GITNUX MARKETDATA REPORT 2024

Smart Buildings Industry Statistics

The smart buildings industry is rapidly growing, with a projected market value reaching $160 billion by 2026.

Highlights: Smart Buildings Industry Statistics

  • The global smart building market size was USD 43.8 billion in 2020.
  • It's projected that the smart buildings industry will grow at a CAGR of 10.5% from 2021 to 2026.
  • By 2026, the value of the global smart building market could reach USD 105.8 billion.
  • The Asia Pacific region is anticipated to have the fastest-growing market for smart buildings between 2020-2025.
  • The U.S. market for smart buildings is expected to be worth $34.8 billion in 2021.
  • By 2026, around 41% of all new non-residential buildings in Europe will be smart buildings.
  • Amsterdam's The Edge is considered the greenest smart building in the world.
  • Smart building technology can reduce energy consumption in buildings by 5-35%.
  • Predictive maintenance in smart buildings can save businesses 20% on operational costs.
  • The HVAC system sector holds the largest market share in the global smart buildings market.
  • Up to 80% of new construction costs can be influenced by smart building features.
  • As of 2020, Honeywell, Johnson Controls, and Siemens were the top players in the global smart buildings market.
  • The use of IOT in smart buildings is estimated to reach $22.93 billion by 2025.
  • The smart security monitoring system will hold a significant market share by 2026.
  • The building automation system market, a subset of the smart building industry, is expected to reach $63.2 billion by 2027.
  • The global demand for smart building technology is estimated to surpass $36 billion by 2027.

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The Latest Smart Buildings Industry Statistics Explained

The global smart building market size was USD 43.8 billion in 2020.

The statistic that the global smart building market size was USD 43.8 billion in 2020 indicates the total value of the market for smart building technologies and solutions worldwide during that year. This figure represents the collective sum of investments, expenditures, and revenues generated by various companies and stakeholders operating within the smart building industry, including providers of smart sensors, automation systems, energy management solutions, and other related products and services. The market size serves as a metric to assess the scale and economic significance of smart buildings within the broader construction and technology sectors, highlighting the growing adoption and importance of smart building solutions in optimizing energy efficiency, enhancing occupant comfort and safety, and promoting sustainable practices in building operations.

It’s projected that the smart buildings industry will grow at a CAGR of 10.5% from 2021 to 2026.

This statistic indicates the projected growth rate of the smart buildings industry over a period of five years, specifically from 2021 to 2026. The Compound Annual Growth Rate (CAGR) of 10.5% suggests that the industry is expected to expand steadily at an average rate of 10.5% per year during this period. This growth rate reflects the anticipated increase in adoption and implementation of smart building technologies and solutions, driven by factors such as the growing demand for energy efficiency, sustainability initiatives, and advancements in Internet of Things (IoT) technologies. The projection of a 10.5% CAGR provides valuable insights into the potential growth and opportunities within the smart buildings sector for investors, businesses, and policymakers to consider when planning and strategizing for the future.

By 2026, the value of the global smart building market could reach USD 105.8 billion.

The statistic states that by the year 2026, the global smart building market is projected to achieve a value of USD 105.8 billion. This figure indicates the estimated revenue that the industry is expected to generate from the sale and adoption of smart building technologies and services by that time. Smart buildings are equipped with various automated systems and connected devices that enhance energy efficiency, security, and overall management of the building facility. The projected growth in the market value reflects the increasing demand for sustainable and smart solutions in the construction and real estate sectors, driven by factors such as technological advancements, regulatory requirements, and the growing emphasis on environmental sustainability.

The Asia Pacific region is anticipated to have the fastest-growing market for smart buildings between 2020-2025.

This statistic suggests that the Asia Pacific region is projected to experience the most rapid expansion in the market for smart buildings compared to other regions, such as North America or Europe, within the time frame of 2020 to 2025. This growth is likely fueled by various factors such as rapid urbanization, increasing government initiatives to promote sustainability and energy efficiency, as well as advancements in technology adoption in the construction and real estate sectors across Asian countries. The rise in demand for smarter, more sustainable and energy-efficient buildings in the region is expected to drive the market for smart building technologies, providing significant opportunities for companies operating in the industry to expand and thrive in the Asia Pacific market.

