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.
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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