systems, and other devices.
US Intelligent Building Automation Technologies Market is poised to grow at a sustainable CAGR for the next forecast year.
Our industry expert will work with you to provide you with customized data in a short amount of time.
REQUEST FREE CUSTOMIZATIONIntelligent Building Automation Technologies Market size was valued at USD 78.17 billion in 2019 and is poised to grow from USD 83.82 billion in 2023 to USD 148.99 billion by 2031, growing at a CAGR of 7.2% in the forecast period (2024-2031).
Want to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.
Report ID: SQMIG45F2126