Global Building management system market is expected to growing with an attractive CAGR of 16.71% during 2016 – 2023
There are many of the major drivers which enhancing the global building management system Market such as increasing need for automation of security systems in building, Development of Building Automation-Centric Wireless Protocols and Wireless Sensor Network Technology, development of IOT in building automation system, upsurge in demand for energy-efficient systems, increasing use of smartphones in building automation.
Moreover, favorable government initiatives and incentives and technological advancement is the upcoming opportunities which will help to grow the building management system market. Apart from this, due to increasing technical difficulty and lack of skilled experts & due to high cost of implementation is the major factors which hampering the overall growth of the market.
Europe is accounted to be the largest market share for Building Management systems due to due to the adoption of government initiatives, operational efficiency, changing business dynamic, sustainability advantages and supportive regulatory compliances which strengthen the overall market of the building management system and also helps to increase the penetration of system integration and deployment services. On the other side, Europe is the fastest growing region due to increasing smart-phone connectivity in building automation and upsurge in demand for energy-efficient systems.
There are many of the key manufacturing companies are engaged in ABB Ltd., AT&T Inc., BOSCH Security, Cisco, Honeywell International Inc., Hubbell Inc., Johnson controls international plc., Robert BOSCH GMBH, SIEMENS AG, and United technologies corp.
Rising Need for the Automation of Security Systems in Buildings Enhanced Infrastructure Growth in the Technologically Advancing Countries Development of Iot in Building Automation System Upsurge in Demand for Energy-Efficient Systems Growing Use of Smartphones in Building Automation
Technical Difficulties And Lack of Skilled Experts High Cost of Implementation
Advancement in Technology Favorable Government Initiatives And Incentives
Presence of Different Communication Protocols
Key Topics Covered:
2. Market Overview
3. Market Determinants
4. Market Segmentation
5. Competitive Landscape
6. Geographical Analysis
7. Company Profiles
ABB Ltd. AT&T Inc. Bosch Security Cisco Crestron Electronics, Inc Honeywell International Inc. Hubbell Inc. Ingersoll-Rand Plc Johnson Controls International Plc Legrand Sa Lutron Electronics Co., Inc. Robert Bosch Gmbh Schneider Electric Se Siemens Ag. United Technologies Corp.
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