Global Building Management System Market Size Study, by Component, by Operation Module, by Deployment, by Application, and Regional Forecasts 2022-2032

Description

The Global Building Management System (BMS) Market is valued approximately at USD 14.37 billion in 2023 and is anticipated to grow with a healthy growth rate of more than 13.00% over the forecast period 2024-2032. A building management system (BMS) represents an integrated control system that monitors and manages a building's mechanical, electrical, and plumbing (MEP) systems, including HVAC, lighting, power, fire safety, and security systems. The growing demand for energy-efficient and eco-friendly buildings, coupled with the necessity for automated building operations and maintenance, is driving market growth. The incorporation of cloud computing, IoT, analytics, and artificial intelligence further accelerates the development of BMS. Despite challenges such as cyber attack vulnerabilities, high implementation costs, and a shortage of technical expertise, the market is expected to expand due to emerging innovations in BMS, increasing investments in smart city projects, and the global rise in the number of airports.

The BMS market can be segmented into hardware, service, and software components. Hardware forms the backbone of BMS functionality, including sensors, controllers, and actuators that collect data and execute control commands. Services encompass installation, maintenance, and consultancy, ensuring the system's optimal performance. Software integrates the hardware components, providing a user interface for data analytics, report generation, and alarm management, thus facilitating energy conservation and efficient building operations. Each component plays a vital role in the system's overall effectiveness, with hardware acting as the operational base, services ensuring system optimization, and software driving intelligent decision-making.

Operation modules within BMS, such as electric power control, elevator systems, fire alarm and response, HVAC, lighting control, plumbing, and water monitoring, as well as security and surveillance systems, address various building management needs. These systems are critical in energy-centric areas like power control and HVAC, while safety-centric systems like fire alarms and security are indispensable across all buildings. Technological advancements, including AI and ML, are enhancing these modules, enabling predictive maintenance and energy savings.

Deployment methods for BMS include on-cloud and on-premise solutions. On-cloud solutions offer remote accessibility and reduced hardware requirements, while on-premise solutions provide greater control and security, suitable for organizations with stringent data protection needs. The choice of deployment depends on factors such as cost, scalability, customization, and security preferences.

BMS applications span commercial, industrial, and residential sectors. In commercial buildings, BMS prioritizes energy efficiency, cost reduction, and occupant comfort. Industrial applications focus on strict climate control and operational efficiency, while residential applications emphasize ease of use and lifestyle enhancements. The commercial sector often demands comprehensive integration of building operations, whereas the industrial sector values precision and reliability. Residential applications are driven by user-friendliness and personalization.

The regional insights reveal that North America, particularly the United States and Canada, leads the BMS market due to early technology adoption and stringent energy regulations. Europe, driven by strong regulatory frameworks and smart city initiatives, also demonstrates significant market maturity. The Asia-Pacific region, fueled by urbanization and smart city projects, shows high growth potential. The Middle East is emerging as a key market due to smart city developments, while Africa's market is growing due to urbanization and infrastructure development.

Major market players included in this report are:

Honeywell International Inc.
Johnson Controls International PLC
Siemens AG
Schneider Electric SE
ABB Limited
Mitsubishi Electric Corporation
Cisco Systems Inc.
Delta Controls Inc.
Lutron Electronics Co., Inc.
Acuity Brands, Inc.
Crestron Electronics, Inc.
Azbil Corporation
BuildingIQ, Inc.
BrainBox AI
Technovator International Limited

The detailed segments and sub-segment of the market are explained below:

By Component:

Hardware
Service
Software

By Operation Module:

Electric Power Control
Elevators
Fire Alarm & Response
HVAC
Lighting Control
Plumbing & Water Monitoring
Security & Observation

By Deployment:

On-Cloud
On-Premises

By Application:

Commercial
Industrial
Residential
Common content for 'Report Description' By Region: North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Middle East & Africa
Saudi Arabia
South Africa
RoMEA
Years considered for the study are as follows: Historical year - 2022 Base year - 2023 Forecast period - 2024 to 2032

Key Takeaways:

Market Estimates & Forecast for 10 years from 2022 to 2032.
Annualized revenues and regional level analysis for each market segment.
Detailed analysis of geographical landscape with Country level analysis of major regions.
Competitive landscape with information on major players in the market.
Analysis of key business strategies and recommendations on future market approach.
Analysis of competitive structure of the market.
Demand side and supply side analysis of the market.

Chapter 1. Global Building Management System Market Executive Summary

1.1. Global Building Management System Market Size & Forecast (2022-2032)
1.2. Regional Summary
1.3. Segmental Summary
- 1.3.1. By Component
- 1.3.2. By Operation Module
- 1.3.3. By Deployment
- 1.3.4. By Application
1.4. Key Trends
1.5. Recession Impact
1.6. Analyst Recommendation & Conclusion

Chapter 2. Global Building Management System Market Definition and Research Assumptions

2.1. Research Objective
2.2. Market Definition
2.3. Research Assumptions
- 2.3.1. Inclusion & Exclusion
- 2.3.2. Limitations
- 2.3.3. Supply Side Analysis
  - 2.3.3.1. Availability
  - 2.3.3.2. Infrastructure
  - 2.3.3.3. Regulatory Environment
  - 2.3.3.4. Market Competition
  - 2.3.3.5. Economic Viability (Consumer's Perspective)
- 2.3.4. Demand Side Analysis
  - 2.3.4.1. Regulatory frameworks
  - 2.3.4.2. Technological Advancements
  - 2.3.4.3. Environmental Considerations
  - 2.3.4.4. Consumer Awareness & Acceptance
2.4. Estimation Methodology
2.5. Years Considered for the Study
2.6. Currency Conversion Rates

