Press Release

As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.

Global Smart Building Market to Grow at a CAGR of 30% During 2021-2026, Driven by the Increasing Implementation of IoT Enabled Management Systems

According to a new report by EMR titled, ‘Global Smart Building Market Report and Forecast 2021-2026’, the market attained a value of about USD 18 billion in 2020. The industry is further expected to grow at a CAGR of 30% in the forecast period of 2021-2026 to reach a value of USD 83 billion by 2026.

The global smart building industry is being driven by the increasing use of IoT enabled management systems. Additionally, the rising concerns of major players to diminish energy consumption and the development of green HVAC systems are further contributing to the industry growth. On the basis of building type, the commercial building sector accounts for a significant share in the global smart building industry owing to the rising private investments to develop and modernise commercial buildings and enrich the experience of the consumers. Region wise, the Asia Pacific is projected to grow considerably in the forecast period owing to the growing penetration of smart devices and the use of innovative technologies such as cloud computing, IoT, and big data storage, among others. Moreover, the governments across the nations are taking favourable initiatives to transform traditional buildings into green buildings to conserve more energy, thus, aiding the market.

The growing innovations by the leading players in the industry are further facilitating the market growth. In March 2017, Huawei Technologies Co. (SHE: 002502), one of the key players in the industry, announced to collaborate with Honeywell International Inc. (NYSE: HON), another major player in the industry. The partnership is aimed at developing IoT enabled smart building with advanced technologies to make building more secure and energy efficient.  Such collaborations are expected to significantly boost the industry growth over the forecast period.

Market Analysis by Component, Type, Building Type, and Region:

  • The market on the basis of component can be divided into solutions and services.
  • Based on type, the industry can be divided into building infrastructure management (BIM), security and emergency management, energy management, network management, and workforce management, among others.
  • The industry is segmented on the basis of building type into residential, commercial, industrial, and others.
  • The regional markets for smart building include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The global market for smart building is driven by the rising adoption of IoT enabled management systems.
  • The rising awareness about the benefits of energy efficient systems and the rapid technological advancements are further contributing to the market expansion. 
  • The favourable government initiatives are also aiding the market growth. 
  • The increasing investments in smart building projects across the globe are expected to significantly boost the industry growth.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for smart building for the periods (2016-2020) and (2021-2026).
  • The report also offers the historical (2016-2020) and forecast (2021-2026) markets for the components, types, building types, and regions of smart building.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global smart building market are ABB Ltd., Honeywell International Inc., Siemens AG, Huawei Technologies Co., Ltd., Schneider Electric, Legrand, and Cisco Systems, Inc., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over a 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

Contact Us:

Expert Market Research
US & Canada Phone no: +1-415-325-5166
UK Phone no: +44-702-402-5790

*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

Why Expert Market Research?


We are technically excellent, strategic, practical, experienced and efficient; our analysts are hand-picked based on having the right attributes to work successfully and execute projects based on your expectations.


We leverage our cutting-edge technology, our access to trusted databases, and our knowledge of the current models used in the market to deliver you research solutions that are tailored to your needs and put you ahead of the curve.


We deliver in-depth and superior quality research in prices that are reasonable, unmatchable, and shows our understanding of your resource structure. We, additionally, offer attractive discounts on our upcoming reports.


Our team of expert analysts are at your beck and call to deliver you optimum results that are customised to meet your precise needs within the specified timeframe and help you form a better understanding of the industry.

Similar Reports

Global Smart Motors Market Report and Forecast 2021-2026

Global 4D Printing Market Report and Forecast 2021-2026