NEW DELHI, India, Oct. 14 /PRNewswire/ -- Today, Frost & Sullivan hosted its one-day 2nd Annual Building Technologies Summit at Hyatt Regency, New Delhi. The event revolved around 'Unlocking the potential of the Indian Building Technologies Market' by addressing key issues such as lower Total Cost of Ownership (TCO), greater Return on Investment (ROI), open systems, performance of BMS, convergence of building technologies with mainstream IT, energy management and remote monitoring to maximize ROI in building facilities.
The Indian building automation, fire safety and security market continues to evolve on a fast track. The market has evolved steadily from simple integration of disparate systems such as fire safety, security, HVAC and other utilities, to fully integrated and intelligent systems that incorporate the latest technology, applications and features. The Industry is ad infinitum being shaped by changing needs, the competitive and performance-focused business environment and the advent of innovative technologies whose catalytic effects offer new growth opportunities.
India remains a global hot spot for building automation, fire safety and security due to the thrust given by the economic and business environment and is expected to offer a potential of US $3 billion by 2012. Economic growth induced demand, changing attitudes and perceptions about comfort, central monitoring and control, energy conservation, carbon emissions, safety, security, etc. have increased adoption of IBMS (Integrated Building Management Systems), leading to a Y-O-Y market growth of over 27 percent. Moreover, advancements in building technology such as IP systems, web-enabled systems, M2M, XML, web services enabled anywhere-anytime monitoring and converged building systems are creating paradigms.
It is true that these systems and technologies offer great advantages and high levels of functionality to meet the dynamic needs of end users. However, there are quite a few challenges and issues that need to be addressed to enable end users and industry to unlock the true potential of such systems. Addressing such issues will help realize the true potential not just in terms of system functionality and benefits but also cost effectiveness and of course emerging growth opportunities for the industry.
According to Mushtaq M Khan, Deputy Director, Environment and Building Technologies Practice, South Asia and Middle East, Frost & Sullivan, "It is important that stakeholders -- end users, industry, consultants, and facilities management companies -- accord priority to achieving operational excellence in buildings in order to bring down life cycle costs. An estimated 75 to 80 percent of the life cycle cost is spent on operations and maintenance of buildings and measures to reduce this huge cost brings the focus on building management systems, energy management systems, and facilities management."
Key issues such as shift to open systems, lack of awareness regarding measuring ROI, TCO, methods to measure and verify ROI, energy savings, lack of skilled manpower to install and operate such systems, and integration challenges, etc. continue to plague the industry.