Global Smart Building Market size will garner appreciable gains over 2023-2032. Surging integration of AI and IoT in buildings is working in favor of industry growth. These technologies help provide meaningful insights and real-time data about the building's performance and help owners optimize building operations and enhance the safety and comfort of occupants. IoT devices, such as surveillance cameras and access control systems, are increasingly being integrated with AI-powered analytics to improve the security and safety aspects of buildings.
Moreover, many prominent market players operating in the field are constantly investing in product innovations to retain their industry standing. Citing an instance, in November 2022, Hitachi Elevator (Thailand) Co., Ltd unveiled the launch of a first-ever full-scale smart building solution business in Thailand and Southeast Asia, which aims to provide value to buildings with digital service and physical security systems.
The overall smart building industry is segmented based on component, application, and region.
Based on components, the smart building industry size from the services segment was worth more than USD 25 billion in 2022. High availability of professional building services is creating a strong scope for segment growth. Moreover, building service providers are focusing on utilizing advanced technology and equipment to enhance productivity, accuracy, and safety in their operations. They are also emphasizing conducting energy audits and assessments to evaluate the energy performance of buildings, which will bolster segmental gains in the long run.
In terms of application, the market size from the residential application segment recorded a decent valuation in 2022. Growing advancements in smart home automation are shaping the segment outlook. In fact, sensor technology in smart homes has gained immense traction. Motion sensors, occupancy sensors, light sensors, and environmental sensors are now more accurate and responsive. Especially, occupancy sensors can be used to control lighting, heating, ventilation, and air conditioning (HVAC) systems, ensuring energy efficiency by automatically adjusting settings based on occupancy.
From the regional perspective, Europe smart building market share will expand at a considerable CAGR from 2023 to 2032. Rising inclination towards energy-efficient systems owing to the ongoing energy crisis in the region has encouraged the adoption of the smart building concept. As part of its Economic and Social Resilience Plan, the government of France has announced to invest EUR 50 million (USD 53 million) to retrofit its public buildings to make them energy-efficient.
Moreover, the presence of key industry players such as ABB Limited and others prioritizing innovations is further streamlining regional market growth.
Table of Contents
Chapter 1 Methodology & Scope
- 1.1 Market definition
- 1.2 Base estimates & forecast
- 1.3 Forecast calculations
- 1.4 Data Sources
- 1.4.1 Secondary
- 1.4.2 Primary
Chapter 2 Executive Summary
- 2.1 Smart building industry 360 degree synopsis, 2018 - 2032
- 2.2 Business trends
- 2.2.1 Total addressable market (TAM) trends, 2023 - 2032
- 2.3 Regional trends
- 2.4 Component trends
- 2.5 Application trends
Chapter 3 Smart Building Industry Insights
- 3.1 Impact of COVID-19 outbreak
- 3.1.1 North America
- 3.1.2 Europe
- 3.1.3 Asia Pacific
- 3.1.4 Latin America
- 3.1.5 MEA
