Integrated Building Management Systems Market market to witness considerable upsurge during 2018-2026 according to new research report
Global Integrated Building Management Systems Market is growing at a CAGR of 13.9% during the forecast period. Increasing energy savings and low cost among commercial end-users and degree of flexibility offered by integrated building management systems are some of the factors fuelling the market growth. However, the high cost of switching from a traditional individual building management system is restraining market growth. Moreover, the convergence of the Internet of things (IoT) and smart buildings are providing opportunities for market growth.
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An integrated building management system is a master control system that networks all of the mechanical, electrical, IT, and security systems of a facility, unifying them into a single system so they can share information and work together seamlessly. Integrating all of the components into a single cohesive unit allows the various systems to share information so they can work more effectively. The end result of this interoperability is greater efficiency, lowered operating costs, and a more secure and responsive building environment.
Based on the type, the hardware segment has growing importance due to the increase in buildings and building management systems over individual building management systems and by replacing an unconnected system in existing buildings. By Geography, North America is likely to have a huge demand due to the increased adoption of advanced technology like power-line communications.
Some of the key players profiled in the Integrated Building Management Systems market include United Technologies, Siemens, Schneider Electric, Phoenix Energy Technologies, Oberix, MS Group, Johnson Controls, Jardine Engineering Corporation, Honeywell, Demont Engineering, Cisco, BuildingLogiX, Building IQ, Bosch Security, Bajaj Electricals, Avanceon, AllGreenEcotech and Alerton.
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