Efficient energy management and reduced operating cost strengthens the IBMS Market in India, finds Frost & Sullivan
Mushrooming of commercial, residential building due to globalization creates a wide market for IBMS
Mumbai, India -- The integrated building management systems (IBMS) market in India is riding high on the wave of energy consciousness and building owners’ desire to increase their green footprint. Customers are also eager to adopt this solution to lower their operating expenditure, giving IBMS companies many reasons to cheer.
New analysis from Frost & Sullivan (http://www.buildingtechnologies.frost.com), Analysis of Integrated Building Management Systems Market in India, finds that the market earned revenues of more than INR 25.86 billion in 2011 and estimates this to reach INR 51.55 billion in 2016, at a compound annual growth rate of 14.8 percent.
The rising impetus from the Indian government to reduce CO2 emissions and energy consumption, and reforms to aid foreign direct investments has significantly aided the IBMS market.
The market has also got a leg up from globalization, which has strengthened the presence of multinational and domestic companies in the country. This proliferation of enterprises has enlarged the urban population, which, in turn, has pushed the demand for IBMS. Furthermore, globalization has created higher demand for commercial (offices, retail, hotel), residential, and industrial buildings in the region.
This rapid industrialization has augmented the need for power and thereby, brought the concept of energy efficiency in focus. The IBMS market is expected to grow in tandem with the construction sector and markets for safety systems, security systems, heating, ventilation and air conditioning (HVAC) systems, lighting systems, and energy management services.
'Further, escalating crime rates, surging energy costs, and technological advancements are enhancing the need for fire and safety, security, comfort, and energy-efficiency, which bodes well for the IBMS market,' said Frost & Sullivan’s Analyst.
Despite the swelling demand for IBMS, the market is hindered by the low availability of skilled manpower and qualified system integrators. Its high upfront costs also deter the price-sensitive Indian consumers, who seek guaranteed return on investments through energy and cost savings. However, this can be achieved only by using cheaper products, which are in short supply.
The intense competition further shrinks participants’ profit margins; but it encourages large- and medium-sized market participants to offer top-notch designs, installations, commissioning, overseeing, and training.
'Gradually, customers are moving away from price-based to value-based products and systems,' noted the Analyst. 'This may lead to aggressive marketing of their product offerings, advantages, cost of ownership, and the resulting payback period.'
Building performance can be improved by integrating several sub-systems within the IBMS architecture, as it can bring down energy cost, improve efficiency, and diminish energy usage. Acknowledging the vast opportunities in this market, many leading international and domestic market participants are signing mergers and acquisitions to expand their geographic reach and product portfolio and grow inorganically.
If you are interested in a virtual brochure, which provides a brief synopsis of the research and a table of contents, then send an e-mail to Ravinder Kaur/ Priya George, Corporate Communications, at ravinder.kaur@frost.com / priyag@frost.com, with your full name, company name, title, telephone number, company e-mail address, company website, city, state and country. Upon receipt of the above information, a brochure will be sent to you by e-mail.
Analysis of Integrated Building Management Systems Market in India is part of the Building Management Technologies Growth Partnership Services program, which also includes research in the following markets: Indian Select HVAC Products Market, Indian Facility Management Market, and Indian Pre-engineered Steel Buildings Market. All research services included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants.
About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants.
Our 'Growth Partnership' supports clients by addressing these opportunities and incorporating two key elements driving visionary innovation: The Integrated Value Proposition and The Partnership Infrastructure.
- The Integrated Value Proposition provides support to our clients throughout all phases of their journey to visionary innovation including: research, analysis, strategy, vision, innovation and implementation.
- The Partnership Infrastructure is entirely unique as it constructs the foundation upon which visionary innovation becomes possible. This includes our 360 degree research, comprehensive industry coverage, career best practices as well as our global footprint of more than 40 offices.
Customer comments
No comments were found for Efficient energy management and reduced operating cost strengthens the IBMS Market in India, finds Frost & Sullivan. Be the first to comment!