The global Integrated Building Management Systems market is quite competitive and comprise various key players operating at regional and global level, according to a recent report published by Reports and Data (RND). Cisco, Honeywell, Johnson Controls, Schneider Electric, United Technologies, Bosch Security, BuildingLogiX, Siemens and Bajaj Electricals are some of the top players operating in the global market. These players are focusing on developing various strategies such as mergers and acquisitions, partnerships, joint ventures, investments in research and development activities and partnerships to strengthen their market position and enhance their product base.
The global Integrated Building Management Systems Market size was significantly robust in 2020 and is expected to register a steady revenue CAGR over the forecast period. Key factors providing impetus to market revenue growth are the increased use of IBMS due to ease of monitoring and controlling building operations in end-user industries. Key players are focusing on integrating technology into their products with the introduction of the Internet of Things (IoT). Artificial intelligence (AI) and Big Data will be supported by IoT-enabled gadgets. IoT-enabled IBMSs are expected to provide greater connectivity, improved productivity, and significant comfort to building occupants, thus driving the growth of Integrated Building Management Systems Market.
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Based on application type, the application 1 is expected to account for robust revenue growth over the forecast period owing to increasing number of threats and cybersecurity in healthcare sector and rising application of ICT.
Geographically, the global Integrated Building Management Systems market in North America is expected to account for largest revenue share over the forecast period. Factors such as increasing investments in research and development activities, rising adoption of smart devices, laptops, presence of dominant market players, rising risks of data leakage and security, high adoption of cloud services are key factors fueling growth of Integrated Building Management Systems market in North America.
Integrated Building Management Systems Market Segmentation:
Type Outlook (Revenue, USD Billion; 2018-2028)
- Hardware
- Software
- Services
Application Outlook (Revenue, USD Billion; 2018-2028)
- Commercial Building
- Government Building
- Residential Building
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Region Outlook (Revenue, USD Billion; 2018-2028)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East Africa
Key questions addressed in the Report:
- Which key factors are expected to hamper global market growth during the forecast period?
- Which application segment revenue is expected to expand at a rapid CAGR between 2021 and 2028?
- Which regional segment is expected to account for largest revenue share over the forecast period?
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