Building Automation Revenue to Reach $102 Billion in 2025
Vendors are introducing new versions of their core offerings as well as complementary solutions
BOULDER, Colo. — The commercial building automation system (BAS) market is at a crossroads, notes Navigant Research. Large technology companies that have provided equipment and services for the control and automation of building systems are benefitting from the moderate but consistent growth of a mature market, while technology innovation, new business models, and emerging competitors threaten to upset the sustained revenue growth tied to the industry. According to a new report from the research firm, global commercial building automation product and services revenue is expected to grow from $67.1 billion in 2016 to $102 billion in 2025.
“BAS hardware infrastructure and communications networks improve the operations of complex commercial systems,” said Casey Talon, principal research analyst with Navigant Research. “The rise in intelligent building software and services, and open communications protocols represents a source of disruption to the traditional BAS market, creating a new competitive reality.”
Major BAS vendors recognize this market evolution and are introducing new versions of their core BAS offerings, as well as complementary intelligent building solutions, according to the report. The result is an increasingly dynamic landscape of diverse offerings during a time when many customers are looking to comply with building codes, save on utility costs, and meet sustainability objectives.
The report analyzes the global BAS market in five key technology segments: HVAC; lighting; fire and life safety; security and access controls; and building management systems. The study provides an analysis of market issues, including drivers and barriers.
An executive summary of the report is available here.
Publication date: 10/17/2016