Global Building Management System Market By Software (Facility Management, Security Management, Energy Management, Emergency Management, Infrastructure Management), Service Type (Professional Services, Managed Services), Application (Residential, Commercial, Industrial), Component (Hardware, Software), Geography (North America, South America, Europe, Asia-Pacific, Middle East & Africa) - Industry Trends and Forecast to 2026
Market Analysis: Global Building Management System Market
Global building management system market is expected to register a healthy CAGR of 17.10% in the forecast period of 2019-2026. The report contains data from the base year of 2018 and the historic year of 2017. The rise in the market value can be attributed to surging preference for energy-efficient and eco-friendly buildings and cost benefits to commercial, residential, and industrial users.
Market Definition: Global Building Management System Market
Building Management Systems (BMS) are software-based building control systems that track and control the building's mechanical and electrical devices including fire system, security system, lighting, power system, and ventilation. Management systems for building are composed of software and hardware. The tendency of these systems is surging preference for eco-friendly, energy efficient, and demand for automation for security system in buildings.
- Surging preference for eco-friendly and energy-efficient buildings, is driving the market growth
- Cost benefits to commercial, residential, and industrial users, is helping the market to grow
- Reduction in building maintenance and operation, is flourishing the market growth
- Surging IOT in building automation system, drives the market growth
- Lack of skilled professionals, hinders the market growth
- High initial and installation costs, hampers the market growth
Segmentation: Global Building Management System Market
- Facility Management
- Lighting Control
- HVAC Control
- Security Management
- Video Surveillance
- Access Control
- Energy Management
- Emergency Management
- Infrastructure Management
By Service Type
- Professional Services
- Managed Services
- Office Buildings
- Retail and Public Buildings
- Educational Institutes
- Hospitals and Healthcare Facilities
- Airports and Railways
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Middle East & Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
- Rest of Middle East & Africa
Key Developments in the Market
- In May 2018, Honeywell International Inc. had launched IQ Vision. It is a building energy management system which enables the building owners to optimize and manage the usage of energy. It has integrated various tools on a platform such as smart devices, internet protocols and trend controllers. This launch will enable the building owners to effectively control the building system.
- In November 2017, Johnson Controls had launched BCPro which is an advanced Building Automation System designed for commercial buildings. The tools enable the easy and fast setup which helps in the reduction of configuration time. BCPro provides vivid function such as illumination, customization and editing for the easy access for viewing of data. The launch had improved system software and controllers communication processes to ensure the reliability and stability.
Global building management system market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of building management system market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Major Market Competitors/Players
Few of the major competitors currently working in the global building management system market are Honeywell International Inc, Johnson Controls, Schneider Electric, Siemens, United Technologies, ABB, Azbil Corporation, Delta Controls, LARSEN & TOUBRO LIMITED, Mitsubishi Electric Corporation, Robert Bosch GmbH, Singapore Technologies Engineering Ltd, DEXMA SENSORS, S.L., Eagle Technology, Legrand, Lutron Electronics Co., Inc, Technovator International Limited, Airedale Air Conditioning, BuildingIQ, ACUITY BRANDS LIGHTING, INC, GridPoint among others.
Research Methodology: Global Building Management System Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key market players involved in this industry
- Detailed analysis of the market segmentation
- Competitive analysis of the key players involved