The global market for smart buildings is rapidly expanding, expected to reach $201.6 billion by 2031 with an average annual growth rate of 11.3%.
As technological advancements continue to reshape the landscape of modern infrastructure, the global smart building market is experiencing unprecedented rapid growth. The market size in 2022 was $77.6 billion, and the smart building sector is expected to achieve remarkable growth, expanding to $201.6 billion by 2031. This growth trajectory is driven by a robust compound annual growth rate (CAGR) of 11.3% during the forecast period from 2023 to 2031.
Smart buildings are at the forefront of the digital transformation of urban landscapes. These cutting-edge structures integrate advanced technologies, data analytics, and connectivity to enhance efficiency, sustainability, and the living experience.
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