Middle East & Africa Smart Building Market Size & Outlook
Middle East & Africa smart building market, 2018-2030 (US$M)
Related Markets
MEA smart building market highlights
- The MEA smart building market generated a revenue of USD 8,060.0 million in 2023.
- The market is expected to grow at a CAGR of 28.8% 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, UAE is expected to register the highest CAGR from 2024 to 2030.
MEA data book summary
| Market revenue in 2023 | USD 8,060.0 million |
| Market revenue in 2030 | USD 47,520.0 million |
| Growth rate | 28.8% (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, MEA region accounted for 7.5% 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 |
|---|
Middle East & Africa 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 76.18% in 2023. Horizon Databook has segmented the Middle East & Africa smart building market based on solution, service covering the revenue growth of each sub-segment from 2018 to 2030.
The high demand for smart building solutions and services owing to high government investments in smart cities and notable penetration by global market players in the region is expected to drive the MEA smart building market growth.
State governments of various Middle Eastern cities such as Dubai, Abu Dhabi, Riyadh, Tel Aviv, Istanbul, Doha, and Jeddah are providing contracts to the key market players to implement smart building solutions in various commercial buildings.
For instance, in July 2021, Dubai Electricity and Water Authority (DEWA) selected Microsoft Corporation, Johnson Controls, and Moro Hub to implement smart building management, cybersecurity, AI, and IoT in DEWA’s new headquarters in Dubai.
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Target buyers of Middle East & Africa 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 Middle East & Africa smart building market , including forecasts for subscribers. This continent databook contains high-level insights into Middle East & Africa smart building market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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MEA smart building market size, by country, 2018-2030 (US$M)
Middle East & Africa Smart Building Market Outlook Share, 2023 & 2030 (US$M)
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