Posted On: 2020-06-01
The energy management segment in the Egypt building management system market would witness significant growth over the coming years on account of the rising adoption of eco-friendly buildings coupled with the government’s vision to ensure sustainability-6WResearch.
Rising awareness about energy conservation to ensure minimum energy consumption in the buildings would propel the building management system market in Egypt. In the African subcontinent, Egypt accounts for nearly 10 percent of the projects valued at $80 billion, thereby creating multitude of prospects for the foreign direct investments in the construction, transportation, and commercial sector.
According to 6WResearch, Egypt building management market size is projected to grow at a CAGR of 8.5% during 2020-2026. Growth in the construction sector underpinned by government initiatives such as Egypt Vision 2030 would lead to significant growth in the building management system market over the coming years in Egypt. Moreover, the rising investments by the government for the modernization of airports and expansion of railway tracks would pave the way for building management system market in Egypt over the forecast period.
According to Prateek Gupta, Senior Research Analyst, 6WResearch, “Travel and tourism in Egypt accounted for about 12 percent of the total investments. The growing tourism sector would boost the hospitality infrastructure constructions such as malls and hotels in the country, thereby boosting the building management system market in the commercial sector. However, on account of the COVID-19, the tourism sector would witness a sluggish growth which would result in a halt in the construction projects, thereby affecting the building management system market in Egypt for 2020”.
According to Swati Acharya, Research Associate, 6WResearch, “Facility management system accounted for the major market revenue share over the recent years and the trend would continue in the coming years on account of the increasing government investments for smart city projects in the country”.
Egypt Building Management System Market (2020-2026)" report provides an in-depth analysis with 17 figures and 5 tables covered in more than 70 pages. The report estimates and forecast the overall Egypt building management system market by types, solutions, services, and applications. The report provides an unbiased and detailed analysis of the on-going trends, opportunities/high growth areas and market drivers which would help the stakeholders to device and align their market strategies according to the current and future market dynamics.