Market Research Report
Global Building Management System Market Research Report Insights, Opportunity Analysis, Market Shares and Forecast, 2017 - 2023
|Published by||Occams Business Research & Consulting Pvt. Ltd.||Product code||572872|
|Published||Content info||190 Pages
Delivery time: Inquiry
|Global Building Management System Market Research Report Insights, Opportunity Analysis, Market Shares and Forecast, 2017 - 2023|
|Published: August 25, 2017||Content info: 190 Pages||
Global Building management system market is expected to growing with an attractive CAGR of 16.71% during 2016 - 2023. There are many of the major drivers which enhancing the global building management system Market such as increasing need for automation of security systems in building, Development of Building Automation-Centric Wireless Protocols and Wireless Sensor Network Technology, development of IOT in building automation system, upsurge in demand for energy-efficient systems, increasing use of smartphones in building automation. Moreover, favorable government initiatives and incentives and technological advancement is the upcoming opportunities which will help to grow the building management system market. Apart from this, due to increasing technical difficulty and lack of skilled experts & due to high cost of implementation is the major factors which hampering the overall growth of the market.
The Building management system Market is segmented on the basis of communication technology, offering and application. According to communication technology, market is further divided into wireless technology market and wired technologies market. On the basis of offering, market is subdivided into facility management systems, security and access control systems, fire protection systems, building energy management software market, bas services market, and others market. On the basis of application, residential application, commercial application and industrial application.
On the basis of geography, the global building management system market is segmented into four major regions such as North America, APAC, Europe and RoW. Currently, Europe is accounted to be the largest market share for Building Management systems due to due to the adoption of government initiatives, operational efficiency, changing business dynamic, sustainability advantages and supportive regulatory compliances which strengthen the overall market of the building management system and also helps to increase the penetration of system integration and deployment services. On the other side, Europe is the fastest growing region due to increasing smart-phone connectivity in building automation and upsurge in demand for energy-efficient systems.
There are many of the key manufacturing companies are engaged in ABB Ltd., AT&T Inc., BOSCH Security, Cisco, Honeywell International Inc., Hubbell Inc., Johnson controls international plc., Robert BOSCH GMBH, SIEMNS AG, and United technologies corp. For instance, In 2016 AT&T Inc. has announced that they expect to conduct trials of 5G in 2016 and move aggressively to commercial deployment. Similarly, in 2016 the company announced the complete acquisition of quick play media a leading provider of managed service solutions for the distribution of premium video to IP-connected devices.