Building Management and Control Systems Market Report 2024

This Building Management And Control Systems market report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.

The building management and control systems market size has grown strongly in recent years. It will grow from $60.19 billion in 2023 to $65.5 billion in 2024 at a compound annual growth rate (CAGR) of 8.8%. The growth during the historic period can be attributed to several factors, including a rising demand for energy-efficient and eco-friendly buildings, heightened security concerns, increasing initiatives from both government and private sectors, a surge in the management of residential properties, and growing influences of building automation deployment.

The building management and control systems market size is expected to see rapid strong in the next few years. It will grow to $94.24 billion in 2028 at a compound annual growth rate (CAGR) of 9.5%. The growth during the forecast period can be attributed to several factors, including the development of smart cities, enhanced occupant comfort, more stringent energy efficiency and emissions regulations, a growing emphasis on sustainability, and substantial cost benefits for industrial, commercial, and residential users. Key trends for the forecast period include the integration of analytics in building management, the adoption of Internet of Things (IoT) and smart technologies, the incorporation of artificial intelligence, the use of machine learning, and the advancement of wireless protocols and standards.

The growth of the building management and control systems market is expected to be significantly driven by the increasing development of smart cities. A smart city leverages technology and data-driven solutions to enhance infrastructure, boost efficiency, and promote sustainability, thereby improving residents' quality of life. The push towards smart cities is motivated by the need to reduce carbon footprints, improve sustainability, achieve cost savings, and enable real-time monitoring and management of urban systems. Building management and control systems play a crucial role in smart cities by automating and optimizing energy use, security, and building operations, which enhances the city’s overall efficiency, sustainability, and connectivity. For example, in June 2024, the Press Information Bureau, an Indian government agency, reported that India's smart cities mission has made significant progress across 100 cities, with 8,013 projects approved at a cost of ₹1,64,158 crore ($19.66 billion). Of these, 7,157 projects have been completed, totaling ₹1,43,958 crore ($12.24 billion). Thus, the expanding development of smart cities is driving the building management and control systems market.

Major companies in the building management and control systems market are concentrating on developing sophisticated building management systems that leverage automation and machine learning to optimize building operations, enhance energy efficiency, and improve occupant comfort. Automation and machine learning optimize building systems by continuously analyzing data and adjusting operations to best balance energy efficiency and occupant comfort. For example, in January 2024, Honeywell International Inc., a US-based manufacturer of building control systems, introduced Advance Control for Buildings. This innovative building management platform integrates the latest technologies with decades of experience to automate building operations and enhance energy efficiency. It employs automation and machine learning to streamline operations and features built-in cybersecurity and technology for faster network speeds. Additionally, it provides building managers with improved control over efficiency, aiming to enhance occupant experience and advance energy management objectives.

In February 2024, Learnd Limited, a technology company based in the UK, acquired BGES Group for an undisclosed sum. This acquisition enables Learnd to bolster its presence in the building management system sector by leveraging BGES Group's expertise, expanding its market reach, enhancing its resources, and creating synergies between the two companies. The goal is to deliver advanced solutions in energy management and sustainability. BGES Group, also based in the UK, specializes in building management services aimed at reducing energy costs and carbon emissions in non-residential buildings.

Major companies operating in the building management and control systems market are Siemens AG, Raytheon Technologies Corp., International Business Machines Corporation, Cisco Systems Inc., Schneider Electric SE, Honeywell International Inc., ABB Ltd., Trane Technologies PLC, Johnson Controls International PLC, Ingersoll-Rand PLC, Crestron Electronics Inc., Lutron Electronics Co. Inc., Sauter Controls AG, Bajaj Electricals Limited, Automated Logic Corporation, Delta Controls Inc., KMC Controls Inc., Distech Controls Inc., Tridium Inc., BuildingIQ Inc.

Asia-Pacific was the largest region in the building management and control systems market in 2023. The regions covered in the building management and control systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the building management and control systems market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Building management and control systems (BMCS) are integrated systems that monitor, control, and manage various building services and facilities. These systems oversee commercial or industrial buildings' heating, ventilation, air conditioning (HVAC), lighting, security, fire safety, and other critical infrastructure. Building management and control systems (BMCS) help optimize energy efficiency, ensure occupant comfort, and enhance building security by enabling centralized or automated control.

The main components of building management and control systems are hardware, software, and service. Software in BMS enables data collection, system control, and analysis, providing interfaces for managing building operations, energy efficiency, and automation. The various offerings include integrated building management systems(BMS), standalone building management systems(BMS), and managed building management systems(BMS) with various communication technologies such as wireless technologies, and wired technologies. These are used in various applications such as residential, commercial, and industrial.

The building management and control systems market research report is one of a series of new reports that provides building management and control systems market statistics, including building management and control systems industry global market size, regional shares, competitors with a building management and control systems market share, detailed building management and control systems market segments, market trends, and opportunities, and any further data you may need to thrive in the building management and control systems industry. This building management and control systems research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The building management and control systems market consists of revenues by entities by providing services such as data analytics, building automation services, and integration services. The market value includes the value of related goods sold by the service provider or included within the service offering. The building management and control systems market also includes sales of controllers, sensors, and actuators. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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