Product Code: MRFR/E&P/23563-HCR
Global Smart Buildings Market Research Report Information by Solution Type [Building Automation Systems (BAS), Energy Management Systems, Security and Access Control Systems, loT-Enabled Infrastructure, Communication Systems], by Technology [Artificial Intelligence (Al) for Predictive Maintenance, Internet of Things (loT) for Device Connectivity, Cloud Computing for Remote Monitoring and Management, Blockchain for Secure Data Sharing, Augmented Reality (AR) and Virtual Reality (VR), Others], by Application (Energy Optimization and Management, Space Management, Safety and Security Enhancement, Predictive Maintenance and Analytics, Environmental Monitoring, Others), by Building Type (Residential Buildings, Commercial Buildings, Industrial Buildings, Institutional Buildings), by Functionality Type (Energy Management Solution, Building Automation Solution, Security and Access Control Solutions, loT and Connectivity Solutions, Space and Occupancy Management, Confort and Wellness Solutions, Data Analytics and Management Solutions, Smart Power Utilities and Solution, Infrastructure Management Solution), and by Region (North America, Europe, Asia Pacific, South America, Middle East and Africa) Forecast till 2035
Industry Overview
The smart buildings market is expected to attain a value of USD 427.33 billion, growing steadily at a 16.1% CAGR during the forecast period. A smart building uses digital technologies and interconnected systems to monitor and control lighting, HVAC, security, and other utilities. These intelligent solutions create efficient, sustainable, and user-friendly environments.
Energy efficiency and sustainability goals are the main factors responsible for an extensive global gigabit buildings adoption. Energy-related emissions from buildings account for around 26% of the total, pushing governments to enforce tighter regulations and efficiency standards. In order to both minimize their energy consumption and cut their operational costs, smart buildings employ cutting-edge technologies like real-time IoT monitoring, predictive energy management, and demand response programs.
Major Company Development
Itron celebrated huge milestones in 2024 with the help of the collaborations it had with its strategic partners. In April, the company lined up a partnership with Cairns Regional Council, Australia, to implement NB-IoT water meters, mesh technology, and Temetra(R) NB-IoT for the better management of energy and water resources. By November, Itron took a step further in Europe by tapping Cielis's assistance to co-manage the implementation of the nearly 200,000 streetlights that are set to be smart in Paris. It not only fosters green practices but also dwells in the cutting-edge smart city's infrastructure trend.
Key Players
Major players in the global smart buildings market include Iron, Inc., Panasonic Holdings Corporation, Johnson Controls, HCL Technologies Ltd., Cisco Systems, Inc., ABB Group, Siemens, Hitachi, Ltd., Honeywell, and IBM.
Report Attribute Details
-  Market Size 2035: USD 427.33 Billion
-  CAGR (2025-2035): 16.1%
-  Base Year: 2024
-  Market Forecast Period: 2025-2035
Industry Segmentations
-  By Solution Type: Building Automation Systems (BAS) - 16.2%, Energy Management Systems - 17.0%.
-  By Technology: Artificial Intelligence (AI) for Predictive Maintenance - 17.5%, Internet of Things (IoT) for Device Connectivity - 16.8%.
-  By Application: Energy Optimization and Management - 17.6%, Space Management - 14.9%.
-  By Building Type (Residential Buildings - 14.4%, Commercial Buildings - 17.1%.
-  By Functionality Type: Energy Management Solution - 17.8%, Building Automation Solution - 16.8%.
Regional Analysis
Among the smart building technology markets, North America is one of the most advanced in this regard, which is mostly attributed to the presence of strong regulatory frameworks and high awareness among developers. The market gets the early benefit of IoT, EMS, and automation systems being integrated, which greatly cuts energy wastage and increases user comfort levels.
The European smart building market relies heavily on the continent's ambitious climate goals and regulations. The area is strongly committed to decarbonization, where the EU has regulations that new buildings should be run with near-zero energy consumption.
The Asia Pacific region is seeing a brisk smart building market where governments and developers are focusing on cleaner infrastructure. The rising urban populations and the escalating need for efficient resource management are the main factors underpinning adoption across the whole region.
In South America, the smart building market is emerging gradually but steadily. Developers are beginning to adopt energy-efficient solutions and automation technologies to lower costs and meet sustainability targets. Torre Reforma in Mexico City is a noteworthy example, combining IoT systems, renewable energy features, and modern BMS to reduce operational inefficiencies.
The Middle East and Africa are positioning themselves as future hubs for smart, sustainable infrastructure. Countries in the Gulf region are investing heavily in high-tech buildings as part of broader smart city projects. Burj Khalifa exemplifies this trend, using smart lighting, advanced insulation, and water-saving systems to achieve efficiency.
TABLE OF CONTENTS
1 EXECUTIVE SUMMARY 
2 MARKET INTRODUCTION 
- 2.1 DEFINITION 
- 2.2 SCOPE OF THE STUDY 
- 2.3 RESEARCH OBJECTIVE 
- 2.4 MARKET STRUCTURE 
3 RESEARCH METHODOLOGY 
- 3.1 OVERVIEW 
- 3.2 DATA FLOW 
- 3.2.1 DATA MINING PROCESS 
 
