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Building Management System Market Worth 19.25 Billion USD by 2023PUNE, India, June 28, 2017 /PRNewswire/ -- According to the new market research report on the "Building Management System Market by Software (Facility, Security, Energy, Emergency, Infrastructure Management), Service (Professional, Managed), Application (Residential, Commercial, Industrial), and Geography - Global Forecast to 2023", published by MarketsandMarkets™, the building management system market is expected to be worth USD 19.25 Billion by 2023, growing at a CAGR of 16.71% between 2017 and 2023. (Logo: http://photos.prnewswire.com/prnh/20160303/792302 )
Major factors driving the building management system market are the significant cost benefits to the industrial, commercial, and residential users, simplified building operations and maintenance, and increasing demand for energy-efficient and eco-friendly buildings. Facility management software to hold the largest share of the building management system market The facility management software held a major share of the BMS market based on software in 2016. The large market share is due to the need for cost saving from effective management of HVAC and lighting systems in the building. As these system consume the highest power in the building, its efficient management can result in significant cost saving. Download PDF Brochure : http://www.marketsandmarkets.com/pdfdownload.asp?id=28089524 Managed services expected to grow at the highest rate between 2017 and 2023 The market for the managed services is expected to grow at the highest rate during the forecast period. Managed services are the services outsourced to a service provider to manage routine IT operations. While buildings are becoming smarter and are eradicating inefficiencies, even the most advanced intelligent building technology requires the humanoversight. The human oversight can help in identifying and eliminating problems, performing ongoing maintenance, and monitoring energy management operations. Maximum number of building management systems are being deployed in Europe Europe accounted for the largest share of the total building management system market in 2016. The adoption of building management systems (BMSs) in the region has been driven by regulatory push, amended policy framework, operational efficiencies, cost containment, sustainability benefits, and changing business dynamics, which would eventually increase the penetration of system integration and deployment services in this region. Inquiry Before Buy @ http://www.marketsandmarkets.com/Enquiry_Before_Buying.asp?id=28089524 The report profiles the most promising players in the building management system market. The key players in the building management system market are Honeywell International Inc. (US), Siemens AG (Germany), Johnson Controls International PLC (Ireland), Schneider Electric SE (France), United Technologies Corp. (US), IBM Corporation (US), Ingersoll-Rand Plc (Ireland), and Delta Controls (Canada). Browse Related Reports Building Automation System Market by Communication Technology (Wired, and Wireless), Offering (Facilities Management Systems, Security & Access Control Systems, and Fire Protection Systems), Application, and Region - Global Forecast to 2022 Building Information Modeling (BIM) Market by Type (Software, Services), Project life cycle (Pre-construction, Construction, Operation), Application (Buildings, Civil Infrastructure, Oil & Gas, Industrial, Utilities), Geography - Global Forecast to 2022 Subscribe Reports from Semiconductor Domain @ http://www.marketsandmarkets.com/Knowledgestore.asp About MarketsandMarkets™ MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions. Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve. MarketsandMarkets's flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. Contact: Visit Our Blog@ http://www.marketsandmarketsblog.com/market-reports/electronics-and-semiconductors SOURCE MarketsandMarkets 
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