The global intelligent building automation technologies market is expected to dramatically grow to a whopping USD 152.4 billion (AUD 233.57 billion) by 2028, a leading management consultant firm has revealed in their latest report.
According to the report by MarketsandMarkets, this market segment, which achieved USD 90.2 billion (AUD 138.24 billion) in 2023, will register an impressive growth, propelled by key drivers including rapid technology breakthroughs, focus on sustainability and energy efficiency, user-centric design, and autonomous buildings.
The dynamic competition among technology providers fosters a continuous push for advancements, driving the evolution of more sophisticated and cost-effective solutions. Companies will strive to outpace each other in introducing cutting-edge 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, the report reveals.
Security & access control system segment leads the market
The dynamic expansion of the security and access systems market in intelligent building automation is powered by ongoing innovations in access control technologies. Advancements, such as smart card systems, biometric recognition, and mobile access solutions, 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 solutions contribute to user convenience, allowing smartphones to function as digital keys.
By end use, the industrial segment will grow faster
The role of intelligent building automation technologies in enhancing worker safety is a paramount factor driving their growth in the industrial segment. These technologies incorporate a range of features designed to mitigate risks and create safer working conditions within industrial environments.
Automated emergency response systems enable swift and coordinated reactions to potential hazards or incidents, minimising response times and ensuring the wellbeing 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 limit unauthorised access to hazardous areas, ensuring that only qualified personnel enter specific zones. By integrating these safety-enhancing features, intelligent building automation technologies not only mitigate risks associated with industrial operations but also address regulatory compliance requirements.
Asia Pacific expected to hold a higher growth rate
Large-scale infrastructure development projects in the Asia Pacific region, encompassing airports, transportation hubs, and commercial complexes, serve as fertile grounds for the integration and growth of intelligent building automation technologies. These ambitious projects present unique opportunities to implement cutting-edge automation systems right from the project's inception. Inclusion of intelligent solutions, such as advanced HVAC controls, energy-efficient lighting, and smart security systems, not only showcases the latest technological advancements but also exemplifies a commitment to sustainability.
Intelligent building automation technologies market advantages
- Features such as occupancy sensors, HVAC control, and smart lighting help intelligent building automation solutions optimise energy usage and reduce expenditure.
- Automation of building functions such as lighting, security, heating, and cooling help increase overall efficiency while reducing operating and maintenance expenses.
- By maintaining ideal conditions, automation of environmental controls guarantees occupant comfort and boosts building occupant satisfaction and productivity.
- Intelligent automation allows building systems to be remotely monitored and managed, facilitating preventative maintenance, troubleshooting, and real-time modifications for peak performance.
- Use of data analytics and machine learning to deliver actionable insights into building performance, occupancy patterns, energy consumption, and equipment health, enables informed decision-making.
- Intelligent building automation solutions support environmental sustainability goals by lowering energy usage and carbon footprint.
Download the report here.