International. A report by Guidehouse Insights states that global revenue from smart building solutions will grow from $54.8 billion in 2023 to $119.8 billion in 2032, with a compound annual growth rate (CAGR) of 9.1%.
"The global market for smart building solutions will continue to experience strong growth, as smart buildings move from being a solution for some users to becoming mainstream," says William Hughes, principal research analyst at Guidehouse Insights.
Market trends for smart building solutions vary by building type and region. These trends reflect needs for different types of buildings, taking into account regional variations in levels of economic prosperity, adoption rates of new building technologies, and regulatory mandates.
However, Hughes is convinced that the growth trend will continue: "Determining whether a new commercial building will have a smart building application is no longer a big question. Smart buildings generate significantly better results," he emphasizes.
About the report
Guidehouse Insights examines the global market for commercial smart building solutions. The company analyzes market conditions, technology issues, and trends to estimate the adoption and success of these systems.
The report includes market size forecasts and revenue analysis from 2023 to 2032 for five global regions (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa). The executive summary of the document is available for free download online.
