Smart Building Market Size, Share, and Analysis, By Component (Solutions (Building Infrastructure Management, Safety & Security Management, Energy Management, Network Management, and Others), Services (Consulting, Implementation, and Support & Maintenance)), By Application (Residential, Commercial, and Industrial), By Region (North America, Europe, Asia-Pacific, and Rest of the World), And Regional Forecast 2024-2034
Smart Building Market Size, Share, and Analysis, By Component (Solutions (Building Infrastructure Management, Safety & Security Management, Energy Management, Network Management, and Others), Services (Consulting, Implementation, and Support & Maintenance)), By Application (Residential, Commercial, and Industrial), By Region (North America, Europe, Asia-Pacific, and Rest of the World), And Regional Forecast 2024-2034
PRODUCT OVERVIEW
Smart Building Market is anticipated t%li%grow at a CAGR of 16.7% in the forecast period (2024-2034), with the market size valued at USD 92.3 billion in 2023 and projected t%li%reach USD 508.1 billion by 2034.
Smart buildings are advanced technologies and integrated systems that are used t%li%improve energy usage and comfort of occupants and simplify several operations. These structures use interconnected sensors and automation systems t%li%collect and analyze real-time data, thus providing informed decision-making and adaptive responses t%li%different conditions. Smart buildings offer notable features such as automated lighting and HVAC systems that automatically adjust based on occupancy and environmental cues, along with centralized control platforms for remote monitoring and management. Furthermore, smart buildings are focused on sustainability initiatives like the integration of renewable energy and resource efficiency t%li%improve their environmental footprint. Therefore, the objective of smart buildings is t%li%elevate functionality and user experience while simultaneously reducing expenses and carbon emissions by integrating technology and infrastructure.
MARKET HIGHLIGHTS
Smart Building Market is anticipated t%li%reach USD 508.1 billion, growing at a CAGR of 16.7% during the forecast period, due t%li%a growing focus on energy efficiency and improvements in Internet of Things technologies. The growth of the smart building market is attributed t%li%several aspects such as the implementation of strict energy regulations and a growing focus on sustainable building practices. Furthermore, government initiatives that promote smart city infrastructure and the development of urban areas are further promoting growth in the market. Industry players such as Siemens AG, Honeywell International Inc., and Johnson Controls International are actively investing in innovative solutions like integrated building management systems and smart sensors t%li%capitalize on new opportunities within the smart building market.
Smart Building Market Segments:
Growth Drivers
Technological Innovations Will Create a Favourable Environment for the Adoption of Smart Building Solutions
Growing Demand for Sustainability Will Boost the Smart Building Business
Restraint
Initial Investment Costs Can Impede Necessary Market Expansion
Key Players
PRODUCT OVERVIEW
Smart Building Market is anticipated t%li%grow at a CAGR of 16.7% in the forecast period (2024-2034), with the market size valued at USD 92.3 billion in 2023 and projected t%li%reach USD 508.1 billion by 2034.
Smart buildings are advanced technologies and integrated systems that are used t%li%improve energy usage and comfort of occupants and simplify several operations. These structures use interconnected sensors and automation systems t%li%collect and analyze real-time data, thus providing informed decision-making and adaptive responses t%li%different conditions. Smart buildings offer notable features such as automated lighting and HVAC systems that automatically adjust based on occupancy and environmental cues, along with centralized control platforms for remote monitoring and management. Furthermore, smart buildings are focused on sustainability initiatives like the integration of renewable energy and resource efficiency t%li%improve their environmental footprint. Therefore, the objective of smart buildings is t%li%elevate functionality and user experience while simultaneously reducing expenses and carbon emissions by integrating technology and infrastructure.
MARKET HIGHLIGHTS
Smart Building Market is anticipated t%li%reach USD 508.1 billion, growing at a CAGR of 16.7% during the forecast period, due t%li%a growing focus on energy efficiency and improvements in Internet of Things technologies. The growth of the smart building market is attributed t%li%several aspects such as the implementation of strict energy regulations and a growing focus on sustainable building practices. Furthermore, government initiatives that promote smart city infrastructure and the development of urban areas are further promoting growth in the market. Industry players such as Siemens AG, Honeywell International Inc., and Johnson Controls International are actively investing in innovative solutions like integrated building management systems and smart sensors t%li%capitalize on new opportunities within the smart building market.