- 3.2 Impact analysis of Russia-Ukraine war
- 3.3 Impact of China-US trade war
- 3.4 Impact on value chain
- 3.5 Smart building industry ecosystem analysis
- 3.5.1 Hardware providers
- 3.5.2 Automation and technology providers
- 3.5.3 Clous services providers
- 3.5.4 Distribution channel analysis
- 3.5.5 End-users
- 3.5.6 Vendor matrix
- 3.6 Technology & innovation landscape
- 3.6.1 AI/Machine learning
- 3.6.2 IoT
- 3.6.3 BIM
- 3.6.4 Blockchain
- 3.6.5 Edge analytics
- 3.6.6 Digital twin
- 3.7 Smart building architecture
- 3.8 Evolution of smart building
- 3.9 Profit margin analysis
- 3.10 Regulatory landscape
- 3.10.1 North America
- 3.10.2 Europe
- 3.10.3 Asia Pacific
- 3.10.4 Latin America
- 3.10.5 MEA
- 3.11 Patent analysis
- 3.12 Key initiatives & news
- 3.13 Industry impact forces
- 3.13.1 Growth drivers
- 3.13.1.1 Growing IoT and AI integration in building solutions
- 3.13.1.2 Government initiatives to reduce energy consumption
- 3.13.1.3 Increasing investment in smart city projects
- 3.13.1.4 Increasing focus on occupant comfort and safety
- 3.13.1.5 Rising interest to achieve sustainable goals
- 3.13.2 Industry pitfalls and challenges
- 3.13.2.1 High cost of investment
- 3.13.2.2 Government policies for data privacy
- 3.14 Growth potential analysis
- 3.15 Porter's analysis
- 3.16 PESTEL analysis
Chapter 4 Competitive Landscape, 2022
- 4.1 Introduction
- 4.2 Company market share, 2022
- 4.3 Competitive analysis of major smart building providers, 2022
- 4.3.1 Microsoft Corporation
- 4.3.2 Intel Corporation
- 4.3.3 ABB LTD
- 4.3.4 Huawei
- 4.3.5 Hitachi LTD
- 4.3.6 Johnson Control
- 4.4 Competitive positioning matrix
- 4.5 Strategic outlook matrix
Chapter 5 Smart Building Market, By Component
- 5.1 Key trends, by component
- 5.2 Solutions
- 5.2.1 Market estimates and forecast, 2018 - 2032
- 5.2.2 Energy management
- 5.2.2.1 Market estimates and forecast, 2018 - 2032
- 5.2.3 Infrastructure management
- 5.2.3.1 Market estimates and forecast, 2018 - 2032
- 5.2.4 Safety and security management
- 5.2.4.1 Market estimates and forecast, 2018 - 2032
- 5.2.5 Network management
- 5.2.5.1 Market estimates and forecast, 2018 - 2032
- 5.2.6 Workplace management
- 5.2.6.1 Market estimates and forecast, 2018 - 2032
- 5.3 Services
- 5.3.1 Market estimates and forecast, 2018 - 2032
- 5.3.2 Consulting
- 5.3.2.1 Market estimates and forecast, 2018 - 2032
- 5.3.3 Deployment and Integration
- 5.3.3.1 Market estimates and forecast, 2018 - 2032
- 5.3.4 Infrastructure Monitoring and Management
- 5.3.4.1 Market estimates and forecast, 2018 - 2032
Chapter 6 Smart Building Market, By Application
- 6.1 Key trends, by application
- 6.2 Commercial
- 6.2.1 Market estimates and forecast, 2018 - 2032
- 6.2.2 Market estimates and forecast, by component, 2018 - 2032
- 6.2.2.1 Market estimates and forecast, by solution, 2018 - 2032
- 6.3 Residential
- 6.3.1 Market estimates and forecast, 2018 - 2032
- 6.3.2 Market estimates and forecast, by component, 2018 - 2032
- 6.3.2.1 Market estimates and forecast, by solution, 2018 - 2032
Chapter 7 Smart Building Market, By Region
- 7.1 Key trends, by region
- 7.2 North America
- 7.2.1 Market estimates and forecast, 2018 - 2032
- 7.2.2 Market estimates and forecast, by component, 2018 - 2032
- 7.2.3 Market estimates and forecast, by application, 2018 - 2032
- 7.2.3.1 Market estimates and forecast, by component, 2018 - 2032
- 7.2.3.2 Market estimates and forecast, by solution, 2018 - 2032
- 7.2.4 U.S.
