Global Smart Spaces Market to Reach $89.2 Billion by 2030
The global market for Smart Spaces estimated at US$38.2 Billion in the year 2023, is expected to reach US$89.2 Billion by 2030, growing at a CAGR of 12.9% over the analysis period 2023-2030. Smart Spaces Hardware, one of the segments analyzed in the report, is expected to record a 11.7% CAGR and reach US$49.1 Billion by the end of the analysis period. Growth in the Smart Spaces Software segment is estimated at 13.5% CAGR for the next 7-year period.
The U.S. Market is Estimated at $11.3 Billion, While China is Forecast to Grow at 12% CAGR
The Smart Spaces market in the U.S. is estimated at US$11.3 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$15.1 Billion by the year 2030 trailing a CAGR of 12% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 11.8% and 11% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 9.1% CAGR.
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