Smart Building Market was valued at USD 81.84 Billion in 2022 and is projected to reach USD 157.4 Billion by 2030, growing at a CAGR of 8.8% from 2024 to 2030.
The global smart building market was valued at approximately USD 89.5 billion in 2022, with a projected compound annual growth rate (CAGR) of 28.3% from 2023 to 2030. The growth is driven by increasing urbanization, the need for energy efficiency, and the adoption of IoT technologies. The market encompasses a range of solutions including smart lighting, HVAC systems, and building management systems (BMS) that enhance operational efficiency and reduce energy consumption. The rising emphasis on sustainability and green building practices further propels market expansion, with significant investments directed towards technological advancements and integration.
Opportunities within the smart building market are abundant, particularly in emerging regions such as Asia-Pacific and Latin America, where rapid urbanization and industrial growth are driving demand. In these regions, the market is expected to experience accelerated growth due to increased infrastructure development and government initiatives aimed at promoting smart city projects. Additionally, the proliferation of advanced technologies such as AI and machine learning is set to revolutionize building management systems, offering improved automation and data analytics capabilities. These developments present lucrative opportunities for market participants to innovate and capture a growing share of the evolving smart building landscape.
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Honeywell
Johnson Controls
Siemens
UTC
Schneider
Ingersoll Rand(Trane)
Azbil
General Electric
Eaton
Legrand
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Smart Building Market
Commercial Buildings
Residential Buildings
Government Buildings
Based on Types the Market is categorized into Below types that held the largest Smart Building market share In 2023.
Software Information System
Building Management System
Engineering of Electronic Equipment Plant
Installation & Service
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Smart Building Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Smart Building Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Smart Building Market, By Type
6. Global Smart Building Market, By Application
7. Global Smart Building Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Smart Building Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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