Connected Building Market Size Forecasted To Achieve $2.07 Billion By 2029 With Steady Growth

The Connected Building Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].

What Is the Connected Building Market Size and Projected Growth Rate?
In recent times, the market size for connected buildings has seen a quick expansion. This market, which is projected to escalate from $79.63 billion in 2024 to $88.27 billion in 2025, will witness a compound annual growth rate (CAGR) of 10.9%. The upsurge during the historical period is attributable to factors that include stricter energy efficiency laws, burgeoning demand for intelligent cities, fortified cybersecurity protocols for smart infrastructures, an amplified need for superior occupant comfort, and the proliferation of remote monitoring and management solutions.

Expectations suggest a swift expansion in the connected building market in the coming few years. The market is projected to escalate to a value of $131.67 billion by 2029, witnessing a compound annual growth rate (CAGR) of 10.5%. Factors responsible for the projected growth in the period include heightened demand for energy efficiency, rising legislative regulations and measures towards sustainability, the amplification of urbanization and smart city ventures, the proliferation of 5G and edge computing, and enhanced demand for advanced security and entry control systems. Key trends anticipated in the forecast period encompass the incorporation of IoT and AI, the evolution of intelligent HVAC and lighting systems, the adoption of blockchain for protected data management, real-time monitoring enabled by integration of digital twins, and the utilization of blockchain for secure data handling.

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What Are the Major Segments in the Connected Building Market?
The connected building market covered in this report is segmented -

1) By Component: Solutions, Services
2) By Technology Platform: Internet Of Things (IoT), Mobile Applications, Artificial Intelligence And Machine Learning, Big Data Analytics, Edge Computing Technologies
2) By Deployment Type: On-Premises Solutions, Cloud-Based Solutions, Hybrid Solutions
4) By End-User: Manufacturing, IT And Telecom, Banking, Financial Services, And Insurance (BFSI), Healthcare, Residential, Other End-Users

Subsegments:
1) By Solutions: Energy Management Solutions, Lighting Control Systems, HVAC Management Solutions, Security And Access Control Systems, Building Automation Platforms, Data Analytics And IoT Solutions, Smart Metering Solutions, Fire And Life Safety Solutions, Network Management Solutions
2) By Services: Consulting Services, Deployment And Integration Services, Managed Services, Support And Maintenance Services, Training And Education Services, Professional Services, Cloud-Based Services

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What Are The Driving Connected Building Market Evolution?
The rising need for systems that utilize energy efficiency catalyzes the expansion of the connected building market. Energy efficiency involves a system, device, or process's capability to perform identical functions using less energy, achieving maximum output, and minimizing waste. The growing need for such energy-efficient systems stems from the weighty necessity to diminish energy use and lessen the environmental footprint. With the continual escalation in energy prices, both businesses and homeowners are exploring ways to reduce their expenses through the implementation of energy-efficient solutions like smart HVAC systems and automated building controls. By utilizing devices, sensors, and automation systems powered by the Internet of Things, connected buildings can actively oversee and manage lighting, along with other operations that consume significant amounts of energy. These beneficial technologies lower energy waste, decrease utility expenses, and promote sustainability, thereby appealing to business, home sectors. For example, in October 2022, energy efficiency projects' need was underlined in a report by Energy UK, a trade association in the UK that represents its energy industry. According to the report, these projects need to see a growth from 150,000 installs per year in 2021 to 500,000 in 2025, and eventually, one million per annum by 2030. Consequently, the growing need for energy-efficient systems stimulates the ongoing growth in the connected building market.

Which Firms Dominate The Connected Building Market Segments?
Major companies operating in the connected building market are Microsoft Corporation, Amazon Web Services (AWS), Huawei Technologies Co Ltd, Hitachi Ltd, Siemens AG, Intel Corporation, IBM Corporation, Cisco Systems Inc, Schneider Electric, Honeywell International Inc, Mitsubishi Electric, ABB Ltd, Johnson Controls, Eaton Corporation, Delta Electronics Inc, Legrand, Rockwell Automation, Advantech Co Ltd, Bosch Building Technologies, Lutron Electronics

What Trends Are Expected to Dominate the Connected Building Market in the Next 5 Years?
Leading firms in the connected building market are concentrating on the creation of innovative offerings, such as sustainable buildings, in an effort to increase efficiency, minimize environmental harm, and encourage sustainable urban forestry methods. A sustainable building involves the development and deployment of green technologies, materials, and strategies to enhance the energy efficiency, environmental impact, and robustness of structures. As an example, in June 2024, Schneider Electric, a French automation corporation, unveiled a new division for SMART buildings to spearhead sustainable building innovation. This fresh division seeks to speed up the uptake of smart, energy-efficient, and digitally connected building solutions. This endeavor is in line with Canada's sustainability objectives and the rising requirement for smart, net-zero structures, underlining Schneider Electric's dedication to steering the future of energy-saving and digitally sophisticated infrastructure.

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Which Is The Largest Region In The Connected Building Market?
North America was the largest region in the connected building market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the connected building market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Connected Building Market?
2. What is the CAGR expected in the Connected Building Market?
3. What Are the Key Innovations Transforming the Connected Building Industry?
4. Which Region Is Leading the Connected Building Market?

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