Intelligent Building Management Systems Market Size, Share, Growth, and Industry Analysis, By Type (General Lighting Controls, Communication Systems, Security Controls, Access Controls, HVAC Controls, Entertainment Controls, Outdoor Controls and Others), By Application (Commercial Buildings, Residential Buildings and Government Buildings), Regional Forecast to 2028

Updated On: 20 November 2023

REPORT OVERVIEW

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The global intelligent building management systems market size was USD 0.498 billion in 2022. The global COVID-19 pandemic has been unprecedented and staggering, with intelligent building management systems market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. As per our research, the market is expected to reach USD 1.411 billion in 2029, exhibiting a CAGR of 15.9% during the forecast period. The sudden decline in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

Building Automation Systems (BAS), Building Management Systems (BMS), and Intelligent Building Management Systems (IBMS) are all terms for integrated systems created to manage and control numerous building activities and services. These systems automate and optimize building operations through the use of cutting-edge technologies, improving productivity, comfort, safety, and sustainability. Heat, Ventilation, and Air Conditioning (HVAC): controls and keeps an eye on the building's temperature, humidity, and air quality.

 Lighting Control: Controls lighting intensity, occupancy detection, and daylighting to reduce energy use while maintaining proper illumination levels. controls entry to the structure and keeps an eye on security features including cameras, fire alarms, and intrusion detection.

oversees the escalators and lifts so that people can move across the building efficiently. This includes scheduling, operating, and maintaining them. analyses building performance, finds inefficiencies, and provides actionable insights for continual improvement using data analytics and machine learning algorithms. To further enhance operations, IBMS may interact with other building systems like occupancy management systems, smart grid technology, and renewable energy sources.

COVID-19 Impact: Decline in Economy Due to Lockdown to Hinder Market growth

The Intelligent Building Management Systems (IBMS) are among the many facets of society that have been significantly impacted by the Covid-19 epidemic. Buildings needed to control and monitor occupancy levels in order to comply with capacity constraints when social distancing measures were in place. In order to restrict how many individuals can enter a space, IBMS was essential for monitoring occupancy using sensors and integrating with access control systems. In order to prevent the spread of viruses and improve the health of residents, COVID-19 emphasized the significance of maintaining appropriate indoor air quality. In order to improve interior air quality and slow the transmission of the virus, IBMS assisted in monitoring and controlling ventilation systems and modifying airflows and filtration rates.

LATEST TRENDS

"Intelligent And Automated Control of Building to Augment Market Growth"

The Internet of Things is crucial to IBMS. IoT integration offers real-time data collecting and analysis, enabling more intelligent and automated control of building operations by integrating numerous devices, sensors, and systems within a building. Advanced building analytics are made possible by the combination of data analytics and artificial intelligence (AI) technology. IBMS can recognise patterns, optimise energy use, anticipate maintenance requirements, and deliver actionable insights for improved building performance by utilising machine learning algorithms and predictive analytics. Edge computing reduces latency and enables real-time analysis and decision-making within the IBMS by bringing processing power and data storage closer to the data source. This enables quicker response times, higher cybersecurity, and better system performance.

SEGMENTATION

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• By Type

Based on type market is classified as general lighting controls, communication systems, security controls, access controls, HVAC controls, entertainment controls, outdoor controls and others.

• By Application

Based on application market is classified as commercial buildings, residential buildings and government buildings.

DRIVING FACTORS

"Demand For Sustainable and Energy-Efficient Buildings to Propel Market Growth"

The demand for sustainable and energy-efficient buildings is a major motivator for IBMS. IBMS can aid in lowering environmental impact and achieving sustainability goals by optimising energy use, monitoring and regulating systems, and incorporating renewable energy sources. By maximising energy consumption, streamlining operations, and enhancing maintenance procedures, IBMS presents prospects for cost savings. IBMS can increase operational efficiency and save operational costs by automating operations, spotting inefficiencies, and offering data-driven insights. Environmental and Regulatory Standards: The adoption of IBMS is heavily influenced by governmental rules and environmental requirements. Building owners and operators are being compelled to invest in intelligent systems to achieve compliance and certification criteria by increasingly strict building regulations and energy efficiency requirements.

"Improved Tenant Comfort"" to Enhance Market Growth"

Buildings that offer improved tenant comfort, convenience, and productivity are becoming more and more in demand. The IBMS lays the groundwork for developing intelligent environments, integrating multiple building systems, and facilitating smooth device connection. Adoption of IBMS is now driven by the emphasis on occupant experience and well-being. IBMS helps to create healthier and more enjoyable environments for building occupants by offering customised settings, maximising indoor air quality, and improving occupant comfort. The adoption of IBMS is driven by safety and security concerns. IBMS offers integrated security systems, fire detection and suppression, access control, and emergency response capabilities that serve to secure people inside buildings and their property.

RESTRAINING FACTORS

"Investment in IBMS to Impede Market Expansion"

For many building owners and operators, the upfront cost of deploying IBMS might be a substantial obstacle. Investment in IBMS may be discouraged by the costs involved with acquiring and installing the required hardware, software, and sensors, as well as by the expenses of integration and customization. Adoption may be slowed by a lack of knowledge about IBMS and its potential advantages. It's possible that building owners and managers are ignorant about the technology, its capabilities, and the benefits it can provide for their structures. Integration and Complexity Challenges: It can be difficult and complex to integrate several systems and technologies, which is what IBMS entails. Implementation delays and cost increases can be caused by compatibility problems with current systems, the requirement for customisation, and the difficulty of integrating various systems from various vendors.

REGIONAL INSIGHTS

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"North America to Dominate the Market Due to Cutting-Edge Infrastructure"

Due to the presence of cutting-edge infrastructure and an emphasis on sustainability and energy efficiency, North America has been a mature and significant market for BMS.BMS are in high demand in the US and Canada due to policies, rules, and incentives from the government that support green structures. The market is characterised by the use of cutting-edge technologies in BMS systems, including IoT, data analytics, and cloud computing. Energy optimisation, operational effectiveness, and the demand for smart and connected buildings are some of the variables that influence the demand for BMS.BMS adoption is being encouraged in the area by government programmes and incentives aiming at enhancing energy efficiency and lowering carbon emissions. The industry is distinguished by the presence of both regional and global BMS suppliers, providing a range of solutions to cater to different building types and sizes.

KEY INDUSTRY PLAYERS

"Key Players Focus on Partnerships to Gain a Competitive Advantage"

Prominent market players of intelligent building management systems market are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

List of Market Players Profiled

• Siemens Building Technology (U.S.)
• Honeywell Automation (U.S.)
• Johnson Controls (U.S.)
• Control4 Corporation (U.S.)
• Crestron Electronics (U.S.)
• ADT Corporation (U.S.)
• Legrand (U.S.)

REPORT COVERAGE

The intelligent building management systems market report anticipates a detailed analysis of the global market size at the regional and national level, the ssegmentation market growth and market share. The prime objective of the report is to help user understand the market in terms of definition, market potential, influencing trends, and the challenges faced by the market. Aanalysis of sales, the impact of the market players, recent developments, opportunity analysis, strategic market growth analysis, territorial market expansion, and technological innovations are the subject matter explained in the report.