Chapter 3. Global Building Management System Market Dynamics

3.1. Market Drivers
- 3.1.1. Rising Demand for Energy-Efficient Buildings
- 3.1.2. Growing Adoption of IoT and Cloud Computing
- 3.1.3. Increasing Investments in Smart City Projects
3.2. Market Challenges
- 3.2.1. High Implementation Costs
- 3.2.2. Vulnerability to Cyber Attacks
- 3.2.3. Lack of Expertise and Technical Knowledge
3.3. Market Opportunities
- 3.3.1. Technological Advancements in BMS
- 3.3.2. Emerging Markets in Developing Countries
- 3.3.3. Increasing Number of Airports and Commercial Buildings

Chapter 4. Global Building Management System Market Industry Analysis

4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.1.6. Futuristic Approach to Porter's 5 Force Model
- 4.1.7. Porter's 5 Force Impact Analysis
4.2. PESTEL Analysis
- 4.2.1. Political
- 4.2.2. Economical
- 4.2.3. Social
- 4.2.4. Technological
- 4.2.5. Environmental
- 4.2.6. Legal
4.3. Top Investment Opportunity
4.4. Top Winning Strategies
4.5. Disruptive Trends
4.6. Industry Expert Perspective
4.7. Analyst Recommendation & Conclusion

Chapter 5. Global Building Management System Market Size & Forecasts by Component 2022-2032

5.1. Segment Dashboard
5.2. Global Building Management System Market: Component Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 5.2.1. Hardware
- 5.2.2. Service
- 5.2.3. Software

Chapter 6. Global Building Management System Market Size & Forecasts by Operation Module 2022-2032

6.1. Segment Dashboard
6.2. Global Building Management System Market: Operation Module Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 6.2.1. Electric Power Control
- 6.2.2. Elevators
- 6.2.3. Fire Alarm & Response
- 6.2.4. HVAC
- 6.2.5. Lighting Control
- 6.2.6. Plumbing & Water Monitoring
- 6.2.7. Security & Observation

Chapter 7. Global Building Management System Market Size & Forecasts by Deployment 2022-2032

7.1. Segment Dashboard
7.2. Global Building Management System Market: Deployment Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 7.2.1. On-Cloud
- 7.2.2. On-Premises

Chapter 8. Global Building Management System Market Size & Forecasts by Application 2022-2032

8.1. Segment Dashboard
8.2. Global Building Management System Market: Application Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 8.2.1. Commercial
- 8.2.2. Industrial
- 8.2.3. Residential

Chapter 9. Global Building Management System Market Size & Forecasts by Region 2022-2032

9.1. North America Building Management System Market
- 9.1.1. U.S. Building Management System Market
  - 9.1.1.1. Component breakdown size & forecasts, 2022-2032
  - 9.1.1.2. Operation Module breakdown size & forecasts, 2022-2032
- 9.1.2. Canada Building Management System Market
9.2. Europe Building Management System Market
- 9.2.1. U.K. Building Management System Market
- 9.2.2. Germany Building Management System Market
- 9.2.3. France Building Management System Market
- 9.2.4. Spain Building Management System Market
- 9.2.5. Italy Building Management System Market
- 9.2.6. Rest of Europe Building Management System Market
9.3. Asia-Pacific Building Management System Market
- 9.3.1. China Building Management System Market
- 9.3.2. India Building Management System Market
- 9.3.3. Japan Building Management System Market
- 9.3.4. Australia Building Management System Market
- 9.3.5. South Korea Building Management System Market
- 9.3.6. Rest of Asia Pacific Building Management System Market
9.4. Latin America Building Management System Market
- 9.4.1. Brazil Building Management System Market
- 9.4.2. Mexico Building Management System Market
- 9.4.3. Rest of Latin America Building Management System Market
9.5. Middle East & Africa Building Management System Market
- 9.5.1. Saudi Arabia Building Management System Market
- 9.5.2. South Africa Building Management System Market
- 9.5.3. Rest of Middle East & Africa Building Management System Market

Chapter 10. Competitive Intelligence

10.1. Key Company SWOT Analysis
10.2. Top Market Strategies
10.3. Company Profiles
- 10.3.1. ABB Limited
  - 10.3.1.1. Key Information
  - 10.3.1.2. Overview
  - 10.3.1.3. Financial (Subject to Data Availability)
  - 10.3.1.4. Product Summary
  - 10.3.1.5. Market Strategies
- 10.3.2. Acuity Brands, Inc.
- 10.3.3. Airedale International Air Conditioning Ltd.
- 10.3.4. Arloid Automation Ltd.
- 10.3.5. Azbil Corporation
- 10.3.6. BrainBox AI
- 10.3.7. BuildingIQ, Inc.
- 10.3.8. Cisco Systems Inc.
- 10.3.9. Crestron Electronics, Inc.
- 10.3.10. Delta Controls Inc.

Chapter 11. Research Process

11.1. Research Process
- 11.1.1. Data Mining
- 11.1.2. Analysis
- 11.1.3. Market Estimation
- 11.1.4. Validation
- 11.1.5. Publishing
11.2. Research Attributes