Key Trends and Outlook for Building Management Solutions (BMS) in Southeast Asia
The building construction industry in Southeast Asia is witnessing significant growth owing to fast-growing economies such as Indonesia, the Philippines, and Vietnam. Indonesia and Vietnam have adopted policy changes now allowing greater foreign ownership of property.
More cities are increasingly developing with the “smart city” vision in mind. As a result demand for smart buildings will grow.
With several smart cities being developed or planned in Southeast Asia, the demand for building management solutions (BMS) will witness a sharp increase.
Singapore leads the region with the highest revenue for BMS in Southeast Asia. Countries such as the Philippines, Thailand, and Malaysia will witness fast-growing demand for BMS.
With numerous regulations and incentives that encourage green solutions, incorporating energy harvesting propositions in BMS will be an added advantage and will increase the demand significantly.
The commissioning of the ASEAN Economic Community by the end of 2015 is expected to facilitate the growth of BMS owing to less trade restrictions and more foreign investments.
Currently, BMS in Southeast Asia is mostly implemented in large buildings such as industries, multi-tenant commercial offices, and high-rise residential buildings. With the government implementing tighter regulations and building standards, BMS will be adopted in more small-and medium-sized buildings.
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