Smart Building Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Smart Building Market
The Smart Building market size was valued at USD 96.96 billion in 2023, and the market is now projected to grow from USD 117.42 billion in 2024 to USD 568.02 billion by 2032, exhibiting a CAGR of 21.8% during the forecast period of 2023-2030.
The reopening of business houses positioned up-pandemic for in-workplace paintings is predicted to surge the decision for clever technology for a stable environment. The commercial enterprise building facility managers and the company tenants ought to provide a safe place of work environment put up-lockdown.
The growing concerns about increasing electricity intake global are expected to fuel extra superior and electricity-green era. However, smart buildings contribute closer to sustainability that starts at the development section. Emission tiers are reduced by means of the use of environment-friendly substances. This leads to smart building market growth.
Rapid urbanization is anticipated to boost up the worldwide clever constructing marketplace boom inside the imminent years. This aspect might surge the demand for homes and spaces for sustaining livelihood and work requirements. Considering the urbanization fashion, governments worldwide spend money on clever city projects with superior infrastructure, cleanser transportation, smart homes, and other smart era.
Comprehensive Analysis of Smart Building Market
The Smart Building market is rising at an exponential charge due to its marketplace segmentation. This marketplace enlargement successfully gives a detailed local checks considering the dominant supply and demand forces that impact the enterprise. Based on component, the market is bifurcated into solution and services. By application, the market is classified into residential and commercial.
North America has the largest Smart Building market share. Prominent businesses throughout nearby industries are shifting towards sensible building solutions to reinforce workplace operations. The U.S. Led the area’s proportion, attributable to increasing investments in inexperienced building era.
The top players in the market play a crucial role in the Smart Building industry assuring industrial prospectus growth and setting market standards. These players include, Honeywell International Inc. (U.S.), Cisco Systems, Inc. (U.S.), Siemens AG (Germany), ABB Ltd. (Switzerland), IBM Corporation (U.S.), Schneider Electric SE (France), Endeavor Business Media (U.S.), Legrand SA (U.S.), Johnson Controls Inc. (U.S.), and Hitachi, Ltd. (U.S.).
In June 2023, Cisco Canada, in partnership with Sentiom, launched a brand new clever constructing approach to mitigate water and hearth damage in multi-residential homes.
Segmentation Table
ATTRIBUTE DETAILS
Study Period 2019-2032
Base Year 2023
Estimated Year 2024
Forecast Period 2024-2032
Historical Period 2019-2022
Growth Rate CAGR of 21.8% from 2024 to 2032
Unit Value (USD billion)
Segmentation By Component
Solution
- Building Infrastructure Management
- Parking Management System
- Smart Water Management System
- Elevators and Escalators System
- Security and Emergency Management
- Access Control System
- Video Surveillance System
- Safety System
- Energy Management
- HVAC Control System
- Lighting Control System
Services
By Application
Residential
Commercial
- Hotel
- Healthcare
- Retail
- Corporate Offices
- Others (Apartments, Condos)
By Region
North America (By Component, By Application, and By Country)
- U.S. (By Solution)
- Canada (By Solution)
- Mexico (By Solution)
Europe (By Component, By Application, and By Country)
- U.K. (By Solution)
- Germany (By Solution)
- France (By Solution)
- Italy (By Solution)
- Spain (By Solution)
- Russia (By Solution)
- Benelux (By Solution)
- Nordics (By Solution)
- Rest of Europe (By Solution)
Middle East & Africa (By Component, By Application, and By Country)
- Turkey (By Solution)
- Israel (By Solution)
- GCC (By Solution)
- North Africa (By Solution)
- South Africa (By Solution)
- Rest of the Middle East & Africa (By Solution)
Asia Pacific (By Component, By Application, and By Country)
- China (By Solution)
- India (By Solution)
- Japan (By Solution)
- South Korea (By Solution)
- ASEAN (By Solution)
- Oceania (By Solution)
- Rest of Asia Pacific (By Solution)
South America (By Component, By Application, and By Country)
- Brazil (By Solution)
- Argentina (By Solution)
- Rest of South America (By Solution)
- 1. Introduction
- 1.1. Definition, By Segment
- 1.2. Research Methodology/Approach
- 1.3. Data Sources
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Macro and Micro Economic Indicators
- 3.2. Drivers, Restraints, Opportunities and Trends
- 4. Competition Landscape
- 4.1. Business Strategies Adopted by Key Players
- 4.2. Consolidated SWOT Analysis of Key Players
- 4.3. Global Smart Building Key Players Market Share/Ranking, 2023
- 5. Global Smart Building Market Size Estimates and Forecasts, By Segments, 2019-2032
- 5.1. Key Findings
- 5.2. By Component (USD)
- 5.2.1. Solution
- 5.2.1.1. Building Infrastructure Management
- 5.2.1.1.1. Parking Management System
- 5.2.1.1.2. Smart Water Management System
- 5.2.1.1.3. Elevators and Escalators System
- 5.2.1.2. Security and Emergency Management
- 5.2.1.2.1. Access Control System
- 5.2.1.2.2. Video Surveillance System
- 5.2.1.2.3. Safety System
- 5.2.1.3. Energy Management
- 5.2.1.3.1. HVAC Control System
- 5.2.1.3.2. Lighting Control System
- 5.2.2. Services
- 5.3. By Application (USD)
- 5.3.1. Residential
- 5.3.2. Commercial
- 5.3.2.1. Hotel
- 5.3.2.2. Healthcare
- 5.3.2.3. Retail
- 5.3.2.4. Corporate Offices
- 5.3.2.5. Others (Apartments, Condos, etc.)
