Report Description
A recent market
intelligence report that is published by Data Insights Partner on the
global Building Management System Market makes an offering of in-depth analysis of segments and
sub-segments in the regional and international Building
Management System Market. The research
also emphasizes on the impact of restraints, drivers, and macro indicators on
the regional and global Building Management System Market over the short as well as long period of time. A detailed
presentation of forecast, trends, and dollar values of global Building
Management System Market is offered. In
accordance with the report, the global Building Management System Market is projected to expand by healthy CAGR over the period of forecast.
Market Insight, Drivers, Restraint,
Opportunity & Trends of the Market:
Definition
A Building Management System (BMS) is a computer-based
system fitted in a building that monitors and controls the building's
electrical and mechanical equipment. It can also be called an Automation System
(AS) and Building Automation and Control Systems (BACS). BMS depends upon the
controlling and monitoring of temperature, carbon dioxide, and humidity inside
the building. BMS is firstly designed to operate and handle the following
business, such as lighting control, electrical distribution panels, air
conditioning systems, elevators, UPS, water utilization, CCTV system
monitoring, fire alarm & fire fighting, parking access, and intrusion
detection, and elevators.
Market Drivers
The
development of the building management systems is driven by several factors
such as operational efficiency, supportability, growing demand for energy, and
government regulations to encourage the building management system to improve
efficiency. The BMS system can profitably manage BMS operations, such as a
lighting system, water distribution, and many others, with the help of
automated software, which, in turn, help in developing reliability, reduce
carbon emission, increase equipment life, conserve water, increase
productivity, and finally enhance resident comfort. Eventually, this will
contribute to increasing the demand for building management systems in the
market.
q Notable
cost benefits to industrial, domestics, and residential customer
q Simplified
building performance and maintenance
q Boosting
demand for energy-systematic and eco-friendly buildings
q The
improving integration of IoT.
Market Restraints
However,
there are some restraining factors that will negatively impact the market
growth of building management systems that include high-performance costs and a
lack of technically skilled workers. The lack of awareness with regard to the
positive influence of such goods and lack of knowledge and information
regarding the availability of these products in different regions is disrupting
the growth of this market.
Opportunities
In
recent years, there has been tremendous growth in demand for security systems
in the building. With the help of building management systems, customers can
install the security monitoring devices such as CCTV cameras and biometric
systems. These automated systems will eliminate any security break that may
happen due to some human mistake. Additionally, to boost the use of building
management systems, governments have made regulations to make sure the safety
of the residents. All these features will help the way for a surge in demand
and will create building management systems market opportunities.
Trends
At
present Europe holds a significant share in the Building Management System
Market accounting. This region is expected to showcase significant growth in
the forecast period owing to the initiatives provided by the Registration,
Evaluation, Authorization, and Restriction of Chemicals (REACH) and European
Commission aimed at promoting Building Management System. The North American
region is estimated to experience progress due to surging construction of
residential and non-residential buildings, adherence to rigid green building
codes aimed at energy conservation, and supportive measures of the government
for adoption of these products in the buildings. The Asia Pacific region is
projected to be the fastest growing region for Building Management System
Market. Such growth can be traced back to the skyrocketing construction
activities to satiate the needs of surging population. Globally, this market is
expected to grow at a CAGR of 14.48%.
Segment Covered:
This market
intelligence report on the global Building Management System Market encompasses market segments based on building type,
material type, application and country.
By Service
Type the global Building Management System Market has been divided into:
q Professional
Services
q Managed
Services
By Application the global Building
Management System Market has been divided into:
q Residential
q Commercial
q Industrial
By country/region,
the global Building Management System Market has been divided into:
q North
America (the U.S., Canada),
q Latin
America (Brazil, Mexico, Argentina and other countries),
q Europe
(Germany, France, the U.K., Spain, Italy, Russia, and other countries),
q Asia
Pacific (India, Japan, China, Australia and New Zealand and other countries),
q Middle
East and Africa (GCC, South Africa, Israel and Other countries).
Profiling of Market
Players:
This business
intelligence report offers profiling of reputed companies that are operating in
the market. Companies such as:
q Honeywell
International Inc.
q Siemens
AG
q Johnson
Controls International PLC
q Schneider
Electric SE
q United
Technologies Corp.
q IBM
Corporation
q Ingersoll-Rand
Plc
q Delta
Controls
others have been
profiled into detail so as to offer a glimpse of the market leaders. Moreover,
parameters such as Building Management System Market related investment & spending and developments by
major players of the market are tracked in this global report.
Report Highlights:
In-depth
analysis of the micro and macro indicators, market trends, and forecasts of
demand is offered by this business intelligence report. Furthermore, the report
offers a vivid picture of the factors that are steering and restraining the
growth of this market across all geographical segments. In addition to that, IGR-Growth
Matrix analysis is also provided in the report so as to share insight of the
investment areas that new or existing market players can take into consideration.
Various analytical tools such as DRO analysis, Porter's five forces analysis
has been used in this report to present a clear picture of the market. The
study focuses on the present market trends and provides market forecast from
the year 2020-2028. Emerging trends that would shape the market demand in the
years to come have been highlighted in this report. A competitive analysis in
each of the geographical segments gives an insight into market share of the
global players.
Few Recent Developments
Honeywell International Inc.
In August 2021,
Honeywell expanded the next phase of a modernization project with Fort Benning,
to improve energy resilience and create a more comfortable living and working
environment for Fort Benning soldiers, employees and tenants.
Siemens AG
September 2021,
University of Birmingham partners with Siemens to create the smartest
university campus in the world
Salient Features:
Ø
This study offers
comprehensive yet detailed analysis of the Building
Management System Market, size of the
market (11 billion), and Compound Annual Growth Rate (CAGR (14.48%)) for the
period of forecast: 2020-2028, taking into account 2020 as the base year
Ø
It explains upcoming
revenue opportunities across various market segments and attractive matrix of
investment proposition for the said market
Ø
This market
intelligence report also offers pivotal insights about various market opportunities,
restraints, drivers, competitive market strategies of leading market players,
emerging market trends, and regional outlook
Ø
Profiling of
key market players in the world Building Management System Market is done by
taking into account various parameters such as company strategies, distribution
strategies, product portfolio, financial performance, key developments,
geographical presence, and company overview
Ø
The data of
this report would allow management authorities and marketers of companies alike
to take informed decision when it comes to launch of Type of models, government
initiatives, marketing tactics and expansion, and technical up gradation
Ø
The world
market for Building Management System caters to the needs of various stakeholders pertaining to this
industry, namely suppliers, manufacturers, investors, and distributors for Building
Management System Market. The research
also caters to the rising needs of consulting and research firms, financial
analysts, and new market entrants
Ø
Research
methodologies that have been adopted for the purpose of this study have been
clearly elaborated so as to facilitate better understanding of the reports
Ø
Reports have
been made based on the guidelines as mandated by General Data Protection
Regulation
Ø
Ample number
of examples and case studies have been taken into consideration before coming
to a conclusion
Reasons to buy:
v
Identify
opportunities and plan strategies by having a strong understanding of the investment
opportunities in the Building Management System Market
v
Identification
of key factors driving investment opportunities in the Building
Management System Market
v
Facilitate
decision-making based on strong historic and forecast data
v
Position
yourself to gain the maximum advantage of the industry’s growth potential
v
Develop
strategies based on the latest regulatory events
v
Identify key
partners and business development avenues
v
Respond to
your competitors’ business structure, strategy and prospects
v
Identify key
strengths and weaknesses of important market participants