Intelligent Building Management Systems in India: Rapid Development in Indian Hospitality Industry to Drive Market Growth

2024-11-08 11:25:13 News & Society

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Intelligent building management systems (IBMS) are employed to centralize the security supervision and the management of facilities within a building. Rapid development of the Indian hospitality industry is significantly driving the market for IBMS in India. The increasing number of green buildings and the rise in the industrial sector are also supporting the Indian IBMS market.

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A research report, published by Transprency Market Research (TMR), a market intelligence and research firm, determines that the india IBMS market stood at US$780 million in 2014. Aided by the economic development of the country, the market is expected to report an impressive CAGR of 28.1% during the period from 2015 to 2021 and reach an overall market value of US$4,347.7 million by 2021.

Security Control Market to Maintain its Dominance in Future

General lighting controls, security controls, HVAC controls, access controls, outdoor controls, entertainment controls, communication systems are the key components of the IBMS products market in India. In 2014, the market for security controls acquired the leading position, holding over 30% of the overall market.

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The market segment was valued at US$291.3 million in 2014 and is expected to maintain its dominance in the coming years, on account of the increasing concerns among people regarding safety and security, particularly for cyber security. The growing need to limit the rising incidence of traffic violence is also contributing to the growth of this market.

Hospitality, Residential, and Retail Sector Emerges as Leading End User of IBMS

In 2014, the hospitality, residential, and retail industries emerged as the leading end users for IBMS in India. The end-use industries collectively reported a revenue of US$185.1 million that year. The rising application of IBMS in hotels, retail stores, and residential buildings in general lighting control systems, access control systems, entertainment control systems, and security systems in the nation is the main factor behind the emergence of this industry as the biggest consumer of IBMS.

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While this market segment is likely to retain its leading position in the overall market, the centers of education and learning such as religions constructions and educational premises are expected to register the fastest development, in terms of demand for IBMS, in the near future.

Regionally, the India IBMS market is spread across East India, West India, North India, and South India. Of these regions, South India leads the overall IBMS market in India. In 2014, he South Indian IBMS market accounted for US$296.4 million, in terms of revenue, and is projected to continue its market dominance also in the near future. High disposable income of people living in the region, rapid industrialization, and well established hospitality industry are the key factors fuelling the demand for IBMS in this region.

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Technical Advancement to Fuel IBMS Market in India

The India IBMS market is expected to derive immense growth in the coming years owing to the introduction of many technical advancements in IBMS. The development of modern satellite cities, mushrooming around the existing ones, is also anticipated to present ample opportunities for the major market players. However, the dearth of skilled professionals required to operate IBMS is likely to hamper the growth of this market.

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ABB India, Schneider Electric, ADT Corp., Control4 Corp., Legrand, Crestron Electronics, Cisco Systems, Honeywell Automation, Siemens Building Technology, and Johnson Controls are the major players operating in the intelligent building management systems (IBMS) market. Most of these companies are based in South India, signifying South India?s dominance over the India BIMS market.

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