Smart Building Market Segments:
- By Component
- Solution
- Building Infrastructure Management
- Safety and Security Management
- Energy Management
- Network Management
- Others
- Services
- Consulting
- Implementation
- Support & Maintenance
- By Application
- Residential
- Commercial
- Industrial
Growth Drivers
Technological Innovations Will Create a Favourable Environment for the Adoption of Smart Building Solutions
Growing Demand for Sustainability Will Boost the Smart Building Business
Restraint
Initial Investment Costs Can Impede Necessary Market Expansion
Key Players
- IBM Corporation
- Honeywell International Inc.
- Cisc%li%Systems, Inc.
- Siemens AG
- Johnson Controls International plc
- Schneider Electric SE
- ABB Ltd.
- Legrand
- Delta Controls Inc.
- Intel Corporation
- Huawei Technologies Co., Ltd.
- Cisc%li%Systems, Inc.
- BuildingIQ
- Hitachi, Ltd.
- United Technologies Corporation
- Other Prominent Players (Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis)
- North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAG.R – United States and Canada
- Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil and Rest of Latin America
- Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey and Rest of Europe
- Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia and Rest of APAC
- Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa and Rest of MENA
- Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
- Provision of market value (USD Billion) data for each segment and sub-segment
- Indicates the region and segment that is expected t%li%witness the fastest growth as well as t%li%dominate the market
- Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
- Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
- Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
- The current as well as the future market outlook of the industry with respect t%li%recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
- Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis
- Provides insight int%li%the market through Value Chain
- Market dynamics scenario, along with growth opportunities of the market in the years t%li%come
- 3-month post-sales analyst support.
1.EXECUTIVE SUMMARY
1.1. Regional Market Share
1.2.Business Trends
1.3. Smart Building Market: COVID-19 Outbreak
1.4. Regional Trends
1.5. Segmentation Snapshot
2. RESEARCH METHODOLOGY
2.1.Research Objective
2.2. Research Approach
2.3. Data Sourcing and Methodology
2.4.Primary Research
2.5.Secondary Research
2.5.1.Paid Sources
2.5.2. Public Sources
2.6. Market Size Estimation and Data Triangulation
3. MARKET CHARACTERISTICS
3.1.Market Definition
3.2.Smart Building Market: COVID-19 Impact
3.3. Key Segmentations
3.4.Key Developments
3.5.Allied Industry Data
4.SMART BUILDING MARKET – INDUSTRY INSIGHTS
4.1. Industry Segmentation
4.2.COVID-19 overview of world economy
4.3.Industry Ecosystem Channel Analysis
4.4.Innovation & Sustainability
5. MACROECONOMIC INDICATORS
6. RECENT DEVELOPMENTS
7. MARKET DYNAMICS
7.1.Introduction
7.2. Growth Drivers
7.3. Market Opportunities
7.4.Market Restraints
7.5. Market Trends
8.RISK ANALYSIS
9. MARKET ANALYSIS
9.1.Porter's Five Forces
9.2. PEST Analysis
9.2.1.Political
9.2.2. Economic
9.2.3. Social
9.2.4. Technological
10.SMART BUILDING MARKET
10.1.Overview
10.2. Historical Analysis (2019-2022)
10.2.1. Market Size, Y-o-Y Growth (%) and Market Forecast
11. SMART BUILDING MARKET SIZE & FORECAST 2024A-2034F
11.1. Overview
11.2.Key Findings
11.3.Market Segmentation
11.3.1.By Component
11.3.1.1. Solutions
