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), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028.
Building management system market size is valued at USD 38.76 billion by 2028 is expected to grow at a compound annual growth rate of 15.03% in the forecast period of 2021 to 2028. Data Bridge Market Research report on building management system provides analysis and insights regarding the various factors expected to be prevalent throughout the forecasted period while providing their impacts on the market’s growth.
Building Management Systems (BMS) are the type of a software-based building control systems that track and control the building's mechanical and electrical devices counting fire system, security system, power system, lighting and ventilation. Management systems for building are composed of software and hardware.
The surging preference for eco-friendly and energy-efficient buildings and the simplified building operation and maintenance is expected to influence the growth of building management system market over the forecast period of 2021 to 2028. Also the surging IOT in building automation system are also anticipated to flourish the growth of the building management system market. Moreover, the cost benefits to commercial, residential, and industrial users and reduction in building maintenance and operation, are also expected create a huge demand for speaker driver as well as lifting the growth of the building management system market.
However, the dearth of skilled professionals, is expected to act as the major limitation for the growth of building management system in the above mentioned forecasted period, whereas the high initial and installation costs and the complication associated with the implementation of building management system can challenge the building management system market growth in the forecast period of 2021 to 2028.
Likewise, the rise in adoption of increasing demand for energy, operational efficiency and sustainability, and presence of government regulations to promote BMS adoption across organization to optimize the energy efficiency are expected to create various new opportunities that will lead to the growth of the building management system market in the above mentioned forecasted period.
This building management system market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on building management system market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Building Management System Market Scope and Market Size
Building management system market is segmented on the basis of software, service type, application and component. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of software, the building management system market is segmented into facility management, security management, energy management, emergency management and infrastructure management. The facility management is further sub-segmented into lighting control and HVAC control. The security management is further sub-segmented into video surveillance and access control.
- On the basis of service type, the building management system market is segmented into professional services and managed services.
- On the basis of application, the building management system market is bifurcated into residential, commercial and industrial. Commercial is further sub-segmented into office buildings, retail and public buildings, educational institutes, hospitals and healthcare facilities, airports and railways and others.
- Based on component, the building management system market is segmented into hardware and software.
Building Management System Market Country Level Analysis
Building management system market is analyzed and market size, volume information is provided by software, service type, application and component as referenced above.
The countries covered in the building management system market report are U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA)as a part of Middle East and Africa (MEA).
Europe leads the building management system market due to the early adoption of building management system which boosted the demand. Asia-Pacific is expected to expand at a significant growth rate of over the forecast period of 2021 to 2028 due to the high growth of technological advancements and availability of cheap and skilled labors.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Building Management System Market Share Analysis
Building management system market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, regional presence, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to building management system market.
The major players covered in the building management system market report 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 other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Customization Available : Global Building Management System Market
Data Bridge Market Research is a leader in consulting and advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include production cost analysis, trade route analysis, price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), import export and grey area results data, literature review, consumer analysis and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Fact book) or can assist you in creating presentations from the data sets available in the report.