What is the current Smart Building Market size?

The Smart Building Market is projected to register a CAGR of 13.96% during the forecast period (2024-2029) Read More

Who are the key players in Smart Building Market?

Honeywell International Inc., Siemens AG, Schneider Electric SE, IBM Corporation and ABB Ltd are the major companies operating in the Smart Building Market. Read More

Which is the fastest growing region in Smart Building Market?

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in Smart Building Market?

In 2024, the North America accounts for the largest market share in Smart Building Market. Read More

What years does this Smart Building Market cover?

The report covers the Smart Building Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Smart Building Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

What are the key factors driving Smart Building Market?

Key factors driving the smart buildings market are: a) Growing concerns about energy consumption and b) Government initiatives on smart infrastructure projects Read More

Smart Building Market Analysis, Market Reports and Industry Trends

Smart Building Market Size - Industry Report on Share, Growth Trends & Forecasts Analysis (2024 - 2029)

The Report Covers Global Smart Building Solutions and Technology Trends. The Market is Segmented by Components (solutions (building Energy Management Systems, Infrastructure Management Systems, Intelligent Security Systems), Services), Applications (residential, Commercial), and Geography.

Smart Building Industry Overview

The smart buildings market is fragmented, with a presence of reputable global and national companies worldwide. The market is expected to be driven by customizations and modern technologies to attract end users. Suppliers are mainly focused on providing innovative solutions and products that can optimize energy consumption and meet high levels of building automation. Furthermore, companies are involved in various strategies to gain a competitive edge. Some of the major players in the market are Honeywell International Inc., Siemens AG, ABB Ltd, Schneider Electric SE, and IBM Corporation.

In July 2023, Siemens partnered with PRODEA Investments, one of the real estate investment companies in Greece, to implement Building X. Building X is a Siemens digital building platform.
In April 2023, Obayashi Corporation and Hitachi Solutions Ltd incorporated Oprizon Ltd, a joint venture for providing smart building-related services, based on the Joint Venture Agreement executed in January 2023, to become the leading smart building service provider and started operation in April 2023.