Latin America Smart Building Market Size & Outlook
Latin America smart building market, 2018-2030 (US$M)
Related Markets
Latin America smart building market highlights
- The Latin America smart building market generated a revenue of USD 5,500.0 million in 2023.
- The market is expected to grow at a CAGR of 27.2% 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, Argentina is expected to register the highest CAGR from 2024 to 2030.
Latin America data book summary
| Market revenue in 2023 | USD 5,500.0 million |
| Market revenue in 2030 | USD 29,640.0 million |
| Growth rate | 27.2% (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, Latin America region accounted for 5.1% 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 |
|---|
Latin America 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 77.09% in 2023. Horizon Databook has segmented the Latin America smart building market based on solution, service covering the revenue growth of each sub-segment from 2018 to 2030.
The emergence of IoT technologies and the significant penetration of global players are driving the smart building industry growth in Latin America. Advancements in cloud integrations and proliferation of digital infrastructure service providers in the region are further contributing to the market growth.
The global market players are improving their brand presence in Latin America to achieve higher profitability in this potential market. For instance, in April 2019, Igor, a smart building service company, partnered with CPV Micro to provide smart lighting Power over Ethernet (PoE) technology for smart buildings in Mexico.
Brazil is witnessing high demand for smart building solutions and services owing to the rising focus of end-use companies on reducing maintenance costs and enhancing resource utilization and building efficiency.
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Target buyers of Latin America 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 Latin America smart building market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America smart building market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Latin America smart building market size, by country, 2018-2030 (US$M)
Latin America Smart Building Market Outlook Share, 2023 & 2030 (US$M)
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