Building Management System Hardware to Record Strong Growth over Next 7 Years

The Building Management System Hardware sector is set to record a very strong level of growth over the next 7 years, prompted by the rise in demand for integrated solutions that drive down energy consumption and carbon emissions in the built sector, a recent market research report has been able to suggest.

The new report from Research and Markets suggests that 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$36.8 Billion by 2027, growing at a CAGR of 11.2% over the analysis period 2020-2027.

Hardware, one of the segments analysed in the report, is projected to grow at a 10.9% CAGR to reach US$18.5 Billion by the end of the analysis period. After an early 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. This segment currently accounts for a 26.9% share of the global Integrated Building Management Systems market.

The Integrated Building Management Systems market in the U.S. is estimated at US$5.2 Billion in the year 2020. The country currently accounts for a 29.49% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$6.5 Billion in the year 2027 trailing a CAGR of 10.8% through 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 9.7% and 9.5% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 8.2% CAGR while Rest of European market (as defined in the study) will reach US$6.5 Billion by the year 2027.

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