Press release
Smart Building Market to Hit USD 185 Bn by 2030 at 10.89% CAGR: Innovation Drives Leadership
Smart Building Market
The Smart Building Market surged to USD 89.73 billion in 2023 and is projected to reach USD 185 billion by 2030, growing at an impressive CAGR of 10.89% from 2024 to 2030. Key drivers include widespread adoption of IoT, AI, BIM, and cloud-based energy management, as well as increasing demand for energy-efficient, secure, and comfortable buildings.
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United States
United States Growth
The U.S. smart building sector was valued at roughly USD 30.6 billion in 2024 and is set to expand to USD 68.7 billion by 2034, at a 10.8% CAGR from 2025 to 2034.
United States Opportunity
Demand is rising for energy optimization, LEED-certified systems, and cloud-based building management solutions.
United States Trends
Adoption of predictive maintenance, AI-enhanced security, and integrations for remote management are transforming facilities management.
United States Consolidation
Leading players like Honeywell and Johnson Controls are actively acquiring startups and software firms to bolster IoT and analytics offerings.
United States Updation
The U.S. Department of Energy's 'Better Buildings Initiative' is encouraging retrofits and automation, saving billions in energy costs.
Asia Pacific
Asia-Pacific Growth
Asia Pacific emerged as the fastest-growing region, valued at USD 139 billion in 2025, with a 17.3% CAGR projected through 2030.
The region accounted for 31.7% of global revenue in 2024 and will continue fast expansion.
Asia-Pacific Opportunity
National smart-city schemes in China and India are creating a surge in smart building deployment.
Asia-Pacific Trends
Rapid adoption of AI+IoT, wireless solutions, and retrofit upgrades is boosting market penetration.
Asia-Pacific Consolidation
Incumbents like Huawei, SIEMENS, and Schneider Electric are forming JVs and acquiring local startups to strengthen regional tech stacks .
Asia-Pacific Updation
Commercial projects in Bangkok, Singapore, and Shanghai are deploying intelligent HVAC, security, and energy systems with smart sensors.
Europe
Europe Growth
Europe represented about 30.5% of global market share in 2024, with continued moderate growth .
Europe Opportunity
Policy-driven demand for sustainability, coupled with EU green directives like Green Deal, is pushing smart building investments.
Europe Trends
Integration of AI-driven energy analytics, building retrofits, and security enhancements have become widespread.
Europe Consolidation
Major deals such as Siemens' acquisition of smart-building software firms, Honeywell-Siemens collabs, and Johnson Controls partnerships are reshaping the landscape.
Europe Updation
Pilot projects in Germany and France focus on digital twins, smart glazing, and integrated IoT for national public buildings .
Middle East & Africa (MEA)
MEA Growth
MEA is gaining momentum as commercial real estate adapts with smart building systems in regions like UAE, Saudi Arabia, and South Africa .
MEA Opportunity
Investments in energy-efficient office parks and smart infrastructure under smart-city visions elevate demand.
MEA Trends
Emphasis on hybrid deployments (on-premises + cloud) and AI-driven security tools for smart campuses.
MEA Consolidation
Global giants (Schneider, Cisco, Honeywell) are partnering with local integrators to scale.
MEA Updation
Commercial projects in Dubai, Johannesburg, and Riyadh are adopting integrated smart systems supported by foreign capital.
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Global M&A & Recent Developments
$5.5 billion invested in smart building startups since 2023-acquisitions, PE buyouts, and distressed asset sales drive growth.
Honeywell launched its Advanced Control for Buildings platform in 2024-featuring cybersecurity and ML-enabled controls.
Siemens-Prodea collaboration enhances smart building integration for Greek properties.
Cisco is setting up manufacturing in India to support local deployments.
Smart Building Market Segmentation:
by Component
Solutions
Building infrastructure Management
Parking Management System
Smart Water Management System
Elevators and Escalators Management System
Security and Emergency Management
Access Control System
Video Surveillance System
Safety System
Energy Management
HVAC Control System
Lighting System
Network Management
IWMS
Services
Consulting
Implementation
Support and Maintenance
According to the component, during the projection period, the solution sector is anticipated to increase at the highest CAGR of almost 12.84%. The real estate industry's increasing need for smart infrastructures is the reason behind this expansion. Additionally, new opportunities for market participants are presented by the growing awareness among industries about the implementation of energy-efficient solutions and the rise in the use of IoT-based smart building solutions.
by Building Type
Residential
Commercial
Industrial
According to building type, the commercial segment is expected to reach 2030 with the highest CAGR of 13%. The demand for appropriate and ideal solutions for improved energy efficiency to reduce building energy consumption without sacrificing comfort or safety and enhance commercial building energy performance may be the driving force behind the commercial segment's growth.
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Smart Building Market Major Players:
1. CISCO
2. HONEYWELL
3. JOHNSON CONTROLS
4. SIEMENS
5. IBM
6. HITACHI
7. SCHNEIDER ELECTRIC
8. INTEL
9. HUAWEI
10. ABB
11. LEGRAND
12. BOSCH
13. TELIT
14. PTC
15. KMC CONTROLS
16. VERDIGRIS TECHNOLOGIES
17. ACQUICORE
18. 75F
19. BUILDINGIQ
20. ENTOUCH
21. SOFTDEL
22. MODE:GREEN
23. COPPERTREE ANALYTICS
24. SPACETI
25. IGOR
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