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Building Automation and Control Systems Market to grow by USD 31.12 Billion from 2024-2028, driven by energy efficiency demand and AI-powered market evolution – Technavio

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NEW YORK, Dec. 6, 2024 /PRNewswire/ — Report on how AI is driving market transformation – The global building automation and control systems market size is estimated to grow by USD 31.12 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 8.71% during the forecast period. Demand for energy efficiency is driving market growth, with a trend towards increase in use of personnel assistant in residential buildings. However, high installation cost poses a challenge. Key market players include ABB Ltd., Bajaj Electricals Ltd., BuildingLogiX, Emerson Electric Co., Evon Technologies Pvt. Ltd., FORESCOUT, Honeywell International Inc., IoEnergy Inc., Itron Inc., Johnson Controls International Plc., KMC Controls Inc., Legrand, Lutron Electronics Co. Inc., Mode Green Integrated Building Technology, OptergyA, PointGrab Inc., Robert Bosch GmbH, Rockwell Automation Inc., Schneider Electric SE, and Siemens AG.

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Building Automation And Control Systems Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 8.71%

Market growth 2024-2028

USD 31119.3 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

7.82

Regional analysis

Europe, North America, APAC, Middle East and Africa, and South America

Performing market contribution

North America at 30%

Key countries

US, UK, China, Germany, and Canada

Key companies profiled

ABB Ltd., Bajaj Electricals Ltd., BuildingLogiX, Emerson Electric Co., Evon Technologies Pvt. Ltd., FORESCOUT, Honeywell International Inc., IoEnergy Inc., Itron Inc., Johnson Controls International Plc., KMC Controls Inc., Legrand, Lutron Electronics Co. Inc., Mode Green Integrated Building Technology, OptergyA, PointGrab Inc., Robert Bosch GmbH, Rockwell Automation Inc., Schneider Electric SE, and Siemens AG

Market Driver

The Building Automation and Control Systems (BACS) market in the residential sector is experiencing significant growth due to the increasing trend of transforming homes into smart residences. Amazon’s Alexa and Google Home are leading the way with their personnel assistant devices, enabling users to connect and control various smart home appliances via the internet and voice commands. These devices function as controllers for lighting systems and thermostats, while also offering additional features such as setting alarms and taking notes. The market is projected to expand at a Compound Annual Growth Rate (CAGR) of 11.61% during the forecast period, driven by the popularity of smart homes. 

The Building Automation and Control Systems market is thriving, driven by the increasing use of sensors, detectors, relays, and smart electronics in office buildings, shopping centers, public transportation hubs, airports, and train stations. Core competencies include HVAC Control, Lighting Control, and Security Access Control. Material types and industry verticals, such as Residential, Hospitality, and Energy consumption, are key factors. Technology growth is fueled by integrated systems, real estate assets, semiconductor chips, and construction sector. Remote monitoring, energy efficiency, interconnected systems, and international energy agency are shaping the future of this industry. Smart appliances, urbanization, energy management systems, and monitoring are also trends to watch. The market is expected to grow significantly due to the need for cost savings and energy efficiency. 

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 Market Challenges

The Building Automation and Control Systems Market growth may be impeded due to the high cost of installation and the variability of solutions. End-users often hesitate to invest in these systems due to the lengthy recovery period. This economic constraint could impact vendors’ revenue during the forecast period. Despite these challenges, the market continues to offer significant benefits, such as energy efficiency and improved operational control, making it an attractive investment for businesses seeking to optimize their facilities.Building Automation and Control Systems Market: Overcoming Challenges for Smarter, Safer, and Sustainable Buildings The Building Automation and Control Systems (BACS) market is growing rapidly due to the increasing demand for energy-efficient, comfortable, and secure buildings. However, the market faces several challenges that need to be addressed for continued growth. Cyberattacks and malware attacks pose significant risks to BACS, threatening data security and system reliability. Sanitization systems and security protocols are essential to mitigate these risks. Operations in HVAC and energy systems require seamless integration of hardware and software, including electronic devices, lighting, and safety systems. In the residential, commercial, and industrial segments, facility management is crucial to ensure building sustainability and meet carbon-neutral goals. Supply chain disruptions and manufacturing company challenges can impact the availability of hardware and software components. Real-time monitoring and condition-based maintenance are essential to minimize downtime and ensure optimal performance. 5G technology offers opportunities for faster and more reliable communication between devices, enabling energy-efficient buildings, de-carbonization, and building sustainability. Safety systems, including safety alarms and access management, are essential for ensuring occupant safety and health. The commercial industry’s focus on energy-efficient building design and green building concepts presents significant business opportunities for BACS providers. The BACS market’s challenges include addressing cybersecurity risks, integrating hardware and software components, ensuring supply chain reliability, and providing cost-effective solutions for maintenance, repair, and construction activities. Technology innovation and collaboration between stakeholders are key to overcoming these challenges and driving market growth.

