DUBLIN--(BUSINESS WIRE)--The "Global Building Management System Market by Component, Operation Module, Deployment, Application - Cumulative Impact of COVID-19, Russia Ukraine Conflict, and High Inflation - Forecast 2023-2030" report has been added to ResearchAndMarkets.com's offering.
The Global Building Management System Market size was estimated at USD 12.73 billion in 2022, USD 14.37 billion in 2023, and is projected to grow at a Compound Annual Growth Rate (CAGR) of 12.98% to reach USD 33.83 billion by 2030.
The Cumulative Impact of COVID-19, the Russia-Ukraine Conflict, and High Inflation is expected to have significant long-term effects on the Global Building Management System Market.
The ongoing research considers the changes in consumer behavior, supply chain disruptions, and government interventions caused by the pandemic. Similarly, the report considers the ongoing political and economic uncertainty in Eastern Europe caused by the Russia-Ukraine Conflict and its potential implications for demand-supply balances, pressure on pricing variants, and import/export and trading.
Additionally, the report addresses the impact of High Inflation on the global economy and details fiscal policies measuring and reducing its effects on demand, supply, cash flow, and currency exchange.
Market Segmentation & Coverage:
This research report categorizes the Global Building Management System Market in order to forecast the revenues and analyze trends in each of following sub-markets:
- Based on Component, the market is studied across Hardware, Service, and Software. The Software commanded largest market share of 41.23% in 2022, followed by Hardware.
- Based on Operation Module, the market is studied across Electric Power Control, Elevators, Fire Alarm & Response, HVAC, Lighting Control, Plumbing & Water Monitoring, and Security & Observation. The Security & Observation commanded largest market share of 22.12% in 2022, followed by Electric Power Control.
- Based on Deployment, the market is studied across On-Cloud and On-Premise. The On-Cloud commanded largest market share of 87.88% in 2022, followed by On-Premise.
- Based on Application, the market is studied across Commercial, Industrial, and Residential. The Commercial commanded largest market share of 65.54% in 2022, followed by Residential.
- Based on Region, the market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. Europe, Middle East & Africa commanded largest market share of 49.12% in 2022, followed by Americas.
Market Dynamics
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
Restraints
- BMS Vulnerability to Cyber Attacks and High Implementation Costs
Opportunities
- New Developments in Building Management Systems
- Rising Investment in Smart Cities Projects and Increasing Number of Airports Globally
Challenges
- Lack of Expertise and Technical Knowledge in BMS
Market Statistics:
The report provides market sizing and forecasts across 7 major currencies - USD, EUR, JPY, GBP, AUD, CAD, and CHF; multiple currency support helps organization leaders to make well-informed decisions. In this report, 2018 to 2021 are considered as historical years, 2022 is base year, 2023 is estimated year, and years from 2024 to 2030 are considered as forecast period.
FPNV Positioning Matrix:
The FPNV Positioning Matrix is essential for assessing the Global Building Management System Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).
Market Share Analysis:
The Market Share Analysis offers an insightful look at the current state of vendors in a particular market space. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.
Companies Mentioned
- 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
- Optergy
- Schneider Electric SE
- Siemens AG
- Singapore Technologies Engineering Ltd.
- Symmons Inc.
- Technovator International Limited
For more information about this report visit https://www.researchandmarkets.com/r/avdrps
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