Intelligent Building Automation Technologies Market

The global intelligent building automation technologies market size is anticipated to register a considerable CAGR during the forecast period, 2021-2028. The growth of the market is attributed to the growing responsiveness about energy conservation, rising concerns over global warming, and increasing energy costs.

Get Free Sample Report

The intelligent building automation technologies (IBAT) is the central control of the building’s, heating, air conditioning, ventilation, security system, lighting, access control, and other incorporated systems. IBAT also detects major or minor defects about building and alerts about it. IBAT helps in digitalization of building by implanting conventional systems and devices with internet of things technology based solutions to enable remote interaction for delivering real-time data about building to operators and owners. IBAT uses information technology to connect with other subsystems, which typically operate individually, and collect information from these subsystems for optimizing building performance.

The COVID-19 pandemic outbreak had hampered the market. During pandemic, real estate sector witness significant loss, which impacted the demand of IBAT. Due to lockdown and social distancing norms imposed by government body construction projects of smart building is delayed or declined which further decreased the demand of IBAT.

Market Trends, Drivers, Restraints, and Opportunities

• Rising awareness for security and life safety among the people across the globe is one of the key factor driving the market growth.
• Increasing establishments of smart infrastructure globally is projected to drive the market expansion during the forecast period.
• Escalating cost of initial investment acts as a major challenge that can restrict the market growth in the coming years.
• Lack of awareness about IBAT among the population can hamper the market growth during the projected timeline.
• Using internet protocol communication system in IBAT is projected to create significant growth opportunities for the market.

Scope of the Report

The report on the global intelligent building automation technologies market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Market Segment Insights

Reduced maintenance by IBAT increases the commercial segment market share

On the basis of applications, the market is divided into industrial, residential, and commercial. The commercial segment is estimated to account for a significant market share during the forecast period attributed to rising necessity to improve commercial building efficiency and strict guidelines regarding energy consumption. Additionally, on large commercial sites, including seaports, shopping malls, industrial zones, office parks, and airports, IBAT helps in reducing the maintenance and cost of energy is major driver of the segment. On the other hand, the residential segment is anticipated to grow at a high CAGR during the projected period due to the rise in the number of thefts and burglaries, which created a concern about security among the house owners across the globe.

Get Free Sample Report

Hardware and software segment is projected to expand at considerable CAGR

In terms of components, the global intelligent building automation technologies market is segregated into service, hardware, and software. The hardware and software segment is estimated to expand at robust growth rate during the forecast period owing to interconnectivity of IBAT with various hardware and software. Moreover, hardware such as sensors, controllers, and actuators are connected to IBAT software and connectively maintain the environment of building, which presents a major factor driving the segment. However, the service segment is projected to expand at a considerable CAGR during the forecast period due to implementation of smart building services helps in in reduced energy usage and operational expenses along with enhanced performance.

Get Free Sample Report

Less damage to property drive the security systems segment

Based on products, the market is segmented into facility management systems, security systems, building energy management software (BEMS), and life safety systems. The security systems segment is expected to grow at a rapid pace during the forecast period attributed to preventing loss, reducing risks and less damage to property. On the other hand, the BEMS segment is anticipated to expand at a substantial CAGR in the coming years owing to easy detection of power issues and reduced energy consumption. Furthermore, BEMS helps in reduction of carbon emission, which is projected to accelerate the segment growth further.

Europe is anticipated to constitute a key market share

In terms of region, the global intelligent building automation technologies market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Europe is anticipated to constitute a key share of the market during the projected period owing to implementation of IBAT by home owners and growing demand for smart grid services and energy-efficient products in the region. However, the Asia Pacific market is anticipated to grow at a rapid pace during the forecast period due to the boost in investment by government for smart cities and increasing implementation of IBAT by emerging economies in the region.

Segments

The global intelligent building automation technologies market has been segmented on the basis of

Applications

• Industrial
• Residential
• Commercial

Components

• Service
• Hardware
• Software

Products

• Facility Management Systems
• Security Systems
• Building Energy Management Software
• Life Safety Systems

Regions

• Asia Pacific
• North America
• Latin America
• Europe
• Middle East & Africa

Key Players

• Azbil Corp.
• General Electric
• Siemens Building Technologies Inc.
• Honeywell International Inc.
• Rockwell Automation Inc.
• Johnson Control
• United Technologies Corp.
• ABB Ltd.
• Eaton Corp.
• Ingersoll Rand plc.
• Schneider Electric
• Hubbell Inc.

Competitive Landscape

Key players competing in the global intelligent building automation technologies market are Azbil Corporation; General Electric; Siemens Building Technologies Inc.; Honeywell International Inc.; Rockwell Automation Inc.; Johnson Control; United Technologies Corp.; ABB Ltd.; Eaton Corp.; Ingersoll Rand plc.; Schneider Electric; and Hubbell Inc.

Companies are focusing on investment in R&D for development of technological advanced IBAT for the buildings. Furthermore, companies are widely engaging in strategic partnership, merger & acquisition, agreements, new product launch, and collaborations to boost their market share and acquiring new buyers. For instance, in April 2019 Johnson Controls signed an agreement with Bee’ah U.A.E based company and Microsoft Corp. This agreement was for enhancement of Bee’ah’s new headquarters in Sharjah. This agreement was aimed to build headquarters with intelligent devices, edge systems, and software in collaboration with Johnson Controls and Microsoft Corp.

In November 2019, Eaton Corp. announced a launch of Scantronic grade 2 and 3 panels. This panels was developed for smart security control of building. Both the panels were also compatible with SecureConnect, an advanced smart security management system for residential and commercial buildings.