LONDON--(BUSINESS WIRE)--Technavio has been monitoring the global integrated building management systems market since 2016 and the market is poised to grow by USD 9.70 billion during 2019-2023, progressing at a CAGR of over 12% during the forecast period. Request Free Sample Pages
Read the 168-page research report with TOC on "Integrated Building Management Systems Market Analysis Report by End-user (commercial, residential, government), by Component (hardware, software, and services) by Geographical regions (Europe, APAC, North America, MEA, and South America), and Segment Forecasts, 2019 - 2023."
The market is driven by the growing demand for energy efficiency and sustainability in buildings. In addition, the increasing integration of IoT with IBMS is anticipated to further boost the growth of the integrated building management systems market.
There is an increase in the demand for energy efficiency across buildings and facilities due to the rising concern over environmental sustainability across industries. In addition, the rapid growth in urbanization across the world is also driving the consumption of energy in urban areas. This is encouraging market players in the real estate sector to minimize energy demand by making investments in low carbon technologies. This is driving the popularity of IBMS as these systems help in saving energy by monitoring and controlling all the disparate systems of the building efficiently and in real time. Thus, the growing demand for energy efficiency and sustainability in buildings is expected to drive market growth during the forecast period.
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Major Five Integrated Building Management Systems Market Companies:
Azbil Corp. is headquartered in Japan and owns and operates businesses under various segments such as building automation, advanced automation, and life automation. The company’s key offerings include savic-net and facility management station. These offerings centralize the various management systems in buildings and facilities.
Cisco Systems Inc.
Cisco Systems Inc. is headquartered in the US and manufactures and offers products through global business units: product and service. The company’s key offering includes the digital building solution, which integrates smart lighting, building automation, and IoT to implement smart buildings.
Delta Electronics Inc.
Delta Electronics Inc. is headquartered in Taiwan and has business operations under various segments, namely power electronics, automation, and infrastructure. The company offers IBMS primarily through its subsidiaries, LOYTEC electronics GmbH and Delta Controls.
Emerson Electric Co.
Emerson Electric Co. is headquartered in the US and offers products through business segments including automation solutions and commercial and residential solutions. The company’s key offerings include the E2 BX building control system.
Honeywell International Inc.
Honeywell International Inc. is headquartered in the US and offers products through business units including aerospace and performance materials and technologies. The company’s key offering includes HVAC and building management systems, which help in implementing smart buildings.
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Integrated Building Management Systems End-users Outlook (Revenue, USD Million, 2019 - 2023)
Integrated Building Management Systems Regional Outlook (Revenue, USD Million, 2019 - 2023)
- North America
- South America
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