- 3.3 PURCHASED DATABASE: 
- 3.4 SECONDARY SOURCES: 
- 3.4.1 SECONDARY RESEARCH DATA FLOW: 
 
- 3.5 PRIMARY RESEARCH: 
- 3.5.1 PRIMARY RESEARCH DATA FLOW: 
- 3.5.2 PRIMARY RESEARCH: NUMBER OF INTERVIEWS CONDUCTED 
- 3.5.3 PRIMARY RESEARCH: REGIONAL COVERAGE 
 
- 3.6 APPROACHES FOR MARKET SIZE ESTIMATION: 
- 3.6.1 CONSUMPTION & NET TRADE APPROACH 
- 3.6.2 REVENUE ANALYSIS APPROACH 
 
- 3.7 DATA FORECASTING 
- 3.7.1 DATA FORECASTING TECHNIQUE 
 
- 3.8 DATA MODELING 
- 3.8.1 MICROECONOMIC FACTOR ANALYSIS: 
- 3.8.2 DATA MODELING: 
 
- 3.9 TEAMS AND ANALYST CONTRIBUTION 
4 MARKET DYNAMICS 
- 4.1 OVERVIEW 
- 4.2 DRIVERS 
- 4.2.1 INCREASED DEMAND FOR ENERGY EFFICIENCY & SUSTAINABILITY 
- 4.2.2 GOVERNMENT REGULATIONS & GREEN BUILDING INITIATIVES 
- 4.2.3 IOT-ENABLED SMART AUTOMATION IN BUILDINGS 
 
- 4.3 RESTRAINTS 
- 4.3.1 COMPLEX INTEGRATION WITH LEGACY SYSTEMS 
- 4.3.2 DATA SECURITY & PRIVACY CONCERNS 
 
- 4.4 OPPORTUNITIES 
- 4.4.1 INTEGRATION OF RENEWABLE ENERGY TECHNOLOGIES (RETS) IN SMART BUILDINGS 
- 4.4.2 GROWTH IN RETROFIT AND UPGRADE PROJECTS FOR EXISTING BUILDINGS 
 
- 4.5 TRENDS 
- 4.5.1 ADVANCED SECURITY SYSTEMS 
- 4.5.2 CLOUD-BASED BUILDING MANAGEMENT SYSTEMS (BMS) 
 
- 4.6 COVID-19 IMPACT ANALYSIS 
- 4.6.1 IMPACT ON SEMICONDUCTOR MANUFACTURERS 
- 4.6.2 IMPACT ON  SMART BUILDINGS MARKET 
- 4.6.3 IMPACT OF MARKET DEMAND 
- 4.6.4 IMPACT OF MARKET PRICING 
 
5 MARKET FACTOR ANALYSIS 
- 5.1 SUPPLY CHAIN 
- 5.1.1 COMPONENT SUPPLIERS 
- 5.1.2 PLATFORM DEVELOPERS 
- 5.1.3 SYSTEM INTEGRATORS 
- 5.1.4 END USER 
 
- 5.2 PORTER'S FIVE FORCES MODEL 
- 5.2.1 THREAT OF NEW ENTRANTS 
- 5.2.2 BARGAINING POWER OF SUPPLIERS 
- 5.2.3 THREAT OF SUBSTITUTES 
- 5.2.4 BARGAINING POWER OF BUYERS 
- 5.2.5 INTENSITY OF RIVALRY 
 
