Intelligent building management systems (IBMS) are utilized to handle the technology that is part of modern buildings. The aim of the intelligent buildings management systems (IBMS) is to integrate the control operations, monitoring, and well-organized managing of facilities in the buildings. These systems assist to attain more effective building operations at decreased labor costs and energy while offering a quality and safe working setting to the occupants.
The growth of the global intelligent building management systems (IBMS) market is primarily fueled by the swiftly growing construction industry. Further, with the rising population, need for sound infrastructure is also escalating. Even buildings built at the present time are integrating technology to enhance the society’s lifestyle. This increasing implementation of technology within the buildings has elevated the need for IBMS. In addition, the altering customer mindset assist to increase the cognizance about advanced technological solutions associated with building management. All of these factors are anticipated to drive the growth of the global intelligent building management systems (IBMS) market during the forecast period.
The global intelligent building management systems (IBMS) market can be bifurcated based on product, application, and geography. The market, based on product, is categorized into general lighting controls, communication protocols, standards & data distribution, security & access controls, outdoor controls, heating ventilation & air conditioning (HVAC) controls, and entertainment controls. The market, based on application, is divided into life science, hospitality, residential & retail, energy & infrastructure, religious centers, educational centers, office space, and manufacturing buildings.
Regionally, Asia Pacific is projected to observe the fastest expansion within global intelligent building management systems (IBMS) market during the forecast period. The regional expansion can be attributed to the swift development of the construction industry in budding nations like India and China. In addition, the energy-saving policies of the government have also positively influenced the development of the regional market. Further, nations such as India and China have started developing smart cities aggressively. The intelligent building management systems function as a vital enabler for these nations to accomplish those objectives.
The key players actively participating in the global intelligent building management systems (IBMS) market comprise Honeywell Automation India Ltd., Siemens Building Technology Pvt. Ltd, Crestron Electronics India Private Limited, Control4 Corporation, Legrand Pvt. Ltd., Johnson Controls (India) Pvt. Ltd., and ADT Corporation India, among others. These players have been concentrating on procuring a bigger market share by involving in merger and acquisition. To cite, in Sept 2018, Honeywell International Inc., completed the procurement of a warehouse automation solutions provider, Transnorm, allowing the previous to grow its customer base throughout the Western Europe.