The growing need for HVAC control, energy-efficient lighting control, and a higher standard of living will likely fuel the growth of the global building automation and controls market, according to a report by Straits Research. The automatic central control for lighting, security, and access control systems, as well as heating, ventilation, and air conditioning systems, is known as building automation and controls. The sensors, detectors, relays, and other intelligent electronics used by the building automation and controls system provide access to a central computing system that allows it to function. They are employed in various business sectors, including retail, hospitality, residential, and industrial.
The most widely used items in the home, enterprise, and commercial sectors are lighting controls, commercial sectors, and security and access control systems. Security and access control systems have become integral to several industrial verticals as security concerns have increased across all industries. The rising demand for HVAC management, energy-efficient lighting control, and a better quality of life is anticipated to boost the global market for building automation systems.
- The global building automation and controls market was worth $130 billion in 2021. It is projected to reach $340 billion by 2030, growing at a compound annual growth rate of 11.3 percent during the forecast period, 2022–2030.
- The HVAC Control segment is the highest contributor to the market and is estimated to grow at a compound annual growth rate of 10.2 percent during the forecast period.
- The Industrial segment is the highest contributor to the market and is estimated to grow at a compound annual growth rate of 11.9 percent during the forecast period.