Global Smart Building Market was valued at USD 13.39 Billion in 2022 and is projected to reach USD 29.48 Billion by 2030, growing at a CAGR of 10.4% from 2024 to 2030.
The Smart Building Market has seen remarkable growth in recent years, transforming urban landscapes across the globe. Driven by advancements in Internet of Things (IoT) technology, energy efficiency solutions, and automation, the demand for smart buildings is expected to continue to rise. These buildings use integrated systems to monitor and control various factors, such as lighting, temperature, and security, all while optimizing energy usage. The smart building concept has moved from a niche trend to a mainstream solution for both residential and commercial properties.
One key driver in the market is the growing focus on sustainability and energy efficiency. According to a recent report, energy-efficient buildings consume up to 30% less energy than traditional buildings, providing significant cost savings for businesses and homeowners alike. With increasing awareness around climate change and carbon emissions, smart buildings are seen as a vital component of sustainable architecture. Innovations such as automated HVAC systems, energy-efficient lighting, and smart meters contribute to this greener future.
Furthermore, the rise of smart cities and the integration of smart building technologies into urban infrastructure are shaping the future of urban living. Smart buildings are designed to connect seamlessly with other city systems, creating an ecosystem where data can be analyzed to improve efficiency, reduce waste, and enhance the overall quality of life. This convergence of urban planning and technology has led to the creation of ‘smart districts,’ where multiple buildings work together to optimize resources.
The adoption of artificial intelligence (AI) and machine learning (ML) in smart buildings is also playing a pivotal role. AI-driven systems can predict building maintenance needs, adjust environmental settings based on occupancy, and even reduce energy consumption during peak hours. The integration of such technologies is helping buildings become more adaptive, efficient, and user-friendly.
As more organizations and governments push for green building certifications, the smart building market is poised for significant expansion. The need for smarter, more efficient infrastructure is undeniable, making smart buildings a key pillar in the future of real estate development and urban sustainability.
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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, Global, 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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