In this blog, we evaluate the future Intelligent Building Management Systems Market and how they will progress.
As global urbanization scales up, so does the need for efficient building operations. Intelligent Building Management Systems (IBMS) are emerging as the go-to solution, promising to revolutionize energy consumption and enhance security.
Market Insights: A Surge in IBMS Adoption
While, IBMS encompasses integrated control systems like HVAC, lighting, and security, all powered by smart sensors and automation. The IBMS market is experiencing growth thanks to the rise of smart cities.
According to Grand View Research, the IBMS market, valued at USD 6.19 billion in 2020, is poised for a CAGR of 12.1% from 2021 to 2028. Green construction trends, stringent energy-efficient building regulations, and the proliferation of IoT and cloud technologies are propelling this market forward.
Trend Analysis: AI and Wireless Technologies Lead the Way
Artificial Intelligence and Machine Learning stand at the forefront of IBMS trends, optimizing energy use and operational efficiency. Concurrently, wireless technology is reshaping access to building systems, offering flexibility and enhanced security through reduced physical infrastructure vulnerabilities.
Leading Companies Paving the Way
Schneider Electric, Pacific Control Systems, and Larsen & Toubro are leading the IBMS charge.
Schneider Electric’s EcoStruxure platform showcases a suite of energy management and automation solutions, marking over a century of their expertise in efficient building solutions.
Pacific Control Systems is making waves with its Galaxy 2021 cloud-based platform, an embodiment of modern energy management and smart automation.