- 7.2.4.1 Market estimates and forecast, 2018 - 2032
- 7.2.4.2 Market estimates and forecast, by component, 2018 - 2032
- 7.2.4.3 Market estimates and forecast, by application, 2018 - 2032
- 7.2.4.3.1 Market estimates and forecast, by component, 2018-2032
- 7.2.4.3.2 Market estimates and forecast, by solution, 2018-2032
- 7.2.5 Canada
- 7.2.5.1 Market estimates and forecast, 2018 - 2032
- 7.2.5.2 Market estimates and forecast, by component, 2018 - 2032
- 7.2.5.3 Market estimates and forecast, by application, 2018 - 2032
- 7.2.5.3.1 Market estimates and forecast, by component, 2018-2032
- 7.2.5.3.2 Market estimates and forecast, by solution, 2018-2032
- 7.3 Europe
- 7.3.1 Market estimates and forecast, 2018 - 2032
- 7.3.2 Market estimates and forecast, by component, 2018 - 2032
- 7.3.3 Market estimates and forecast, by application, 2018 - 2032
- 7.3.3.1 Market estimates and forecast, by component, 2018 - 2032
- 7.3.3.2 Market estimates and forecast, by solution, 2018 - 2032
- 7.3.4 UK
- 7.3.4.1 Market estimates and forecast, 2018 - 2032
- 7.3.4.2 Market estimates and forecast, by component, 2018 - 2032
- 7.3.4.3 Market estimates and forecast, by application, 2018 - 2032
- 7.3.4.3.1 Market estimates and forecast, by component, 2018-2032
- 7.3.4.3.2 Market estimates and forecast, by solution, 2018-2032
- 7.3.5 Germany
- 7.3.5.1 Market estimates and forecast, 2018 - 2032
- 7.3.5.2 Market estimates and forecast, by component, 2018 - 2032
- 7.3.5.3 Market estimates and forecast, by application, 2018 - 2032
- 7.3.5.3.1 Market estimates and forecast, by component, 2018-2032
- 7.3.5.3.2 Market estimates and forecast, by solution, 2018-2032
- 7.3.6 France
- 7.3.6.1 Market estimates and forecast, 2018 - 2032
- 7.3.6.2 Market estimates and forecast, by component, 2018 - 2032
- 7.3.6.3 Market estimates and forecast, by application, 2018 - 2032
- 7.3.6.3.1 Market estimates and forecast, by component, 2018-2032
- 7.3.6.3.2 Market estimates and forecast, by solution, 2018-2032
- 7.3.7 Sweden
- 7.3.7.1 Market estimates and forecast, 2018 - 2032
- 7.3.7.2 Market estimates and forecast, by component, 2018 - 2032
- 7.3.7.3 Market estimates and forecast, by application, 2018 - 2032
- 7.3.7.3.1 Market estimates and forecast, by component, 2018-2032
- 7.3.7.3.2 Market estimates and forecast, by solution, 2018-2032
- 7.3.8 Netherlands
- 7.3.8.1 Market estimates and forecast, 2018 - 2032
- 7.3.8.2 Market estimates and forecast, by component, 2018 - 2032
- 7.3.8.3 Market estimates and forecast, by application, 2018 - 2032
- 7.3.8.3.1 Market estimates and forecast, by component, 2018-2032
- 7.3.8.3.2 Market estimates and forecast, by solution, 2018-2032
- 7.4 Asia Pacific
- 7.4.1 Market estimates and forecast, 2018 - 2032
- 7.4.2 Market estimates and forecast, by component, 2018 - 2032
- 7.4.3 Market estimates and forecast, by application, 2018 - 2032
- 7.4.3.1 Market estimates and forecast, by component, 2018 - 2032
- 7.4.3.2 Market estimates and forecast, by solution, 2018 - 2032
- 7.4.4 China
- 7.4.4.1 Market estimates and forecast, 2018 - 2032
- 7.4.4.2 Market estimates and forecast, by component, 2018 - 2032
- 7.4.4.3 Market estimates and forecast, by application, 2018 - 2032
- 7.4.4.3.1 Market estimates and forecast, by component, 2018-2032
- 7.4.4.3.2 Market estimates and forecast, by solution, 2018-2032
- 7.4.5 India
- 7.4.5.1 Market estimates and forecast, 2018 - 2032
- 7.4.5.2 Market estimates and forecast, by component, 2018 - 2032
- 7.4.5.3 Market estimates and forecast, by application, 2018 - 2032
- 7.4.5.3.1 Market estimates and forecast, by component, 2018-2032
