Energy conservation through energy efficiency in the building has acquired prime importance worldwide. The main aspects of energy efficiency in a building include energy-passive building design before actual construction and low-energy building materials during construction. The main focus of green building construction is the integration of renewable energy technologies and the use of efficient equipment with low operational energy requirements. Energy consumption in buildings and infrastructure increases exponentially, suggesting the need to develop alternatives to save energy and sustainably operate buildings. Energy efficiency can be achieved with insulation, improved building techniques, and modified construction methods for buildings, raising the demand for sustainable automation systems.
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Data Bridge Market Research analyzes that the Global Building Management System Market is expected to reach USD 200,517,985.93 thousand by 2031 from USD 88,841,536.28 thousand in 2023, growing with a CAGR of 11.4% during the forecast period of 2024 to 2031.
Key Findings of the Study
Rising Adoption of Automated Security Systems in Commercial Buildings
Security systems are essential for all buildings, especially for commercial buildings. It guarantees business operations' consistency and the security of physical and intellectual property. Commercial properties such as industrial enterprises, financial and governmental institutions, schools, medical facilities, and oil and gas companies require a unique set of safety and security measures as each type of property is vulnerable to different hazards. A security system for commercial buildings presents a more comprehensive solution than typical apartment building security systems and comprises different automation systems. This includes multi-layered commercial access control, various sensors and detectors, such as infrared, microwave, or laser sensors, and perimeter security (CCTV). All commercial security systems can be integrated into a complex security solution with greater flexibility and scalability.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2024 to 2031
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Base Year
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2023
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Historic Years
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2022 (Customizable to 2016-2021)
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Quantitative Units
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Revenue in USD Thousand
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Segments Covered
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System Type (Facility Management Systems (FMS), Security and Access Control Systems, Energy Management Systems, Building Management Software (BMS), Fire Protection Systems, and Others), Technology (Wireless Technologies and Wired Technologies), Application (Residential, Commercial, and Industrial)
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Countries Covered
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U.S., Canada, Mexico, Germany, France, U.K., Italy, Turkey, Spain, Netherlands, Russia, Belgium, Switzerland, Rest of Europe, China, Japan, South Korea, India, Australia, Singapore, Malaysia, Thailand, Philippines, Indonesia, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Israel, Egypt, Rest of Middle East and Africa, Brazil, Argentina, and Rest of South America
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Market Players Covered
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Johnson Controls (U.S.), Schneider Electric (France), Siemens (Germany), Hangzhou Hikvision Digital Technology Co., Ltd. (China), Honeywell International Inc. (U.S.), Trane Technologies plc (Ireland), IBM (U.S.), Convergint Technologies LLC (U.S.), Veolia (France), Delta Controls (Canada), ACUITY BRANDS, INC. (U.S.), Snap One, LLC (U.S.), Virtusa Corp. (U.S.), Crestron Electronics (U.S.), Beckhoff Automation GmbH & Co. KG (Germany), Bajaj Electricals Ltd (India), GridPoint (U.S.), UNIPOWER (U.S.), Novius Services (U.S.), Elipse Software (Brazil), BuildingIQ (U.S.), and Axonator Inc (U.S.) among others
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand
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Segment Analysis
The global building management system market is segmented into three notable segments based on system type, technology, and application.
- On the basis of system type, the global building management system market is segmented into Facility Management Systems (FMS), Fire Protection Systems, security and access control systems, energy management systems, Building Management Software (BMS), and others
In 2024, the Facility Management Systems (FMS) segment is expected to dominate the global building management system market
In 2024, the Facility Management Systems (FMS) segment is expected to dominate the market with a 53.18% market share as it supports efficient functionality of buildings which increases its demand globally.
- On the basis of technology, the global building management system market is segmented into wireless technologies and wired technologies. In 2024, the wireless technologies segment is expected to dominate the market with 69.25% market share
- On the basis of application, the global building management system market is segmented into commercial, residential, and industrial
In 2024, the residential segment is expected to dominate the global building management system market
In 2024, the residential segment is expected to dominate the market with a 42.44% market share as BMS helps reduce the risk of thefts in residency areas which increases its demand globally.
Major Players
Data Bridge Market Research analyzes Johnson Controls (U.S.), Hangzhou Hikvision Digital Technology Co. (China), Honeywell International Inc. (U.S.), Siemens (Germany), and Schneider Electric (France) as the major players operating in the global building management system market.
Market Developments
- In May 2023, ACUITY BRANDS, INC. successfully completed its acquisition of KE2 Therm Solutions, Inc. The industrial technology company integrated KE2 Therm, known for intelligent refrigeration control solutions, into Distech Controls within the Intelligent Spaces Group business segment. This move aimed to enhance system efficiency and reduce operational and service costs, contributing to improved profitability. This acquisition helped the company to increase product offerings and reach new customers in the commercial market
- In February 2022, Schneider Electric entered into a partnership with Nanjing Kisen to deliver next-generation, sustainable cement plants. This partnership promoted best-in-class, sustainable models for green cement production worldwide and helped the company provide customers with sustainable solutions
- In February 2022, Johnson Controls was selected as one of FORTUNE’s “World’s Most Admired Companies” in 2022. This was the first time Johnson Controls was named to the list. This recognition helped the company increase its customer base
- In January 2022, Delta Controls enteliWEB, web-based building management software, officially received BTL Certification. This certification helped the company gain customer trust and ensure quality
- In January 2020, IBM revolutionized workplaces with its AI breakthrough, "TRIRIGA," enhancing real estate and facility management. The innovation empowered professionals to optimize office space utilization, merging data from sources such as WIFI and IoT sensors. This transformative AI capability elevated workplace experiences, fostering engagement. This new development helped the company to tackle one of its most significant problems, which is managing its portfolio while fostering an atmosphere that attracts top talent, increases output, and strengthens its financial position
Regional Analysis
Geographically, the countries covered in the global building management system market report are U.S., Canada, Mexico, Germany, France, U.K., Italy, Turkey, Spain, Netherlands, Russia, Belgium, Switzerland, rest of Europe, China, Japan, South Korea, India, Australia, Singapore, Malaysia, Thailand, Philippines, Indonesia, rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Israel, Egypt, rest of Middle East and Africa, Brazil, Argentina, and rest of South America.
As per Data Bridge Market Research analysis:
Europe is expected to be the dominant region in the global building management system market
Europe is expected to dominate the market due to the rising adoption of automated security systems in commercial buildings in the region, and technological advancements in the region also enhance its dominance in the global market.
Asia-Pacific is estimated to be the fastest-growing region in the global building management system market
Asia-Pacific is expected to be the fastest-growing region due to its rapid urbanization and increasing demand for energy-efficient infrastructure. This growth is driven by a rising emphasis on smart building solutions and sustainable development initiatives.
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