- 5.4. By Region (USD)
- 5.4.1. North America
- 5.4.2. South America
- 5.4.3. Europe
- 5.4.4. Middle East & Africa
- 5.4.5. Asia Pacific
- 6. North America Smart Building Market Size Estimates and Forecasts, By Segments, 2019-2032
- 6.1. Key Findings
- 6.2. By Component (USD)
- 6.2.1. Solution
- 6.2.1.1. Building Infrastructure Management
- 6.2.1.1.1. Parking Management System
- 6.2.1.1.2. Smart Water Management System
- 6.2.1.1.3. Elevators and Escalators System
- 6.2.1.2. Security and Emergency Management
- 6.2.1.2.1. Access Control System
- 6.2.1.2.2. Video Surveillance System
- 6.2.1.2.3. Safety System
- 6.2.1.3. Energy Management
- 6.2.1.3.1. HVAC Control System
- 6.2.1.3.2. Lighting Control System
- 6.2.2. Services
- 6.3. By Application (USD)
- 6.3.1. Residential
- 6.3.2. Commercial
- 6.3.2.1. Hotel
- 6.3.2.2. Healthcare
- 6.3.2.3. Retail
- 6.3.2.4. Corporate Offices
- 6.3.2.5. Others (Apartments, Condos, etc.)
- 6.4. By Country (USD)
- 6.4.1. United States
- 6.4.1.1. By Solution
- 6.4.2. Canada
- 6.4.2.1. By Solution
- 6.4.3. Mexico
- 6.4.3.1. By Solution
- 7. South America Smart Building Market Size Estimates and Forecasts, By Segments, 2019-2032
- 7.1. Key Findings
- 7.2. By Component (USD)
- 7.2.1. Solution
- 7.2.1.1. Building Infrastructure Management
- 7.2.1.1.1. Parking Management System
- 7.2.1.1.2. Smart Water Management System
- 7.2.1.1.3. Elevators and Escalators System
- 7.2.1.2. Security and Emergency Management
- 7.2.1.2.1. Access Control System
- 7.2.1.2.2. Video Surveillance System
- 7.2.1.2.3. Safety System
- 7.2.1.3. Energy Management
- 7.2.1.3.1. HVAC Control System
- 7.2.1.3.2. Lighting Control System
- 7.2.2. Services
- 7.3. By Application (USD)
- 7.3.1. Residential
- 7.3.2. Commercial
- 7.3.2.1. Hotel
- 7.3.2.2. Healthcare
- 7.3.2.3. Retail
- 7.3.2.4. Corporate Offices
- 7.3.2.5. Others (Apartments, Condos, etc.)