11.3.1.1.1.Building Infrastructure Management
11.3.1.1.1.1. By Value (USD Million) 2024-2034F
11.3.1.1.1.2.Market Share (%) 2024-2034F
11.3.1.1.1.3.Y-o-Y Growth (%) 2024-2034F
11.3.1.1.2. Safety and Security Management
11.3.1.1.2.1.By Value (USD Million) 2024-2034F
11.3.1.1.2.2. Market Share (%) 2024-2034F
11.3.1.1.2.3. Y-o-Y Growth (%) 2024-2034F
11.3.1.1.3. Energy Management
11.3.1.1.3.1.By Value (USD Million) 2024-2034F
11.3.1.1.3.2. Market Share (%) 2024-2034F
11.3.1.1.3.3. Y-o-Y Growth (%) 2024-2034F
11.3.1.1.4. Network Management
11.3.1.1.4.1.By Value (USD Million) 2024-2034F
11.3.1.1.4.2. Market Share (%) 2024-2034F
11.3.1.1.4.3. Y-o-Y Growth (%) 2024-2034F
11.3.1.1.5. Others
11.3.1.1.5.1.By Value (USD Million) 2024-2034F
11.3.1.1.5.2. Market Share (%) 2024-2034F
11.3.1.1.5.3. Y-o-Y Growth (%) 2024-2034F
11.3.1.2.Services
11.3.1.2.1. Consulting
11.3.1.2.1.1.1. By Value (USD Million) 2024-2034F
11.3.1.2.1.1.2.Market Share (%) 2024-2034F
11.3.1.2.1.1.3.Y-o-Y Growth (%) 2024-2034F
11.3.1.2.2.Implementation
11.3.1.2.2.1.1.By Value (USD Million) 2024-2034F
11.3.1.2.2.1.2. Market Share (%) 2024-2034F
11.3.1.2.2.1.3. Y-o-Y Growth (%) 2024-2034F
11.3.1.2.3.Support & Maintenance
11.3.1.2.3.1.1.By Value (USD Million) 2024-2034F
11.3.1.2.3.1.2. Market Share (%) 2024-2034F
11.3.1.2.3.1.3. Y-o-Y Growth (%) 2024-2034F
11.3.2. By Application
11.3.2.1.Residential
11.3.2.1.1. By Value (USD Million) 2024-2034F
11.3.2.1.2.Market Share (%) 2024-2034F
11.3.2.1.3.Y-o-Y Growth (%) 2024-2034F
11.3.2.2. Commercial
11.3.2.2.1.By Value (USD Million) 2024-2034F
11.3.2.2.2. Market Share (%) 2024-2034F
11.3.2.2.3. Y-o-Y Growth (%) 2024-2034F
11.3.2.3. Industrial
11.3.2.3.1.By Value (USD Million) 2024-2034F
11.3.2.3.2. Market Share (%) 2024-2034F
11.3.2.3.3. Y-o-Y Growth (%) 2024-2034F
12.NORTH AMERICA SMART BUILDING MARKET SIZE & FORECAST 2024A-2034F
12.1.Overview
12.2. Key Findings
12.3. Market Segmentation
12.3.1.By Component
12.3.2. By Application
12.4. Country
12.4.1. United States
12.4.2. Canada
13.EUROPE SMART BUILDING MARKET SIZE & FORECAST 2024A-2034F
13.1.Overview
13.2. Key Findings
13.3. Market Segmentation
13.3.1.By Component
13.3.2. By Application
13.4.Country
13.4.1.Germany
13.4.2. United Kingdom
13.4.3. France
13.4.4. Italy
13.4.5. Spain
13.4.6. Russia
13.4.7. Rest of Europe (BENELUX, NORDIC, Hungary, Turkey & Poland)
14.ASIA-PACIFIC SMART BUILDING MARKET SIZE & FORECAST 2024A-2034F
14.1. Overview
14.2. Key Findings
14.3.Market Segmentation
14.3.1.By Component
14.3.2. By Application
14.4. Country
14.4.1.India
14.4.2. China
14.4.3. South Korea
14.4.4.Japan
14.4.5.Rest of APAC
15.MIDDLE EAST AND AFRICA SMART BUILDING MARKET SIZE & FORECAST 2024A-2034F
15.1.Overview
15.2. Key Findings
15.3. Market Segmentation
15.3.1.By Component
15.3.2. By Application
15.4.Country
15.4.1. Israel
15.4.2. GCC
15.4.3. North Africa
15.4.4.South Africa
15.4.5. Rest of Middle East and Africa
16. LATIN AMERICA SMART BUILDING MARKET SIZE & FORECAST 2024A-2034F
16.1.Overview
16.2. Key Findings
16.3. Market Segmentation
16.3.1.By Component
16.3.2. By Application
16.4.Country
16.4.1. Mexico
16.4.2. Brazil
16.4.3. Rest of Latin America
17. COMPETITIVE LANDSCAPE
17.1.Company market share, 2023
17.2. Key player overview
17.3. Key stakeholders
18. COMPANY PROFILES
18.1.IBM Corporations
18.1.1.Company Overview
18.1.2.Financial Overview
18.1.3.Key Product; Analysis
18.1.4.Company Assessment
18.1.4.1.Product Portfolio
18.1.4.2.Key Clients
18.1.4.3. Market Share
18.1.4.4. Recent News & Development (Last 3 Yrs.)
18.1.4.5. Executive Team
18.2.Honeywell International Inc.
