Global Intelligent Building Management Systems Market to Rise at CAGR of 28.10% 2015-2021 as Security Concerns Grow

2024-11-07 08:33:24 News & Society

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Transparency Market Research has recently published a new research report that explains the various trends and dynamics shaping the intelligent building management systems (IBMS) market of India. The research report is titled ?Intelligent Building Management Systems Market - India Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2021.? According to the research report, the global intelligent building management systems market is expected to reach US$4.2 bn by the end of 2021 from US$0.8 bn in 2014, rising at a promising CAGR of 28.10% between 2015 and 2021.

Intelligent building management systems are designed and developed to centrally monitor and control the facilities of a certain building. The primary purpose of these systems is to safeguard the buildings in the most effective manner by reducing the labor as well as the energy costs. Furthermore, IBMS is also utilized on a large scale to optimize services in a building as such as heating, security, access, alarm and CCTV systems, and entertainment options.

The burgeoning Indian economy, increasing investment in infrastructure, evolution and adoption of green buildings, and the rise of the hospitality industry are all expected to contribute to the growth of the intelligent building management systems market in India. The growing disposable incomes and the surging demand for improved services are also expected to boost this market in the near future. The only major restraint on this market is the lack of skilled operators to work with these systems.

The intelligent building management systems market is segmented on the basis of product, application, and geography. The products available in this market are general lighting controls, security controls, communication systems, access controls, entertainment controls, HVAC controls, and outdoor controls amongst others. Applications of these systems are seen in life science buildings, hospitality, residential, and retail buildings, office spaces (such as BPOs, ITES, banks, and IT parks), centers of education and learning, manufacturing units, and energy and infrastructure spaces.

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Of the types of products, the security control segment was valued at US$291.3 mn in 2014, accounting for nearly 30% of the overall market. Analysts predict that this segment will continue its dominance in the coming years due to reduction in traffic violations, growing need for safety and security, and increasing concerns over cyber security. Amongst the end users, the hospitality, residential, and retail segment stood at US$185.1 mn in 2014, measuring up to be the biggest user of these systems. Researchers also predict that the centers of education and learning segment will grow at an exceptional pace in the coming few years.

Some of the important players in the intelligent building management systems market of India are Siemens Building Technology, Control4 Corporation, Honeywell Automation India, Schneider Electric India, ABB India, Cisco Systems, and Johnson Controls (India). The research report profiles these players and provides a fair assessment of the competitive landscape in the market. The report also explains the pace the technological developments and the demand scenario that is shaping the overall market. Furthermore, the report includes an evaluation of the financial overview, research and development strategies, investment outlook, business and marketing strategies, and strategic mergers and acquisitions.

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