Building Management System Market Poised to Grow at a CAGR of 14.1% by 2024
Infinium Global Research has added a new report on Building Management System Market.
The report presents analysis of global as well as regional markets of building
management system market over the period of 2016 to 2024. 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
Moreover, the growth matrix presented by Infinium Global
Research identifies the key investment markets in the near future, this will
not only help the companies to understand the competitive position in the
global building management system market but also make strategic decisions to
capture the most lucrative markets in the near future. The market size is
presented in terms of value for the historic year 2016 and estimated for
forecast period of 2018-2024.
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The recent report identified that Europe dominated the global
building management system market over the last couple of years, while emerging
markets of Asia-Pacific and Latin America are anticipated to contribute
significantly to the growth in the building management system market worldwide.
The report segments the global building management system
market on the basis of Component and Application.
Global Building Management System Market by
Global Building Management System Market by
Companies Profiled in the Report
Honeywell International Inc.
Johnson Controls International PLC
Schneider Electric SE
United Technologies Corp.
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