The IBMS market in
India was valued at USD 780 million in 2014, growing at a CAGR of
28.1% from 2015 to 2021. The IBMS majorly find applications across
hospitality, retail, office building, energy and other infrastructure
buildings. In addition, reduction of power consumption, need for
occupant comfort and reduction of man power are the major drivers for
the growth of this market in the country. The IBMS products such as
general lighting controls, security controls, communication systems,
access controls, HVAC controls and other are rapidly gaining
importance across various industry verticals in India.
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By geography, the
India IBMS market has been segmented into South India, West India,
North India and East India. The demand of IBMS is growing in the
country owing to the augmenting importance of security control
systems and access controls systems in varied sector such as real
estate, hospitality and energy. In addition, the increasing demand
for green buildings and hospitality industry is also boosting the
market for IBMS in India. Further, the economic growth in India and
increasing disposable income are positively influencing the growth of
the IBMS market.
In 2014, South India
was estimated to be the leading market for IBMS in India. The region
is expected to dominate the market throughout the forecast period.
The increasing application of IBMS for the reduction of operating
expenditure and energy consumption is also acting as a key driver for
the growth of this market in the region. South India has been
estimated to account for more than thirty percent of the overall IBMS
market in India. East India is analyzed to be the fastest growing
region owing to the increasing number of new manufacturers and also
the growing construction sector in the region.
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The India IBMS
market can be categorized on the basis of products which include
general lighting controls, communication systems, security controls,
access controls, HVAC controls, entertainment controls, outdoor
controls and others. The security controls held the highest market
share in 2014 and is expected to continue its dominance throughout
the forecast period. The escalating demand for CCTV cameras, PIR
sensors and others required in the prevention of crimes boosts the
market for security controls segment in the country.
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