Connected Building Market Expected To Reach $131.67 Billion By 2029

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The Business Research Company's Connected Building Global Market Report 2025 – Market Size, Trends, And Global Forecast 2025-2034

LONDON, GREATER LONDON, UNITED KINGDOM, May 9, 2025 /EINPresswire / -- How Big Is the Connected Building Market and How Fast Is It Growing?

The global connected building market growth has experienced rapid growth in recent years, expanding from $79.63 billion in 2024 to an estimated $88.27 billion in 2025 at a robust compound annual growth rate (CAGR) of 10.9%. This momentum is projected to continue, with the market expected to reach $131.67 billion by 2029, driven by an ongoing emphasis on energy efficiency, sustainability, and smart city development.

What Is the Outlook for the Connected Building Market?

The connected building market is evolving as a vital part of modern infrastructure, integrating advanced technologies to create intelligent environments across residential, commercial, and industrial sectors. With increased adoption of the Internet of Things (IoT), artificial intelligence (AI), and edge computing, connected buildings are enabling real-time monitoring, predictive maintenance, and enhanced security, paving the way for optimized performance and reduced operational costs.

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What Are the Key Trends Shaping the Connected Building Market?

Several technological and strategic trends are shaping the future of the connected building market:

Integration of IoT and AI: Enhanced automation and real-time insights are becoming standard through AI-powered systems and IoT-enabled devices.
Development of Smart HVAC and Lighting Solutions: Energy management is being revolutionized through smart climate and lighting control systems.
Sustainable Building Innovations: Companies like Schneider Electric are launching dedicated divisions for smart and sustainable buildings.
Digital Twins and Blockchain: Real-time building replicas and secure data management are enhancing operational transparency and security.

What Is Driving the Connected Building Market's Growth?

The increasing demand for energy-efficient systems is a major growth driver. Rising energy costs and sustainability goals are prompting businesses and homeowners to adopt smart building technologies. Solutions like IoT-enabled HVAC systems, automated lighting, and intelligent access control are not only reducing energy consumption but also enabling long-term cost savings.

According to a 2022 report by Energy UK, the number of energy efficiency projects must rise sharply-from 150,000 installations per year in 2021 to one million annually by 2030-underlining the scale of transformation underway.

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Who Are the Leading Players in the Connected Building Market?

Prominent companies driving innovation and competition in the connected building market include:

Microsoft Corporation
Amazon Web Services (AWS)
Huawei Technologies Co. Ltd.
Siemens AG
Schneider Electric
Honeywell International Inc.
IBM Corporation
Cisco Systems Inc.
Johnson Controls
ABB Ltd

These players are leveraging cloud platforms, AI, and analytics to deliver comprehensive smart building solutions. Notably, Johnson Controls' acquisition of FM Systems in 2023 enhances its OpenBlue digital capabilities, underscoring a strategic push toward integrated workplace management.

What Are the Segments in the Connected Building Market?

The connected building market is segmented as follows:

By Component:
Solutions
Services

By Technology Platform:
Internet Of Things (IoT)
Mobile Applications
Artificial Intelligence and Machine Learning
Big Data Analytics
Edge Computing Technologies

By Deployment Type:
On-Premises Solutions
Cloud-Based Solutions
Hybrid Solutions

By End-User:
Manufacturing
IT and Telecom
Banking, Financial Services, and Insurance (BFSI)
Healthcare
Residential
Other End-Users

Solutions Subsegments:
Energy Management Solutions
Lighting Control Systems
HVAC Management Solutions
Security and Access Control Systems
Building Automation Platforms
Data Analytics and IoT Solutions
Smart Metering Solutions
Fire and Life Safety Solutions
Network Management Solutions

Services Subsegments:
Consulting Services
Deployment and Integration Services
Managed Services
Support and Maintenance Services
Training and Education Services
Professional Services
Cloud-Based Services

Which Regions Are Leading the Connected Building Market Expansion?

North America currently holds the largest share of the global connected building market , owing to its advanced infrastructure, strong technology adoption, and supportive regulatory frameworks. However, Asia-Pacific is projected to be the fastest-growing region through 2034. Rapid urbanization, rising smart city initiatives, and increased investments in energy efficiency are driving demand in countries like China, India, and Japan.

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