Smart Building

Smart Building

Global Smart Building Market to Reach $84.4 Billion by 2027

Amid the COVID-19 crisis, the global market for Smart Building estimated at US$12.8 Billion in the year 2020, is projected to reach a revised size of US$84.4 Billion by 2027, growing at aCAGR of 30.9% over the period 2020-2027. Building Automation Software, one of the segments analyzed in the report, is projected to record 28.4% CAGR and reach US$44.9 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Services segment is readjusted to a revised 34.3% CAGR for the next 7-year period.

The U.S. Market is Estimated at $3.9 Billion, While China is Forecast to Grow at 30.1% CAGR

The Smart Building market in the U.S. is estimated at US$3.9 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$14.5 Billion by the year 2027 trailing a CAGR of 30.1% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 27.5% and 26.7% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 21.9% CAGR.We bring years of research experience to this 9th edition of our report. The 147-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.

Competitors identified in this market include, among others,

• ABB Group
• BuildingIQ, Inc.
• Cisco Systems, Inc.
• Delta Controls Inc.
• Ecova, Inc.
• GridPoint, Inc.
• Honeywell International, Inc.
• IBM Corporation
• Johnson Controls International PLC
• Legrand North America LLC
• Schneider Electric SA
• Siemens AG
• United Technologies Corporation (UTC)
• Verdigris Technologies, Inc.

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