Building Management Systems Market By Solution (Hardware, Software, Services, Professional, Managed); By Deployment (Cloud Based, On-Premises); By Offering (Facility Management System, Security Management System, Energy Management System, Emergency Management System, Infrastructure Management System, Others); By Application (Residential Buildings, Commercial Buildings, Industrial Buildings); By Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Market Analysis, Trends, Opportunity and Forecast, 2022-2032
Building Management Systems Market Overview
The global building management systems market size was valued at around USD 17.2 billion in 2022 and is projected to grow at a compound annual rate of growth (CAGR) of around 12.2% from 2022 to 2032.The market size is projected to succeed in USD 54.4 billion by 2032.
The market is being driven by a number of factors, including:
- The increasing demand for energy-efficient buildings.
- The growing popularity of smart buildings.
- The development of new and innovative BMS technologies.
The Asia Pacific region is expected to be the fastest-growing market for BMS, followed by North America and Europe.
Building Management Systems Market Insights
The demand for building management systems is growing on the back of increasing awareness of energy conservation, innovation & advancement of building technologies with data analytics and rising concern towards the reduction of energy consumption & maintenance costs of buildings. The market players are focused towards the designing and establishment of energy-efficient & eco-friendly buildings solutions in order to meet the demand of its customers. Further, the ongoing development of wireless sensor network technology & wireless protocols for building management systems and rapid penetration of internet of things (IoT) in BMS are anticipated to bolster the growth of the overall market in the upcoming years.
Building Management Systems Market Segmentation Analysis
The global market for building management systems is segmented by solution, deployment, offering and application. On the basis of solution, the market is segmented into hardware, software, and services, out of which, hardware segment is expected to grow at a considerable CAGR over the forecast period, i.e., 2022-2032. Further, it was followed by services segment in terms of market share in 2019.
By deployment, the market is divided into cloud based and on-premises, out of which, cloud based segment is anticipated to register a higher revenue share in the global building management systems market over the forecast period. Apart from this, the on-premises segment is projected to attain a notable CAGR over the forecast period.
Based on offering, the market is segregated into facility management system, security management system, energy management system, emergency management system, infrastructure management system and others, out of which, facility management system segment is believed to attain the highest market share in the overall market over the upcoming years. In addition to this, application segment is further divided into residential buildings, commercial buildings and industrial buildings, out of which, commercial buildings segment is envisioned to thrive at a significant CAGR over the forecast period i.e. 2022-2032.
Building Management Systems Market Geographical Analysis
In terms of geography, the report offers an analysis of North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In the building management systems market, Asia Pacific is projected to capture a significant market share over the forecast period. Further, factor such as rising government initiatives toward energy conservation and rapid growth of the construction industry in the region are expected to drive the growth of Asia Pacific building management systems market. Also, the North America market is driven on the back of growing adoption of automated security systems in buildings and is envisioned to grow at a significant compound annual growth rate (CAGR) from 2022 to 2032.
Building Management Systems Market Competitive Analysis
The report also covers detailed competitive analysis of major market players of global building management systems market, such as Cisco, IBM, Siemens, Honeywell, Johnson Controls, ABB, Mitsubishi Electric Corporation, Vacker Dubai, BELTEL, AFTEK LIMITED and other major & niche players. The global building management systems market is witnessing a wide range of industry activities such as innovation, acquisition, product launch, partnership, research & development and expansion across the globe.
Building Management Systems Market Segmentation
- Cloud Based
- Facility Management System
- Security Management System
- Energy Management System
- Emergency Management System
- Infrastructure Management System
- Residential Buildings
- Commercial Buildings
- Industrial Buildings
- North America (U.S. & Canada)
- Europe (Germany, United Kingdom, France, Italy, Spain, Russia and Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Indonesia, Taiwan, Australia, New Zealand and Rest of Asia Pacific)
- Latin America (Brazil, Mexico and Rest of Latin America)
- Middle East & Africa (GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa and Rest of Middle East & Africa)
The report profiles various major market players such as;
- Johnson Controls
- Mitsubishi Electric Corporation.
- Vacker Dubai
- AFTEK LIMITED
- Other Major & Niche Players
Competitive landscape analysis provides detailed strategic analysis of the company’s business and performance such as financial information, revenue breakup by segment and by geography, SWOT Analysis, key facts, company overview, business strategy, key product offerings, marketing and distribution strategies, new product development, recent news (acquisition, expansion, technology development, research & development and other market activities).
The study also provides company’s positioning and market share in building management systems market.
Timeline Considered for Analysis:
- 2021: Base Year
- 2022: Estimated Year
- 2022 to 2032: Forecast Period
Research Scope and Deliverables
Overview & Executive Summary
Market Drivers, Trends, Challenges and Opportunities
Market Size and Forecast Projections
Macroeconomic Indicators of Various Countries Impacting the Growth of the Market
Extensive Coverage of Industry Players including Recent Product Launches and Market Activities
Porter’s Five Force Analysis
Market Segmentation Analysis:
Industry report analyzes the global building management systems market by the following segments:
Customization: We also offers customization’s in the industry report as per the company’s specific needs.
Key Questions Answered in the Global Building Management Systems Industry Report:
- What is the overall market size in 2021? What will be the market growth during the forecast period i.e. 2022-2032?
- Which region would have high demand for product in the upcoming years?
- What are the factors driving the growth of the market?
- Which sub-market will make the most significant contribution to the market?
- What are the market opportunities for existing and entry-level players?
- What are various long-term and short-term strategies adopted by the market players?