Posted On: 2020-04-03
The energy management segment in the UAE building management system market would register significant growth over the coming years on account of the rising opportunities in renewable sector-6WResearch.
Growing government investments to boost the non-oil sectors coupled with the increasing influx of FDI in the retail and commercial sectors would result in the surge in demand for the building management system market in UAE. Furthermore, the implementation of energy management system regulations such as ISO 50001 would help in optimizing the systems and make them energy efficient thereby propelling the demand for the UAE building management system market.
According to 6WResearch, UAE building management market size is projected to grow at a CAGR of 6.1% during 2020-2026. International events such as Dubai Expo 2020 had resulted in the increase in the infrastructural development of the country including the modernization of airports, expansion of metros and construction of high-speed railways, malls, hotel chains and stadiums that impelled the building management system market in UAE in the commercial sector during 2016-2019. Additionally, world expo is expected to attract millions of visitors to Dubai which would give a tremendous boost to the tourism sector. However, on account of the COVID-19 pandemic, the tourism sector would witness a downfall thereby resulting in the sluggish growth in the market for 2020 in UAE.
According to Prateek Gupta, Senior Research Analyst, 6WResearch, “Based on solution types, energy management system is expected to grow at a considerable rate over the coming years on account of the rising awareness for energy conservation. UAE has a significant number of green buildings and the rate of adoption of these buildings is expected to grow over the forecast period which would help in cutting down the greenhouse gas emissions to a great extent.”
According to Swati Acharya, Research Associate, 6WResearch, “Facility management system hold a major market revenue share in the building management system market and is anticipated to retain its dominance over the forecast period on account of the rapid development of smart cities which is supported by the economic diversification efforts being made by the government through its initiatives such as UAE Vision 2021.”
Some of the key players in the UAE building management system market include Siemens AG, Johnson Controls International PLC, Schneider Electric SE, and Honeywell International Inc.
UAE Building Management System Market (2020-2026)" report provides an in-depth analysis with 17 figures and 7 tables covered in more than 70 pages. The report estimates and forecasts the overall UAE 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.