18.3.Cisco Systems, Inc.
18.4.Siemens AG
18.5.Johnson Controls International plc
18.6.Schneider Electric SE
18.7.ABB Ltd.
18.8.Legrand
18.9.Delta Controls Inc.
18.10.Intel Corporation
18.11. Huawei Technologies Co., Ltd.
18.12.Cisco Systems, Inc.
18.13.BuildingIQ
18.14. Hitachi, Ltd.
18.15.United Technologies Corporation
18.16.Other Prominent Players
19. APPENDIX
20.CONSULTANT RECOMMENDATION
1.1. Regional Market Share
1.2.Business Trends
1.3. Smart Building Market: COVID-19 Outbreak
1.4. Regional Trends
1.5. Segmentation Snapshot
2. RESEARCH METHODOLOGY
2.1.Research Objective
2.2. Research Approach
2.3. Data Sourcing and Methodology
2.4.Primary Research
2.5.Secondary Research
2.5.1.Paid Sources
2.5.2. Public Sources
2.6. Market Size Estimation and Data Triangulation
3. MARKET CHARACTERISTICS
3.1.Market Definition
3.2.Smart Building Market: COVID-19 Impact
3.3. Key Segmentations
3.4.Key Developments
3.5.Allied Industry Data
4.SMART BUILDING MARKET – INDUSTRY INSIGHTS
4.1. Industry Segmentation
4.2.COVID-19 overview of world economy
4.3.Industry Ecosystem Channel Analysis
4.4.Innovation & Sustainability
5. MACROECONOMIC INDICATORS
6. RECENT DEVELOPMENTS
7. MARKET DYNAMICS
7.1.Introduction
7.2. Growth Drivers
7.3. Market Opportunities
7.4.Market Restraints
7.5. Market Trends
8.RISK ANALYSIS
9. MARKET ANALYSIS
9.1.Porter's Five Forces
9.2. PEST Analysis
9.2.1.Political
9.2.2. Economic
9.2.3. Social
9.2.4. Technological
10.SMART BUILDING MARKET
10.1.Overview
10.2. Historical Analysis (2019-2022)
10.2.1. Market Size, Y-o-Y Growth (%) and Market Forecast
11. SMART BUILDING MARKET SIZE & FORECAST 2024A-2034F
11.1. Overview
11.2.Key Findings
11.3.Market Segmentation
11.3.1.By Component
11.3.1.1. Solutions
11.3.1.1.1.Building Infrastructure Management
11.3.1.1.1.1. By Value (USD Million) 2024-2034F
11.3.1.1.1.2.Market Share (%) 2024-2034F
11.3.1.1.1.3.Y-o-Y Growth (%) 2024-2034F
11.3.1.1.2. Safety and Security Management
11.3.1.1.2.1.By Value (USD Million) 2024-2034F
11.3.1.1.2.2. Market Share (%) 2024-2034F
11.3.1.1.2.3. Y-o-Y Growth (%) 2024-2034F
11.3.1.1.3. Energy Management
11.3.1.1.3.1.By Value (USD Million) 2024-2034F
11.3.1.1.3.2. Market Share (%) 2024-2034F
11.3.1.1.3.3. Y-o-Y Growth (%) 2024-2034F
11.3.1.1.4. Network Management
11.3.1.1.4.1.By Value (USD Million) 2024-2034F
11.3.1.1.4.2. Market Share (%) 2024-2034F
11.3.1.1.4.3. Y-o-Y Growth (%) 2024-2034F
11.3.1.1.5. Others
11.3.1.1.5.1.By Value (USD Million) 2024-2034F
11.3.1.1.5.2. Market Share (%) 2024-2034F
11.3.1.1.5.3. Y-o-Y Growth (%) 2024-2034F
11.3.1.2.Services
11.3.1.2.1. Consulting
11.3.1.2.1.1.1. By Value (USD Million) 2024-2034F
11.3.1.2.1.1.2.Market Share (%) 2024-2034F
11.3.1.2.1.1.3.Y-o-Y Growth (%) 2024-2034F
11.3.1.2.2.Implementation
11.3.1.2.2.1.1.By Value (USD Million) 2024-2034F
11.3.1.2.2.1.2. Market Share (%) 2024-2034F