6 GLOBAL SMART BUILDINGS MARKET, BY SOLUTION TYPE 
- 6.1 INTRODUCTION 
- 6.2 BUILDING AUTOMATION SYSTEMS (BAS) 
- 6.3 ENERGY MANAGEMENT SYSTEMS 
- 6.4 SECURITY AND ACCESS CONTROL SYSTEMS 
- 6.5 IOT-ENABLED INFRASTRUCTURE 
- 6.6 COMMUNICATION SYSTEMS 
7 GLOBAL SMART BUILDINGS MARKET, BY TECHNOLOGY 
- 7.1 INTRODUCTION 
- 7.2 ARTIFICIAL INTELLIGENCE (AI) FOR PREDICTIVE MAINTENANCE 
- 7.3 INTERNET OF THINGS (IOT) FOR DEVICE CONNECTIVITY 
- 7.4 CLOUD COMPUTING FOR REMOTE MONITORING AND MANAGEMENT 
- 7.5 BLOCKCHAIN FOR SECURE DATA SHARING 
- 7.6 AUGMENTED REALITY (AR) AND VIRTUAL REALITY (VR) 
8 GLOBAL SMART BUILDINGS MARKET, BY APPLICATION 
- 8.1 INTRODUCTION 
- 8.2 ENERGY OPTIMIZATION AND MANAGEMENT 
- 8.3 SPACE MANAGEMENT 
- 8.4 SAFETY AND SECURITY ENHANCEMENT 
- 8.5 PREDICTIVE MAINTENANCE AND ANALYTICS 
- 8.6 ENVIRONMENTAL MONITORING 
9 GLOBAL SMART BUILDINGS MARKET, BY BUILDING TYPE 
- 9.1 INTRODUCTION 
- 9.2 RESIDENTIAL BUILDINGS 
- 9.3 COMMERCIAL BUILDINGS 
- 9.4 INDUSTRIAL BUILDINGS 
- 9.5 INSTITUTIONAL BUILDINGS 
10 GLOBAL SMART BUILDINGS MARKET, BY FUNCTIONALITY TYPE 
- 10.1 INTRODUCTION 
- 10.2 ENERGY MANAGEMENT SOLUTION 
- 10.3 BUILDING AUTOMATION SOLUTION 
- 10.4 SECURITY AND ACCESS CONTROL SOLUTIONS 
- 10.5 IOT AND CONNECTIVITY SOLUTIONS 
- 10.6 SPACE AND OCCUPANCY MANAGEMENT 
- 10.7 COMFORT AND WELLNESS SOLUTIONS 
- 10.8 DATA ANALYTICS AND MANAGEMENT SOLUTIONS 
- 10.9 SMART POWER UTILITIES AND SOLUTION
- 10.10 INFRASTRUCTURE MANAGEMENT SOLUTION 
11 GLOBAL SMART BUILDINGS MARKET, BY REGION 
- 11.1 OVERVIEW 
- 11.2 NORTH AMERICA 
- 11.2.1 US
- 11.2.2 CANADA 
- 11.2.3 MEXICO 
 
- 11.3 EUROPE 
- 11.3.1 GERMANY 
- 11.3.2 UK 
- 11.3.3 FRANCE 
- 11.3.4 RUSSIA 
- 11.3.5 ITALY 
- 11.3.6 SPAIN 
- 11.3.7 REST OF EUROPE 
 
- 11.4 ASIA PACIFIC 
- 11.4.1 CHINA 
- 11.4.2 INDIA 
- 11.4.3 JAPAN 
- 11.4.4 SOUTH KOREA 
- 11.4.5 MALAYSIA 
- 11.4.6 THAILAND 
- 11.4.7 INDONESIA 
- 11.4.8 REST OF ASIA PACIFIC
 
- 11.5 SOUTH AMERICA 
- 11.5.1 BRAZIL 
- 11.5.2 ARGENTINA 
- 11.5.3 REST OF SOUTH AMERICA 
 
- 11.6 MIDDLE EAST AFRICA 
- 11.6.1 GCC COUNTRIES
- 11.6.2 SOUTH AFRICA 
- 11.6.3 REST OF MIDDLE EAST AFRICA 
 
12 COMPETITIVE LANDSCAPE 
- 12.1 INTRODUCTION 
- 12.2 COMPETITOR DASHBOARD 
- 12.3 COMPANY MARKET SHARE ANALYSIS, 2024 (VALUE) 
- 12.4 KEY DEVELOPMENTS & GROWTH STRATEGIES 
- 12.4.1 NEW PRODUCT LAUNCH/ DEVELOPMENT 
- 12.4.2 MERGER & ACQUISITION 
- 12.4.3 CONTRACTS, AWARDS & AGREEMENTS 
- 12.4.4 EXPANSIONS & INVESTMENTS 
 
