Global Building Management System Industry to reach USD XX billion by 2025.
Global Building Management System Industry valued approximately USD XX billion in 2017 is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2019-2025. The Building Management System Industry is continuously growing across the world over the coming years. Building Management Systems (BMS) or building automation systems (BAS) are computer based control systems installed in buildings, which monitor and control the building’s electrical and mechanical equipment such as security system, fire system, power system, lighting and ventilation. Cost benefits associated with commercial, industrial and residential users, escalating demand for energy efficient & eco-friendly buildings, surging integration of IoT in both the developed and developing countries and simplified building operation & maintenance are the substantial drivers of the Industry across the globe. Moreover, IOT integration of this system will provide the more secure and remotely controlled solution. All these factor will further increase the demand for these system, which likely to boosting the demand in the upcoming years. However, high implementation costs and lack of technically skilled workforce are the key restraining factors of the Industry across the world.
The regional analysis of Global Building Management System Industry is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Europe is the leading/significant region across the world in terms of Industry share owing to early adopter of BMS. Asia-Pacific estimate to grow in the global Baby Food & Infant Formula Industry over the upcoming years. North America is also anticipated to exhibit higher growth rate / CAGR over the forecast period 2019-2025.
Building Management System Industry Share and Size by 2019-2025
Building Management System Market Segmentation:
* Commercial Building
* Residential Building
* Government Buildings
* North America
- Rest of Europe
- Rest of Asia-Pacific
- Latin America
- Middle East & Africa
Major Market Players in Building Management System Market are as follows:
Honeywell International Inc.
Johnsons Controls International Inc.
Schneider Electric SE
United Technologies Corporation