The global building automation and control system market is expected to grow from $96.35bn in 2024 to $165bn in 2029 at a CAGR of 11.36%.

The market is then expected to see a CAGR of 10.73% from 2029 and reach $274.7bn in 2034, according to Research & Markets.

The market reached a value of nearly $96.35bn in 2024, having seen a CAGR of 6.41% since 2019.

Growth in the historic period resulted from the rise in disposable income, increasing energy cost and consumption, increase in demand for green buildings, rising number of commercial infrastructure, surge in retrofitting existing buildings, and aging infrastructure. Factors that negatively affected growth in the historic period was cyber-security risks.

Going forward, increasing urbanisation, expansion of smart city initiatives, growing investments in energy efficiency, increasing investments in premium residential complexes, rising awareness about indoor air quality and growing supportive government policies will drive the growth. Factors that could hinder the growth in the future include supply chain disruptions.

The market is fairly fragmented, with a large number of players. In 2023, Johnson Controls was the largest with a 6.98% share, followed by Honeywell with 2.77%, Siemens 2.67%, ABB 2.34%, Bosch 2.29%, Delta Controls 1.19%, Schneider Electric 0.86%, Legrand 0.74%, General Electric 0.69% and Mitsubishi Electric 0.61%.

North America was the largest region in the building automation and control system market, accounting for 37.86% or $36.5bn total in 2024. It was followed by Asia Pacific, western Europe and other regions. Going forward, the fastest-growing regions will be Asia Pacific and North America, which will see CAGRs of 11.97% and 11.44%, respectively. These will be followed by Middle East and Western Europe where the markets are expected to see CAGRs of 11.31% and 10.97%, respectively.

The market is segmented by technology into wired and wireless. The wired market was the largest segment, accounting for 62.95% or $60.7bn of the total in 2024. Going forward, the wireless segment is expected to be the fastest growing, at a CAGR of 13.81% from 2024 to 2029.

The commercial market was the largest segment by end-user, accounting for 58.16% or $56bn of the 2024 total. Going forward, the residential segment is expected to be the fastest growing at a CAGR of 11.82% from 2024 to 2029.

Market-trends include advancements in smart home technology for convenience, partnerships in smart building evolution, manufacturing efficiency with digital factories, centralised systems for better indoor air quality, control platforms for optimised building operations, innovations in building automation and control systems for smart infrastructure, and advancements in building automation by enhancing energy efficiency and sustainability.

For more on the report, see www.researchandmarkets.com/reports/6090055/building-automation-control-system-market.