Smart Buildings (Nonresidential Buildings) Market Anticipated To Witness Robust Growth, Surpassing $127.62 Billion By 2029

The Smart Buildings (Nonresidential Buildings) 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 Projected Growth of the Smart Buildings (Nonresidential Buildings) Market?
The market size of smart buildings (nonresidential buildings) has witnessed rapid expansion in the recent past. The projected growth trajectory is from $69.94 billion in 2024 to $78.15 billion in 2025, with a compound annual growth rate (CAGR) of 11.7%. Factors contributing to the growth during the historic period include robust economic development in emerging markets, low interest rates, enhanced internet accessibility, beneficial government schemes, and technological advancements.

Anticipations are high that there would be substantial expansion in the market size of smart buildings (nonresidential buildings) in the coming years, with a projected growth of up to $127.62 billion by 2029, forecasting a compound annual growth rate (CAGR) of 13.0%. This potential swell during the forecast period may be due to various factors including the escalation in urbanization, the rise in IoT driving the development of smart cities, and a growing demand. As we move into the forecast period, some major tendencies include the integration of artificial intelligence and robotics in construction procedures, the employment of predictive analytics methodologies to boost risk scanning and diminish production expenses, the adoption of IoT technologies to expand operational efficiency, investments in safety solutions to secure consumers, the use of smart switches and screens to enhance user experience, the adoption of green construction and energy efficient methodologies for the creation of eco-friendly smart nonresidential buildings, the installation of living or green roofs to boost the efficiency of green buildings, and the installment of low-emittance windows or smart glass for optimal performance of green commercial spaces.

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What Are the Different Smart Buildings (Nonresidential Buildings) Market Segments?
The smart buildings (nonresidential buildings) market covered in this report is segmented -

1) By Automation Type: Intelligent Security System, Building Energy Management System, Infrastructure Management System, Network Management System
2) By Product Type: Institutional Buildings, Commercial Buildings
3) By Type: New Constructions, Remodeling Projects
4) By Application: Government, Airports, Hospitals, Institutes Manufacturing & Industrial facilities, Other Applications

Subsegments:
1) By Intelligent Security System: Access Control Systems, Video Surveillance Systems, Intrusion Detection Systems
2) By Building Energy Management System (BEMS): HVAC Control Systems, Lighting Control Systems, Energy Monitoring and Optimization Tools
3) By Infrastructure Management System: Facility Management Software, Asset Tracking and Management Tools, Maintenance Management Systems
4) By Network Management System: Network Monitoring and Performance Management, Data Center Management Tools, Cloud-Based Management Solutions

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What Are the Primary Drivers Shaping the Smart Buildings (Nonresidential Buildings) Market?
Steering the smart building (non-residential) market forward is the growing demand for task automation using IoT (Internet of Things) contraptions. In a smart building, IoT exploits a network of sensors, meters, appliances, among others, to transmit and receive data. By using IoT-enabled sensors and devices, the efficiency of appliances in a smart building is elevated, making them safer, more sustainable, and efficient. Consider, for example, certain IoT-enabled sensors that can automatically switch the lights on and off upon detecting presence in a room, creating a unique feature for the smart building. Consequently, the accelerated uptake of IoT solutions propels the expansion of the smart building market. For example, the adoption of connected devices in the commercial smart building sector is projected to escalate from 1.7 billion in 2020 to almost 3 billion by 2025, signifying a 10.8% CAGR. Therefore, the heightened deployment of IoT devices in smart buildings escalates the growth of the smart building (non-residential) market.

Which Companies Are Leading in the Smart Buildings (Nonresidential Buildings) Market?
Major companies operating in the smart buildings (nonresidential buildings) market include China State Construction Engineering Co., Ltd., VINCI, Bechtel Corporation, Skanska AB, Turner Construction Company, Jacobs Engineering Group Inc., The Whiting-Turner Contracting Company, PCL Construction, AECOM, BESIX Group, Shanghai Construction Group (SCG), SGS Group, Larsen & Toubro, GMR Group, Hindustan Construction Company, GVK Group, Kajima Corporation, Shimizu Corporation, Shanghai Intelligent Building Technology (SIBT), Obayashi Corporation, Taisei Corporation, Balfour Beatty, Bouygues, Royal BAM Group, Laing O`Rourke, ACS Group, EllisDon Corporation, Aecon Group Incorporated, Ledcor Group of Companies, Gilbane Building Company, Empresas ICA SAB de CV, Carso Infraestructura y Construcción S.A.B., Clark Group, Swinerton, Hensel Phelps, Lendlease, Arabian Construction Company, WBHO Construction (Pty) Ltd., Stefanutti Stocks (Pty) Ltd, WK construction, Redcon Construction Company, Estim Construction Co. Ltd, Eco-Beam, Ecomo, TSAI design studio

What Are the Major Trends Shaping the Smart Buildings (Nonresidential Buildings) Market?
The smart building (non-residential) market is currently embracing the trend of implementing 5G technology. As a forthcoming cellular technology, 5G decreases the duration required for wireless network devices to interact. The introduction of 5G into smart buildings will significantly boost the function of wireless edge devices, offering a rich multimedia experience. Furthermore, 5G will augment security check applications in commercial premises. In the context of smart hospital buildings, employing 5G is projected to revolutionize the wayfinding, facilitating smart beds and wheelchairs to transport incapacitated patients. It's forecasted that mobile operators will invest upwards of $600 billion in 5G networks from 2022-2025. An initiative to boost 5G deployments includes factories producing advanced antenna system radios. The adoption of 5G technology is anticipated to enhance connectivity within smart buildings and is becoming a trend due to the significant capital inflow from major players in the smart building (non-residential) market.

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What Are the Top Revenue-Generating Geographies in the Smart Buildings (Nonresidential Buildings) Market?
Asia-Pacific was the largest region in the smart buildings (non-residential buildings) market in 2024. South America is expected to be the fastest-growing region in the global smart buildings (nonresidential buildings) market during the forecast period. The regions covered in the smart buildings (nonresidential buildings) 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 Smart Buildings (Nonresidential Buildings) Market?
2. What is the CAGR expected in the Smart Buildings (Nonresidential Buildings) Market?
3. What Are the Key Innovations Transforming the Smart Buildings (Nonresidential Buildings) Industry?
4. Which Region Is Leading the Smart Buildings (Nonresidential Buildings) Market?

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