The U.S. market for smart buildings is expected to be worth $34.8 billion in 2021.

The statistic indicates that the market for smart buildings in the United States is forecasted to reach a value of $34.8 billion in the year 2021. This value represents the total estimated revenue generated from the sales, installation, and services related to smart building technologies such as energy management systems, security systems, and building automation systems. The growth of the smart buildings market is driven by increasing awareness of the benefits of smart technology in improving building efficiency, reducing energy consumption, and enhancing occupant comfort and safety. This statistic underscores the significant and growing investment in smart building solutions in the U.S., reflecting the increasing adoption and integration of technology to create more intelligent and sustainable built environments.

By 2026, around 41% of all new non-residential buildings in Europe will be smart buildings.

The statistic implies that there is a growing trend towards the adoption of smart technology in non-residential buildings across Europe, with an estimated 41% of all new constructions projected to be classified as smart buildings by 2026. This indicates a significant shift towards sustainable, energy-efficient, and technologically advanced infrastructure in the region. The increasing focus on smart buildings suggests a commitment to enhancing operational efficiency, reducing energy consumption, and improving overall occupant comfort and safety. This statistic underscores the potential for innovation and transformation within the real estate and construction industries as Europe moves towards a more interconnected and intelligent built environment.

Amsterdam’s The Edge is considered the greenest smart building in the world.

The statistic that Amsterdam’s The Edge is considered the greenest smart building in the world indicates that this particular building is recognized for its exceptional sustainability features and advanced technological capabilities. Being dubbed as the greenest smart building suggests that The Edge incorporates a range of innovative energy-efficient design elements, environmentally friendly materials, and cutting-edge smart technologies for optimizing energy usage and overall building performance. This accolade positions The Edge at the forefront of sustainable building design globally, showcasing a successful integration of environmental consciousness and technological advancements in the architectural landscape.

Smart building technology can reduce energy consumption in buildings by 5-35%.

The statistic that smart building technology can reduce energy consumption in buildings by 5-35% suggests that implementing advanced systems and components such as sensors, automation, and energy management software can lead to significant improvements in resource efficiency. By utilizing data-driven insights and real-time monitoring, smart buildings can optimize heating, cooling, lighting, and other energy-intensive operations to achieve substantial reductions in overall energy usage. The wide range of potential savings, from 5% to 35%, indicates that the extent of energy conservation depends on the specific technologies adopted, the size and type of the building, as well as the efficiency measures implemented. Overall, this statistic highlights the promising impact that smart building technologies can have on promoting sustainability and lowering operational costs in the built environment.

Predictive maintenance in smart buildings can save businesses 20% on operational costs.

This statistic suggests that implementing predictive maintenance strategies in smart buildings can lead to a significant cost savings for businesses, reducing operational costs by 20%. Predictive maintenance involves the use of data and technology to anticipate equipment failures and schedule maintenance activities proactively, before breakdowns occur. By identifying potential issues early and addressing them before they escalate, businesses can avoid costly emergency repairs, system downtimes, and disruptions to operations. This proactive approach not only helps to extend the lifespan of building equipment but also contributes to enhanced efficiency and productivity, ultimately resulting in measurable savings for businesses.

The HVAC system sector holds the largest market share in the global smart buildings market.

This statistic indicates that the HVAC (heating, ventilation, and air conditioning) system sector accounts for the highest proportion of market share within the larger smart buildings market on a global scale. This suggests that the demand for smart HVAC systems, which incorporate advanced technologies for energy efficiency, automation, and remote monitoring/control, is strong and continues to grow. The dominance of HVAC systems in the smart buildings market may be attributed to the significant role they play in enhancing the overall energy efficiency and sustainability of buildings, as well as improving indoor air quality and occupant comfort. This trend highlights the increasing significance of smart technologies in the building sector and underscores the importance of integrating innovative solutions to meet the evolving needs of building owners, operators, and occupants.

Up to 80% of new construction costs can be influenced by smart building features.

