Integrated building management systems (IBMS) are central control systems, which connects all electrical, IT, mechanical, energy, as well as security systems of a building. In IBMS, all the diverse systems in the building are networked into a single centralized management system to enable the sharing of information among these systems as well as to ensure the operation and management of all the systems in a seamless manner.
A key impact of IoT in the real estate sector is asset digitization. IoT can connect the key assets in a building, and when aggregated across the entire building, IoT delivers asset digitization throughout the entire building. IoT platforms will also play an important role in integrating cloud infrastructure in existing buildings, which is expected to result in greater access to off-site customers, such as facility managers and engineers.
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Hence, the use of IoT increases gradually in the real estate sector, especially in the commercial real estate sector, it is expected to open up new avenues for property managers and owners to integrate it with IBMS, EMS, BMS, and thus, make the buildings even more connected and intelligent. Thu, increasing integration of IoT with IMBS is expected to boost the growth of the global integrated building management system market at a CAGR of 12.39% during the forecast period.