Transparency Market Research announces the release of a new research report titled “Intelligent Building Management Systems Market – India Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2021”. According to the report, the India intelligent building management systems (IBMS) market in projected to register an impressive CAGR of 28.10% from 2015 to 2021, growing from a value of US$780 mn in 2014 to US$4,347.7 mn in 2021.
The IBMS market in India is fueled by growth of automation in the country, development of green infrastructure, booming hospitality sector, technological advancement, and economic growth. However, lack of skilled labor is projected to hamper the development of the IBMS market in India.On the basis of product, the IBMS market in India is segmented into communication systems, access controls, entertainment controls, general lighting controls, security controls, HVAC controls, outdoor controls, and others. Valued at US$291.3 mn in 2014, security controls dominated the IBMS market in India. This product segment is anticipated to maintain its leading position through 2021, fueled by surging demand for PIR sensors, CCTV cameras and others needed in the safety of the country and its people.
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The IBMS market in India is categorized into several application segments: life science, hospitality, residential, and retail, centers of education and learning, office spaces, energy and infrastructure, and manufacturing. Generating a revenue of US$185.1 mn in 2014, the segment of hospitality, residential, and retail dominated the IBMS market. The growth in this sector can be attributed to rising demand for IBMS in applications such as general lighting control, access control systems, entertainment control systems, and security systems in hotels, retail stores, and residential buildings across the country.
By geography, the India IBMS market is divided into North India, South India, East India, and West India. In 2014, South India held the largest share of the overall IBMS market, accounting for a share of over 30.0%. Driven by growing application of IBMS in the reduction of energy consumption and operating expenditure, high disposable income of the people, well-established hotel and hospitality industry, and high degree of industrialization, South India is anticipated to retain its lead throughout the forecast period, expanding from its revenue share of US$296.4 mn in 2014. East India, on the other hand, will emerge as the most rapidly developing IBMS market by 2021, fueled by rising construction in the region and increasing number of new manufacturers.