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
18-Nov-2021
Asia Pacific
Market Research
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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
Popular Topics
Deliverable Type | Market Research |
---|---|
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 |