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.
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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
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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
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