Intelligent Building Automation Technologies Market worth $152.4 billion by 2028 – Exclusive Report by MarketsandMarkets™

CHICAGO, Jan. 31, 2024 /PRNewswire/ — Rapid technology breakthroughs, a greater emphasis on sustainability and energy efficiency, a move towards user-centric design, and autonomous buildings are what will drive the Intelligent Building Automation Technologies Market in the future. Important developments include cybersecurity precautions, data-driven decision-making, and market expansion driven by laws and regulations as well as urbanisation.

The Intelligent Building Automation Technologies Market is expected to reach USD 152.4 billion by 2028 from USD 90.2 billion in 2023, at a Compound Annual Growth Rate (CAGR) of 11.0% during 2023–2028, according to a new report by MarketsandMarkets™.

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344 – Tables
52 – Figures
333 – Pages

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Scope of the Report

 

The competitive landscape and the existence of a robust vendor ecosystem play a pivotal role in propelling innovation and development within the intelligent building automation market. The dynamic competition among technology providers fosters a continuous push for advancements, driving the evolution of more sophisticated and cost-effective solutions. In this competitive environment, companies strive to outpace each other in introducing cutting-edge features, improving system interoperability, and enhancing overall performance. The race to meet and exceed market demands encourages rapidly integrating emerging technologies into intelligent building systems, such as artificial intelligence, IoT, and data analytics. As vendors vie for market share, customers benefit from a diverse array of options, leading to an accelerated pace of innovation and a broader range of choices. The competitive forces within the intelligent building automation market catalyze continuous improvement, ensuring that the sector remains at the forefront of technological advancements while fostering sustained market growth.

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Based on solution, the security & access control system segment to hold the largest market size during the forecast period.

The dynamic expansion of the security and access systems market in intelligent building automation is propelled by ongoing innovations in access control technologies. Advancements, such as smart card systems, biometric recognition, and mobile access solutions, introduce secure and user-friendly methods for building access management. These continuous breakthroughs not only elevate security measures through multi-layered authentication but also align with the evolving preferences of modern organizations. Smart card systems streamline entry with efficiency; biometric recognition adds a precision layer for authorized access, and mobile access solutions contribute to user convenience, allowing smartphones to function as digital keys. This convergence of heightened security and enhanced convenience caters to the contemporary demands of workplaces, fostering widespread adoption of intelligent building automation technologies and fueling the overall growth of the security and access systems market.

By end use, the industrial segment is expected to hold a higher growth rate during the forecast period.

The role of intelligent building automation technologies in enhancing worker safety is a paramount factor driving their growth in the industrial segment. These technologies incorporate a range of features designed to mitigate risks and create safer working conditions within industrial environments. Automated emergency response systems, integral to intelligent building automation, enable swift and coordinated reactions to potential hazards or incidents, minimizing response times and ensuring the well-being of workers. Intelligent surveillance systems contribute to enhanced safety by providing real-time monitoring of the industrial facility, enabling the proactive identification of potential safety issues. Access controls, another key feature, limit unauthorized access to hazardous areas, ensuring that only qualified personnel enter specific zones. By integrating these safety-enhancing features, intelligent building automation technologies not only mitigate risks associated with industrial operations but also address regulatory compliance requirements. The focus on creating safer work environments aligns with industry priorities and regulations, making the adoption of intelligent building automation technologies a fundamental driver for growth in the industrial segment.

Asia Pacific is expected to hold a higher growth rate during the forecast period.

Large-scale infrastructure development projects in the Asia Pacific region, encompassing airports, transportation hubs, and commercial complexes, serve as fertile grounds for the integration and growth of intelligent building automation technologies. These ambitious projects, often emblematic of economic development and urbanization, present unique opportunities to implement cutting-edge automation systems right from the project’s inception. Inclusions of intelligent solutions, such as advanced HVAC controls, energy-efficient lighting, and smart security systems, not only showcase the latest technological advancements but also exemplify a commitment to sustainability. These projects act as showcases for innovative and environmentally conscious building practices, setting benchmarks for future developments in the region. The integration of intelligent building technologies in these large-scale initiatives not only enhances operational efficiency and occupant experience but also reinforces the region’s position at the forefront of technological innovation and smart urban development. As Asia Pacific continues to witness substantial investments in infrastructure, the momentum for adopting intelligent building automation technologies is poised to accelerate, driving the region towards more sustainable and technologically advanced built environments.

