Building Management System Market

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MarketsandMarkets Research Private Ltd.
Presents
Building Management System Market worth 19.25
Billion USD by 2023
https//www.marketsandmarkets.com/Market-Reports/b
uilding-management-system-market-28089524.html
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According to the new market research report on
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", the
building management system market is expected to
be worth USD 19.25 Billion by 2023, growing at a
CAGR of 16.71 between 2017 and 2023. Browse gtgt
61 market data tables
37 figures 137
pages and in-depth TOC on Home Automation System
Market https//www.marketsandmarkets.com/Market
-Reports/building-management-system-market-2808952
4.html Early buyers will receive 10
customization of reports.
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Major factors driving the building management
system market are the significant cost benefits
to the industrial, commercial, and residential
users, simplified building operations and
maintenance, and increasing demand for
energy-efficient and eco-friendly
buildings. Facility management software to hold
the largest share of the building management
system market The facility management software
held a major share of the BMS market based on
software in 2016. The large market share is due
to the need for cost saving from effective
management of HVAC and lighting systems in the
building. As these system consume the highest
power in the building, its efficient management
can result in significant cost saving. Managed
services expected to grow at the highest rate
between 2017 and 2023 The market for the managed
services is expected to grow at the highest rate
during the forecast period. Managed services are
the services outsourced to a service provider to
manage routine IT operations. While buildings are
becoming smarter and are eradicating
inefficiencies, even the most advanced
intelligent building technology requires the
human oversight. The human oversight can help in
identifying and eliminating problems, performing
ongoing maintenance, and monitoring energy
management operations.
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uilding-management-system-market-28089524.html
4
Maximum number of building management systems
are being deployed in Europe Europe accounted
for the largest share of the total building
management system market in 2016. The adoption of
building management systems (BMSs) in the region
has been driven by regulatory push, amended
policy framework, operational efficiencies, cost
containment, sustainability benefits, and
changing business dynamics, which would
eventually increase the penetration of system
integration and deployment services in this
region. The report profiles the most promising
players in the building management system market.
The key players in the 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).
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