11.3.1.2.2.1.3. Y-o-Y Growth (%) 2024-2034F
11.3.1.2.3.Support & Maintenance
11.3.1.2.3.1.1.By Value (USD Million) 2024-2034F
11.3.1.2.3.1.2. Market Share (%) 2024-2034F
11.3.1.2.3.1.3. Y-o-Y Growth (%) 2024-2034F
11.3.2. By Application
11.3.2.1.Residential
11.3.2.1.1. By Value (USD Million) 2024-2034F
11.3.2.1.2.Market Share (%) 2024-2034F
11.3.2.1.3.Y-o-Y Growth (%) 2024-2034F
11.3.2.2. Commercial
11.3.2.2.1.By Value (USD Million) 2024-2034F
11.3.2.2.2. Market Share (%) 2024-2034F
11.3.2.2.3. Y-o-Y Growth (%) 2024-2034F
11.3.2.3. Industrial
11.3.2.3.1.By Value (USD Million) 2024-2034F
11.3.2.3.2. Market Share (%) 2024-2034F
11.3.2.3.3. Y-o-Y Growth (%) 2024-2034F
12.NORTH AMERICA SMART BUILDING MARKET SIZE & FORECAST 2024A-2034F
12.1.Overview
12.2. Key Findings
12.3. Market Segmentation
12.3.1.By Component
12.3.2. By Application
12.4. Country
12.4.1. United States
12.4.2. Canada
13.EUROPE SMART BUILDING MARKET SIZE & FORECAST 2024A-2034F
13.1.Overview
13.2. Key Findings
13.3. Market Segmentation
13.3.1.By Component
13.3.2. By Application
13.4.Country
13.4.1.Germany
13.4.2. United Kingdom
13.4.3. France
13.4.4. Italy
13.4.5. Spain
13.4.6. Russia
13.4.7. Rest of Europe (BENELUX, NORDIC, Hungary, Turkey & Poland)
14.ASIA-PACIFIC SMART BUILDING MARKET SIZE & FORECAST 2024A-2034F
14.1. Overview
14.2. Key Findings
14.3.Market Segmentation
14.3.1.By Component
14.3.2. By Application
14.4. Country
14.4.1.India
14.4.2. China
14.4.3. South Korea
14.4.4.Japan
14.4.5.Rest of APAC
15.MIDDLE EAST AND AFRICA SMART BUILDING MARKET SIZE & FORECAST 2024A-2034F
15.1.Overview
15.2. Key Findings
15.3. Market Segmentation
15.3.1.By Component
15.3.2. By Application
15.4.Country
15.4.1. Israel
15.4.2. GCC
15.4.3. North Africa
15.4.4.South Africa
15.4.5. Rest of Middle East and Africa
16. LATIN AMERICA SMART BUILDING MARKET SIZE & FORECAST 2024A-2034F
16.1.Overview
16.2. Key Findings
16.3. Market Segmentation
16.3.1.By Component
16.3.2. By Application
16.4.Country
16.4.1. Mexico
16.4.2. Brazil
16.4.3. Rest of Latin America
17. COMPETITIVE LANDSCAPE
17.1.Company market share, 2023
17.2. Key player overview
17.3. Key stakeholders
18. COMPANY PROFILES
18.1.IBM Corporations
18.1.1.Company Overview
18.1.2.Financial Overview
18.1.3.Key Product; Analysis
18.1.4.Company Assessment
18.1.4.1.Product Portfolio
18.1.4.2.Key Clients
18.1.4.3. Market Share
18.1.4.4. Recent News & Development (Last 3 Yrs.)
18.1.4.5. Executive Team
18.2.Honeywell International Inc.
18.3.Cisco Systems, Inc.
18.4.Siemens AG
18.5.Johnson Controls International plc
18.6.Schneider Electric SE
18.7.ABB Ltd.
18.8.Legrand
18.9.Delta Controls Inc.
18.10.Intel Corporation
18.11. Huawei Technologies Co., Ltd.
18.12.Cisco Systems, Inc.
18.13.BuildingIQ
18.14. Hitachi, Ltd.
18.15.United Technologies Corporation
18.16.Other Prominent Players
19. APPENDIX
20.CONSULTANT RECOMMENDATION
