Analysis of Integrated Building Management Systems Market in India
Increasing safety and security concerns, need for comfort and central monitoring, technological advancements, and growing impetus from the government to reduce carbon emission and energy consumption are the major driving factors. The key challenges that are being faced by market participants are high initial cost, longer payback period, lack of guaranteed energy savings, and lack of skilled manpower in the region. Some of the benefits of integrated building management systems (IBMS) over conventional building management system are energy-efficiency and lack of system interoperability. The customers are highly price sensitive and are moving from price-based to value-based products and systems.
1. Indian Integrated Building Management Systems Market Analysis