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Integrated Building Management Systems Market - Actionable Research on COVID-19|Advent of The IoT to Boost the Market Growth | Technavio


The global integrated building management systems market size is poised to grow by USD 10.7 billion during 2020-2024, progressing at a CAGR of over 12% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.

With the advent of the Internet of Things (IoT), vendors are focusing on integrating the technology into their products. This is one of the key integrated building management systems market trends that will gain traction over the forecast period. IoT-enabled devices will support the use of artificial intelligence (AI) and Big Data. AI can be used to derive insights and make real-time predictions on the performance of critical heating and ventilation systems in a building. Though such technological transformation entails significant investments for vendors, IoT-enabled IBMSs are expected to provide greater connectivity, improved productivity, and significant comfort to building inhabitants that will increase their sales over the forecast period. Such factors will fuel the growth of the integrated building management systems market.

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Report Highlights:

Read the full report here: https://www.technavio.com/report/report/integrated-building-management-systems-market-size-industry-analysis

Greater Ease in Monitoring and Controlling Building Operations will be a Key Market Trend

The growing awareness about environmental sustainability across industries and verticals has increased the need for energy efficiency across buildings and facilities. Implementing energy-efficient technologies and solutions, such as integrated building management systems (IBMSs), in existing buildings, can reduce energy consumption by about 50%. The use of IBMS makes it easy to maintain and monitor the pre-determined temperature of systems such as heating, ventilation, and air conditioning (HVAC) equipment. As a result, the demand for IBMS is increasing across commercial, residential, and government sectors, contributing to the integrated building management systems market growth.

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Integrated Building Management Systems Market 2020-2024: Key Highlights

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Executive Summary

Market Landscape

Market Sizing

Five Forces Analysis

Customer landscape

Geographic Landscape

Drivers, Challenges, and Trends

Vendor Landscape

Vendor Analysis

Appendix

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