Latest News by Industry
DUBLIN--(BUSINESS WIRE)--Dec 1, 2022--
The "Building Automation System Market By Component, By Application, By Offerings: Global Opportunity Analysis and Industry Forecast, 2021-2030" report has been added to ResearchAndMarkets.com's offering.
The global building automation system market is envisioned to garner $194,864.1 million by 2030, growing from $75,757.0 million in 2021 at a CAGR of 10.0% from 2022 to 2030.
A build automation system, also known as a building management system, is the automatic centralized control of a building's Heating, Ventilation and Air Conditioning (HVAC) The main purpose of building automation systems is to reduce energy consumption, improve occupants' comfort and productivity, reducing maintenance costs and extending the life cycle of the utilities. BAS will adjust the building's temperature in accordance with the need of its occupants or if it determines through its sensors that better air quality is required.
Building automation system market growth is anticipated to be significantly fueled by rising demand for smart buildings over the forecasted period. A building automation system will deliver lower operating and maintenance costs, greater energy efficiency, better indoor air quality, productivity, and greater occupant comfort.
The initial expense of installing a building automation system and the lengthy cost recovery times are significant barriers to BAS solution adoption. The initial installation cost is high because of that they are not affordable for small-scale structures and stores. Additionally, compatibility between software, hardware, networking devices, databases, and other components is required during implementation, which is a resource-intensive and complex procedure.
Building automation systems are increasingly being adopted in the hospitality industry, particularly by businesses aiming to set themselves apart from rivals and concentrating on developing higher-end, world-class lodging.
The hospitality industry is facing critical challenges with rising energy expenditures, and several vendors are now offering wireless technology to address these issues. Although BAS adoption in the hospitality industry is still in its infancy, it is anticipated to gain ground as public awareness grows and legislation is introduced by the relevant governments.
KEY BENEFITS FOR STAKEHOLDERS
Key Market Segments
By Application
By Offerings
By Component
By Region
Key Market Players
Key Findings of the Study
Key Topics Covered:
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: BUILDING AUTOMATION SYSTEM MARKET, BY COMPONENT
CHAPTER 5: BUILDING AUTOMATION SYSTEM MARKET, BY APPLICATION
CHAPTER 6: BUILDING AUTOMATION SYSTEM MARKET, BY OFFERINGS
CHAPTER 7: BUILDING AUTOMATION SYSTEM MARKET, BY REGION
CHAPTER 8: COMPANY LANDSCAPE
CHAPTER 9: COMPANY PROFILES
For more information about this report visit https://www.researchandmarkets.com/r/o65s9t
View source version on businesswire.com:https://www.businesswire.com/news/home/20221201005708/en/
CONTACT: ResearchAndMarkets.com
Laura Wood, Senior Press Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./ CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
KEYWORD:
INDUSTRY KEYWORD: OTHER CONSTRUCTION & PROPERTY CONSTRUCTION & PROPERTY OTHER MANUFACTURING MANUFACTURING
SOURCE: Research and Markets
Copyright Business Wire 2022.
PUB: 12/01/2022 08:29 AM/DISC: 12/01/2022 08:29 AM
http://www.businesswire.com/news/home/20221201005708/en