Pune, India -- (SBWIRE) -- 12/18/2019 -- Infinium Global Research has recently published a premium report on "Building Management System Market(Component - Hardware, Software, and Service Type; Application - Residential, Commercial, and Industrial) Global Industry Analysis, Trends, Market Size and Forecasts to 2024." The global building management system market is projected to grow at a CAGR of 14.1% over the forecast period of 2018-2024.

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According to the IGR research analysts, the energy and cost-effective solutions offered by the building management system especially in the commercial sector is driving the growth of the market. Moreover, the trending integration of the internet of things (IoT) with the various system and the Integration of Analytics in building management are projected to create several opportunities in the building management system market in upcoming years. IoT devices are able to deliver the right information at the right time to the right person. There is not only productivity or behavioral benefit to IoT devices, but also there's the financial benefit of reducing utility spending and equipment costs.

Raising Awareness About Energy Efficient and Eco-friendly Services Driving the Growth of the Market During the Forecast Period

The report gives an in-depth analysis of the global building management systems market, focuses on the market opportunities along with the trends driving the market. The report provides extensive qualitative insights on the potential and niche segments or regions exhibiting favorable growth. It provides the market segmentation by component (hardware, software, service type) by application (residential, commercial, industrial) and by region.

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Europe is Expected to Remain the Largest Region During the Forecast Period

Geographically, Europe holds the maximum share in the building management system market and is expected to remain the largest region over the period of 2018 to 2024. The various government agencies are taking initiative in the adoption of a building management system as they offer energy and cost-effective solution. Moreover, raising awareness about energy-efficient and eco-friendly services drives the growth of the building management system market in this region.

Top Key Players in the Building Management System Market

The key players featured in the report are Honeywell International Inc., Johnson Controls International PLC, Schneider Electric SE, Siemens AG, IBM Corporation, United Technologies Corp., Delta Controls and Ingersoll-Rand Plc. In November 2018, Johnson Controls announced an agreement to sell power solutions business to Brookfield Business Partners. The transaction enabled Johnson Controls as a better building technologies and solutions provider that is positioned to lead the integration and evolution of the connected building and to capture strategic opportunities in the HVAC industry. In June 2019, ALPI has joined Schneider electric. ALPI is a European leader in automated design and modeling software for electrical installations and has been developing Caneco solutions for more than 30 years.

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Report Highlights

The report provides deep insights on demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the global building management system market. Moreover, the IGR-Growth Matrix analysis given in the report brings insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the building management system market.

Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the building management system market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings insight into the market share of the leading players. This report will help manufacturers, suppliers, and distributors of the building management system market to understand the present and future trends in this market and formulate their strategies accordingly.

Reasons to Buy this Report:

=> Comprehensive analysis of global as well as regional markets of the building management system.

=> Complete coverage of all the product type and application segments to analyze the trends, developments, and forecast of market size up to 2024.

=> Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.  

=> Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.