India Intelligent Building Management Systems Market was valued at USD 780.0 million in 2014, growing at a CAGR of 28.1% from 2015 to 2021 to account for USD 4,347.7 million in 2021.
Albany, NY -- (SBWIRE) -- 05/01/2018 -- The Internet of Things (IoT) is set to disrupt the energy management by consumers using the meter in commercial buildings. Most of these investments are occurring independently of utility programs and constitute a new set of opportunities and threats to the traditional regulated utility model. Forward-thinking enterprises can, however, take advantage of the demand for intelligent building technologies and IoT enabled services as a path for ensuring improved customer satisfaction and engagement through innovative value-added services. The Indian market for intelligent business management systems is currently in a pivotal stage, and is expected to witness swift uptake in the coming years.
Building Automation Systems (BAS) coupled with IT systems and metering platforms essentially form a unified system that keeps track of, gives notification, and offers provides granular control, while monitoring the usage of energy and resources. While this system offers a detailed insight into a building's IQ, customers or property holders are enabled to actively participate in conservation of energy, with efficient transfer of data between rapidly evolving commercial systems and smart grids.
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Presently, India is undergoing a fundamental change in its architecture, control, and design concepts with regards to adoption of green and efficient technologies. While essentially being a prominent method to save energy resources, the concept of intelligent buildings is witnessing a tremendous shift in demand for distribution, communication, monitoring, upgradation, control, and active and intelligent transmission of energy, in India.
What factors are driving the intelligent building management system market?
Intelligent building management system (IBMS) has been designed to reduce man power, expedite ease of access, and control the appliances in a single or in multiple rooms. The overall market is predicted to rise over the coming years due to the surge in demand from growing green building infrastructure and the hospitality industry. Moreover, the expansion of the automation market is further fuelling the IBMS market in India. The booming economic conditions of India and the rising disposable incomes among of the citizens is propelling the country's IBMS market substantially. 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.
The IBMS market is foretold to offer a plethora of opportunities for vendors with the growing awareness of technologically advanced products among the consumers. Formation of modern satellite, clustered towns around established cities in India is providing a lucrative opportunity for vendors of IBMS. Additionally, the Indian government has concrete plans to construct a hundred new smart cities and has assigned nearly USD 1 billion in the budget of 2015-16 for the same.
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Which geographical region is expected emerge dominant in this market?
In the year 2014, South India was evaluated to be a leading IBMS market in India. Over the coming years, the region is expected to continue to retain its dominance. The rising utilization of IBMS for the reducing operating costs and the consumption of energy is a key driver of the region's growth. South India is estimated to hold over thirty percent of the overall IBMS market in India.
Leading players in the India intelligent building management system market are ABB India Ltd., Siemens Building Technology Pvt. Ltd., Johnson Controls (India) Pvt. Ltd., ADT Corporation India, Control4 Corporation, Honeywell Automation India Ltd., and Legrand Pvt. Ltd., among others.