DUBLIN, July 21, 2017 /PRNewswire/ -- The "Building Management System Market by Software (Facility, Security, Energy, Emergency, Infrastructure Management), Service (Professional, Managed), Application (Residential, Commercial, Industrial), and Geography - Global Forecast to 2023" report has been added to Research and Markets' offering.
The building management system (BMS) market was valued at USD 6.65 billion in 2016 and is expected to reach USD 19.25 billion by 2023, at a CAGR of 16.71% between 2017 and 2023.
The major factors that drive the market for building management systems are significant cost benefits to industrial, commercial, and residential users, simplified building operations and maintenance, increasing demand for energy-efficient and eco-friendly buildings, and growing integration of IoT.
The growing integration of IoT with building automation systems (BASs) is also driving the growth of the building management market based on software. The smart devices that are integrated for the purpose of building automation and management are expected to be more self-governing and intelligent in terms of sharing data with BASs and with the cloud. .
Lack of technically skilled workers and high initial implementation costs pose a restraining block in the building management system market. The deployment of BMSs requires certain conditions and technical requirements to be met, and these conditions could be internal, operational, or external such as understanding of computer software, networking, and applications; designing; and testing the system. Maintenance and servicing require trained and skilled personnel to ensure that BASs run smoothly and have a longer lifespan. In the absence of these conditions, the implementation of building management solutions and services become difficult.
The key players in the building management system market are Honeywell International Inc. (US), Siemens AG (Germany), Johnson Controls International PLC (Ireland), Schneider Electric SE (France), United Technologies Corp. (US), IBM Corporation (US), Ingersoll-Rand Plc (Ireland), and Delta Controls (Canada).
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Building Management System Market, By Software
7 Building Management System Market, By Service Type
8 Building Management System Market, By Application
9 Geographic Analysis
10 Competitive Landscape
11 Company Profiles
- ABB Ltd.
- Airedale International Air Conditioning Ltd
- Azbil Corporation
- Buildingiq, Inc.
- Delta Controls
- Dexma Sensors, S.L.
- Distech Controls Inc.
- Eagle Technology
- Gridpoint, Inc.
- Honeywell International Inc.
- Johnson Controls International PLC
- Larsen & Toubro Limited.
- Legrand Sa
- Lutron Electronics Co., Inc.
- Mitsubishi Electric Corporation
- Robert Bosch GmbH
- Schneider Electric SE
- Siemens AG
- Singapore Technologies Electronics Limited
- Technovator International Limited.
- United Technologies Corp.
For more information about this report visit https://www.researchandmarkets.com/research/fstp5v/building
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