Smart Building Market Size Analysis and Top Companies
The global smart building market size is predicted to reach around USD 254.59 billion by 2033 from USD 90.72 billion in 2023 with a registered CAGR of 10.70% from 2024 to 2034. The top companies operating in the smart buildingn are Siemens AG, Schneider Electric, ABB Ltd., Cisco Systems Ltd., IBM Corp., United Technologies, Delta Controls, Building IQ, Johnson Controls, Honeywell International Inc., Legrand, Hitachi Ltd., Thales Group, Accenture, Emerson Electric Company.
Market Report Coverage
| Report Coverage |
Details |
| Market Size in 2023 |
USD 90.72 Billion |
| Market Size by 2033 |
USD 254.59 Billion |
| Growth Rate from 2024 to 2033 |
CAGR of 10.70% |
| Largest Market |
North America |
| Base Year |
2023 |
| Forecast Period |
2024 to 2033 |
| Segments Covered |
Component, Application, System, Technology |
Smart Building Key Players
- Siemens AG
- Schneider Electric
- ABB Ltd.
- Cisco Systems Ltd.
- IBM Corp.
- United Technologies
- Delta Controls
- Building IQ
- Johnson Controls
- Honeywell International Inc.
- Legrand
- Hitachi Ltd.
- Thales Group
- Accenture
- Emerson Electric Company
Recent Developments
- In May 2021, Honeywell International Inc. launched connected buildings solution to help operators make smarter real estate decisions.
- In June 2020, Honeywell International Inc. and SAP Cloud partnered.
- together to improve building performance with integrated, cloud-based business and operational technology data.
- In February, 2020, Honeywell International Inc. launched first autonomous building sustainability solution to fight rising global energy consumption.
- Honeywell and Nexii Building Solutions Inc. formed a strategic partnership in July 2021 to advance the development of low-impact structures. Honeywell will be the only building technology supplier for Nexii's new buildings under this agreement, including equipment that help save energy and money.
- Hitachi, Ltd. declared the creation of an internet of things platform in December 2020, which will provide buildings with the high added value necessary for the new normal, such as increased building management efficiency and improved user comfort.
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