The India intelligent building management systems (IBMS) market has been foretold to testify leading companies focusing on gaining a stronghold in the industry and improving product efficiencies. Transparency Market Research (TMR) authoring a research publication on the market has touched on the existence of key firms such as Legrand Pvt. Ltd., Control4 Corporation, and Crestron Electronics India Private Limited. Vital objectives of these players have been foreseen to be accomplished via development of new offerings and improvement in technology.
TMR has suggested that the India IBMS market could expand at a CAGR of 28.10% between 2015 and 2021, where the latter year has been prognosticated to witness a revenue valuation of US$4.3 bn. According to classification by product, a superior share could be secured by security controls by 2021. By geography, a promising lead has been anticipated to be exhibited by South India in the market.
Opportunities Surge as Competition Grows Hot with R&D and Portfolio Expansion
With a view to cement a gainful and an enduring status in the India IBMS market, companies could take to conducting far-reaching research and development activities supported by additional funds and business hours. This has been predicted to augur well for the growth of the market. Besides this, companies could direct their focus on growing their product portfolio to gain a competitive edge over other players in the industry. Thus, as the competition intensifies in the market, more opportunities of growth have been envisaged to take shape in the coming years.
The application of prime products such as general lighting controls, security controls, and communication systems in lucrative end-use domains such as hotels, retails, and residences could raise the expectations of players operating within the India IBMS market. Moreover, influences such as growth in automation, development of green infrastructure, and economic advancement have been projected to draw a decent demand in the market.
Small Companies Fall Short of Capital Investment Owing to Affordability Issue
Affordability could be a major challenge for small-sized operators in the India IBMS market, owing to a hefty capital required for investment in order to provide essential training to their staff. Another factor that has been forecasted to slow down the growth of the market is inaccessibility to skilled workforce. This could be linked to the fact that it is absolutely necessary to employ skilled workers for operating IBMS, considering their complexities.
However, there could be favorable prospects birthing in the India IBMS market on the back of the elevating awareness about technically advanced products. Other prospects could show face as existing geographical markets in India are strengthened by the construction of cutting-edge satellite towns. Profit-making opportunities have been prophesied to show up in the near future as the Indian government has planned to complete substantial infrastructure development undertakings in 500 major cities. Furthermore, the government had planned a 2015-16 budget of approximately US$1.0 bn for the construction of numerable smart cities.
The information presented in this review is based on a TMR report, titled, “Intelligent Building Management Systems Market (Product - General Lighting Controls, Communication Systems, Security Controls, Access Controls, HVAC Controls, Entertainment Controls, and Outdoor Controls; Application - Hospitality, Residential, and Retail (Public Recreation, Retail Buildings, Lodging, Amusement, and Residential Building), Life Science (Healthcare Building (Institutional) and Healthcare Building (Commercial)), Office Space: IT Parks, Banks, ITES, and BPO (Government Buildings and Office Buildings), Centers of Education and Learning (Religious Building and Educational Building), Manufacturing (Industrial Building (Manufacturing) and Automotive), and Energy and Infrastructure (Highways, Streets, and Bridge, Transportation, Communications, and Warehouse Non-Mfg)) - India Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2021.”
The India IBMS market has been segmented as presented below:
India IBMS Market: By Product
- General Lighting Controls
- Communication Systems
- Security Controls
- Access Controls
- HVAC Controls
- Entertainment Controls
- Outdoor Controls
India IBMS Market: By Application
- Hospitality, Residential, and Retail
- Public Recreation
- Retail Buildings
- Residential Building
- Life Science
- Healthcare Building (Institutional)
- Healthcare Building (Commercial)
- Office Space: IT Parks, Banks, ITES, and BPO
- Government Buildings
- Office Buildings
- Centers of Education and Learning
- Religious Building
- Educational Building
- Industrial Building (Manufacturing)
- Energy and Infrastructure
- Highways, Streets, and Bridge
- Warehouse Non-Mfg
India IBMS Market: By Geography
- South India
- West India
- North India
- East India
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