Thailand Building Management System Market revenues is projected to grow at a CAGR of 9.1% respectively during 2024E-2030F

Commercial segment by application held the largest share of Building Management Systems (BMS) in Thailand’s commercial buildings-6Wresearch

In 2023, Commercial sector has garnered the maximum revenue share in Thailand’s building management system market. It is expected to maintain its dominance due to the increasing trend of its usage in commercial and urban development projects, including shopping malls, hotels, office buildings, and public spaces. Additionally, the adoption of BMS in residential units, owing to improved efficiency and productivity is further fuelling its demand.

According to 6Wresearch, Thailand Building Management System Market revenues is projected to grow at a CAGR of 9.1% respectively during 2024E-2030F. The building management system market has witnessed significant growth in recent years, driven by investments in sectors such as retail, hospitality, and mixed-use developments. Notable investments, such as USD 1.7 billion in ICONSIAM and USD 3.5 billion in The One Bangkok, have spurred BMS adoption, leading to reduced operational costs and enhanced energy savings, thus boosting overall efficiency and sustainability.

In 2023, Thailand hosted 29 million foreign tourists, and the Bank of Thailand attributed this growth to the government’s efforts to simplify visa processes, attracting visitors from key markets like China and India. This surge in tourism has increased demand for hotels and resorts, prompting 2 and 3-star hotels to adopt building management solutions to streamline operations.

According to Shubham Deep, Senior Research Analyst, 6Wresearch, Facility management has garnered the highest revenue in Thailand's BMS solution segment due to its focus on optimizing energy consumption in HVAC and lighting systems. Moreover, effective control of these systems reduces operational costs, making facility management a crucial component of BMS solutions. Facility Management in Thailand’s building management system market is anticipated to experience faster growth, due to the country's expanding hospitality and commercial sectors which have high usage of HVAC and lighting control systems.

Thailand Building Management System Market (2024-2030) report provides an in-depth analysis with 21 figures and 7 tables, covered in 70 pages. The report comprehensively covers the market by type, solution, service type and application. The report provides a detailed as well as unbiased analysis of the ongoing drivers, opportunities/high growth areas, and trends of the sector which are projected to support the stakeholders to align as well as devise their market strategies as per the latest and future market dynamics.