Asia Pacific Smart Building Market Size & Outlook
Asia Pacific smart building market, 2018-2030 (US$M)
Related Markets
Asia Pacific smart building market highlights
- The Asia Pacific smart building market generated a revenue of USD 27,620.0 million in 2023.
- The market is expected to grow at a CAGR of 29.7% from 2024 to 2030.
- In terms of segment, solution was the largest revenue generating component in 2023.
- Service is the most lucrative component segment registering the fastest growth during the forecast period.
- Country-wise, Singapore is expected to register the highest CAGR from 2024 to 2030.
Asia Pacific data book summary
| Market revenue in 2023 | USD 27,620.0 million |
| Market revenue in 2030 | USD 170,140.0 million |
| Growth rate | 29.7% (CAGR from 2023 to 2030) |
| Largest segment | Solution |
| Fastest growing segment | Service |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Solution, Service |
| Key market players worldwide | ABB Ltd, Cisco Systems Inc, Emerson Electric Co, Hitachi Ltd, Honeywell International Inc, Intel Corp, Johnson Controls International PLC, LG Electronics Inc ADR, Legrand SA, Schneider Electric SE, Siemens AG, Sierra Wireless, Bosch, KMC Controls, Telit |
Other key industry trends
- In terms of revenue, Asia Pacific region accounted for 25.6% of the global smart building market in 2023.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 170,140.0 million by 2030.
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Smart Building Market Scope
Smart Building Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Asia Pacific smart building market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to smart building market will help companies and investors design strategic landscapes.
Solution was the largest segment with a revenue share of 78.6% in 2023. Horizon Databook has segmented the Asia Pacific smart building market based on solution, service covering the revenue growth of each sub-segment from 2018 to 2030.
The Asia Pacific region is expected to witness remarkable adoption of smart buildings over the forecast period due to increasing internet penetration, high urbanization, and shifting consumer focus toward remote management services through IoT technology. Governments of countries such as India, Singapore, Japan, and China are heavily investing in smart building infrastructure.
Supportive government initiatives for smart cities and rising concerns related to energy consumption among buildings are driving China's smart building market growth. Moreover, industries in the region are focusing on automating their business operations to improve their business operations and reduce overhead costs.
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Target buyers of Asia Pacific smart building market databook
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Our clientele includes a mix of smart building market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of continent-level data and insights on the Asia Pacific smart building market , including forecasts for subscribers. This continent databook contains high-level insights into Asia Pacific smart building market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
Partial client list
Asia Pacific smart building market size, by country, 2018-2030 (US$M)
Asia Pacific Smart Building Market Outlook Share, 2023 & 2030 (US$M)
Related regional statistics
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