Smart Building Market by Component (Hardware, Software, Services), by Solution (Building Infrastructure Management, Security and Emergency Management), by Region (North America, Asia Pacific, Europe, Middle East and Africa, South America) – Global Forecast (2020 to 2027)

Smart Building Market - Global Industry Analysis and Forecast 2020 to 2027

Smart Building Market: Summary

The Global Smart Building Market is projected to reach a value of over USD 145.3 billion by 2027 at a CAGR of around 11.5%

A smart building is refers to a structure which uses automated processes to automatically control the building operations. It uses sensors, microchips, and actuators to collect the data and manage as per the business services and functions. Whereas, it benefit the owners as well as the operators to enhance the performance by minimizing the use of energy, and reduce the environmental impact of buildings. Moreover, it also helps to provide the most cost effective way to design and deployment of building technology system. These advancement will boost the growth of the market in the forecast period.

Smart Building Market

Smart Building Market: Drivers & Restraints

Market Driver:

  • Implementation of IoT Platform In The Building Automation Technology

With the implementation of IoT platform in the building automation technology is witness to boost the growth of the market in the forecast period. Whereas, it helps to enable to automate the building, technology, as well as energy systems to enhance the facility. Also, it can advance with the features such as operation cost reduction, enhance occupancy service as well as help to reduce the building impact on environments.

Furthermore, it also helps to provide access to real-time monitoring of electric, water and gas meters. As well as the IoT also facilitates asset digitization at the building or at the individual asset level. Moreover, the IoT smart building leverage sensors, cloud technology, control range of building system from air conditioning to lighting as well as security system. Hence, these will lead to fuel the grow the of the market in the forecast period.

Market Restraints:

  • High Initial Investment

One of the major key concern of the market is the high initial investment which may hamper the market growth. Whereas, the high initial cost is being need for developing, installing and designing systems combine with the technical knowledge, which may hamper the market growth. However, the smart building concept is lead to the implementation of the technology growth in the construction sector worldwide. As the deployment of this concept is except to create a heavy initial cost which is the challenging factor for the market growth.

Hence, the high initial investments required for constructing a smart building is the major factor which may restraining the growth of smart building market.

Smart Building Market: Key Segments

  • Segmentation based on Component: Hardware, Software and Services.
  • Segmentation based on Solution: Building Infrastructure Management, Security and Emergency Management and Energy Management.
  • Segmentation based on End-User: Residential, Commercial and Industrial.
  • Segmentation based on region covers: North America, Europe, Asia-Pacific, Middle East & Africa and South America with individual country-level analysis.

Smart Building Market: Report Scope

The report on the smart building market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.

Report Features


Historical/Estimated/Forecasted Market Size Years


Base Year for Market Calculation


Forecasted Period

2021-2027 (2021 estimated year, forecasted up to 2027)

Measured Units

Value (USD Million)

Segments Included

Component, Solution, End-User, and Region

Regional Coverage

North America, Asia-Pacific, Europe, Middle East & Africa, South America

Key Companies Covered

  • Cisco Systems, Inc. (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
  • IBM Corporation
  • Hitachi, Ltd.
  • Honeywell International Inc.
  • Siemens
  • ABB
  • Schneider Electric
  • Intel Corporation
  • Huawei Technologies Co., Ltd.
  • Johnson Controls International PLC
  • Other Key Companies
    • PointGrab Inc.
    • 75F
    • Telit
    • PTC

Smart Building Market: Report Segmentation

For the scope of the report, In-depth segmentation is offered by Forencis Research

Smart Building Market, by Component

  • Hardware
  • Software
  • Services
    • System Integration and Deployment
    • Support and Maintenance
    • Consulting

Smart Building Market, by Solution

  • Building Infrastructure Management
    • Smart Water Management System
    • Parking Management System
  • Security and Emergency Management
    • Access Control System
    • Video Surveillance System
  • Energy Management
    • HVAC Control System
    • Lighting Control System

Smart Building Market, by End-User

  • Residential
  • Commercial
  • Industrial

Smart Building Market, by Region

  • North America
    • US
    • Canada
    • Mexico
  • Asia-Pacific
    • China
    • India
    • Japan
    • Taiwan
    • South Korea
    • Rest of Asia-Pacific
  • Europe
    • Germany
    • France
    • Italy
    • UK
    • Russia
    • Rest of Europe
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • Rest of Middle East & Africa
  • South America
    • Brazil
    • Argentina
    • Rest of South America

Key Questions Answered By The Report

  • What are the prominent developments affecting the market worldwide and its growth?
  • What will be the impact of the developments in the market on the industry and on the market players in the future?
  • What are the evolving variations of the market globally?
  • What are the evolving functions of the market globally?
  • What are the prominent aspects that will affect market growth globally during the study period?
  • Who are the key players operating in the market across the globe?
  • How are the key players leveraging in the present market scenario worldwide?

