Global Smart Building Market Report 2023: Sector is Expected to Reach $416.42 Billion by 2030 at a CAGR of 24.8%

Dublin, June 15, 2023 (GLOBE NEWSWIRE) -- The "Smart Building Market, By Component, By Application, and By Geography - Size, Share, Outlook, and Opportunity Analysis, 2023 - 2030" report has been added to's offering.

This report provides in-depth analysis of the global smart building market, and provides market size (US$ Billion) and compound annual growth rate (CAGR%) for the forecast period (2023-2030), considering 2022 as the base year.

Smart Building is a term that describes a building that incorporates digital technologies into the fabric of the structure. These technologies include sensors, actuators and a data network that connects all the systems that run the building.

The advantages of a Smart Building are reduced operating and maintenance costs, more information and control, better living conditions and increased sustainability for the environment. Moreover, it reduces security risks and increases occupant safety due to a variety of monitoring systems that detect possible problems such as fires or accidents.

Technological advancements and the increase in entrepreneurship is expected to drive growth of the global smart building market during the forecast period. This has led to the rise of startups and smaller enterprises that are able to provide innovative and better industrial and automation solutions.

However, factors such as high cost, and lack of skilled professionals is expected to drive growth of the global smart building market over the forecast period.

Key features of the study:

  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
  • It profiles key players in the global smart building market based on the following parameters - company highlights, products portfolio, key highlights, financial performance, and strategies
  • Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
  • The global smart building market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global smart building market

Key Attributes:

Report AttributeDetails
No. of Pages170
Forecast Period2023 - 2030
Estimated Market Value (USD) in 2023$87.87 Billion
Forecasted Market Value (USD) by 2030$416.42 Billion
Compound Annual Growth Rate24.8%
Regions CoveredGlobal

Company profiles:

  • ABB Ltd
  • Honeywell International
  • Siemens AG
  • Schneider Electric SE
  • Huawei Technologies Co. Ltd
  • IBM Corporation
  • Cisco Systems
  • Johnson Controls Inc
  • Legrand SA
  • Avnet Inc
  • Hitachi Ltd
  • Softdel (A UNIDEL Company)

Market Segmentation:

by Component:

  • Solution
  • Building Energy Management System
  • Infrastructure Management System
  • Intelligent Security System
  • Other Solutions Services
  • Services

by Application:

  • Residential
  • Commercial

by Region:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

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Smart Building Market