Industrial Automation Magazine India

Building Automation Software Market size to grow by USD 25.46 billion from 2022 to 2027

Published on : Friday 20-10-2023

Growth driven by the growing need for building automation to enhance business outcomes – Technavio.

New York, October 19, 2023 – The "building automation software market by product (BMS software and standalone building automation software), end-user (commercial, industrial, and others), and geography (APAC, Europe, North America, South America, and Middle East and Africa) – Forecast and Analysis 2023-2027" report has been added to Technavio's offering. With ISO 9001:2015 certification, Technavio has proudly partnered with more than 100 Fortune 500 companies for over 16 years. The potential growth difference for the building automation software market from 2022 to 2027 is USD 25.46 billion. Get deeper insights into the market size, current market scenario, future growth opportunities, major growth driving factors, the latest trends, and much more.

The growing need for building automation to enhance business outcomes is a key factor driving market growth. There are several advantages to developing automation software. This software allows industrial, residential, and commercial buildings to manage, control, and operate building operations more easily and efficiently. Learn about additional key drivers, trends, and challenges available with Technavio.

The vulnerability and cybersecurity threat are significant challenges restricting market growth. Building automation software is much more difficult to implement than conventional building systems, such as lighting, safety, and security. As a building's infrastructure increases, correctly integrating the software that performs different functions becomes a challenge. If this integration is not completed, the software can be exposed to a variety of physical and cyber threats.

The market share growth by the BMS software segment will be significant during the forecast period. BMS software systems account for the majority of the overall building automation software market share, as BMS software provides comprehensive building automation solutions, along with powerful analytics tools. In retail and office buildings, BMS software is widely used. Similarly, it is becoming increasingly necessary to use automated control of facilities in order to achieve effective energy management in production units.