The statistic ‘Up to 80% of new construction costs can be influenced by smart building features’ indicates that incorporating technology-related features in building projects can have a significant impact on the overall cost of construction. Smart building features such as energy-efficient systems, sensors for monitoring and automation, and advanced controls can improve the efficiency of a building’s operations, reduce energy consumption, and lower maintenance costs. By investing in these smart technologies at the construction stage, developers and builders have the potential to save up to 80% of the total construction costs over the lifespan of the building. This statistic underscores the importance of considering smart building features as a strategic investment in optimizing long-term operational and financial performance.

As of 2020, Honeywell, Johnson Controls, and Siemens were the top players in the global smart buildings market.

The statistic indicates that as of 2020, Honeywell, Johnson Controls, and Siemens were the leading companies in the global smart buildings market. This suggests that these companies have a significant market share and influence in providing smart building solutions and technologies worldwide. Being top players in the industry implies that these companies have developed advanced and innovative products and services to address the increasing demand for smart building solutions, which typically involve integrating technology to improve the efficiency, sustainability, and overall operations of buildings. This statistic highlights the competitive landscape of the smart buildings market and the dominance of these key players in shaping the industry’s direction and growth.

The use of IOT in smart buildings is estimated to reach $22.93 billion by 2025.

This statistic indicates the projected market value of the Internet of Things (IOT) technology specifically in the smart buildings sector by the year 2025, expected to reach $22.93 billion. This suggests a significant growth in investment and adoption of IOT solutions within the construction industry, as smart buildings become more prevalent. IOT technology allows buildings to have interconnected systems that can improve efficiency, security, and overall operations. The increasing demand for energy-efficient and automated structures is driving this trend, as companies seek to optimize their building management through data-driven decision-making and enhanced connectivity. This statistic highlights the growing importance and potential of IOT in revolutionizing the way buildings are designed, constructed, and managed in the near future.

The smart security monitoring system will hold a significant market share by 2026.

The statistic suggests that the smart security monitoring system is expected to capture a notable portion of the market relative to its competitors by the year 2026. This could be driven by factors such as increasing demand for advanced security solutions, technological advancements in surveillance systems, or a shift towards more automated and intelligent monitoring capabilities. The implication is that the smart security monitoring system is likely to gain traction and become a key player in the industry within the next few years, potentially reshaping the landscape of the market.

The building automation system market, a subset of the smart building industry, is expected to reach $63.2 billion by 2027.

The statistic suggests that the building automation system market, which is a segment within the broader smart building industry, is forecasted to experience significant growth and reach a valuation of $63.2 billion by the year 2027. This growth projection indicates a substantial increase in the adoption and integration of building automation technologies and solutions within various buildings and infrastructure around the world. Factors driving this growth may include the increasing demand for energy-efficient and sustainable buildings, the advancement of Internet of Things (IoT) technology, and the benefits associated with automation in improving operational efficiencies, reducing costs, and enhancing occupant comfort and safety within buildings. The statistic not only highlights the potential economic impact and opportunities within the building automation sector but also underscores the industry’s growing importance in transforming the way buildings are managed and operated in the future.

The global demand for smart building technology is estimated to surpass $36 billion by 2027.

The statistic that the global demand for smart building technology is projected to exceed $36 billion by 2027 indicates a substantial growth trajectory in the adoption of advanced technologies in the construction and real estate sectors. This forecast suggests a significant increase in investment and deployment of smart building solutions, such as IoT devices, automation systems, energy management tools, and data analytics platforms, to enhance operational efficiency, sustainability, and occupant comfort. The trend towards smart buildings is driven by factors like increasing awareness of environmental issues, rising energy costs, and the need for improved building performance and user experience. Companies operating in the smart building technology industry are likely to experience extensive opportunities for growth and innovation as they cater to the evolving needs and preferences of the market.

Conclusion

The statistics presented clearly demonstrate the rapid growth and significant impact of the smart buildings industry. As technology continues to advance and sustainability becomes a top priority, we can expect to see continued innovation and investment in smart building solutions. This industry holds great promise for enhancing efficiency, reducing costs, and creating more sustainable and comfortable built environments for the future.

References

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How we write our statistic reports:

We have not conducted any studies ourselves. Our article provides a summary of all the statistics and studies available at the time of writing. We are solely presenting a summary, not expressing our own opinion. We have collected all statistics within our internal database. In some cases, we use Artificial Intelligence for formulating the statistics. The articles are updated regularly.

See our Editorial Process.

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