Global Building Management System Market - Industry Trends and Forecast to 2031
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.
Market SegmentationGlobal Building Management System Market, By 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), Country (Germany, France, U.K., Italy, Turkey, Spain, Netherlands, Russia, Belgium, Switzerland, Rest of Europe, U.S., Canada, Mexico, 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) - Industry Trends and Forecast to 2031
Overview of Global Building Management System Market Dynamics
Driver• Rising adoption of automated security systems in commercial buildings
Restraint• High maintenance cost of building automation systems
Opportunity • Shifting consumer’s preference towards HVAC control systems
Market PlayersSome of the major market players operating in the global building management system market are:• Johnson Controls
• Schneider Electric
• Siemens
• Hangzhou Hikvision Digital Technology Co., Ltd.
• Honeywell International Inc.
• Trane Technologies plc
• IBM
• Convergint Technologies LLC
• Veolia
• Delta Controls
• ACUITY BRANDS, INC.
• Snap One, LLC
• Virtusa Corp.
• Crestron Electronics
• Beckhoff Automation GmbH & Co. KG
• Bajaj Electricals Ltd
• GridPoint
• UNIPOWER
• Novius Services
• Elipse Software
• BuildingIQ
• Axonator Inc