- 7.4. By Country (USD)
- 7.4.1. Brazil
- 7.4.1.1. By Solution
- 7.4.2. Argentina
- 7.4.2.1. By Solution
- 7.4.3. Rest of South America
- 8. Europe Smart Building Market Size Estimates and Forecasts, By Segments, 2019-2032
- 8.1. Key Findings
- 8.2. By Component (USD)
- 8.2.1. Solution
- 8.2.1.1. Building Infrastructure Management
- 8.2.1.1.1. Parking Management System
- 8.2.1.1.2. Smart Water Management System
- 8.2.1.1.3. Elevators and Escalators System
- 8.2.1.2. Security and Emergency Management
- 8.2.1.2.1. Access Control System
- 8.2.1.2.2. Video Surveillance System
- 8.2.1.2.3. Safety System
- 8.2.1.3. Energy Management
- 8.2.1.3.1. HVAC Control System
- 8.2.1.3.2. Lighting Control System
- 8.2.2. Services
- 8.3. By Application (USD)
- 8.3.1. Residential
- 8.3.2. Commercial
- 8.3.2.1. Hotel
- 8.3.2.2. Healthcare
- 8.3.2.3. Retail
- 8.3.2.4. Corporate Offices
- 8.3.2.5. Others (Apartments, Condos, etc.)
- 8.4. By Country (USD)
- 8.4.1. United Kingdom
- 8.4.1.1. By Solution
- 8.4.2. Germany
- 8.4.2.1. By Solution
- 8.4.3. France
- 8.4.3.1. By Solution
- 8.4.4. Italy
- 8.4.4.1. By Solution
- 8.4.5. Spain
- 8.4.5.1. By Solution
- 8.4.6. Russia
- 8.4.6.1. By Solution
- 8.4.7. Benelux
- 8.4.7.1. By Solution
- 8.4.8. Nordics
- 8.4.8.1. By Solution
- 8.4.9. Rest of Europe
- 9. Middle East & Africa Smart Building Market Size Estimates and Forecasts, By Segments, 2019-2032
- 9.1. Key Findings
- 9.2. By Component (USD)
- 9.2.1. Solution
- 9.2.1.1. Building Infrastructure Management
- 9.2.1.1.1. Parking Management System
- 9.2.1.1.2. Smart Water Management System
- 9.2.1.1.3. Elevators and Escalators System
- 9.2.1.2. Security and Emergency Management
- 9.2.1.2.1. Access Control System
- 9.2.1.2.2. Video Surveillance System
- 9.2.1.2.3. Safety System
- 9.2.1.3. Energy Management
- 9.2.1.3.1. HVAC Control System
- 9.2.1.3.2. Lighting Control System
- 9.2.2. Services
- 9.3. By Application (USD)
- 9.3.1. Residential
- 9.3.2. Commercial
- 9.3.2.1. Hotel
- 9.3.2.2. Healthcare
- 9.3.2.3. Retail
- 9.3.2.4. Corporate Offices
- 9.3.2.5. Others (Apartments, Condos, etc.)
- 9.4. By Country (USD)
- 9.4.1. Turkey
- 9.4.1.1. By Solution
- 9.4.2. Israel
- 9.4.2.1. By Solution
- 9.4.3. GCC
- 9.4.3.1. By Solution
- 9.4.4. North Africa
- 9.4.4.1. By Solution
- 9.4.5. South Africa
- 9.4.5.1. By Solution
- 9.4.6. Rest of MEA
- 10. Asia Pacific Smart Building Market Size Estimates and Forecasts, By Segments, 2019-2032
- 10.1. Key Findings
- 10.2. By Component (USD)
- 10.2.1. Solution
- 10.2.1.1. Building Infrastructure Management
- 10.2.1.1.1. Parking Management System
- 10.2.1.1.2. Smart Water Management System
- 10.2.1.1.3. Elevators and Escalators System
- 10.2.1.2. Security and Emergency Management
- 10.2.1.2.1. Access Control System
- 10.2.1.2.2. Video Surveillance System
- 10.2.1.2.3. Safety System
- 10.2.1.3. Energy Management
- 10.2.1.3.1. HVAC Control System
- 10.2.1.3.2. Lighting Control System
- 10.2.2. Services
- 10.3. By Application (USD)
- 10.3.1. Residential
- 10.3.2. Commercial
- 10.3.2.1. Hotel
- 10.3.2.2. Healthcare
- 10.3.2.3. Retail
- 10.3.2.4. Corporate Offices
- 10.3.2.5. Others (Apartments, Condos, etc.)
- 10.4. By Country (USD)
- 10.4.1. China
- 10.4.1.1. By Solution
- 10.4.2. India
- 10.4.2.1. By Solution
- 10.4.3. Japan
- 10.4.3.1. By Solution
- 10.4.4. South Korea
- 10.4.4.1. By Solution
- 10.4.5. ASEAN
- 10.4.5.1. By Solution
- 10.4.6. Oceania
- 10.4.6.1. By Solution
- 10.4.7. Rest of Asia Pacific
- 11. Company Profiles for Top 10 Players (Based on data availability in public domain and/or on paid databases)
- 11.1. Cisco Systems, Inc.
