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 t.