Overview:

The global building management system market is valued for more than US$ XXX.X Mn in 2019 and expected to reach a value of US$ XXX.X Mn by 2029 with a significant CAGR of around XX.X% over the forecast period of 2019-2029. Building Management Systems (BMS) are sometimes referred as building automation systems (BAS). This system is a computer based control systems installed to monitor and control the electrical and mechanical equipment of building such as power system, lighting, security system, fire system, and ventilation.

Market Dynamics:

Rise in preference of eco-friendly and environment friendly energy- efficient building around the globe is a major factor driving growth of the global market. In addition, rising need for energy efficient building development to reduce the energy consumption is another key factor supporting market growth. For instance, according to the US Energy Information Administration in 2017, the building sector in the US accounted for 40% of all energy consumption in the country, 38% of CO2 emissions, and 36% of greenhouse gas emissions.

Moreover, rising focus on user-friendly software development by key market players for management of energy consumption in building is expected to augment growth of the global market.

Key Trends:

Rising focus on development of advanced products for building management is a key trend observed in the target market. For instance, in 2018, Honeywell International has introduced Honeywell Vector Space Sense which is an IoT-enabled software solution that shows where, when, and how building spaces are used at any given point in time.

Regional Analysis:

For detailed understanding of market dynamics, the global building management system market is analyzed across key regions viz. North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The North America holds the major revenue share in the global market, owing to high adoption of advanced building management system in construction sector.

Major players focus on business expansion in developing countries in order to enhance the customer base is expected to boost the growth of target market over the forecast period.

Scope of the Report:

Detailed Segmentation:

Global Building Management System Market, By Solution:

• Hardware
• Software
• Services

Global Building Management System Market, By Application:

• Commercial Buildings
• Residential Buildings
• Government Buildings

Key Players Covered:

Key players operating in the building management system market includes, Johnson Controls International, Schneider Electric, Honeywell International, United Technologies Corp., Siemens AG, Robert Bosch, Legrand, Hubbell, ABB , and Ingersoll-Rand.

Key features of the study:

Foresight Market Research provides detailed analysis on global market in our report- Global Building Management System Market by solution, application, and region. The report provides market size (US$ Mn) and compounded annual growth rate (%) for the forecast period: 2019 – 2029, considering 2018 as the actual year. The report also contains in-depth analysis about market drivers, restraints, opportunities, new product launches, product approval, ongoing trends, and regional outlook. The report delivers competitive analysis about leading players in the global building management system market based on various parameters such as company overview, product portfolio, regional presence, financial performance, distribution strategies, key developments, marketing strategies, and future plans. The analysis from the report would acquaint the marketers and management authorities of companies to make the appropriate decision with respect to their future product launch, ongoing trends, market expansion, and marketing tactics used overall the globe.