Scope of the Study
Building management software is designed to understand the real-time condition of a building and collect & analyze data using various technologies and software which is highly efficient in providing insights to improve the building efficiency and productivity. Moreover, it is also controlling and monitoring various parameters of a building such as security systems, infrastructure, energy and other systems. The key purpose of building management software is to monitor and inspect failures, performance and provide breakdown alerts, in order to maintain the building efficiency.
The market study is being classified by Type (Facility Management Software, Security Management Software, Energy Management Software, Infrastructure Management Software and Emergency Management Software), by Application (Residential, Commercial and Industrial) and major geographies with country level break-up. According to AMA, the Global Building Management Software market is expected to see growth rate of 10.7% and may see market size of USD1.8 Billion by 2024.
Johnson Controls International PLC (Ireland), Honeywell International Inc. (United States), Siemens AG (Germany), Schneider Electric SE (France), United Technologies Corp. (United States), IBM Corporation (United States), Ingersoll-Rand PLC (Republic of Ireland), Delta Controls (Canada), Crestron Electronics Inc. (United States) and Buildingiq Inc. (United States) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Lucid (United States), Distech Controls Inc. (Canada) and Gridpoint (United States).
Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Building Management Software market throughout the predicted period.
AdvanceMarketAnalytics has segmented the market of Global Building Management Software market by Type, Application and Region.
On the basis of geography, the market of Building Management Software has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Deployment Type, the sub-segment i.e. On Premises will boost the Building Management Software market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Service Type, the sub-segment i.e. Professional Services will boost the Building Management Software market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- The Growing Need for Eco-Friendly Technologies and Ability to Reduce the Operational Costs
- Increasing Awareness of Property Management Software
- Time-Consuming and Prone to Human Error Which is Encouraging the Adoption of Building Management Software
- Rise in Infrastructure Development Across the World
- The Increasing Adoption of the Internet of Things in Building Automation
- Cyber Security Risks Including Malware Attacks, Threats of Viruses and Worms
- Increasing Vulnerabilities in Cloud-Based Solutions
- Increasing Gradation of the Safety and Security Systems
- The High Initial Cost of Building Management Software
- Lack of Skilled Maintenance Human Resource in Developing Economies
Key Target AudienceSystem Design & Development Vendors, System Integrators/Migration Service Providers, Support & Maintenance Service Providers, Network Service Providers, Smart Building Product & Solution Provider Companies and Government Associations
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Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
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