Rapidly Growing Construction Sector to Drive Global Intelligent Building Management Systems Market
The global construction industry is growing at a significant pace with many construction projects in the pipeline. The growing population is expected to motivate key construction companies to add sound infrastructure in the housing projects. Building contractors are adding technology to improve the interiors, thus enhancing the lifestyle of the people. The increasing incorporation of technology in the newly constructed housing and commercial buildings is expected to propel the global intelligent building management systems (IBMS) market. Intelligent building management systems enhances the efficiency of the building by minimizing failures and errors, says a new report by Transparency Market Research.
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The report, titled “Intelligent Building Management Systems Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 – 2023,” defines intelligent building management systems and analyzes what factors will determine the market’s growth. The internet and IT infrastructure have aided the development of intelligent building management systems. Management systems installed in residential and commercial buildings are integrated in intelligent building management systems by using the internet protocol network. As IBMS minimizes the consumption of energy and reduces carbon footprint, it is being increasingly installed in buildings.
Automation has always helped many industries to manage their business operations. Automation has helped the building and construction industry in many ways. Clearly, automation has helped the contractors to maintain sound building infrastructure and obey the rules developed by the government regarding building security. As contractors are focusing on adopting innovations, they are likely to benefit from the advanced intelligent building management systems.
The mindsets of customers regarding the safety of homes and commercial properties are changing at a significant rate. This is because of the awareness that is being spread by various building contractors. Consumers are now keeping a track of latest developments in the construction industry, especially the safety of buildings. However, the lack of knowhow of intelligent building management systems in the developing nations is predicted to hamper the global market.
Key companies are taking efforts to spread the importance of IBMS among the patrons, which is expected to propel the global market. Some of the leading companies listed in the report are Singapore Technologies Electronics Limited, NG Bailey Group, Delta Electronics, Inc., Pacific Control Systems, T-Systems International GmbH, Advanced Control Corporation, Allied Digital Services limited, Schneider Electric SE, Siemsatec Ltd., and Larsen & Toubro Limited.
Companies are concentrating on developing various IBMS products such as communication protocols, security and access controls, general lighting controls, heating ventilation and air conditioning, and outdoor controls. IBMS finds application in life science, hospitality, educational centers, energy and infrastructure, manufacturing buildings, residential and retail, office space, and religious centers.