Smart building automation to top $150bn by 2028

  • February 12, 2024
  • Steve Rogerson
Intelligent building automation technologies market to 2028 in $bn.

The intelligent building automation technologies market is expected to reach $152.4bn by 2028 from $90.2bn in 2023, at a CAGR of 11%, according to Markets & Markets.

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 report says the dynamic competition among technology providers fosters a continuous push for advancements, driving the evolution of more sophisticated and cost-effective technology.

In this competitive environment, companies strive to outpace each other in introducing 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 catalyse continuous improvement, ensuring the sector remains at the forefront of technological advancements while fostering sustained market growth.

Some of the prominent players are Honeywell, Johnson Controls, Siemens, Schneider Electric, ABB, Eaton, Trane Technologies and Carrier Global.

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, 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 organisations.

Smart card systems streamline entry with efficiency; biometric recognition adds a precision layer for authorised access; and mobile access technology contributes 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, says the report, fostering widespread adoption of intelligent building automation technologies and fuelling the overall growth of the security and access systems market.

The role of intelligent building automation technologies in enhancing worker safety is a factor driving growth in the industrial segment. These technologies incorporate 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, reducing 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 unauthorised access to hazardous areas, ensuring only qualified personnel enter specific zones. By integrating these safety-enhancing features, intelligent building automation not only mitigates risks associated with industrial operations but also address regulatory compliance. 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.

Large-scale infrastructure development projects in the Asia Pacific, encompassing airports, transportation hubs and commercial complexes, serve as fertile grounds for the integration and growth of intelligent building automation. These projects, often emblematic of economic development and urbanisation, present opportunities to implement automation right from the project’s inception. Inclusions of intelligent products, such as HVAC controls, energy-efficient lighting and smart security, 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 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 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.

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