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India Intelligent Building Management Systems Market to Grow at a CAGR of 24.10% During 2022-2027, Aided by the Emerging Smart Hospitals in the Metropolitan Cities

According to a new report by EMR titled, ‘India Intelligent Building Management Systems Market Report and Forecast 2022-2027’, India intelligent building management systems market reached a value of USD 5,566.09 million in 2021. It is likely to grow at a CAGR of 24.10% during 2022-2027 to reach a value of USD 20,332.05 million by 2027.

The Indian intelligent building management systems market is driven by the emerging smart hospitals in the developed cities of the country. Intelligent hospital buildings bolster the healthcare system by streamlining the work process ameliorating healthcare decisions with greater data. Through communication protocols, standards and data distribution, the doctors and healthcare administration can address the needs of the patients as quickly and efficiently as possible. The market in the region will further be aided by the technological advancements in the healthcare infrastructure, rapid urbanisation, and increasing hospital admission rates every year.

India is likely to account for a significant share in the global market, owing to the supportive government policies and regulations towards green technology, coupled with the growing expansion of the major market players in the region. The growing investments towards the development of smart hospitals are likely to aid the market. For instance, Accord Superspeciality Hospital is one of India’s first smart hospitals created by Sapio Analytics, a government advisory firm. The growing concerns about energy conservation will further drive the market by making the building operations more efficient.

In August 2021, ABB Ltd. (SWX: ABBN) launched a series of switches in India. The development has been aimed at bolstering the occupants' comfort in smart homes, and the product is subject to upgradation with the latest smart home automation solutions. In addition to this, the switches are tailored so that both homes and commercial buildings will allow customers to switch from conventional lighting to an economical and efficient intelligent alternative. Furthermore, these switches will be manufactured at ABB’s state-of-the-art Smart Buildings factory in Bengaluru.

Market Breakup by Products, Applications, and Region:

  • The market is segmented on the basis of product into general lighting controls, communication protocols, standards, data distribution, security and access controls, HVAC controls, entertainment controls, and outdoor controls.
  • The significant applications of the intelligent building management system include life science, office space, hospitality, residential and retail, educational and religious centres, manufacturing buildings, energy and infrastructure.
  • The regional markets for Indian intelligent building management systems can be divided into South India, West India, East India, and North India.

Key Findings of the Report:

  • India's intelligent building management systems market is being driven by the rising application of these buildings in various end-use sectors, including healthcare, commercial, government, and industrial, among others.
  • The rising investments towards developing smart hospitals and smart commercial office buildings are likely to be a major factor in the market growth.
  • The market is anticipated to be driven by the increasing inclination of Indians towards green technology and structures that could facilitate operations with greater energy efficiency.
  • The market will further be aided by the growing expansion of the major market players in the country.

Key Offerings of the Report:

  • The EMR report gives an overview of India's intelligent building management system market for the periods (2017-2021) and (2022-2027).
  • The report also offers historical (2017-2021) and forecast (2022-2027) market information for intelligent buildings' products, applications, and regions.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in India's intelligent building management system market are ABB Ltd., Cisco Systems Inc., Honeywell International Inc., Johnson Controls, and Lutron Electronics Co., Inc, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium-sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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