Singapore Building Management System Growth Opportunities

Singapore Building Management System Growth Opportunities

Disruptive Technologies and Competition from Start-ups Stimulate the Progression of Building Management Solutions

RELEASE DATE
18-Nov-2021
REGION
Asia Pacific
Research Code: PC7F-01-00-00-00
SKU: EN01287-AP-MT_25960
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Description

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, Frost & Sullivan 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. We include the management and automation layers of BMS and exclude field-level devices from the study scope. In terms of services, only retrofit and new installation services are part of the scope. The report excludes operations and maintenance (O&M) services from the in-depth discussion but provides pertinent figures. Non-residential buildings are the end users of Singapore’s BMS market in the study scope.

Author: Melvin Leong

RESEARCH: INFOGRAPHIC

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Table of Contents

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™

Scope of Analysis

Segmentation

Segmentation (continued)

Segmentation (continued)

Key Competitors

Key Growth Metrics

Value Chain Stakeholders

Growth Drivers

Growth Driver Analysis

Growth Driver Analysis (continued)

Growth Driver Analysis (continued)

Growth Restraints

Growth Restraint Analysis

Growth Restraint Analysis (continued)

Growth Restraint Analysis (continued)

Forecast Assumptions

Revenue Forecast

Revenue Forecast Analysis

Revenue Forecast by Product

Revenue Forecast Analysis by Product

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

Pricing Trends and Forecast Analysis

Competitive Environment

Revenue Share

Overview of Market Participants

Overview of Market Participants (continued)

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

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

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

Growth Opportunity 1: Market Segment Prioritization for Quick Wins and Expansions

Growth Opportunity 1: Market Segment Prioritization for Quick Wins and Expansions (continued)

Growth Opportunity 2: BMS Demonstration Projects for Market Penetration

Growth Opportunity 2: BMS Demonstration Projects for Market Penetration (continued)

Growth Opportunity 3: Integration with Digital Technologies for BMS Advancement

Growth Opportunity 3: Integration with Digital Technologies for BMS Advancement (continued)

Your Next Steps

Why Frost, Why Now?

List of Exhibits

List of Exhibits (continued)

Legal Disclaimer

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, Frost & Sullivan 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. We include the management and automation layers of BMS and exclude field-level devices from the study scope. In terms of services, only retrofit and new installation services are part of the scope. The report excludes operations and maintenance (O&M) services from the in-depth discussion but provides pertinent figures. Non-residential buildings are the end users of Singapore’s BMS market in the study scope. Author: Melvin Leong
More Information
No Index No
Podcast No
Author Melvin Leong
Industries Environment
WIP Number PC7F-01-00-00-00
Keyword 1 Singapore Building Management System Market
Keyword 2 Singapore BMS Market
Keyword 3 Building Automation System Market
Is Prebook No
GPS Codes 9343-A4,GETE