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Segment Overview 

This building automation and control systems market report extensively covers market segmentation by

End-user 1.1 Commercial buildings1.2 Residential buildings1.3 Government buildings1.4 Other buildingsType 2.1 Integration2.2 ServicesGeography 3.1 Europe3.2 North America3.3 APAC3.4 Middle East and Africa3.5 South America

1.1 Commercial buildings- 

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Research Analysis

The Building Automation and Control Systems (BACS) market is experiencing significant growth due to the increasing focus on energy efficiency and sustainability in both commercial and residential buildings. With the rising energy consumption and operating costs, integrated systems that manage HVAC, lighting, safety, and security are becoming essential for real estate assets. The market is driven by the adoption of electronic devices and software, as well as the integration of hardware components such as sensors and actuators. Technology advancements, including 5G technology and energy-efficient buildings, are key factors fueling market growth. Core competencies of BACS include HVAC Control, Lighting Control, and Security Access Control. Material types and industry verticals, such as residential and hospitality, are also important considerations. Safety systems, air conditioning, and lighting are critical components of BACS, with energy efficiency and building sustainability being key priorities. De-carbonization is also a significant trend, as the industry seeks to reduce greenhouse gas emissions and promote a more sustainable future. Overall, the BACS market is poised for continued growth as the demand for energy-efficient and intelligent building solutions increases.

Market Research Overview

Building Automation and Control Systems (BACS) market is witnessing significant growth due to the increasing focus on energy consumption and operating costs reduction in various industry verticals. Technology growth in integrated systems, real estate assets, and urbanization is driving the demand for energy efficiency and interconnected systems. The International Energy Agency reports that energy consumption in buildings accounts for nearly 40% of global energy usage. Semiconductor chips and smart appliances are integral components of BACS, enabling remote monitoring and energy management systems. The construction sector is adopting BACS for safety systems, HVAC systems, and lighting control in energy-efficient buildings. The commercial and industrial segments are investing in BACS for facility management, access management, and condition-based maintenance of electrical appliances. The green building concept and carbon-neutral goals are further boosting the market growth. However, cyberattacks and malware attacks pose a significant threat to the operations of BACS. The manufacturing companies are focusing on real-time monitoring, 5G technology, and supply chain disruptions to mitigate risks and seize business opportunities. The market offers significant potential for growth in various construction activities, including office buildings, shopping centers, public transportation hubs, airports, and train stations. The core competencies of BACS include HVAC Control, Lighting Control, and Security Access Control. The material type and industry vertical, such as Residential, Hospitality, and others, also influence the market dynamics. Safety, comfort, and security are the primary concerns for building automation and control systems in various industry verticals.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

End-userCommercial BuildingsResidential BuildingsGovernment BuildingsOther BuildingsTypeIntegrationServicesGeographyEuropeNorth AmericaAPACMiddle East And AfricaSouth America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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Singapore-based interactive video streaming provider launches in Vietnam to provide interactive media solutions for brands

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BeLive Technology announces exciting new partnership with DigiLive to make interactive and shoppable content the way of the future for consumers and brands

SINGAPORE, Dec. 12, 2024 /PRNewswire/ — Leading interactive live commerce and shoppable short video provider BeLive Technology has, today, announced a new collaboration with DigiLive, an experienced technology and media player in Vietnam. This latest collaboration aims to connect both the retail and content worlds, to help increase sales and engagement for some of the biggest brands across the globe. BeLive Technology is a well-known provider of interactive live streaming solutions in Southeast Asia. Co-founded in 2016 by Kenneth Tan, the company targets brands who want to integrate interactive live streaming and shoppable videos into their websites and apps to engage with customers.