13 COMPANY PROFILES 
- 13.1 ITRON, INC. 
- 13.1.1 COMPANY OVERVIEW 
- 13.1.2 FINANCIAL OVERVIEW 
- 13.1.3 PRODUCTS/SOLUTIONS/SERVICES OFFERED 
- 13.1.4 KEY DEVELOPMENTS 
- 13.1.5 SWOT ANALYSIS 
- 13.1.6 KEY STRATEGIES 
 
- 13.2 PANASONIC HOLDINGS CORPORATION 
- 13.2.1 COMPANY OVERVIEW 
- 13.2.2 FINANCIAL OVERVIEW 
- 13.2.3 PRODUCTS/SOLUTIONS/SERVICES OFFERED 
- 13.2.4 KEY DEVELOPMENTS 
- 13.2.5 SWOT ANALYSIS 
- 13.2.6 KEY STRATEGIES 
 
- 13.3 JOHNSON CONTROLS 
- 13.3.1 COMPANY OVERVIEW 
- 13.3.2 FINANCIAL OVERVIEW 
- 13.3.3 PRODUCTS/SOLUTIONS/SERVICES OFFERED 
- 13.3.4 KEY DEVELOPMENTS 
- 13.3.5 SWOT ANALYSIS 
- 13.3.6 KEY STRATEGIES 
 
- 13.4 HCL TECHNOLOGIES LTD. 
- 13.4.1 COMPANY OVERVIEW 
- 13.4.2 FINANCIAL OVERVIEW 
- 13.4.3 PRODUCTS/SOLUTIONS/SERVICES OFFERED 
- 13.4.4 KEY DEVELOPMENTS 
- 13.4.5 SWOT ANALYSIS 
- 13.4.6 KEY STRATEGIES 
 
- 13.5 CISCO SYSTEMS, INC. 
- 13.5.1 COMPANY OVERVIEW 
- 13.5.2 FINANCIAL OVERVIEW 
- 13.5.3 PRODUCTS/SOLUTIONS/SERVICES OFFERED 
- 13.5.4 KEY DEVELOPMENTS 
- 13.5.5 SWOT ANALYSIS 
- 13.5.6 KEY STRATEGIES 
 
- 13.6 ABB GROUP 
- 13.6.1 COMPANY OVERVIEW 
- 13.6.2 FINANCIAL OVERVIEW 
- 13.6.3 PRODUCTS/SOLUTIONS/SERVICES OFFERED 
- 13.6.4 KEY DEVELOPMENTS 
- 13.6.5 SWOT ANALYSIS 
- 13.6.6 KEY STRATEGIES 
 
- 13.7 SIEMENS 
- 13.7.1 COMPANY OVERVIEW 
- 13.7.2 FINANCIAL OVERVIEW 
- 13.7.3 PRODUCTS/SOLUTIONS/SERVICES OFFERED 
- 13.7.4 KEY DEVELOPMENTS 
- 13.7.5 SWOT ANALYSIS 
- 13.7.6 KEY STRATEGIES 
 
- 13.8 HITACHI, LTD. 
- 13.8.1 COMPANY OVERVIEW 
- 13.8.2 FINANCIAL OVERVIEW 
- 13.8.3 PRODUCTS/SOLUTIONS/SERVICES OFFERED 
- 13.8.4 KEY DEVELOPMENTS 
- 13.8.5 SWOT ANALYSIS 
- 13.8.6 KEY STRATEGIES 
 
- 13.9 HONEYWELL 
- 13.9.1 COMPANY OVERVIEW 
- 13.9.2 FINANCIAL OVERVIEW 
- 13.9.3 PRODUCTS/SOLUTIONS/SERVICES OFFERED 
- 13.9.4 KEY DEVELOPMENTS 
- 13.9.5 SWOT ANALYSIS 
- 13.9.6 KEY STRATEGIES 
 
- 13.10 IBM 
- 13.10.1 COMPANY OVERVIEW 
- 13.10.2 FINANCIAL OVERVIEW 
- 13.10.3 PRODUCTS/SOLUTIONS/SERVICES OFFERED 
- 13.10.4 KEY DEVELOPMENTS 
- 13.10.5 SWOT ANALYSIS 
- 13.10.6 KEY STRATEGIES