Pune, India -- (SBWIRE) -- 08/21/2018 -- Energy and cost effective solutions offered by building management system drives the growth of building management system market

The building management system is significantly used in the industrial, commercial and residential building owing to its energy efficiency, cost effective, high Comfort and several others benefits. The factor driving the growth of BMS market is the energy and cost effective solutions offered by building management system market especially in the commercial industries. In addition, the demand of energy efficient and ecofriendly building is rising vary rapidly across the world that is likely to escalate the growth of Building management system market. However, the installation cost of building management system is high that may restrain the growth of building management system market.

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Moreover, the trending integration of internet of things (IoT) with the various system and the Integration of Analytics in building management are projected to create the several opportunities in the building management system market in upcoming years. In addition, growing demand of building management system across various emerging regions is expected to contributing in the growth of BMS market over the forecast period

Europe holds the maximum share in the building management system market

Europe holds the maximum share in the building management system market and is expected to remain the largest region over the period of 2018 to 2024. The various government agencies are taking initiative in the adoption of building management system as they offer energy and cost effective solution. Moreover, rising awareness about energy efficient and ecofriendly services drives the growth of building management system market in this region. Furthermore, the Asia Pacific is the fastest growing region in the building management system market. The rapidly growing demand of building management system from the growing countries like china and India are likely to boost the market growth in the Asia pacific region

IoT shaping new facilities management paradigms

In July 2018, with the adoption of the Internet of Things (IoT) and connected technologies, the landscape of facilities management will change radically within three years, as the number of connected devices globally rises from 10 billion in 2015 to an estimated 34 billion in 2020. Driven by broadband internet, decreasing technology costs, ubiquitous smartphone penetration and more devices created with built-in sensors and Wi-Fi capabilities, the implications on building management are significant.

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Report Highlights:

The report provides deep insights on demand forecasts, market trends and micro and macro indicators. In addition, this report provides insights on the factors that are driving and restraining the global building management system market. Moreover, IGR-Growth Matrix analysis given in the report brings an insight on the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of building management system market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the building management system market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight on the market share of the leading players. This report will help manufacturers, suppliers and distributors of the building management system market to understand the present and future trends in this market and formulate their strategies accordingly.