For this partnership, DigiLive will be focusing to usher in a new era of e-commerce in Vietnam through providing curated content, engagement and unparalleled entertainment. It will see them elevate the entire online shopping experiences, from a mere transaction to a must-attend online entertaining affair, bringing an end to the days of passive shopping.

Shoppable video content has transformed consumer behaviour through making product searches more alluring than ever before. It has meant that consumers can not only read product descriptions but view them in action, add to a cart and purchase in minutes. Shoppable live streams are set to elevate the buying process, by providing consumers with the ability to ask celebrities questions about the products and receive answers in real-time. They are seen to provide the most immersive and connected experience between brands and consumers to date.

The BeLive and DigiLive partnership is set to increase engagement, transform experiences, boost sales and enhance brand loyalty for retailers who continue to feel the effects of competitive pricing. According to a survey, 63% of consumers in Vietnam actively check for prices and priorities value before purchasing goods or services. In addition, 69% of Vietnamese consumers seek information, including through videos to find out about product information before making a purchase.

Vietnam’s rapidly growing digital economy, fueled by increasing internet penetration and mobile adoption, provides fertile ground for advanced e-commerce solutions. BeLive and DigiLive’s collaboration introduces a suite of products and services designed to meet the unique demands of Vietnamese businesses and consumers. From live-stream shopping and real-time audience interaction to AI-powered content moderation and performance analytics, these offerings aim to redefine the e-commerce experience.

Commenting on this latest partnership, Kenneth Tan, CEO of BeLive Technology, said:

Vietnam is an exciting market with immense potential. The team is committed to helping businesses in Vietnam harness the power of Artificial Intelligence (AI), interactive live and video solutions to build deeper connections with their customers and drive tangible results.”

Speaking about this collaboration, Ms. Chi Tran, founder of DigiLive added:

“We’re thrilled to join forces with BeLive to bring a new dimension to interactive marketing and commerce in Vietnam. By combining with BeLive’s cutting-edge streaming technology, we’re set to create an unparalleled shopping experience that is as entertaining as it is effective. This partnership marks a significant step forward in how we connect brands with consumers, making shopping more interactive, engaging, and accessible. We’re excited about the potential this collaboration holds to redefine the e-commerce landscape in Vietnam and beyond.”

– ENDS –
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About BeLive Technology

BeLive Technology is the leading provider of live commerce and shoppable short video solutions in Southeast Asia. BeLive Technology’s platform employs advanced artificial intelligence and machine learning developed specifically for live video analysis, live commerce, shoppable short videos, and interactive live streaming. Live streams powered by BeLive Technology have reached more than 100 million viewers worldwide, amounting to more than 50 million hours of content. The company is IMDA SG Digital (SG:D) Accredited. To learn more, please visit https://belive.technology/

About DigiLive

At DigiLive, we embrace the dynamic nature of Gen Y and Z, crafting strategies that resonate with their unique preferences and habits. Our innovative approach combines data-driven insights, creative storytelling, and the latest marketing technologies to help brands forge meaningful connections with their target audience. We specialize in providing cutting-edge digital marketing solutions designed to empower businesses of all sizes to proactively engage with customers and stay ahead of emerging trends. Whether you’re looking to enhance your online presence, boost customer engagement, or create impactful campaigns, DigiLive is here to guide your journey in the digital era.

To learn more, please visit: https://digilive.com.vn/

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SOURCE BeLive Technology

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JA Solar’s DeepBlue 4.0 Pro Wins “Very Good” Rating from PV Magazine Module Test

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BEIJING, Dec. 12, 2024 /CNW/ — JA Solar, a global leader in the PV industry, has recently earned an outstanding five-star “VERY GOOD” rating for its DeepBlue 4.0 Pro 2465mm*1134mm (72-cell) module in the latest “PV Magazine Module Test.” This test, conducted in collaboration with CEA and its parent company Intertek, highlighted the module’s exceptional performance across a variety of assessments.

