Demand grows as organizations aim to reduce
their energy consumption and carbon footprint
BOULDER, Colo.,
July 23,
2024 /PRNewswire/ -- A new report
from Guidehouse Insights examines the commercial building
automation controls market, globally.
By automating technologies such as HVAC, lighting, fire and life
safety, and security and access controls, building owners and
facility managers have realized they can achieve benefits such as
more efficient energy consumption, increased response times to
emergencies, and a healthier occupant environment. According to a
new report from Guidehouse Insights, revenue attributed to
commercial building automation controls is expected to increase
from $32.9 billion in 2024 to
$50.9 billion in 2033 at a compound
annual growth rate (CAGR) of 5.0%.
"The demand for commercial building automation controls has been
growing over the past decade as organizations aim to reduce their
energy consumption and carbon footprint," says David Gonzalez, research analyst with Guidehouse
Insights. "The latest advances in building technologies have
facilitated the ability to connect and manage all building systems
through a single interface that enables real-time communication and
automates responses to changes in the building environment."
The transition by organizations worldwide toward smart,
integrated systems has accelerated in recent years due to factors
such as energy price volatility, sustainability stakeholder
pressures, legislative obligations, and the need to optimize space
utilization. In addition, commercial building automation technology
vendors have been able to develop smart systems paired with open
communications protocols that can seamlessly integrate into
third-party building management systems and allow for easier and
faster deployment of automated technologies. The combination of
increased customer demand with more easily integrated technologies
has resulted in a growing market size for commercial building
automation controls, according to the report.
The report, Commercial Building Automation Controls,
provides a comprehensive analysis of the commercial building
automation controls market, covering the trends, drivers, and
barriers that have shaped its evolution in recent years.
Additionally, it presents a 10-year analysis, offering insights
into the future trajectory of the market across five global regions
(North America, Europe, Asia
Pacific, Latin America,
Middle East & Africa), four technology segments (HVAC
controls, lighting controls, fire and life safety controls,
security and access controls), and eight commercial building types
(office, retail, education, healthcare, hotels and restaurants,
institutional/assembly, warehouse, transport). An executive summary
of the report is available for free download on the Guidehouse
Insights website.
About Guidehouse Insights
Guidehouse Insights, the
dedicated market intelligence arm of Guidehouse, provides research,
data, and benchmarking services for today's rapidly changing and
highly regulated industries. Our insights are built on in-depth
analysis of global clean technology markets. The team's research
methodology combines supply-side industry analysis, end-user
primary research, and demand assessment, paired with a deep
examination of technology trends, to provide a comprehensive view
of emerging resilient infrastructure systems. Additional
information about Guidehouse Insights can be found at
www.guidehouseinsights.com.
About Guidehouse
Guidehouse is a leading global
provider of consulting services to the public sector and commercial
markets, with broad capabilities in management, technology, and
risk consulting. By combining our public and private sector
expertise, we help clients address their most complex challenges
and navigate significant regulatory pressures focusing on
transformational change, business resiliency, and technology-driven
innovation. Across a range of advisory, consulting, outsourcing,
and digital services, we create scalable, innovative solutions that
help our clients outwit complexity and position them for future
growth and success. The company has more than 16,000 professionals
in over 55 locations globally. Guidehouse is led by seasoned
professionals with proven and diverse expertise in traditional and
emerging technologies, markets, and agenda-setting issues driving
national and global economies. For more information, please visit
www.guidehouse.com.
* The information contained in this press release concerning
the report, Commercial Building Automation
Controls, is a summary and reflects the current
expectations of Guidehouse Insights based on market data and trend
analysis. Market predictions and expectations are inherently
uncertain and actual results may differ materially from those
contained in this press release or the report. Please refer to the
full report for a complete understanding of the assumptions
underlying the report's conclusions and the methodologies used to
create the report. Neither Guidehouse Insights nor Guidehouse
undertakes any obligation to update any of the information
contained in this press release or the report.
For more information, contact:
Cecile Fradkin for Guidehouse
Insights
+1.646.941.9139
cfradkin@scprgroup.com
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SOURCE Guidehouse Insights