Saudi Arabia Building Automation System Market Revenue is projected to grow at a CAGR of 7.6% during 2024E-2030

Wired Communication Technology sector by Hardware Communication Technology held the highest revenue share of Saudi Arabia Building Automation System Market -6Wresearch

In 2023, wired communication technology led in revenue due to its stability and reliability, being less prone to interference from electronic devices, weather, or obstacles. Moreover, its higher speeds and bandwidth make it popular in the commercial sector, and with new commercial projects on the horizon, demand for wired automation systems is expected to grow further in coming years.

According to 6Wresearch, Saudi Arabia Building Automation System Market Revenue is projected to grow at a CAGR of 7.6% during 2024E-2030.  As Saudi Arabia continues to diversify its economy, the commercial real estate sector, particularly office and retail spaces, is expected to experience significant growth in both size and investment. By 2026, the total office stock in Riyadh is projected to reach approximately 6.9 million square meters. Dammam is also witnessing an increase in quality office stock, expected to reach 1.55 million square meters by 2026.

The existing retail supply in Riyadh stands at 3.6 million sqm, with an additional 100,000 sqm anticipated by the end of 2024. Additionally, due to ongoing developments in shopping malls and lifestyle spaces, total retail space is projected to increase by 28% to 4.6 million sqm by 2026 across Saudi Arabia.

According to Sumit, Senior Research Analyst, 6Wresearch, the commercial offices and buildings sector held the largest revenue share in Saudi Arabia's BAS market. This is attributed to Saudi Arabia's efforts to diversify its economy away from oil dependence, leading to substantial investments in commercial real estate to stimulate business growth. Additionally, the Program HQ is driving demand for office space in Riyadh by encouraging multinational companies to set up their regional headquarters in the Kingdom.

Saudi Arabia Building Automation System Market (2024-2030) report provides an in-depth analysis with 16 figures and 9 tables, covered in 74 pages. The report thoroughly covers market by types, hardware communication technology and application. Saudi Arabia Building Automation System Market outlook report provides an unbiased and detailed analysis of the on-going Saudi Arabia Building Automation System Market trends, opportunities/high growth areas and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.