Notably, among all the bifacial TOPCon modules tested, the DeepBlue 4.0 Pro 2465mm*1134mm (72-cell) model was the first to undergo the UVID (Ultraviolet-Induced Degradation) test, highlighting JA Solar’s unshakeable confidence in the overall reliability of its products.

The PV Magazine Module Test, conducted jointly by Germany’s PV Magazine Group and CEA, along with its parent company Intertek, evaluates modules across several criteria, including visual inspection, EL image inspection, low irradiance levels, temperature coefficients, and PID (Potential-Induced Degradation) performance. With its rigorous evaluation system and diverse range of tests, the PV Magazine Module Test is highly regarded in both Asia and Europe, offering significant authority within the industry.

The DeepBlue 4.0 Pro module from JA Solar passed through a stringent testing process and stood out with high scores across all categories, ultimately earning the prestigious five-star rating, which reflects the strength of its n-type technology.

As JA Solar’s flagship n-type product, the DeepBlue 4.0 Pro 72-cell module offers a power output of up to 650W and an efficiency of 23.3%. It also boasts lower degradation, improved temperature coefficients, higher bifacial gains, and better weak light performance. This product is already widely used globally and has gained an excellent market reputation.

Moving forward, JA Solar will continue to leverage its technological advantages, invest in research and development, and focus on customer value and high reliability to contribute to the high-quality development of the global PV industry.

About JA Solar

JA Solar is a manufacturer of high-performance PV products. With multiple manufacturing bases and 13 sales subsidiaries around the world, the company’s business covers silicon wafers, cells, modules and PV power plants. With its continuous technological innovation, sound financial performance, and well-established global sales and service networks, JA Solar has been listed on Fortune China 500 and Global Top 500 New Energy Enterprises for several consecutive years.

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SOURCE JA Solar Technology Co., Ltd.

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Building Regenerative Foodscapes in Northwest India Outlines Key Strategies for Punjab’s Agrarian Ecosystem in a workshop by The Nature Conservancy

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CHANDIGARH, India, Dec. 12, 2024 /PRNewswire/ — Nature Conservancy India Solutions (NCIS) conducted a two-day workshop in Chandigarh on ‘Transitioning Towards Regenerative Foodscapes in Northwest India‘ on December 4th and 5th, as part of its PRANA (Promoting Regenerative and No-Burn Agriculture) project. Chief Guest Mr. Ajit Balaji Joshi, Secretary, Department of Agriculture and Farmer Welfare, Government of Punjab, accompanied by Professor Adarsh Pal Vig, Chairman, Punjab Pollution Control Board, Mr. Shoikat Roy, Member Punjab Development Commission and the Managing Director of Nature Conservancy India Solutions, Dr. Anjali Acharya kicked off the two day event, which saw over eighty agriculture experts across policy, science and practice.

Mr. Ajit Balaji Joshi, Secretary, Department of Agriculture and Farmer Welfare, Government of Punjab as stated, “PRANA’s work in Punjab connects to the concept of ‘Pran’ which relates to oxygen. We are keen to increase agro-forestry and green cover in Punjab and it would be great to see such initiatives scale up. The good news is that crop residue burning count this year was more than 70% down as compared with last year, so there can be a lot of room for innovation in Punjab to improve farmer incomes and address environmental concerns. We need to work on maximizing farmer incomes through crop diversification and water savings. There can be ways of combining carbon credits with water credits and green credits and translate this into farmer incomes.”

Professor Adarsh Pal Vig, Chairman, Punjab Pollution Control Board shared hopeful evidence from Punjab’s crop residue management initiatives. “Ex-situ management of crop residue has doubled in Punjab since last year and the increase in industrial boilers (to 44 operational boilers with additional 31 boilers being installed) has significantly increased ex-situ management. Yet In-situ is the most natural way of managing crop residue and I call those farmers who have already been practising regenerative agriculture Nanak de Heere”.

