The IBMS market in India was valued at USD 780 million in 2014, growing at a CAGR of 28.1% from 2015 to 2021. The IBMS majorly find applications across hospitality, retail, office building, energy and other infrastructure buildings. In addition, reduction of power consumption, need for occupant comfort and reduction of man power are the major drivers for the growth of this market in the country.
Albany, NY -- (SBWIRE) -- 01/07/2016 -- The objective of the Intelligent Buildings Management Systems (IBMS) is to centralize the monitoring, control operations, efficient management of facilities within the building. These systems helps to achieve more efficient building operations at reduced energy and labor costs while providing a safe and quality working environment to the occupants. The IBMS products are designed to facilitate ease of access, reduce man power and control the all the appliances in a single or multiple rooms. The market is expected to grow during the forecast period due to the increasing demand from hospitality industry and growing green building infrastructure. In addition, augmented growth in automation market is further influencing the growth of IBMS market in India. Economic growth of India and growing disposable income among the citizens is also boosting the IBMS market in the country. Furthermore, the need for occupant comfort, reduction of operating cost, and need for energy efficiency is raising the demand of IBMS in various application sectors in India.
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The growth of IBMS market is observing hindrance due to lack of availability of skilled workforce. The Intelligent building management systems are usually complex and require skilled personals to operate. The cost of training operators to handle complex equipment such as HVAC control, outdoor controls, security and access control, energy management systems and smart meters is quite high. Owing to which, small scale companies cannot afford to invest large capital to train their operators. This factor is likely to affect the growth of the IBMS market in the country.
The IBMS market is expected to generate a lot of opportunities for the manufacturers with the growing awareness of technologically advanced products among the people. Clustering of modern satellite towns around existing cities in India is also acting as a lucrative opportunity for the IBMS vendors. Furthermore, Indian government plans to build hundred new smart cities and have allocated about USD 1 billion in the budget of 2015-16 for the same. Government is also planning infrastructure development in another five hundred cities in the country. These major infrastructure projects are expected to further boost the market of IBMS market substantially.
The India IBMS market report has been analyzed in terms of revenue (USD Million). The forecast period of the analysis is from 2015 to 2021. Furthermore, the report includes the key factors that are pushing and pulling the market in terms of the drivers and restraints. In addition, the future opportunities that can affect the market have also been discussed.
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The region segmentation for the IBMS market has been done by South India, West India, North India, East India and these have been estimated in terms of revenue (USD Million). In addition, the report segments the market based on the product, which include general lighting controls, communication systems, security controls, HVAC controls, access controls, outdoor controls entertainment controls and others. The India IBMS market is segmented by application into: hospitality, residential and retail, life science, office space, manufacturing, and energy and infrastructure. All these segments have also been estimated on the basis of geography in terms of revenue (USD Million).
In order to understand the intelligent building management systems market better, a key trend analysis section has also been provided which discusses the growth in various segments. In addition, the key players profiled in the report have further been analyzed in terms of the global market share held by them.
In the end, the report also covers the profiles of the leading vendors on the basis of their company overview, key developments, financial statements and business strategies adopted by the players in the India IBMS market. The major players profiled in the report include: Siemens Building Technology Pvt. Ltd, Honeywell Automation India Ltd Johnson Controls (India) Pvt. Ltd. Control4 Corporation, Crestron Electronics India Private Limited, ADT Corporation India and Legrand Pvt. Ltd. among others.
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