- 7.4.5.3.2 Market estimates and forecast, by solution, 2018-2032
- 7.4.6 Japan
- 7.4.6.1 Market estimates and forecast, 2018 - 2032
- 7.4.6.2 Market estimates and forecast, by component, 2018 - 2032
- 7.4.6.3 Market estimates and forecast, by application, 2018 - 2032
- 7.4.6.3.1 Market estimates and forecast, by component, 2018-2032
- 7.4.6.3.2 Market estimates and forecast, by solution, 2018-2032
- 7.4.7 South Korea
- 7.4.7.1 Market estimates and forecast, 2018 - 2032
- 7.4.7.2 Market estimates and forecast, by component, 2018 - 2032
- 7.4.7.3 Market estimates and forecast, by application, 2018 - 2032
- 7.4.7.3.1 Market estimates and forecast, by component, 2018-2032
- 7.4.7.3.2 Market estimates and forecast, by solution, 2018-2032
- 7.4.8 ANZ
- 7.4.8.1 Market estimates and forecast, 2018 - 2032
- 7.4.8.2 Market estimates and forecast, by component, 2018 - 2032
- 7.4.8.3 Market estimates and forecast, by application, 2018 - 2032
- 7.4.8.3.1 Market estimates and forecast, by component, 2018-2032
- 7.4.8.3.2 Market estimates and forecast, by solution, 2018-2032
- 7.5 Latin America
- 7.5.1 Market estimates and forecast, 2018 - 2032
- 7.5.2 Market estimates and forecast, by component, 2018 - 2032
- 7.5.3 Market estimates and forecast, by application, 2018 - 2032
- 7.5.3.1 Market estimates and forecast, by component, 2018 - 2032
- 7.5.3.2 Market estimates and forecast, by solution, 2018 - 2032
- 7.5.4 Brazil
- 7.5.4.1 Market estimates and forecast, 2018 - 2032
- 7.5.4.2 Market estimates and forecast, by component, 2018 - 2032
- 7.5.4.3 Market estimates and forecast, by application, 2018 - 2032
- 7.5.4.3.1 Market estimates and forecast, by component, 2018-2032
- 7.5.4.3.2 Market estimates and forecast, by solution, 2018-2032
- 7.5.5 Mexico
- 7.5.5.1 Market estimates and forecast, 2018 - 2032
- 7.5.5.2 Market estimates and forecast, by component, 2018 - 2032
- 7.5.5.3 Market estimates and forecast, by application, 2018 - 2032
- 7.5.5.3.1 Market estimates and forecast, by component, 2018-2032
- 7.5.5.3.2 Market estimates and forecast, by solution, 2018-2032
- 7.6 MEA
- 7.6.1 Market estimates and forecast, 2018 - 2032
- 7.6.2 Market estimates and forecast, by component, 2018 - 2032
- 7.6.3 Market estimates and forecast, by application, 2018 - 2032
- 7.6.3.1 Market estimates and forecast, by component, 2018 - 2032
- 7.6.3.2 Market estimates and forecast, by solution, 2018 - 2032
- 7.6.4 Saudi Arabia
- 7.6.4.1 Market estimates and forecast, 2018 - 2032
- 7.6.4.2 Market estimates and forecast, by component, 2018 - 2032
- 7.6.4.3 Market estimates and forecast, by application, 2018 - 2032
- 7.6.4.3.1 Market estimates and forecast, by component, 2018-2032
- 7.6.4.3.2 Market estimates and forecast, by solution, 2018-2032
- 7.6.5 UAE
- 7.6.5.1 Market estimates and forecast, 2018 - 2032
- 7.6.5.2 Market estimates and forecast, by component, 2018 - 2032
- 7.6.5.3 Market estimates and forecast, by application, 2018 - 2032
- 7.6.5.3.1 Market estimates and forecast, by component, 2018-2032
- 7.6.5.3.2 Market estimates and forecast, by solution, 2018-2032
- 7.6.6 South Africa
- 7.6.6.1 Market estimates and forecast, 2018 - 2032
- 7.6.6.2 Market estimates and forecast, by component, 2018 - 2032
- 7.6.6.3 Market estimates and forecast, by application, 2018 - 2032
- 7.6.6.3.1 Market estimates and forecast, by component, 2018-2032
- 7.6.6.3.2 Market estimates and forecast, by solution, 2018-2032
Chapter 8 Company Profiles
- 8.1 ABB Ltd
- 8.1.1 Business overview
- 8.1.2 Financial data
- 8.1.3 Product landscape
- 8.1.4 Strategic outlook
- 8.1.5 SWOT analysis
- 8.2 Cisco Systems Inc.