Dr. Anjali Acharya, Managing Director, NCIS highlighted the need for collaborative efforts to support initiatives promoting economic viability, and offer alternatives to farmers in achieving long term environmental sustainability. She stated, “PRANA has been focused very much on crop residue management, but we are expanding into a regenerative foodscapes approach as we believe this is critically important. This workshop provides a strong technical background to enable this discussion. It covers crop residue management, crop diversification, the Energy-Water-Food Nexus, how to bring the private sector in, how to bring about cross regional learning, and exploring different types of financing options but at the end of the day we are trying to support this ecosystems in four ways, Innovation, Institutional Supporting, Partnerships and Financing, which will be key to scaling up the transition to regenerative foodscapes that is required in Punjab. So we’re happy to bring the knowledge and information and expertise and evidence base from our different pilots in Punjab to support the Punjab government to meet its goals.”

Two policy briefs were launched at the workshop—Charting a Course for Effective Crop Residue Management in Punjab- Key Learnings from TNC’s PRANA Project and Punjab’s Energy-Water-Food Nexus: Exploration of Drivers and Practical Ways Out. These briefs provide evidence with clear recommendations to support sustainable agriculture transition in Punjab. The workshop felicitated regenerative farmers from various districts across Punjab, giving them a platform to share their experience with participants.

Mr. Shoikat Roy, Member, Punjab Development Commission stated, “The nexus of  energy-water-agriculture-environment in Punjab and its interrelated crises of paddy over-production, stubble burning, and groundwater depletion is well understood. However, there are also solutions to such issues, some of which the Punjab Development Commission is spearheading. One solution to the groundwater/power problem is decentralized solarization coupled with replacement of existing pumps with energy efficient pumps and net billing to incentivize the farmer to save water/power. In this manner, the farmer continues to get free power while earning additional income and reducing water consumption and the state’s subsidy bill as well. PDC has also recommended a strong continued focus on cost-efficient ex-situ solutions such as CBG and industrial boilers along with incentivizing in-situ management for stubble burning. Lastly, maize-to-ethanol holds huge promise for paddy diversification in the coming years. This will require the active facilitation by Govt. of Punjab, a strong supportive role of Govt. of India independent of politics, and also cooperation and partnership of the wide variety of research and civil society stakeholders here – so that we can further scale up this work together.”

The sessions highlighted the interdependence of water, energy, and food production which demands a closer and structured approach to optimising the benefits for farmers while managing the available resources effectively. The participants discussed strengthening canal networks and water saving initiatives like Alternative Wetting and Drying (AWD) that save 30% water use for irrigation along with 48% reduction in methane emissions without affecting the yields, according to International Rice Research Institution (IRRI).

Ensuring that the private sector also plays a key role in scaling regenerative agriculture,  market-driven solutions such as carbon credits and the need for investments and policy reforms to encourage farmers toward regenerative practices were also discussed.

Addressing the interconnected agricultural challenges in Punjab to help farmers adapt to shifting climatic conditions requires Sustainable management of paddy residue, crop diversification, solarization, agro forestry and innovative financial mechanisms to build farmer incentives. Regenerative Foodscapes can be built through partnerships with projects such as PRANA which provide ground based evidence for enabling climate resilience in Punjab. PRANA has been working with an evidence-based approach working closely with its implementation partners who include Reviving Green Revolution Cell, Manav Vikas Sansthan (MVS), KPMG, Vertiver, and FarmSio. Expert discussions at the workshop have underscored the urgency of aligning policy, innovation and financial support to create an enabling environment that sets Punjab on the path to climate resilience and demonstrates solutions that can be scaled up across Northwest India.

About

TNC’s PRANA project has engaged over 80,000 farmers across 6,200 villages in Punjab since 2021 for promoting Crop Residue Management (CRM) and regenerative agricultural practices. The Nature Conservancy (TNC) plans to adopt a regenerative Foodscape Approach. This approach will integrate regenerative farming, the Water-Energy-Food (WEF) Nexus, and community involvement to address Punjab’s agricultural and environmental challenges.

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