DUBLIN, Feb. 23, 2024 /PRNewswire/ — The “Smart Buildings – Global Strategic Business Report” report has been added to ResearchAndMarkets.com’s offering.
Global Smart Buildings Market to Reach $176.9 Billion by 2030
The global market for Smart Buildings estimated at US$73.7 Billion in the year 2022, is projected to reach a revised size of US$176.9 Billion by 2030, growing at a CAGR of 11.6% over the analysis period 2022-2030. Solutions, one of the segments analyzed in the report, is projected to record 10.7% CAGR and reach US$98 Billion by the end of the analysis period. Growth in the Services segment is estimated at 12.7% CAGR for the next 8-year period.
Sustainability lies at the heart of the emergence and evolution of smart buildings, driving innovation and development in the construction industry. As the demand for energy-efficient and environmentally friendly infrastructure grows, smart buildings have become a focal point for architects, developers, and policymakers alike.
These buildings leverage advanced technologies and integrated systems to optimize energy usage, reduce carbon footprint, and enhance overall efficiency. In a competitive market landscape, with 166 players worldwide in 2023, companies are striving to establish a strong presence by offering cutting-edge solutions and services tailored to the needs of sustainable construction. Recent market activity reflects the dynamic nature of the industry, with ongoing investments, partnerships, and innovations aimed at further advancing smart building technologies.
Additionally, the imminent rollout of 5G networks is expected to revolutionize intelligent building evolution, unlocking new opportunities for connectivity, automation, and data-driven decision-making. With a focus on ramping up energy efficiency progress, future construction projects are poised to prioritize smart building designs, reinforcing the importance of sustainability in shaping the built environment.
The U.S. Market is Estimated at $22.2 Billion, While China is Forecast to Grow at 13.6% CAGR
The Smart Buildings market in the U.S. is estimated at US$22.2 Billion in the year 2022. China, the world’s second largest economy, is forecast to reach a projected market size of US$28.8 Billion by the year 2030 trailing a CAGR of 13.6% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 9.2% and 10.4% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 11.1% CAGR.
MARKET TRENDS & DRIVERS
Focus on Net Zero Energy Buildings (NZEB) Awakens Interest in Smart Building Technologies
BiPV Rises in Prominence Amid the Growing Clamor for Smart Buildings
Building Energy Management System (BeMS) Emerges to be Crucial to the Net Zero Energy Goal in Smart Buildings
The Pandemic’s Push to Renovate & Build Smarter Buildings Bodes Well for Market Growth
A Recovering Construction Industry Bodes Well for the Smart Buildings Market
Construction Spending is a Key Indicator of What to Expect in the Smart Buildings Market
With Connectivity Being the Most Critical Element of Smart Buildings, In-Building Wireless (IBW) Emerges Into the Spotlight
A Review of the Growing Role of PoE in Smart Buildings
AI to Revolutionize Smart Buildings in Ways Hitherto Unimagined
Energy Efficiency Remains at the Core of the Smart Building Concept
Smart Building Analytics Rises in Prominence
5G to Accelerate Smart Building Adoption
IoT-powered Building Management System, A Gamechanger for Smart Buildings
Predictive Maintenance Crucial to Curtailing Smart Building Maintenance Costs
Cybersecurity in Smart Buildings Takes Center Stage
FOCUS ON SELECT PLAYERS (Total 166 Featured)
ABB Ltd.
Accenture PLC
Advantech Co., Ltd.
Avnet, Inc.
Azbil Corporation
Automated Logic Corp.
ADT LLC
Axonize
75F
Aamidor Consulting
ATS Automation, Inc
AtSite
Bandora Systems
Amer Group
BACnet International, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/qmnh3g
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