Top Key Companies in Intelligent Building Automation Technologies Market:

The major vendors covered in the Intelligent Building Automation Technologies Market are Honeywell International Inc. (US), Johnson Controls International plc (US), Siemens AG (Germany), Schneider Electric SE (France), ABB Ltd. (Switzerland), Eaton Corporation (US), Trane Technologies plc (Ireland), Carrier Global Corporation (US), Rockwell Automation, Inc. (US), Azbil Corporation (Japan), Ingersoll Rand (US), Emerson Electric co. (US), Robert Bosch GmbH (Germany), Hubbell Incorporated (US), Lutron Electronics Company (US), Cisco Systems, Inc. (US), Cushman & Wakefield plc (US), Jones Lang LaSalle Incorporated (US), CBRE Group, Inc. (US), Current Lighting Solutions, LLC (US), Verdigris Technologies, Inc. (US), 75F (US), BuildingIQ (US), KMC Controls (US), Spaceti (Netherlands), eFACiLiTY (India), Softdel (US). These players have adopted various growth strategies, such as partnerships, agreements and collaborations, new product launches, enhancements, and acquisitions to expand their footprint in the Intelligent Building Automation Technologies Market.

Recent Developments

In January 2023, Cisco Hong Kong and Neuron Digital Group forged a strategic partnership to expedite the development of smart buildings and properties in Hong Kong.In November 2022, Siemens AG and Qualcomm collaborated on smart infrastructure to work on building automation by applying a 5G private network based on the Snapdragon X55 Modem-RF System in the Americas.In July 2021, IDEMIA partnered with Bosch Building Technologies to tap the USD 1bn biometric access control market.In October 2020, Honeywell International Inc. and Vertiv, a digital infrastructure solutions company, collaborated to develop integrated solutions aimed at optimizing data center sustainability, resiliency, and operational performance.

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Intelligent Building Automation Technologies Market Advantages:

Through features like occupancy sensors, HVAC control, and smart lighting, intelligent building automation solutions optimise energy usage and save expenditures.Through automation of building functions like lighting, security, heating, and cooling, these technologies increase overall efficiency while reducing operating and maintenance expenses.By maintaining ideal conditions, automation of environmental controls guarantees occupant comfort and boosts building occupant satisfaction and productivity.With intelligent automation, building systems can be remotely monitored and managed, facilitating preventative maintenance, troubleshooting, and real-time modifications for peak performance.Informed decision-making and ongoing optimisation are made possible by these technologies, which use data analytics and machine learning to deliver actionable insights into building performance, occupancy patterns, energy consumption, and equipment health.Intelligent building automation solutions support environmental sustainability goals by lowering energy usage and carbon footprint, which is in line with green building programmes and legal requirements.Automating features like parking control, smart lifts, and room reservation systems improves the rental experience for tenants, drawing and keeping them while raising the property’s worth.

Report Objectives

To determine, segment, and forecast the Intelligent Building Automation Technologies Market by offering, technology, end use, and region in terms of valueTo forecast the size of the market segments with respect to 5 main regions: North America, Europe, Asia Pacific, Middle East & Africa, and Latin AmericaTo provide detailed information about the major factors (drivers, restraints, opportunities, and challenges) influencing the growth of the marketTo study the complete value chain and related industry segments and perform a value chain analysis of the market landscapeTo strategically analyze the macro and micro-markets with respect to individual growth trends, prospects, and contributions to the total marketTo analyze the industry trends, pricing data, patents, and innovations related to the marketTo analyze the opportunities for stakeholders by identifying the high-growth segments of the marketTo profile the key players in the market and comprehensively analyze their market share/ranking and core competenciesTo track and analyze competitive developments, such as mergers & acquisitions, product launches & developments, partnerships, agreements, collaborations, business expansions, and R&D activities

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