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Building Management System Market worth $33.83 billion by 2030, growing at a CAGR of 12.98% - Exclusive Report by 360iResearch
Building Management System Market | 360iResearch
The Global Building Management System Market to grow from USD 12.73 billion in 2022 to USD 33.83 billion by 2030, at a CAGR of 12.98%.
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A building management system (BMS) is a comprehensive control system installed in buildings to monitor and manage mechanical and electrical equipment, including ventilation, lighting, power systems, fire systems, and security systems. The building management systems (BMS) market encompasses the software, hardware, and services involved in the automation and management of building facilities. The rise in demand for energy-efficient and eco-friendly buildings and the need for automated building operation and maintenance are driving the market growth. Moreover, the integration of cloud computing, IoT, analytics, and artificial intelligence also fuels market development. BMS vulnerability to cyber attacks, high implementation costs, and lack of expertise and technical knowledge in BMS might restrict the market growth. New developments in building management systems, rising investment in smart city projects, and increasing the number of airports globally are expected to accelerate the need for sophisticated building management.
The United States and Canada present a mature building management market due to the early adoption of technology and stringent regulatory policies for energy efficiency. The presence of major BMS providers, such as Honeywell, Johnson Controls, and Siemens, drives innovation and competition within the region. Smart city initiatives and the enhanced focus on reducing carbon footprint further augment the market's growth. South American countries are gradually adopting BMS, spurred by increasing urbanization and industrial development. The Asia-Pacific region is experiencing significant development in the BMS market, spurred by the booming real estate industry, raising awareness about energy conservation, and governmental support in countries such as China, Japan, India, and South Korea. The region shows a high potential for adopting IoT and AI in building management systems due to the concentration of technology companies and increasing investments in smart city projects. Emerging economies are experiencing a surge in demand for energy-efficient infrastructure, creating numerous opportunities for the BMS market expansion. The EMEA region demonstrates a diverse market scenario, with Europe leading in BMS adoption due to its strong regulations on energy use and greenhouse gas emissions, particularly enforced by the European Union's directives. The market is characterized by a high demand for retrofitting and upgrading existing buildings with advanced BMS solutions. The Middle East, shows a significant growth potential due to the ongoing development of smart cities, particularly in the Gulf Cooperation Council (GCC) countries, driven by the necessity to optimize energy consumption amidst extreme climate conditions. Africa is an emerging BMS market, where economic constraints limit growth but show promise due to infrastructure development and urbanization.
Market Segmentation & Coverage:
This research report categorizes the Building Management System Market in order to forecast the revenues and analyze trends in each of following sub-markets:
Based on Component, market is studied across Hardware, Service, and Software. The Software commanded largest market share of 41.23% in 2022, followed by Hardware.
Based on Operation Module, market is studied across Electric Power Control, Elevators, Fire Alarm & Response, HVAC, Lighting Control, Plumbing & Water Monitoring, and Security & Observation. The Security & Observation commanded largest market share of 22.12% in 2022, followed by Electric Power Control.
Based on Deployment, market is studied across On-Cloud and On-Premise. The On-Cloud commanded largest market share of 87.88% in 2022, followed by On-Premise.
Based on Application, market is studied across Commercial, Industrial, and Residential. The Commercial commanded largest market share of 65.54% in 2022, followed by Residential.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Europe, Middle East & Africa commanded largest market share of 49.12% in 2022, followed by Americas.
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FPNV Positioning Matrix:
The FPNV Positioning Matrix is essential for assessing the Building Management System Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).
Market Share Analysis:
The Market Share Analysis offers an insightful look at the current state of vendors in the Building Management System Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.
Key Company Profiles:
The report delves into recent significant developments in the Building Management System Market, highlighting leading vendors and their innovative profiles. These include ABB Limited, Acuity Brands, Inc., Airedale International Air Conditioning Ltd., Arloid Automation Ltd., Azbil Corporation, BrainBox AI, BuildingIQ, Inc., Cisco Systems Inc., Crestron Electronics, Inc., Delta Controls Inc., Delta Electronics, Inc., DEXMA Sensors, SL, Elipse Software, ELKO EP, s.r.o., Entelec Control Systems, GridPoint, Inc., Honeywell International Inc., International Business Machines Corporation, Johnson Controls International PLC, Kellton Tech Solutions Limited, Lutron Electronics Co., Inc., Mitsubishi Electric Corporation, Myrspoven AB, Optergy, Schneider Electric SE, Siemens AG, Singapore Technologies Engineering Ltd., Symmons Inc., and Technovator International Limited.
Key Topics Covered:
1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Building Management System Market, by Component
7. Building Management System Market, by Operation Module
8. Building Management System Market, by Deployment
9. Building Management System Market, by Application
10. Americas Building Management System Market
11. Asia-Pacific Building Management System Market
12. Europe, Middle East & Africa Building Management System Market
13. Competitive Landscape
14. Competitive Portfolio
The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The report answers questions such as:
1. What is the market size and forecast of the Building Management System Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Building Management System Market?
3. What is the competitive strategic window for opportunities in the Building Management System Market?
4. What are the technology trends and regulatory frameworks in the Building Management System Market?
5. What is the market share of the leading vendors in the Building Management System Market?
6. What modes and strategic moves are considered suitable for entering the Building Management System Market?
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About 360iResearch
360iResearch is a market research and business consulting company headquartered in India, with clients and focus markets spanning the globe.
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