Building Management System Market by Component, Operation Module, Deployment, Application

Description

List of Tables

[187 Pages Report] The Building Management System Market size was estimated at USD 14.37 billion in 2023 and expected to reach USD 16.23 billion in 2024, at a CAGR 13.00% to reach USD 33.83 billion by 2030.

A building management system (BMS) is a comprehensive control system installed in buildings to monitor and manage mechanical and electrical equipment, including ventilation, lighting, power systems, fire systems, and security systems. The building management systems (BMS) market encompasses the software, hardware, and services involved in the automation and management of building facilities. The rise in demand for energy-efficient and eco-friendly buildings and the need for automated building operation and maintenance are driving the market growth. Moreover, the integration of cloud computing, IoT, analytics, and artificial intelligence also fuels market development. BMS vulnerability to cyber attacks, high implementation costs, and lack of expertise and technical knowledge in BMS might restrict the market growth. New developments in building management systems, rising investment in smart city projects, and increasing the number of airports globally are expected to accelerate the need for sophisticated building management.

KEY MARKET STATISTICS
Base Year [2023]	USD 14.37 billion
Estimated Year [2024]	USD 16.23 billion
Forecast Year [2030]	USD 33.83 billion
CAGR (%)	13.00%

Regional Insights

The United States and Canada present a mature building management market due to the early adoption of technology and stringent regulatory policies for energy efficiency. The presence of major BMS providers, such as Honeywell, Johnson Controls, and Siemens, drives innovation and competition within the region. Smart city initiatives and the enhanced focus on reducing carbon footprint further augment the market's growth. South American countries are gradually adopting BMS, spurred by increasing urbanization and industrial development. The Asia-Pacific region is experiencing significant development in the BMS market, spurred by the booming real estate industry, raising awareness about energy conservation, and governmental support in countries such as China, Japan, India, and South Korea. The region shows a high potential for adopting IoT and AI in building management systems due to the concentration of technology companies and increasing investments in smart city projects. Emerging economies are experiencing a surge in demand for energy-efficient infrastructure, creating numerous opportunities for the BMS market expansion. The EMEA region demonstrates a diverse market scenario, with Europe leading in BMS adoption due to its strong regulations on energy use and greenhouse gas emissions, particularly enforced by the European Union's directives. The market is characterized by a high demand for retrofitting and upgrading existing buildings with advanced BMS solutions. The Middle East, shows a significant growth potential due to the ongoing development of smart cities, particularly in the Gulf Cooperation Council (GCC) countries, driven by the necessity to optimize energy consumption amidst extreme climate conditions. Africa is an emerging BMS market, where economic constraints limit growth but show promise due to infrastructure development and urbanization.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Building Management System Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers
- Surge in the Demand for Energy-Efficient and Eco-Friendly Buildings
- Need for Automated Building Operation and Maintenance
- Integration of Cloud Computing, IoT, Analytics, and Artificial Intelligence

Market Restraints
- BMS Vulnerability to Cyber Attacks and High Implementation Costs

Market Opportunities
- New Developments in Building Management Systems
- Rising Investment in Smart Cities Projects and Increasing Number of Airports Globally

Market Challenges
- Lack of Expertise and Technical Knowledge in BMS

Market Segmentation Analysis
- Component: Growing demand for advanced building management system softwares to enhance operational efficiency
- Operation Module: Rising preferences for advanced fire safety systems, with nuances in scale and integration depending on building size and use
- Deployment: Significant demand for on-cloud BMS owing to lower upfront costs
- Application: Wider usage smarter building management system in the commercial sector

Market Disruption Analysis
Porter's Five Forces Analysis
Value Chain & Critical Path Analysis
Pricing Analysis
Technology Analysis
Patent Analysis
Trade Analysis
Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Building Management System Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Building Management System Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

Johnson Controls buys FM:Systems to expand digital building capabilities

Johnson Controls International PLC acquired FM: Systems from Accel-KKR for a base price of USD 455 million, with potential additional payments based on future earnout milestones. This move aims to enhance Johnson Controls' OpenBlue platform by introducing advanced office dynamics solutions and expanded net-zero building capabilities. [Published On: 2023-07-18]

75F unveils its new range of Building Automation System products and solutions

75F, Inc. introduced an array of cutting-edge IoT-based products such as the Chiller Plant Manager for water-cooled systems optimization, Occupancy Temperature Node with precision sensors, True CFM for airflow measurement, HyperStat for enhanced indoor air quality (IAQ) management, and the Helio Node for integrated temperature and lighting control. Emphasizing energy conservation, 75F's pioneering systems promise to reduce energy intake by 15-30% significantly, propelling the industry towards net-zero emissions while enhancing occupant comfort and reducing installation timeframes. [Published On: 2023-04-04]

Honeywell partners with Analog devices to drive building automation

Honeywell International Inc. collaborated with Analog Devices, Inc. by signing a Memorandum of Understanding (MoU) to advance building automation solutions. Through this partnership, both corporations aim to leverage their strengths in hardware and software innovations to transform building management systems with cutting-edge digital technologies. [Published On: 2023-01-11]

