Global Building Management System Market By Software (Facility Management, Security Management, Energy Management, Emergency Management, Infrastructure Management), Service Type (Professional Services, Managed Services), Application (Residential, Commercial, Industrial), Component (Hardware, Software), Geography (North America, South America, Europe, Asia-Pacific, Middle East & Africa) - Industry Trends and Forecast

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Major Market Competitors/Players

Few of the major competitors currently working in the global building management system market are Honeywell International Inc, Johnson Controls, Schneider Electric, Siemens, United Technologies, ABB, Azbil Corporation, Delta Controls, LARSEN & TOUBRO LIMITED, Mitsubishi Electric Corporation, Robert Bosch GmbH, Singapore Technologies Engineering Ltd, DEXMA SENSORS, S.L., Eagle Technology, Legrand, 

Market Drivers:

Surging preference for eco-friendly and energy-efficient buildings, is driving the market growth
Cost benefits to commercial, residential, and industrial users, is helping the market to grow
Reduction in building maintenance and operation, is flourishing the market growth
Surging IOT in building automation system, drives the market growth

Market Restraints:

Lack of skilled professionals, hinders the market growth
High initial and installation costs, hampers the market growth

Segmentation: Global Building Management System Market

By Software

Facility Management
Lighting Control
HVAC Control
Security Management
Video Surveillance
Access Control
Energy Management
Emergency Management
Infrastructure Management

By Service Type

Professional Services
Managed Services

By Application

Residential
Commercial
Office Buildings
Retail and Public Buildings
Educational Institutes
Hospitals and Healthcare Facilities
Airports and Railways
Others
Industrial

Component

Hardware
Software

Geography

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Key Developments in the Market

In May 2018, Honeywell International Inc. had launched IQ Vision. It is a building energy management system which enables the building owners to optimize and manage the usage of energy. It has integrated various tools on a platform such as smart devices, internet protocols and trend controllers. This launch will enable the building owners to effectively control the building system.
In November 2017, Johnson Controls had launched BCPro which is an advanced Building Automation System designed for commercial buildings. The tools enable the easy and fast setup which helps in the reduction of configuration time. BCPro provides vivid function such as illumination, customization and editing for the easy access for viewing of data. The launch had improved system software and controllers communication processes to ensure the reliability and stability.

Competitive Analysis

Global building management system market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of building management system market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.

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