Building Management Software Market Scope
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.
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 2026.
Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Building Management Software market throughout the predicted period.
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 that are part of study coverage. Additionally, the Players which are also part of the research are Lucid (United States), Distech Controls Inc. (Canada) and Gridpoint (United States).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
Segmentation Overview
The study have segmented the market of Global Building Management Software market 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 Region with country level break-up.
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).
Market Trend
- The Increasing Adoption of the Internet of Things in Building Automation
Market Drivers
- 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
Opportunities
- Increasing Gradation of the Safety and Security Systems
Restraints
- Cyber Security Risks Including Malware Attacks, Threats of Viruses and Worms
- Increasing Vulnerabilities in Cloud-Based Solutions
Challenges
- The High Initial Cost of Building Management Software
- Lack of Skilled Maintenance Human Resource in Developing Economies
Key Target Audience
System Design & Development Vendors, System Integrators/Migration Service Providers, Support & Maintenance Service Providers, Network Service Providers, Smart Building Product & Solution Provider Companies and Government Associations