Market Overview
The global smart building market size was valued at USD 93.12 billion in 2024 and is projected to reach from USD 101.25 billion in 2025 to USD 197.79 billion by 2033, growing at a CAGR of 8.73% during the forecast period (2025-2033).
The global Smart Building market is witnessing swift transformation driven by new consumer behaviors, increased funding, and advancements in technology. According to Straits Research, the industry is further propelled by rising digital adoption, supportive government policies, expanding industrial applications, and a growing focus on operational efficiency and sustainability across markets. This section outlines the current market landscape, focusing on key trends, rising opportunities, major competitive actions, and the elements influencing the industry’s growth path.
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Market Scope and Research Approach
This study integrates both quantitative metrics and qualitative evaluations to provide a clear, accurate, and in-depth market assessment. The scope defines major parameters and market categories to give readers a structured view of the industry and its foundational dynamics.
The report analyzes market size, forecasts, and growth potential by evaluating essential segments and sub-segments. It explores critical market drivers, including regulatory policies, cost optimization, sustainability initiatives, and constant innovation. The analysis also includes competitive benchmarking, investment flow patterns, and policy frameworks influencing market evolution.
Regional Assessment
The research covers North America, Europe, Asia-Pacific, Latin America, the Middle East, and Africa. Each region is evaluated based on growth potential, market share, investment climate, and trade activity. Regional evaluations consider government initiatives, industry performance, demand shifts, and development prospects to provide a comprehensive geographic market view.
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Market Segmentation
- By Component
- Software
- Hardware
- Service
- Consulting
- Implementation
- Support & Maintenance
- By End-User
- Commercial
- Hotel
- Healthcare
- Retail
- Corporate Offices
- Others (Apartments, Condos)
- Residential
- Industrial
- Commercial
- By Solution
- Safety & Security Management
- Access Control System
- Video Surveillance System
- Fire and Life Safety System
- Energy Management
- HVAC Control System
- Lighting Management System
- Others (Data Management, Asset Performance Optimization, and Application Platform)
- Building Infrastructure Management
- Parking Management System
- Water Management System
- Others (Elevators and Escalators Management and Waste Management)
- Integrated Workplace Management System (IWMS)
- Real Estate Management
- Capital Project Management
- Facility Management
- Operations and Services Management
- Environment and Energy Management
- Network Management
- Wired Technology
- Wireless Technology
- Safety & Security Management
Major Market Participants
- ABB
- Siemens AG
- Honeywell International Inc.
- Schneider Electric
- Cisco Systems Inc.
- United Technologies
- International Business Machines Corporation
- BuildingIQ
- Echelon Corporation
- Hitachi Ltd.
- Panasonic Corporation
- Delta Controls
- Johnson Controls
- Legrand
Download Free Sample Report PDF (Includes Full TOC, Charts, Tables & Figures): https://straitsresearch.com/report/smart-building-market/request-sample
Key Questions Addressed in the Smart Building Market Report:
- What is the current size of the Smart Building market?
- What is the projected size of the industry in the upcoming years?
- What is the estimated worldwide valuation of the Smart Building market?
- What is the market growth rate?
- Which market segment holds the largest share?
- What are the primary segments within the Smart Building market?
- What was the North American market valuation in 2024?
- Which region leads the global market?
- What factors are fueling market expansion?
- Who are the key industry participants?
- Which companies dominate the Smart Building landscape?
About Straits Research
Straits Research delivers in-depth market intelligence and data-driven insights across multiple industries. Our reports support decision-makers, investors, and organizations in identifying growth opportunities, overcoming challenges, and shaping strategic plans for sustained success in dynamic global markets.