Report Audience

  • Smart Building Market Providers
  • Smart Building Market Solution and Services Suppliers, Distributors and Dealers
  • End-Users of Varied Segments of Smart Building Market
  • Government Bodies and Intellectual Institutions
  • Associations and Industrial Organizations
  • Research & Consulting Service Providers
  • Research & Development Organizations
  • Investment Banks & Private Equity Firms


    1. Research Objectives
    2. Market Definition
    3. Research Scope
    4. Regional Coverage
    5. Research Timeline
    6. Assumptions
    7. Limitations
    1. Introduction
    2. Primary Research
      1. Key Industry Expert Insight
    3. Secondary Research
      1. Vital Data from Secondary Sources
    4. Market Size Estimation
    5. Data Validation & Triangulation
    1. Introduction
    2. Drivers
      1. Implementation of IoT Platform in The Building Automation Technology
      2. Growing Adoption of Energy Saving Technologies
    3. Restraint
      1. Rising Privacy and Security Concerns
    4. Opportunities
      1. Growing Demand for Smart Cities Project Across the Globe
      2. Increasing Awareness About Energy Consumption
      3. Emergence of 5G Technology
    5. Challenges
      1. High Initial Investment
      2. Lack of Skilled Professionals
    1. Introduction
      1. Power of Buyers
      2. Power of Suppliers
      3. Intensity of Competition
      4. Challenges of Substitutes
      5. Challenges of New Entrants
    2. Macro-Economic Indicators
  6. GLOBAL SMART BUILDING MARKET BY COMPONENT, Market Size in USD Million (2019-2027)
    1. Introduction
    2. Hardware
    3. Software
    4. Services
      1. System Integration and Deployment
      2. Support and Maintenance
      3. Consulting
  7. GLOBAL SMART BUILDING MARKET BY SOLUTION, Market Size in USD Million (2019-2027)
    1. Introduction
    2. Building Infrastructure Management
      1. Smart Water Management System
      2. Parking Management System
    3. Security and Emergency Management
      1. Access Control System
      2. Video Surveillance System
    4. Energy Management
      1. HVAC Control System
      2. Lighting Control System
  8. GLOBAL SMART BUILDING MARKET BY END-USER, Market Size in USD Million (2019-2027)
    1. Introduction
    2. Residential
    3. Commercial
    4. Industrial
  9. GLOBAL SMART BUILDING MARKET BY REGION, Market Size in USD Million (2019-2027)
    1. North America
      1. US
      2. Canada
      3. Mexico
    2. Europe
      1. Germany
      2. France
      3. Italy
      4. UK
      5. Russia
      6. Rest of Europe
    3. Asia-Pacific
      1. China
      2. India
      3. Japan
      4. Taiwan
      5. South Korea
      6. Rest of Asia-Pacific
    4. Middle East and Africa
      1. Saudi Arabia
      2. UAE
      3. Rest of Middle East and Africa
    5. South America
      1. Brazil
      2. Argentina
      3. Rest of South America
    1. Introduction
    2. Market Ranking/Share Analysis of Key Companies
    3. Company Benchmarking
    1. Cisco Systems, Inc.
      1. Company Overview
      2. Financial Overview
      3. Products/Solutions/Services Offered
      4. Key Developments
      5. SWOT Analysis
    2. IBM Corporation
    3. Hitachi, Ltd.
    4. Honeywell International Inc.
    5. Siemens
    6. ABB
    7. Schneider Electric
    8. Intel Corporation
    9. Huawei Technologies Co., Ltd.
    10. Johnson Controls International PLC
    11. Other Key Companies
      1. PointGrab Inc.
      2. 75F
      3. Telit
      5. PTC
    1. Key Industry Expert Insights
    2. Primary Discussion Guide
    3. Customization Options

Note1: Tentative table of contents, may get updated during the course of research.

Note2: Company financial information is subject to availability in public domain


Rep Id : ICT 0108

Published : September, 2020

Related Reports


Ready To Make a Real Change?