About LonWorks Building Management System
LonWorks building management systems are software-based building control systems that track and control the building's mechanical and electrical devices including fire systems, security systems, lighting, power system, and ventilation. Management systems for building are composed of software and hardware. The tendency of these systems is surging preference for eco-friendly, energy-efficient, and demand for automation for a security system in buildings. This has led to significant growth of the global LonWorks building management system market during the forecast period.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that European and United States Players will contribute the maximum growth to Global LonWorks Building Management System market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Honeywell International Inc (United States), Johnson Controls (Ireland), Siemens (Germany), Schneider Electric (France), Trane Technologies Inc. (Ireland), Azbil Corporation (Japan), Beckhoff (Germany), Airedale International Air Conditioning Ltd (United Kingdom), ASI Controls (United States) and Cylon Controls (Ireland) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are DEOS AG (Germany), KMC Controls (United States), Fidelix (Finland) and Others.
Segmentation Overview
AMA Research has segmented the market of Global LonWorks Building Management System market by Type (Software and Hardware), Application (Heating, Climate, and Ventilation Control, Light Control, Shade Control, Security and Energy Management) and Region.
On the basis of geography, the market of LonWorks Building Management System 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 End User, the sub-segment i.e. Leisure & Hotel will boost the LonWorks Building Management System market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Emergence of New Technology like IoT and Smart Buildings
Market Growth Drivers:
Increasing Building Construction across the Globe and Rising Demand for LonWorks Building Management System among Commercial End-user due to Degree of Flexibility and Energy Savings
Challenges:
Availability of Alternative Systems
Restraints:
High Cost Associated with LonWorks Building Management System
Opportunities:
Increasing Demand From Developing Economies
Market Leaders and their expansionary development strategies
In January 2019, Adesto Technologies Corporation, a leading provider of innovative application-specific semiconductors and embedded systems for the IoT era, announces that the new ANSI/CTA 709.7 LON IP protocol, recently approved by the American National Standards Institute (ANSI), will speed further adoption of LON technology and continue to expand the LonWorks ecosystem. The new standard enables native LON communication over any IP transport such as Ethernet and Wi-Fi, as well as interoperability with IP-based web services so that building and industrial automation systems can seamlessly and securely interoperate with cloud and IoT applications.
In September 2022, LonMark International (LMI) announced its new vision to build a world that is safer, more sustainable and interoperable while ensuring an economically positive outcome for all stakeholders. Building on its existing roots, LMI will create a global ecosystem that develops, interprets, and applies standards, regulations, education, and innovation to enable smooth interactions between control networks, buildings, devices, and people by creating a protocol inclusive platform for Interoperability.
Key Target Audience
LonWorks Building Management System Providers, Research Organizations and Consulting Companies, Potential Technology Investors, Regulatory & Government Bodies, Downstream Vendors, End Users and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.