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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Leading Companies in the Smart Building Market
Market players are focused on developing solutions for energy management and physical security systems, to cater to the growing demand for sustainable and efficient buildings
Honeywell International Inc. is a multinational conglomerate corporation headquartered in Charlotte, North Carolina. Founded in 1925, it operates in four main areas: aerospace, building automation, performance materials and technologies (PMT), and safety and productivity solutions (SPS). It is known for its innovative solutions in energy efficiency, automation, and cybersecurity areas.
Cisco Systems, Inc. is a multinational technology company headquartered in San Jose, California. Founded in 1984, it specialises in networking hardware, software, and services. Cisco is known for its routers, switches, and network security solutions. The company has a significant presence in the global IT industry and is a major player in the development of the Internet of Things (IoT).
Siemens AG, founded in 1847, headquartered in Munich, Germany, is a leading provider of industrial automation solutions for energy, healthcare, and transportation industries. The company has a significant global presence and is known for its innovative technologies and solutions in areas such as industrial automation and renewable energy.
Hitachi, Ltd. is a Japanese multinational conglomerate founded in 1910 and headquartered in Chiyoda, Tokyo. The company is active in various industries, including digital systems, power and renewable energy solutions, railway systems, healthcare products, and financial systems.
Other key players in the global smart building market include Schneider Electric SE, and Huawei Technologies Co., Ltd., among others.
Smart Building Market Report Snapshots
Smart Building Market Regional Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the global smart building market attained a value of nearly USD 86.39 billion.
The market is expected to grow at a CAGR of 10.4% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 210.46 billion by 2032.
The rapid urbanisation, stringent government regulations aimed at environmental sustainability, rising demand for occupant’s safety, investments in smart city projects, and need to reduce energy consumption and costs are factors expected to aid the market growth.
Key trends aiding market expansion include the growing technological advancements, favourable government initiatives, and rising smart city projects.
Regions considered in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The significant types of smart building are commercial, residential, and industrial.
The major components considered within the market report are building infrastructure management solution, energy management solution, workforce management solution, network management solution, and services.
Key players in the market are Honeywell International Inc., Cisco Systems, Inc., Siemens AG, Hitachi, Ltd., Schneider Electric SE, and Huawei Technologies Co., Ltd., among others.
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