- 11.1.1. Overview
- 11.1.1.1. Key Management
- 11.1.1.2. Headquarters
- 11.1.1.3. Offerings/Business Segments
- 11.1.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.1.2.1. Employee Size
- 11.1.2.2. Past and Current Revenue
- 11.1.2.3. Geographical Share
- 11.1.2.4. Business Segment Share
- 11.1.2.5. Recent Developments
- 11.2. Siemens AG
- 11.2.1. Overview
- 11.2.1.1. Key Management
- 11.2.1.2. Headquarters
- 11.2.1.3. Offerings/Business Segments
- 11.2.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.2.2.1. Employee Size
- 11.2.2.2. Past and Current Revenue
- 11.2.2.3. Geographical Share
- 11.2.2.4. Business Segment Share
- 11.2.2.5. Recent Developments
- 11.3. ABB Ltd.
- 11.3.1. Overview
- 11.3.1.1. Key Management
- 11.3.1.2. Headquarters
- 11.3.1.3. Offerings/Business Segments
- 11.3.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.3.2.1. Employee Size
- 11.3.2.2. Past and Current Revenue
- 11.3.2.3. Geographical Share
- 11.3.2.4. Business Segment Share
- 11.3.2.5. Recent Developments
- 11.4. Schneider Electric SE
- 11.4.1. Overview
- 11.4.1.1. Key Management
- 11.4.1.2. Headquarters
- 11.4.1.3. Offerings/Business Segments
- 11.4.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.4.2.1. Employee Size
- 11.4.2.2. Past and Current Revenue
- 11.4.2.3. Geographical Share
- 11.4.2.4. Business Segment Share
- 11.4.2.5. Recent Developments
- 11.5. Endeavor Business Media
- 11.5.1. Overview
- 11.5.1.1. Key Management
- 11.5.1.2. Headquarters
- 11.5.1.3. Offerings/Business Segments
- 11.5.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.5.2.1. Employee Size
- 11.5.2.2. Past and Current Revenue
- 11.5.2.3. Geographical Share
- 11.5.2.4. Business Segment Share
- 11.5.2.5. Recent Developments
- 11.6. IBM Corporation
- 11.6.1. Overview
- 11.6.1.1. Key Management
- 11.6.1.2. Headquarters
- 11.6.1.3. Offerings/Business Segments
- 11.6.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.6.2.1. Employee Size
- 11.6.2.2. Past and Current Revenue
- 11.6.2.3. Geographical Share
- 11.6.2.4. Business Segment Share
- 11.6.2.5. Recent Developments
- 11.7. Legrand SA
- 11.7.1. Overview
- 11.7.1.1. Key Management
- 11.7.1.2. Headquarters
- 11.7.1.3. Offerings/Business Segments
- 11.7.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.7.2.1. Employee Size
- 11.7.2.2. Past and Current Revenue
- 11.7.2.3. Geographical Share
- 11.7.2.4. Business Segment Share
- 11.7.2.5. Recent Developments
- 11.8. Honeywell International Inc.
- 11.8.1. Overview
- 11.8.1.1. Key Management
- 11.8.1.2. Headquarters
- 11.8.1.3. Offerings/Business Segments
- 11.8.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.8.2.1. Employee Size
- 11.8.2.2. Past and Current Revenue
- 11.8.2.3. Geographical Share
- 11.8.2.4. Business Segment Share
- 11.8.2.5. Recent Developments
- 11.9. Johnson Controls Inc.
- 11.9.1. Overview
- 11.9.1.1. Key Management
- 11.9.1.2. Headquarters
- 11.9.1.3. Offerings/Business Segments
- 11.9.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.9.2.1. Employee Size
- 11.9.2.2. Past and Current Revenue
- 11.9.2.3. Geographical Share
- 11.9.2.4. Business Segment Share
- 11.9.2.5. Recent Developments
- 11.10. Hitachi, Ltd.
- 11.10.1. Overview
- 11.10.1.1. Key Management
- 11.10.1.2. Headquarters
- 11.10.1.3. Offerings/Business Segments
- 11.10.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.10.2.1. Employee Size
- 11.10.2.2. Past and Current Revenue
- 11.10.2.3. Geographical Share
- 11.10.2.4. Business Segment Share
- 11.10.2.5. Recent Developments
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