Building Management System Market Surging at 11.0% CAGR By 2024 According to latest Research
A building management system (BMS) is a computer-based control system installed in buildings that that can be used to monitor and manage mechanical and electrical equipment such as ventilation, lighting, power systems, fire systems, and security systems in a facility. The Global Building Management System Market accounted to USD 54.0 billion in 2016 growing at a CAGR of 11.0% during the forecast period of 2017 to 2024. The upcoming market report contains data for historic years 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
Major key players in this reports are operating in Building Management System Market are Johnson Controls International PLC, Honeywell International Inc., Siemens AG, Schneider Electric SE, United Technologies Corp., IBM Corporation, Ingersoll-Rand PLC, Delta Controls, Crestron Electronics, Inc., Buildingiq, Inc., Lucid, Distech Controls Inc., Gridpoint, Inc., Bosch Security, Bajaj Electricals, Jardine Engineering Corporation, MS Group, Oberix, AllGreenEcotech, Phoenix Energy Technologies among others. In 2017, Honeywell launched new particle sensor designed to help building owners and consumers monitor the air for potentially harmful particulate contaminants caused by dust, soot and smoke.
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The research is segmented 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 Energy Management market is expected to grow in the forecasted period. The Facility management is further divided into Lighting Control, HVAC Control. The Lighting control market is expected to grow in the forecasted period. The Security management is further divided into Video Surveillance, Access Control. The Access control market is expected to grow in the forecasted period. On the basis of services type the Building Management System Market is segmented into Professional Services, Managed Services. The Managed service market is expected to grow in the forecasted period. On the basis of application the Building Management System Market is segmented into Residential, Commercial, and Industrial. The Industrial market is expected to grow in the forecasted period. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others.
Building Management System Market is highly fragmented and is based on new product launches and clinical results of products. Hence the major players have used various strategies such as new product launches, clinical trials, market initiatives, high expense on research and development, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market.
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The Building Management System Market research report presents a comprehensive study on production capacity, consumption, import and export for all the major regions across the world. By keeping in mind the end user’s point of view, a team of researchers, forecasters, analysts and industry experts work in-depth to formulate this XYZ market research report. The research and analysis carried out in this Building Management System Market report assists clients to forecast investment in an emerging market, expansion of market share or success of a new product. To turn complex market insights into simpler version, well established tools and techniques are used for generation of Building Management System Market report.
Major Market Drivers and Restraints:
- Increased demand of Energy-Efficient Systems
- Growing automation of security systems in buildings
- IOT in Building Automation System
- Development of Building Automation-Centric Wireless Protocols and Wireless Sensor Network Technology
- Infrastructure Growth
The Building Management System Market is the most promising market research report which has been framed in the way you foresee. As today’s businesses insist the market research analysis before taking any verdict about the products, opting such market research report is essential for the businesses. This The Building Management System Market research report deals with an array of important market related aspects which can be listed as follows; market size estimations, company and market best practices, entry level strategies, market dynamics, positioning, segmentations, competitive landscaping and benchmarking, opportunity analysis, economic forecasting, industry-specific technology solutions, roadmap analysis, and in-depth benchmarking of vendor offerings.