The latest report on Building Management System Market by Infinium Global Research gives complete coverage of the Building Management System Market by component (hardware, software, service type), applications (residential, commercial, industrial) in terms of key trends, market size, forecast and CAGR growth over the period of 2018 to 2024. In addition, the study covers deep dive into key product and applications trends in the regional markets of Building Management System such as North America, Europe, Asia-Pacific and Latin America over the short run and long run. The global building management system market is projected to grow at a CAGR of 14.1% over the forecast period of 2018-2024.
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Building management systems (BMS) refers to building automation system that ensures increased safety, comfort, and efficient resource consumption. The BMS is a computer-based system installed to effectively monitor and control the mechanical, electrical, and electromechanical services including security, lighting, ventilation, fire, power systems (electrical, steam, gas, and oil), and water system.
The Factor Driving the Growth of the BMS Market is the Energy and Cost-Effective Solutions Offered by Building Management System Market
The building management system is significantly used in industrial, commercial, and residential buildings owing to its energy efficiency, cost-effectiveness, high Comfort, and several other benefits. The factor driving the growth of the BMS market is the energy and cost-effective solutions offered by building management system market, especially in the commercial industries. In addition, the demand for energy-efficient and eco-friendly buildings is rising to very rapidly across the world that is likely to escalate the growth of the building management system market. However, the installation cost of building management systems is high that may restrain the growth of the building management system market.
Moreover, the trending integration of internet of things (IoT) with various systems and the Integration of Analytics in building management are projected to create several opportunities in the building management system market in upcoming years. In addition, the growing demand for building management systems across various emerging regions is expected to contribute to the growth of the BMS market over the forecast period.
Europe Holds the Maximum Share in the Building Management System Market
Geographically, Europe holds the maximum share in the building management system market and is expected to remain the largest region over the period of 2018 to 2024. The various government agencies are taking initiative in the adoption of building management systems as they offer energy and cost-effective solution. Moreover, raising awareness about energy-efficient and eco-friendly services drives the growth of the building management system market in this region.
Furthermore, the Asia Pacific is the fastest-growing region in the building management system market. The rapidly growing demand for building management systems from growing countries like China and India are likely to boost the market growth in the Asia Pacific region.
Table of Content:
Chapter – 1 Preface
Chapter – 2 Executive Summary
Chapter – 3 Global Building Management System Market Overview
Chapter – 4 Building Management System Market Macro Indicator Analysis
Chapter – 5 Global Building Management System Market by Component
- Service Type
Chapter – 6 Global Building Management System Market by Application
Chapter – 7 Global Building Management System Market by Region 2018-2024
- North America
Chapter – 8 Company Profiles and Competitive Landscape
- Honeywell International Inc.
- Johnson Controls International PLC
- Schneider Electric SE
- Siemens AG
- IBM Corporation
- United Technologies Corp.
- Delta Controls
- Ingersoll-rand Plc
Chapter – 9 Appendix
- Primary research findings and questionnaire
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