Enjoy complimentary customisation on priority with our Enterprise License!
According to Technavio’s market research analyst, the market for BEM services in India will experience profound growth and post an impressive CAGR of almost 29% by 2020. Much of this market’s growth in India can be attributed to the increasing number of real estate buildings. The real estate sector in India is slotted to witness rapid growth due to developmental activities in both the commercial and residential sectors. Commercial buildings, especially office buildings, are anticipated to drive the prospects for growth in the real estate segment with an absorption of 35 million sq. ft. of office space in 2015. Among office buildings, the IT/ITES sector will account for the highest contribution of office spaces, followed by the banking sector. The office buildings sector is expected to record a CAGR of 8% during the forecast period. Similarly, the housing sector will also contribute to the growth of the real estate activity by growing at a CAGR of 11% during the forecast period.
The adoption of renewable sources of energy is another key factor that will result in the impressive growth of the market. Recently, there has been a recent thrust on implementing sustainable energy practices in India. As a result, the government has laid out plans for building owners to adopt cleaner and renewable sources of energy for power generation. During the forecast period, it is expected that the installed capacity of renewable energy sources such as solar, wind, thermal, and geothermal energy will increase to approximately 1.5 times. Since the increasing energy demands cannot be fulfilled by traditional energy sources such as fossil fuels due to the limited availability and constant depletion of resources, the need to generate energy from renewable sources has increased substantially.
The BEM services market in India has a high growth potential due to the economic expansion opportunities available across end-user industries. The Government of India has also emphasized the need to conserve and optimize energy in various facets of business. This provides a vast scope of growth for BEM services vendors in the country.
Key vendors in this market are -
Other prominent vendors analyzed in this market study are Delta India Electronics, TCS, Allied Digital, and CMS Computers.
According to this market research, the system integration services segment dominated this market during 2015 and is anticipated to retain its dominant market position until the end of the forecast period. System integration services include design and engineering of customized and efficient energy management systems for end-users. This also includes the installation and commissioning of BEM services. Services offered by system integrators for buildings have a significant impact on the life cycle cost of building facilities. Impact areas include operations and energy consumption.
At present, the commercial buildings segment dominates this market and is anticipated to strengthen its hold over the market by 2020. Technavio’s market research analysts have noted that the real estate sector in India has been recording a robust growth in recent years due to infrastructural development initiatives by the government. Among all Indian cities, Mumbai has emerged as the most promising city in terms of commercial real estate investment. This city is expected to register a significant return of around 15% during the forecast period, in terms of real estate.
Technavio also offers customization on reports based on specific client requirement.
PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by services
PART 07: Market segmentation by end-user
PART 08: Geographical segmentation
PART 09: Market drivers
PART 10: Impact of drivers
PART 11: Market challenges
PART 12: Impact of drivers and challenges
PART 13: Market trends
PART 14: Competition analysis
PART 15: Appendix
PART 16: Explore Technavio
Get lifetime access to our
Technavio Insights
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.