SAN FRANCISCO, Oct. 19, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Integrated Building Management Systems - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE
Edition: 6; Released: April 2021
Executive Pool: 21568
Companies: 22 - Players covered include Advanced Control Corp.; Advantech Co., Ltd.; Al Masaood Bergum Co., LLC; Alerton Inc.; AllGreen Ecotech Solutions Pvt. Ltd.; Armiti Trading LLC; Avanceon; Azbil Corporation; Bajaj Electricals Ltd.; Bosch Security Systems, Inc.; Building Logix; Building Maintenance Services (BMS); BuildingIQ, Inc.; Cisco Systems, Inc.; Control4 Corporation; Convergentz; Cylon Controls Ltd.; Delta Controls Inc.; Demont Engineering GmbH; Eagle Technology, Inc.; Emerson Electric Company; Giza Systems; Honeywell International, Inc.; Jardine Engineering Corporation, Limited; Johnson Controls International PLC; M.S. Group; NEC Corporation; Oberix Group; Phoenix Energy Technologies; Schneider Electric SA; Siemens AG; United Technologies Corporation (UTC) and Others.
Coverage: All major geographies and key segments
Segments: End-Use (Commercial Buildings, Residential buildings, Government buildings); Solution (Hardware, Software, Services)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; and Rest of Europe); Asia-Pacific; Rest of World.
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Global Integrated Building Management Systems Market to Reach $33.4 Billion by 2026
Amid the COVID-19 crisis, the global market for Integrated Building Management Systems estimated at US$17.5 Billion in the year 2020, is projected to reach a revised size of US$33.4 Billion by 2026, growing at a CAGR of 11.2% over the analysis period. Hardware, one of the segments analyzed in the report, is projected to record a 10.9% CAGR and reach US$18.5 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Software segment is readjusted to a revised 11.8% CAGR for the next 7-year period.
The U.S. Market is Estimated at $5.8 Billion in 2021, While China is Forecast to Reach $5.9 Billion by 2026
The Integrated Building Management Systems market in the U.S. is estimated at US$5.8 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$5.9 Billion by the year 2026 trailing a CAGR of 10.8% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 9.7% and 9.5% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 8.2% CAGR.
Services Segment to Reach US$7.3 Billion by the year 2026
In the global Services segment, USA, Canada, Japan, China and Europe will drive the 10.9% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$3.1 Billion in the year 2020 will reach a projected size of US$6.3 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. More
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SOURCE Global Industry Analysts, Inc.