Building Management System Market Update: Exceeding Expectations of Key Players That Shows Promising Future
Seattle, WA -- (SBWIRE) -- 10/31/2019 -- A Building Management System (BMS) is a computer-based control system installed in buildings that that can be used to monitor and manage mechanical and electrical equipment such as ventilation, lighting, power systems, fire systems, and security systems in a facility. A BMS consists of software and hardware; the software program, usually configured in a hierarchical manner, can be proprietary, using such protocols as C-Bus, Profibus, and so on. Vendors are also producing BMSs that integrate using Internet protocols and open standards such as DeviceNet, SOAP, XML, BACnet, LonWorks and Modbus.
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The building management system is significantly used in the industrial, commercial and residential building owing to its energy efficiency, cost-effective, high Comfort and several other benefits. The factor driving the growth of the BMS market is the energy and cost effective solutions offered by building management system market, especially in the commercial industries. In addition, the demand for energy efficient and eco-friendly building is rising to very rapidly across the world that is likely to escalate the growth of Building management system market. However, the installation cost of building management system is high that may restrain the growth of building management system market.
Key players Analysis :
Johnson Controls International PLC, Honeywell International Inc., Siemens AG, Schneider Electric SE, United Technologies Corp., IBM Corporation, Ingersoll-Rand PLC, Delta Controls, Crestron Electronics, Inc., Buildingiq, Inc.
By Type :
Building Management System Market is segmented into Professional Services, Managed Services.
By Application :
Building Management System Market is segmented into Residential, Commercial, and Industrial.
By Software :
Building Management System Market is segmented into Facility Management, Security Management, Energy Management, Emergency Management, and Infrastructure Management.
The Facility management is further divided into Lighting Control, HVAC Control.
The Security management is further divided into Video Surveillance, Access Control.
Regional Outlook :
The countries covered in the North America region include the U.S., Canada, and Mexico; while Asia-Pacific includes China, Japan, India, South Korea, Malaysia, and among others. Moreover, Germany, U.K., France, Spain, and Rest of Europe are included in the European region. The U.S. drives the growth in the North America region as it is the largest market in the region. The Asia-pacific region offers substantial potential for the market growth owing to rapid growth in markets such as India and China. The APAC region is projected to experience growth at a CAGR of x.x% over the period of 2018-2025.
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 2025. The various government agencies are taking initiative in the adoption of 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 building management system market in this region. Furthermore, the Asia Pacific is the fastest growing region in the building management system market. The rapidly growing demand for building management system from the growing countries like China and India are likely to boost the market growth in the Asia Pacific region.
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