- 8.2.1 Business overview
- 8.2.2 Financial data
- 8.2.3 Product landscape
- 8.2.4 Strategic outlook
- 8.2.5 SWOT analysis
- 8.3 Honeywell International Inc
- 8.3.1 Business overview
- 8.3.2 Financial data
- 8.3.3 Product landscape
- 8.3.4 Strategic outlook
- 8.3.5 SWOT analysis
- 8.4 Huawei Technologies Co., Ltd
- 8.4.1 Business overview
- 8.4.2 Financial data
- 8.4.3 Product landscape
- 8.4.4 Strategic outlook
- 8.4.5 SWOT analysis
- 8.5 IBM Corporation
- 8.5.1 Business overview
- 8.5.2 Financial data
- 8.5.3 Product landscape
- 8.5.4 Strategic outlook
- 8.5.5 SWOT analysis
- 8.6 Trane Technologies
- 8.6.1 Business overview
- 8.6.2 Financial data
- 8.6.3 Product landscape
- 8.6.4 Strategic outlook
- 8.6.5 SWOT analysis
- 8.7 Johnsons Controls
- 8.7.1 Business overview
- 8.7.2 Financial data
- 8.7.3 Product landscape
- 8.7.4 Strategic outlook
- 8.7.5 SWOT analysis
- 8.8 Endeavor Business Media
- 8.8.1 Business overview
- 8.8.2 Financial data
- 8.8.3 Product landscape
- 8.8.4 Strategic outlook
- 8.8.5 SWOT analysis
- 8.9 Jabil
- 8.9.1 Business overview
- 8.9.2 Financial data
- 8.9.3 Product landscape
- 8.9.4 Strategic outlook
- 8.9.5 SWOT analysis
- 8.10 Rexel
- 8.10.1 Business overview
- 8.10.2 Financial data
- 8.10.3 Product landscape
- 8.10.4 Strategic outlook
- 8.10.5 SWOT analysis
- 8.11 Legrand
- 8.11.1 Business overview
- 8.11.2 Financial data
- 8.11.3 Product landscape
- 8.11.4 Strategic outlook
- 8.11.5 SWOT analysis
- 8.12 Microsoft Corporation
- 8.12.1 Business overview
- 8.12.2 Financial data
- 8.12.3 Product landscape
- 8.12.4 Strategic outlook
- 8.12.5 SWOT analysis
- 8.13 Siemens AG
- 8.13.1 Business overview
- 8.13.2 Financial data
- 8.13.3 Product landscape
- 8.13.4 Strategic outlook
- 8.13.5 SWOT analysis
- 8.14 Bosch
- 8.14.1 Business overview
- 8.14.2 Financial data
- 8.14.3 Product landscape
- 8.14.4 Strategic outlook
- 8.14.5 SWOT analysis
- 8.15 Azbil Corporation
- 8.15.1 Business overview
- 8.15.2 Financial data
- 8.15.3 Product landscape
- 8.15.4 Strategic outlook
- 8.15.5 SWOT analysis
- 8.16 Hitachi Ltd
- 8.16.1 Business overview
- 8.16.2 Financial data
- 8.16.3 Product landscape
- 8.16.4 Strategic outlook
- 8.16.5 SWOT analysis
- 8.17 Intel Corporation
- 8.17.1 Business overview
- 8.17.2 Financial data
- 8.17.3 Product landscape
- 8.17.4 Strategic outlook
- 8.17.5 SWOT analysis
- 8.18 Schneider Electric SE
- 8.18.1 Business overview
- 8.18.2 Financial data
- 8.18.3 Product landscape
- 8.18.4 Strategic outlook
- 8.18.5 SWOT analysis
- 8.19 Nexii Building Solutions Inc.
- 8.19.1 Business overview
- 8.19.2 Financial data
- 8.19.3 Product landscape
- 8.19.4 Strategic outlook
- 8.19.5 SWOT analysis
- 8.20 PTC
- 8.20.1 Business overview
- 8.20.2 Financial data
- 8.20.3 Product landscape
- 8.20.4 Strategic outlook
- 8.20.5 SWOT analysis