Product Launch was the Key Strategy Adopted by the Players to Achieve Growth and Stay Competitive in the Building Management System Market
The building management system market was dominated by companies in the Americas, followed by those in Europe. The presence of a large number of players in the building management system market makes it highly competitive. The top companies in the market are Johnson Controls Inc. (Ireland), Honeywell International Inc. (US), Schneider Electric SE (France), Siemens AG (Germany), and United Technologies Corp. (US). These top 5 players have a strong building management system (BMS) product portfolio, service offerings, robust R&D facilities, and a presence in both mature and emerging markets.
The product launch was the key strategy adopted by the players to achieve growth and stay competitive in the building management system market. This strategy accounted for ~43% of the overall growth strategies adopted by the players in the building management system market between January 2016 and April 2017. Product launches help the company stay competitive in the market and cater to the changing demand from the customers. This is further likely to generate company review in the building management system market. Besides this, strategies such as partnerships, agreements, mergers, acquisitions, and collaborations have also been used to strengthen their market share and position in the overall building management system market.
Johnson Controls International PLC (Ireland) is the leading player in the building management system market. The company operates in more than 150 countries across the Americas, Europe, the Middle East and Africa, and APAC. The company offers BMS through its Building Efficiency business segment under the name Metasys Building Automation System. The company has a wide product portfolio and has segmented its building automation and management products into supervisor software and tools, supervisory and network controllers, integration and gateways, programmable controllers, and configurable field controllers. It merged with Tyco International PLC in 2016. This merger with Tyco brought together the best-in-class product, technology, and service capabilities across controls, fire safety, security, HVAC, power solutions, and energy storage systems to serve various end users.
Honeywell International Inc. (US) has a strong presence in the building management system market mainly due to its wide product portfolio consisting of various products and services related to security and fire, building controls and software, and mass notification, among others. The company is fostering its growth through the expansion of its innovative and technological leadership and diversification of activities into new markets and regions. In 2016, Honeywell expanded its software development capabilities by announcing the foundation of a state-of-the-art software center in the US with more than 730 full-time product software engineers.
Related Reports:
Building Management System Market by Software (Facility, Security, Energy, Emergency, Infrastructure Management), Service (Professional, Managed), Application (Residential, Commercial, Industrial), and Geography - Global Forecast to 2023
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