Europe Smart Building Market Size & Outlook, 2023-2030
Europe smart building market, 2018-2030 (US$M)
Related Markets
Europe smart building market highlights
- The Europe smart building market generated a revenue of USD 28,720.0 million in 2023.
- The market is expected to grow at a CAGR of 25.7% 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, Spain is expected to register the highest CAGR from 2024 to 2030.
Europe data book summary
| Market revenue in 2023 | USD 28,720.0 million |
| Market revenue in 2030 | USD 142,730.0 million |
| Growth rate | 25.7% (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, Europe region accounted for 26.6% 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 |
|---|
Europe 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 76.04% in 2023. Horizon Databook has segmented the Europe smart building market based on solution, service covering the revenue growth of each sub-segment from 2018 to 2030.
The smart building market is witnessing significant growth in Europe owing to the rising adoption of Industry 4.0 technologies and the development of emerging technologies such as big data analytics, IoT, AI, and ML. Governments of countries such as Sweden, Norway, Italy, and France are focusing on digitalizing building operations to improve consumer safety and building efficiency.
European Union (EU) is launching new smart cities projects with strong support from European Investment Bank (EIB) in various European countries, supporting the industry growth.
Such investments are expected to propel the demand for safety systems, access control systems, and other smart building solutions.
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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 Europe smart building market , including forecasts for subscribers. This continent databook contains high-level insights into Europe smart building market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Europe smart building market size, by country, 2018-2030 (US$M)
Europe Smart Building Market Outlook Share, 2023 & 2030 (US$M)
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