Building Automation & Control Systems (BACS) Market Growth, Drivers, and Opportunities
The Brainy Insights launched a study titled Building Automation & Control Systems (BACS) Market by Type (Lighting Management, Environmental Control and Building Management Software), Communication Technology (Wired, Wireless), Application, Regions,and Global Forecast 2021-2028.
The global building automation & control systems (BACS) market is anticipatedto grow from USD 59.96 billion in 2020 to USD 168.93 billion by 2028, at a CAGR of 12.72% during the forecast period 2021-2028.The increase in construction activities, rising energy consumption and energy-related regulation, along with an increasing emphasis on sustainability, have been primary contributors to the growth of the global business automation and control systems (BACS) market.
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The building management software (BMS) segmentis expected to grow at the highest CAGR of around 14.2% over the forecast period
The type segment is divided intolighting management, environmental control and building management software.The building management software (BMS) segment is expected to grow at the highest CAGR of around 14.2% over the forecast period. It is because it is a computer-based control system installed in buildings that manages and tracks automatic and electrical equipment like freshening, ventilation, power systems, fire systems, and protection systems of the building.
The wireless communication technology segment is anticipated to grow at the highest CAGR during the forecast time period.
Thecommunication technology segment includes wired and wireless communication technology. The wireless communication technology segment is anticipated to grow at the highest CAGR over the forecast periodas the usage of wireless communication technologies increases the efficiency of the automation and control systems by facilitating system operation and control.
The commercial segment held the largest market value of around USD 15.68 billion in 2020
The application segmentincludes IT/ITEs, residential, commercial, hospitality, industrial, retail and hospital. The commercial segment held the largest market value of around USD 15.68 billion in 2020.It is due to the increased deployment of building automation and control systems in large shopping centres, commercial buildings, and public transport sites, such as airports and railway stations, driving the expansion of the industrial applications market for BACS.
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Regional Segmentation Analysis:
The regions evaluated for the building automation & control systems (BACS) market include Europe, North America, Asia Pacific, South America, and Middle East and Africa.The Asia Pacific region is anticipated to grow at a considerable growth rate in the global building automation & control systems (BACS) market during the forecast time period with many consumers opting for smart office systems owing to the rise of emerging companies of developing countries like China and India.
Competitive Analysis:
Major players in the global building automation & control systems (BACS) market are Automated Logic, Bosch Sicherheitssysteme GmbH, CONTROL4, Beckhoff Automation, Delta Controls, Dwyer, Distech Controls, Emerson Electric, Evon Technologies, Honeywell, Itron and Johnson Controls International among others.
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