Building Twin

Global Building Twin Market to Reach US$8.9 Billion by 2030

The global market for Building Twin estimated at US$2.4 Billion in the year 2024, is expected to reach US$8.9 Billion by 2030, growing at a CAGR of 24.5% over the analysis period 2024-2030. Building Twin Software, one of the segments analyzed in the report, is expected to record a 28.9% CAGR and reach US$5.8 Billion by the end of the analysis period. Growth in the Building Twin Service segment is estimated at 18.5% CAGR over the analysis period.

The U.S. Market is Estimated at US$624.8 Million While China is Forecast to Grow at 23.0% CAGR

The Building Twin market in the U.S. is estimated at US$624.8 Million in the year 2024. China, the world`s second largest economy, is forecast to reach a projected market size of US$1.3 Billion by the year 2030 trailing a CAGR of 23.0% over the analysis period 2024-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 23.0% and 20.6% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 16.3% CAGR.

Global Building Twin Market - Key Trends & Drivers Summarized

How Are Building Twins Revolutionizing the Construction Industry?

Building twin technology is rapidly transforming the construction and real estate sectors by offering a dynamic, digital representation of physical structures. By integrating real-time data from IoT sensors, AI-driven analytics, and BIM (Building Information Modeling) platforms, building twins provide unprecedented insights into performance monitoring, predictive maintenance, and energy efficiency. As urbanization accelerates and smart city initiatives gain traction, the adoption of building twin solutions is expected to soar. Governments and construction firms are leveraging digital twins to enhance project planning, minimize construction errors, and optimize long-term building operations. With sustainability becoming a top priority, building twin technology is emerging as a crucial tool in reducing carbon footprints and improving resource utilization in large-scale infrastructure projects.

What Role Do Advanced Technologies Play in Enhancing Building Twin Solutions?

The evolution of building twin technology is closely tied to advancements in artificial intelligence, cloud computing, and IoT connectivity. AI-driven simulations allow engineers and architects to test multiple design scenarios before construction, reducing material waste and ensuring compliance with regulatory standards. Cloud-based digital twin platforms enable seamless collaboration among stakeholders, improving project efficiency and transparency. Additionally, IoT integration ensures continuous data collection, offering real-time insights into building performance, structural health, and energy consumption patterns. With the advent of 5G networks, the speed and accuracy of building twin data processing are set to improve further, enabling more precise decision-making in construction management. These technological enhancements are not only streamlining the lifecycle of buildings but also making digital twin solutions more accessible across a wide range of industries.

Which Sectors Are Leading the Adoption of Building Twin Technology?

The construction, real estate, and facility management sectors are at the forefront of building twin adoption. Construction firms are utilizing digital twins to streamline design workflows, detect potential risks, and optimize cost structures. In real estate, digital twins are enhancing asset management by providing virtual walkthroughs, predictive maintenance insights, and real-time occupancy monitoring. The facility management industry is leveraging building twin solutions to optimize HVAC systems, lighting, and security operations, improving occupant comfort and energy efficiency. Additionally, government bodies and smart city developers are investing in building twin technology to enhance urban planning, traffic management, and disaster resilience. As industries recognize the operational and cost-saving benefits of digital twins, their adoption is expected to expand across various sectors.

What Factors Are Driving Market Growth?

The growth in the building twin market is driven by several factors, including the increasing need for smart infrastructure, advancements in AI and IoT, and the rising adoption of cloud-based digital twin platforms. The push for sustainability and energy efficiency in building operations is accelerating the deployment of digital twin solutions in both new and existing structures. Government regulations promoting smart city development and carbon footprint reduction are further fueling demand for building twin technologies. Additionally, the integration of augmented reality (AR) and virtual reality (VR) into digital twin models is enhancing stakeholder collaboration and decision-making. The rapid expansion of urbanization, coupled with the growing demand for real-time building performance analytics, is expected to propel the building twin market forward, making it a vital component of modern infrastructure development.

SCOPE OF STUDY:

The report analyzes the Building Twin market in terms of units by the following Segments, and Geographic Regions/Countries:

Segments:
Component (Building Twin Software, Building Twin Service); Application (Operations and Maintenance, Space Management, Facility Management, Security Management, Smart Automation, Others)

Geographic Regions/Countries:
World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; and Rest of Europe); Asia-Pacific; Rest of World.

Select Competitors (Total 44 Featured) -

• Amazon Web Services, Inc.
• Autodesk Inc.
• AVEVA Group plc
• Bentley Systems, Incorporated
• Dassault Systèmes
• General Electric (GE) Digital
• Hexagon AB
• Honeywell International Inc.
• IBM Corporation
• Johnson Controls International plc
• Microsoft Corporation
• Oracle Corporation
• PTC Inc.
• Robert Bosch GmbH
• Rockwell Automation, Inc.
• SAP SE
• Schneider Electric
• Siemens AG
• Software AG
• Trimble Inc.

TARIFF IMPACT FACTOR

Our new release incorporates impact of tariffs on geographical markets as we predict a shift in competitiveness of companies based on HQ country, manufacturing base, exports and imports (finished goods and OEM). This intricate and multifaceted market reality will impact competitors by artificially increasing the COGS, reducing profitability, reconfiguring supply chains, amongst other micro and macro market dynamics.

We are diligently following expert opinions of leading Chief Economists (14,949), Think Tanks (62), Trade & Industry bodies (171) worldwide, as they assess impact and address new market realities for their ecosystems. Experts and economists from every major country are tracked for their opinions on tariffs and how they will impact their countries.

We expect this chaos to play out over the next 2-3 months and a new world order is established with more clarity. We are tracking these developments on a real time basis.

As we release this report, U.S. Trade Representatives are pushing their counterparts in 183 countries for an early closure to bilateral tariff negotiations. Most of the major trading partners also have initiated trade agreements with other key trading nations, outside of those in the works with the United States. We are tracking such secondary fallouts as supply chains shift.

To our valued clients, we say, we have your back. We will present a simplified market reassessment by incorporating these changes!

APRIL 2025: NEGOTIATION PHASE

Our April release addresses the impact of tariffs on the overall global market and presents market adjustments by geography. Our trajectories are based on historic data and evolving market impacting factors.

JULY 2025 FINAL TARIFF RESET

Complimentary Update: Our clients will also receive a complimentary update in July after a final reset is announced between nations. The final updated version incorporates clearly defined Tariff Impact Analyses.

Reciprocal and Bilateral Trade & Tariff Impact Analyses:

USA
CHINA
MEXICO
CANADA
EU
JAPAN
INDIA
176 OTHER COUNTRIES.

Leading Economists - Our knowledge base tracks 14,949 economists including a select group of most influential Chief Economists of nations, think tanks, trade and industry bodies, big enterprises, and domain experts who are sharing views on the fallout of this unprecedented paradigm shift in the global econometric landscape. Most of our 16,491+ reports have incorporated this two-stage release schedule based on milestones.

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