A recent report published by Infinium Global Research
on building management system market provides in depth analysis of segments and
sub-segments in global as well as regional building management system market.
The study also highlights the impact of drivers, restraints and macro indicators
on the global and regional building management system market over the short
term as well as long term. The report is a comprehensive presentation of
trends, forecast and dollar values of global building management system market.
According to report the global building management system market is projected
to grow at a CAGR of 14.1% over the forecast period of 2018-2024.
Market
Insight
Building management
systems (BMS) refers to building automation system that ensure 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, stream, gas, and oil) and water system.
The building management
system is significantly used in the industrial, commercial and residential
building owing to its energy efficiency, cost effective, high Comfort and
several others benefits. The factor driving the growth of BMS market is the
energy and cost effective solutions offered by building management system
market especially in the commercial industries. In addition, the demand of
energy efficient and ecofriendly building is rising vary rapidly across the
world that is likely to escalate the growth of Building management system
market. However, the installation cost of building management system is high
that may restrain the growth of building management system market.
Moreover, the trending
integration of internet of things (IoT) with the various system and the
Integration of Analytics in building management are projected to create the
several opportunities in the building management system market in upcoming
years. In addition, growing demand of building management system across various
emerging regions is expected to contributing in the growth of BMS market over
the forecast period.
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 system as they offer energy and cost effective solution. Moreover,
rising awareness about energy efficient and ecofriendly services drives the
growth of 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 of building management system from the
growing countries like china and India are likely to boost the market growth in
the Asia pacific region.
Segment Covered
The report on global building management system market
covers segments such as, component and application. On the basis of component the global building
management system market is categorized into hardware, software and service
type. On the basis of application the global building management system market
is categorized into residential, commercial and industrial.
Geographic Coverage
The countries covered in the North America region
include the U.S., Canada, and Mexico; while Asia-Pacific includes China, Japan,
India, South Korea, Malaysia, and among others. Moreover, Germany, U.K.,
France, Spain, and Rest of Europe are included in the European region. The U.S.
drives the growth in the North America region as it is the largest market in
the region. The Asia-pacific region offers a substantial potential for the
market growth owing to rapid growth in markets such as India and China. The
APAC region is projected to experience a growth at a CAGR of x.x% over the
period of 2018-2024.
Companies Profiled:
The report provides profiles of the companies in the
global building management system market such as, Honeywell International Inc.,
Johnson Controls International PLC, Schneider Electric SE, Siemens AG, IBM
Corporation, United Technologies Corp., Delta Controls and Ingersoll-Rand Plc.
Report Highlights:
The report provides deep insights on demand forecasts,
market trends and micro and macro indicators. In addition, this report provides
insights on the factors that are driving and restraining the global building management
system market. Moreover, IGR-Growth Matrix analysis given in the report brings
an insight on the investment areas that existing or new market players can
consider. The report provides insights into the market using analytical tools
such as Porter's five forces analysis and DRO analysis of building management
system market. Moreover, the study highlights current market trends and
provides forecast from 2018-2024. We also have highlighted future trends in the
building management system market that will impact the demand during the
forecast period. Moreover, the competitive analysis given in each regional
market brings an insight on the market share of the leading players. This
report will help manufacturers, suppliers and distributors of the building
management system market to understand the present and future trends in this
market and formulate their strategies accordingly.
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