Published: Jan, 2017
The majority of players in the India intelligent building management systems (IBMS) market are aiming at expanding their product portfolio by introducing innovative and new products. They are also engaging in providing better building automation solutions by incorporating latest technologies in order to stay relevant in the market, states Transparency Market Research (TMR) in a new study.
The maximum shares of the market are captured by large players such as Honeywell Automation India Ltd., ABB India Ltd., Schneider Electric India Pvt. Ltd., Siemens Building Technology Pvt. Ltd., and Johnson Controls (India) Pvt. Ltd. “These players are focusing towards expanding their business across the country by acquiring small players,” says TMR’s lead analyst.
Security Controls to Remain Dominant Product Segment Owing to Rising Installation of CCTV Cameras
The IBMS market was valued at US$1.24 bn in 2016 and is poised to reach US$4.37 bn by 2021, expanding at a noteworthy CAGR of 28.1% from 2014 to 2021. On the basis of products, the security controls segment will continue to be the leading revenue contributor until 2021, accounting for more than 35% of the overall market revenue. The increasing deployment of CCTV camera, video, and audio systems to address cybercrime is driving the demand for security controls. Outdoor controls will progress at a tremendous CAGR of 32.9% during the forecast period.
South India will be the dominant region until 2021, representing 35.7% of the overall market revenue. The rising financial and technological investments by governments of different states and manufacturers are augmenting the growth of the region. However, East India is likely to rise at a CAGR of 30.3% during the same period, which is higher than any other region. The growth of the region can be attributed to the growing adoption of automation and smart technologies across various industrial verticals.
Increasing Adoption of IBMS across Green Building Infrastructures to Fuel Growth Prospects
Real estate and infrastructure in India are developing at a brisk pace, thanks to rapid industrialization, urbanization, and economic growth. Rising disposable income is playing a crucial role in the growth of several industries including construction, consumer goods, and hospitality. The flourishing growth of end-user industries is, therefore, providing a fillip to the growth of the India IBMS market. Moreover, the increasing trend of automation coupled with rapid technological advancements is fuelling the market.
Due to the rising concerns for environment conservation, consumers are shifting towards green and smart building infrastructures. “IBMS provide solutions that improve occupant’s comfort, ensure efficient operation of various building systems, and reduce energy consumption and operating costs,” says a TMR analyst. Owing to the merits of these systems, their adoption across green and smart building infrastructures is growing rapidly.
Lack of Skilled Personnel to Hinder Market Growth
The complexity of IBMS along with the dearth of skilled operators is negatively influencing the growth of the market. This is compounded by the hefty costs involved in training operators, which is unaffordable for most of the small and medium scale companies. “Due to the lack of technical knowledge, these systems often fail to realize their utmost energy-saving potential. This results in disappointing returns on the investments of building owners and occupants are left with underperforming lighting systems,” says a TMR analyst. However, the increasing investments of the government for the development of smart cities are opening new avenues for IBMS manufacturers.
The above data is collated from a research report released by TMR, titled “Intelligent Building Management Systems Market - India Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2021.”
The India IBMS market has been segmented as follows:
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, 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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