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Building Management System Market. This critical assessment involves a thorough analysis of the organization's resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Building Management System Market, highlighting leading vendors and their innovative profiles. These include ABB Limited, Acuity Brands, Inc., Airedale International Air Conditioning Ltd., Arloid Automation Ltd., Azbil Corporation, BrainBox AI, BuildingIQ, Inc., Cisco Systems Inc., Crestron Electronics, Inc., Delta Controls Inc., Delta Electronics, Inc., DEXMA Sensors, SL, Elipse Software, ELKO EP, s.r.o., Entelec Control Systems, GridPoint, Inc., Honeywell International Inc., International Business Machines Corporation, Johnson Controls International PLC, Kellton Tech Solutions Limited, Lutron Electronics Co., Inc., Mitsubishi Electric Corporation, Myrspoven AB, Optergy, Schneider Electric SE, Siemens AG, Singapore Technologies Engineering Ltd., Symmons Inc., and Technovator International Limited.

Market Segmentation & Coverage

This research report categorizes the Building Management System Market to forecast the revenues and analyze trends in each of the following sub-markets:

Component
- Hardware
- Service
- Software

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

Deployment
- On-Cloud
- On-Premise

Application
- Commercial
- Industrial
- Residential

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

Product Code: MRR-0364249570B9

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Surge in the Demand for Energy-Efficient and Eco-Friendly Buildings
  - 5.1.1.2. Need for Automated Building Operation and Maintenance
  - 5.1.1.3. Integration of Cloud Computing, IoT, Analytics, and Artificial Intelligence
- 5.1.2. Restraints
  - 5.1.2.1. BMS Vulnerability to Cyber Attacks and High Implementation Costs
- 5.1.3. Opportunities
  - 5.1.3.1. New Developments in Building Management Systems
  - 5.1.3.2. Rising Investment in Smart Cities Projects and Increasing Number of Airports Globally
- 5.1.4. Challenges
  - 5.1.4.1. Lack of Expertise and Technical Knowledge in BMS
5.2. Market Segmentation Analysis
- 5.2.1. Component: Growing demand for advanced building management system softwares to enhance operational efficiency
- 5.2.2. Operation Module: Rising preferences for advanced fire safety systems, with nuances in scale and integration depending on building size and use
- 5.2.3. Deployment: Significant demand for on-cloud BMS owing to lower upfront costs
- 5.2.4. Application: Wider usage smarter building management system in the commercial sector
5.3. Market Trend Analysis
5.4. Cumulative Impact of Russia-Ukraine Conflict
5.5. Cumulative Impact of High Inflation
5.6. Porter's Five Forces Analysis
- 5.6.1. Threat of New Entrants
- 5.6.2. Threat of Substitutes
- 5.6.3. Bargaining Power of Customers
- 5.6.4. Bargaining Power of Suppliers
- 5.6.5. Industry Rivalry
5.7. Value Chain & Critical Path Analysis
5.8. Regulatory Framework Analysis
5.9. Client Customization

6. Building Management System Market, by Component

6.1. Introduction
6.2. Hardware
6.3. Service
6.4. Software

7. Building Management System Market, by Operation Module

7.1. Introduction
7.2. Electric Power Control
7.3. Elevators
7.4. Fire Alarm & Response
7.5. HVAC
7.6. Lighting Control
7.7. Plumbing & Water Monitoring
7.8. Security & Observation

8. Building Management System Market, by Deployment

8.1. Introduction
8.2. On-Cloud
8.3. On-Premise

9. Building Management System Market, by Application

9.1. Introduction
9.2. Commercial
9.3. Industrial
9.4. Residential

10. Americas Building Management System Market

10.1. Introduction
10.2. Argentina
10.3. Brazil
10.4. Canada
10.5. Mexico
10.6. United States

11. Asia-Pacific Building Management System Market

11.1. Introduction
11.2. Australia
11.3. China
11.4. India
11.5. Indonesia
11.6. Japan
11.7. Malaysia
11.8. Philippines
11.9. Singapore
11.10. South Korea
11.11. Taiwan
11.12. Thailand
11.13. Vietnam

12. Europe, Middle East & Africa Building Management System Market

12.1. Introduction
12.2. Denmark
12.3. Egypt
12.4. Finland
12.5. France
12.6. Germany
12.7. Israel
12.8. Italy
12.9. Netherlands
12.10. Nigeria
12.11. Norway
12.12. Poland
12.13. Qatar
12.14. Russia
12.15. Saudi Arabia
12.16. South Africa
12.17. Spain
12.18. Sweden
12.19. Switzerland
12.20. Turkey
12.21. United Arab Emirates
12.22. United Kingdom

13. Competitive Landscape

13.1. Market Share Analysis, 2023
13.2. FPNV Positioning Matrix, 2023
13.3. Competitive Scenario Analysis
- 13.3.1. Johnson Controls buys FM:Systems to expand digital building capabilities
- 13.3.2. 75F unveils its new range of Building Automation System products and solutions
- 13.3.3. Honeywell partners with Analog devices to drive building automation

14. Competitive Portfolio

14.1. Key Company Profiles
14.2. Key Product Portfolio