Intelligent Building Management Systems Market Industry Analysis, Trend and Growth, 2016 - 2024
Intelligent building management systems (IBMS) are used to manage the technology involved in modern buildings. Building management systems are further developed with the help of Internet and related IT infrastructure to create IBMS. All the management systems installed in a building are integrated in the IBMS with help of Internet protocol (IP) network. It helps in reducing the energy consumption rate and carbon footprint for the building. Automation helps in maintaining the sound infrastructure of the buildings and comply with the rules and regulations developed by government for building security. Operating costs are reduced with the help of IBMS as all the tasks related to maintenance are performed as per the schedule without any need of inspection.
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Intelligent Building Management Systems Market: Key Drivers
Rapidly increasing construction sector is the main driver of the IBMS market. With the growing population, requirements for sound infrastructure are also rising. Also, buildings constructed nowadays are incorporating technology to improve the lifestyle of society. This rising adoption of technology in the buildings has increased the demand for IBMS. As new and innovative management solutions are being deployed in the buildings to manage technical applications. A single front-end interface is provided in the IBMS through which all the subsystems are managed.
It helps in increasing the efficiency of the whole building by reducing the errors and failures. Further, rules and regulations related to building safety has increased the demand for IBMS. All the buildings must comply with the safety standards established by the government. IBMS has different modules to deal with situations such as fire and flood. With the help of alarm systems residents are informed about the situation so that they can take evasive actions to protect themselves.
Moreover, changing customer mindset helps to boost the awareness about innovative technological solutions related to building management. Consumers are aware about the latest developments related to building safety and are demanding for it. Power-line communications provide tremendous growth opportunities for the IBMS market. It assists power-line communication technology by improving the low speed and high speed networking operations. However, lack of awareness about the IBMS and incompatibility of devices involved in the IBMS with the present systems are restraining the growth of IBMS market.
Intelligent Building Management Systems Market: Segmentation
The IBMS market is segmented on the basis of product and application. On the basis of product the IBMS market is divided into the following segments: Communication protocols, general lighting controls, security and access controls, standards and data distribution, heating ventilation and air conditioning (HVAC) controls, outdoor controls, and entertainment controls. Furthermore, the applications using IBMS include hospitality, life science, energy and infrastructure, residential and retail, educational centers, religious centers, manufacturing buildings, and office space. Moreover, on the basis of geography, the global IBMS market is segmented into Europe, North America, Asia Pacific, Latin America, and the Middle East and Africa.
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Intelligent Building Management Systems Market: Key Players
Major players in the IBMS market include Singapore Technologies Electronics Limited, Allied Digital Services limited, NG Bailey Group, Schneider Electric SE, Delta Electronics, Inc., Siemsatec Ltd., Pacific Control Systems, Larsen & Toubro Limited, T-Systems International GmbH and Advanced Control Corporation.
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