Dublin, Dec. 14, 2021 (GLOBE NEWSWIRE) -- The "Singapore Building Management System Growth Opportunities" report has been added to ResearchAndMarkets.com's offering.
The Singapore building management system (BMS) market is forecast to expand with a 7.2% CAGR for 2021-2027. Although the positive growth over the forecast period is attributable to recovery from the pandemic, it will not reach the market size of pre-COVID-19 years.
Growth is lower due to slower recovery in the construction sector until 2027. Although projects largely resume in 2021, new waves of COVID-19 infection in Singapore dampened growth in that year, and the BMS market registered a slight decline of 5.0%.
Building automation system (BAS) was the largest BMS product segment in Singapore from 2018 to 2020. In 2020, its revenue accounted for 41.2% of the BMS market and will likely record a 6.9% CAGR (2021-2027). However, energy management system (EMS) overtook BAS as the largest BMS product segment in 2021. EMS' revenue share was 41.9% that year, while BAS took 39.1% of BMS revenue.
The EMS segment is forecast to register a 7.4% CAGR from 2021 to 2027. Although emergency and security automation systems (ESAS) will remain the smallest BMS product segment throughout the forecast period, it will be the fastest-growing section at 7.6% CAGR (2021-2027).
Despite strong headwinds in economic recovery due to the pandemic, Singapore will remain a BMS adoption hotspot. Singapore's Smart Nation Initiative, along with other industries, drives the BMS market development in the country. This initiative created a conducive environment for start-ups to thrive in research and development (R&D) for BMS innovation.
Several newer companies offering digital solutions for BMS applications are present in Singapore. The use of digital technologies in BMS such as cloud computing and networking, big data analytics, the internet of things (IoT) will remain important. The development of these technologies will continue to be steadfast. Its evolution will lead to the development of smart BMS as well. It is also likely to impact the BMS software market positively over the forecast period.
In this study, the publisher defines BMS as a computer-based system that monitors, controls, and optimizes a building's mechanical and electrical system. These systems include lighting; power; heating, ventilation, and air conditioning (HVAC); physical access control; security systems; fire systems; and elevators.
Key Topics Covered:
1. Strategic Imperatives
- Why is it Increasingly Difficult to Grow?
- The Strategic Imperative 8
- The Impact of the Top Three Strategic Imperatives on the Building Management System (BMS) Market
- Growth Opportunities Fuel the Growth Pipeline Engine
2. Growth Opportunity Analysis
- Scope of Analysis
- Segmentation
- Key Competitors
- Key Growth Metrics
- Value Chain Stakeholders
- Growth Drivers
- Growth Driver Analysis
- Growth Restraints
- Growth Restraint Analysis
- Forecast Assumptions
- Revenue Forecast
- Pricing Trends and Forecast Analysis
- Competitive Environment
- Revenue Share
- Overview of Market Participants
3. Growth Opportunity Analysis - Building Automation System
- Key Growth Metrics for BAS
- Revenue Forecast
- Revenue Forecast Analysis
- Revenue Forecast by Service Type
- Revenue Forecast Analysis by Service Type
- Revenue Share Forecast by Service Type
- Revenue Forecast by End User
- Revenue Forecast Analysis by End User
4. Growth Opportunity Analysis - Energy Management System
- Key Growth Metrics
- Revenue Forecast
- Revenue Forecast Analysis
- Revenue Forecast by Service Type
- Revenue Forecast Analysis by Service Type
- Revenue Share Forecast by Service Type
- Revenue Forecast by End User
- Revenue Forecast Analysis by End User
5. Growth Opportunity Analysis - Emergency and Security Automation System
- Key Growth Metrics
- Revenue Forecast
- Revenue Forecast Analysis
- Revenue Forecast by Service Type
- Revenue Forecast Analysis by Service Type
- Revenue Share Forecast by Service Type
- Revenue Forecast by End User
- Revenue Forecast Analysis by End User
6. Growth Opportunity Universe
- Growth Opportunity 1: Market Segment Prioritization for Quick Wins and Expansions
- Growth Opportunity 2: BMS Demonstration Projects for Market Penetration
- Growth Opportunity 3: Integration with Digital Technologies for BMS Advancement
Companies Mentioned
- ABB
- ATT Systems
- Azbil
- Barghest
- BeeBryte
- Daikin
- Delta Controls
- Fujitsu
- Green Koncepts
- Hager
- Honeywell
- Johnson Controls
- NEC
- NTT Facilities
- Quantum Automation
- Schneider Electric
- Siemens
- Toshiba
- Trane
- Willowglen Services
For more information about this report visit https://www.researchandmarkets.com/r/nr8o4t
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