Smart Buildings Market was valued at USD 80 Billion in 2022 and is projected to reach USD 130 Billion by 2030, growing at a CAGR of 7.5% from 2024 to 2030.
From 2018 to 2022, the global smart building market was driven by technological advancements like IoT (Internet of Things), AI (Artificial Intelligence), and the increasing need for energy-efficient solutions. The integration of these technologies allowed for automation in lighting, HVAC (heating, ventilation, and air conditioning), security, and energy management, making buildings more efficient and cost-effective. By 2022, the market size had grown substantially, with both new constructions and retrofits of existing buildings adopting smart solutions. The introduction of cloud-based platforms and data analytics further enhanced building management systems (BMS), optimizing operational performance.
However, as we move into 2023 and beyond, the market demand is expected to escalate even further. The increased focus on environmental sustainability, climate change mitigation, and carbon reduction goals are pushing businesses and governments to adopt green building standards. Smart buildings, which leverage data to optimize energy consumption, are at the forefront of this transition. Moreover, innovations in AI-powered analytics, predictive maintenance, and building automation systems will accelerate their implementation. By 2033, experts predict the smart buildings market will grow at an unprecedented rate, as both new technologies and regulatory pressure drive more widespread adoption of smart solutions.
The role of artificial intelligence and machine learning in smart buildings will be pivotal. These technologies allow buildings to not only automate but also predict energy usage patterns, automate lighting and temperature adjustments, and improve indoor air quality. The integration of renewable energy sources like solar panels and battery storage systems will also become increasingly prevalent in smart buildings, contributing to a more sustainable energy ecosystem.
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The Smart Buildings Market has experienced significant growth between 2018 and 2022, and the trends suggest this momentum will only increase as demand surges from 2023 to 2033. With a shift towards sustainability, energy efficiency, and enhanced user experiences, the adoption of smart building technologies has become a key focus for residential, commercial, and industrial sectors. However, the outlook for the coming decade holds substantial changes, marked by new technological innovations and shifting market dynamics.
Who are the largest Global manufacturers in the Smart Buildings industry?
- Honeywell
- Siemens
- Schneider Electric
- Johnson Controls
- United Technologies
- Bosch Security Systems
- ABB
- Advantech
- Cisco
- Control4
- Emerson
- IBM
- Panasonic
- Verdigris Technologies
- Legrand
- BuildingIQ
- Delta Controls
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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What are the factors driving the growth of the Global Smart Buildings Market?
Growing demand for below applications around the world has had a direct impact on the growth of the Global Smart Buildings Market
- Residential
- Commercial
What are the types of Smart Buildings available in the Market?
Based on Types the Market is categorized into Below types that held the largest Smart Buildings market share In 2023.
- Building Management System (BMS)
- Heating
- Ventilating
- and Air Conditioning (HVAC)
- Lighting Control
- Security and Access Control
- Emergency Alarm and Evacuation System
- Audio and Visual Effects
Which regions are leading the Global Smart Buildings Market?
- 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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Detailed TOC of Global Smart Buildings Market Research Report, 2024-2032
1. Introduction of the Global Smart Buildings 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 Buildings Market Outlook
- Overview
- Market Dynamics
- Drivers
- Restraints
- Opportunities
- Porters Five Force Model
- Value Chain Analysis
5. Global Smart Buildings Market, By Type
6. Global Smart Buildings Market, By Application
7. Global Smart Buildings Market, By Geography
- Global
- Europe
- Asia Pacific
- Rest of the World
8. Global Smart Buildings Market Competitive Landscape
- Overview
- Company Market Ranking
- Key Development Strategies
9. Company Profiles
10. Appendix
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