Press release
Driving Connected Building Market Growth in 2025: The Role of Increasing Demand For Energy-Efficient Systems Fuelling The Growth Of The Market Due To Cost Reduction And Sustainability Goals
Connected Building Market Size
Connected Building Market Size Growth Forecast: What to Expect by 2025?
The market size for connected buildings has witnessed substantial expansion over recent years. Expanding from $79.63 billion in 2024 to an anticipated $87.65 billion in 2025, it predicts a compound annual growth rate (CAGR) of 10.1%. The historical growth amplitude is credited to factors like the escalation in energy efficiency norms, burgeoning demands for intelligent cities, amplified cybersecurity safeguards for smart infrastructures, growing requirement for improved inhabitant comfort, and rising solutions for remote monitoring and management.
How Will the Connected Building Market Size Evolve and Grow by 2029?
Anticipated to experience accelerated expansion in the coming years, the market size of connected buildings is predicted to reach $129.5 billion in 2029, reflecting a Compound Annual Growth Rate (CAGR) of 10.3%. The anticipated growth during the forecasted period is linked to escalating demand for energy efficiency, the surge in government regulations and sustainability directives, swelling urbanization and smart city projects, the widespread deployment of 5G and edge computing, as well as heightened demand for improved security and access control. Key trends projected for this period encapsulate the adoption of IoT and AI technology, the evolution of smart HVAC and lighting solutions, the utilization of blockchain technologies for secure data management, the integration of digital twins for real-time monitoring and continued use of blockchain for secure data control.
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What Drivers Are Propelling the Growth of Connected Building Market Forward?
The growing preference for systems that optimize energy use is predicted to fuel the expansion of the connected building market. Energy efficiency is the capability of a system, apparatus, or process to use less power for the same function or attain the best results while minimizing waste. This growing preference stems from the desire to decrease power usage and lessen environmental harm. With energy costs going up, companies and homeowners are turning to energy-efficient solutions like intelligent HVAC systems and automatic building controls to reduce their expenses. Connected buildings use IoT-enabled devices, sensors, and automation systems to manage and control lighting and other power-draining operations in real-time. These technologies ensure lower energy waste, reduced utility expenses and improved sustainability, thereby appealing to businesses and homeowners. For example, Energy UK, a UK trade association representing the UK's energy industry, published a report in October 2022 stating that the number of energy efficiency projects should rise from 150,000 installations per year in 2021 to 500,000 in 2025, and finally to one million per year by 2030. Hence, the rising preference for energy-efficient systems is fostering the expansion of the connected building market.
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What Long-Term Trends Will Define the Future of the Connected Building Market?
Top firms in the connected building market, such as Schneider Electric, are actively striving to create groundbreaking innovations like sustainable building to increase efficiency and minimize environmental damage while promoting eco-friendly urban forestry. Sustainable building involves adopting and utilizing green technologies, materials, and methods to enhance the energy efficiency, ecological properties, and durability of buildings. For example, in June 2024, France's Schneider Electric introduced the SMART buildings division to advance sustainable building innovation. The new branch is set to fast-track the use of smart, energy-saving, and digitally connected building solutions. This move is in line with Canada's goals for sustainability and the growing demand for intelligent, net-zero structures. It strengthens Schneider Electric's promise to steer the advancement of energy-efficient and digitally superior infrastructure.
What Are the Key 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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Who Are the Key Players Shaping the Connected Building Market's Competitive Landscape?
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 Geographic Markets Are Powering Growth 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.
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