The India intelligent building management system (IBMS) market has been projected by Transparency Market Research (TMR) to witness the presence of dictating players such as Honeywell Automation India Ltd., Crestron Electronics India Pvt. Ltd., ADT Corporation India, ABB India Ltd., and Cisco Systems, Inc. Enhancement of product efficiencies and gaining traction in the India IBMS market could be the primary objectives of key participants, which have been expected to be achieved via technological upgrades and new product development. While the efforts to expand existing product lines have been forecasted to take shape in the India IBMS market, players could also consider investing time and funds into extensive research and development.

According to a comprehensive report published by TMR, the India IBMS market has been predicted to rake in a handsome US$4.3 bn by 2021 at a 28.10% CAGR for the forecast period 2015–2021. As per product segmentation, security controls could acquire a dominating share in the India IBMS market by the concluding forecast year. Geographically, South India has been foreseen to secure its lead in the India IBMS market.

Security Controls and Hospitality, Residential, and Retail Bless Market with Demand Growth

The India IBMS market has been prophesied to be significantly benefited by a wealth of different products available, including outdoor controls, heating, ventilation and air conditioning (HVAC) controls, security controls, general lighting controls, entertainment controls, access controls, and communication systems. However, amongst these, security controls could help vendors earn a whole lot of revenue until the end of the forecast period. This has been anticipated to be due to the mounting demand for closed-circuit television (CCTV) cameras and passive infrared (PIR) sensors required for the safety of the country and the people therein.

Residential buildings, retail stores, and hotels have been prognosticated to raise the demand in the India IBMS market owing to key applications such as security systems, entertainment control systems, access control systems, and general lighting control. Furthermore, economic growth, green infrastructure development, and automation growth could be crucial for the rise in demand in the India IBMS market.

Lack of Skilled Workforce Dashes Hopes of Vendors

The India IBMS market could be challenged by few restraining factors such as unavailability of skilled labor. Small-scale firms have been foretold to face the issue of affordability on account of large investment capital required to train their workforce. The complexity of IBMS necessitates the availability of skilled personnel during operations.

Nonetheless, the surging awareness about technologically sophisticated products and congregation of advanced satellite towns around existing cities in the country could bring in bankable business opportunities in the India IBMS market. For 2015-16, the government of India had secured around a US$1.0 bn budget for the building of hundreds of smart cities. Major infrastructure development projects planned to be executed around 500 cities in the country could be another lucrative prospect for companies operating in the India IBMS market.

More information at www.transparencymarketresearch.com