SOUTH KOREA BUILDING AUTOMATION SYSTEM MARKET

INTRODUCTION

 Building automation (BAS), also known as a building management system (BMS) or a building energy management system (BEMS), is the automatic centralised control of a building's HVAC (heating, ventilation, and air conditioning), electrical, lighting, shading, access control, security, and other interconnected systems. 

Building automation goals include greater occupant comfort, more efficient building system performance, reduced energy consumption, lower operating and maintenance costs, and increased security.

BAS functionality may keep a building's temperature within a certain range, supply light to rooms based on occupancy, monitor performance and device failures, and alert building maintenance workers to malfunctions.

SOUTH KOREA BUILDING AUTOMATION SYSTEM MARKET SIZE AND FORECAST

The South Korea Building automation system market accounted for $XX Billion in 2022 and is anticipated to reach $XX Billion by 2030, registering a CAGR of XX% from 2023 to 2030.

NEW PRODUCT LAUNCH

KT of South Korea has launched the Building Energy Management System [BEMS]. According to the country's leading telecommunications company, the new ICT-based integrated solution includes "Smart Building Sensing" and "Smart Building BEMS."

Smart Building Sensing" monitors boilers, water tanks, motors and other operational systems, alerting the building manager in real time to failures, glitches and other issues.

 The company's IoT control centre assists with round-the-clock remote monitoring. "Smart Building BEMS" is a building energy management system developed jointly by KT and KT Estate, which specialises in property development and management.

It is a real-time energy management and operational consultancy solution for building owners and builders.

Applicants for building permits must present an energy-saving plan that includes a building energy management system (BEMS), which monitors and manages a building's energy consumption.  

Before the facility can be used, proof that the BEMS complies with rules must be presented. Currently, public buildings with a floor area of 10,000 square metres or greater are required to install a BEMS.

The regulation is set to be expanded to include private buildings with a floor area of 1,000 square metres or more, as well as public structures with a floor area of 500 square metres or more.

KT's smart building service offers safe and convenient building management at a cheap cost.

COMPANY PROFILE

• Doosan Group
• Autonics
• Cimon
• Woojin Electric Machinery Co Ltd
• ETRI

THIS REPORT WILL ANSWER FOLLOWING QUESTIONS

1. How many Building automation systems are manufactured per annum in South Korea? Who are the sub-component suppliers in different regions?
2. Cost breakup of a South Korea Building automation system and key vendor selection criteria
3. Where is the Building automation system manufactured? What is the average margin per unit?
4. Market share of South Korea Building automation system market manufacturers and their upcoming products
5. Cost advantage for OEMs who manufacture South Korea Building automation system in-house
6. key predictions for next 5 years in South Korea Building automation system market
7. Average B-2-B Building automation system market price in all segments
8. Latest trends in Building automation system market, by every market segment
9. The market size (both volume and value) of the Building automation system market in 2023-2030 and every year in between?
10. Production breakup of Building automation system market, by suppliers and their OEM relationship