Latest TMR Report Explores Impact of COVID-19 Outbreak on Enterprise Building Solutions Market

Enterprise building solutions includes building automation and control systems which are centralized and interconnected networks of software and hardware that are used for monitoring and controlling the environment in industrial, commercial, and residential facilities. Such systems specifically control elevators, lighting, HVAC (Heating, Ventilation and Air Conditioning), and entertainment systems. These systems also ensure comfort and safety of the occupants and at the same time enhance the operational performance of the facilities. One of the major benefits of implementing enterprise building solutions are that building operations are simplified. For instance, if there is any fault with equipment in the building, with the help of graphical displays, one can determine the nature of fault. Moreover, Enterprise Building solutions provide innovative unified platforms with built in class structured cabling to cater the in house wireless solution and manage the network traffic.

Avoiding business interruptions is another advantage of implementing enterprise building solutions. Unexpected power failure, breakdown in equipment, and emergency repairs can cause costly business interruptions especially when customers are involved. Enterprise building solutions frequently monitor equipment status and help in overcoming unexpected problems. Another advantage of enterprise building solutions is reduced maintenance cost. Since the equipment installed in the building is frequently monitored and optimally used, the maintenance cost due to wear-and-tear is reduced, thereby extending the equipment life.

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The global enterprise building solutions market is segmented by building type into existing building and new building. On the basis of building size, the enterprise building solutions market is segmented into large and medium buildings, and small buildings. The end-user applications of the global enterprise building solutions market are residential, industrial, institutional, commercial and others. Commercial applications include offices, lodgings, retail, and healthcare among others. Educational, government, amusement, religious, and public recreation buildings are included under institutional applications. Industrial applications include manufacturing plants and non-manufacturing warehouses. Residential and commercial applications majorly contribute to the enterprise building solutions market.

The global enterprise building solutions market is segmented on the basis of regions into North America, South America, Europe, Asia Pacific, and Middle East & Africa. North America is anticipated to hold a prominent share in the global enterprise building solutions market. This dominance is primarily due to the presence of many global players in this region especially in the U.S. and Canada. Europe is also forecast to have a significant position in terms of market share. This trend can be attributed to the increasing focus on innovations through research and development and IT technologies in developed countries. Furthermore, Asia Pacific is expected to emerge as the fastest growing market in the years from 2018 – 2026. High adoption of smart building related solutions along with the growing adherence toward regulatory compliances are some of the factors driving the Asia Pacific enterprise building solutions market. Growing economies in the Asia Pacific region such as India and China are inviting global players to their local markets which is supporting the growth of enterprise building solutions market in the region.

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Companies are strengthening their position through merger & acquisition and continuously investing in research and development (R&D) activities to come up with solutions to cater to the customer’s changing requirements. Furthermore, solution providers are planning to invest in advanced technologies such as artificial intelligence with a target to provide cost competitive products in the market in the years to come.

Major vendors that offer enterprise building solutions across the globe include AT &T Inc., Anixter Inc., CommScope Inc., Ericsson, TE Connectivity Ltd., Alcatel-Lucent, Cobham PLC, Corning Incorporated, Smiths Group PLC, Verizon Communications Inc., Honeywell International Inc., Cisco Systems Inc., Acuity Brands Inc., Robert Bosch GmbH, Whiting-Turner Contracting Company, Gilbane Inc., Hensel Phelps Construction Company, Turner Construction Company, Clark Group, Forbo International SA, CertainTeed Corporation, Binderholz GmBH, and Alumasc Group PLC among others.

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