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Smart Building Market Report 2022-27: Share, Size, Demand And Industry Trends

Smart Building Market

According to IMARC Group’s latest report, titled “Smart Building Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global smart building market is expected to exhibit a CAGR of 11.24% during 2022-2027.


A smart building is equipped with various automated processes that enable occupants to control electronic home devices from a remote location. It primarily comprises HVAC systems, occupancy sensors, security devices, advanced lighting controls, water management devices, and parking assistance systems. Smart buildings are also integrated with advanced technologies, such as the Internet of Things (IoT) and artificial intelligence (AI), that can be programmed by entering a single command. These technologies assist in optimizing space, reducing energy consumption and operative costs, and conducting preventive maintenance of the building. As a result, smart buildings are widely adopted across residential, hospitality, retail, and healthcare sectors.


We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.


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Market Trends and Drivers:

The smart building market is primarily driven by the rising number of smart cities across the globe. In addition, the growing consumer awareness regarding energy conservation represents another major growth-inducing factor. Besides this, governing authorities of various developed and developing nations are undertaking favorable initiatives to construct smart infrastructures. This, coupled with the growing popularity of automation systems relating to security, entertainment, telecommunications, and facility management, is escalating the demand for energy-efficient buildings. Moreover, the rising security concerns have prompted individuals to adopt access control, video surveillance, and emergency systems in smart buildings. Furthermore, various technological advancements, such as the integration of big data, cloud computing, data analytics, and artificial intelligence (AI) with building systems, and the increasing penetration of Internet-of-Things (IoT)-based devices for remote monitoring are creating a favorable market outlook across the globe.


Smart Building Market 2022-2027 Competitive Analysis and Segmentation:

Competitive Landscape With Key Players:

The competitive landscape of the global smart building market has been studied in the report with the detailed profiles of the key players operating in the market.

Some of these key players include:

  • ABB Ltd
  • Cisco Systems Inc.
  • Hitachi Ltd.
  • Honeywell International Inc
  • Huawei Technologies Co. Ltd.
  • IBM Corporation
  • Intel Corporation
  • Johnson Controls International Public Limited Company
  • Schneider Electric SE
  • Siemens AG


Key Market Segmentation:

The report has segmented the global smart building market on the basis of technology, component, end user and region.


Breakup by Technology:

  • Building Infrastructure Management (BIM)
    • Parking Management System
    • Smart Water Management System
    • Elevators and Escalators Management System
  • Security and Emergency Management
    • Access Control System
    • Video Surveillance System
    • Safety System
  • Energy Management
    • HVAC Control System
    • Lighting System
  • Network & Communication Management
  • Workforce Management
  • Others


Breakup by Component:

  • Hardware
  • Software
  • Service
    • Professional Service
    • Managed Service


Breakup by End User:                                                      

  • Commercial
  • Residential
  • Government & Public Infrastructure
  • Healthcare
  • Education
  • Transport
  • Manufacturing & Industrial
  • Others


Breakup by Region:                                    

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • Middle East and Africa


Ask Analyst for Customization and Explore Full Report With TOC & List of Figures:


Key Highlights of the Report:

  • Market Performance (2016-2021)
  • Market Outlook (2022-2027)
  • Market Trends
  • Market Drivers and Success Factors
  • Impact of COVID-19
  • Value Chain Analysis
  • Comprehensive mapping of the competitive landscape


If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.


About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.

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