The AI in Smart Buildings and Infrastructure Market Size is valued at USD 32.8 billion in 2023 and is predicted to reach USD 177.1 billion by the year 2031 at a 23.9% CAGR during the forecast period for 2024-2031.
Artificial Intelligence (AI) in Smart Buildings and Infrastructure use advanced algorithms to efficiently control energy consumption, boost security measures, and enhance the overall comfort of occupants. Notable uses encompass energy management, intelligent lighting, anticipatory maintenance, and surveillance monitoring. Advantages encompass decreased energy expenses, heightened safety, and higher tenant satisfaction. Nevertheless, in order to achieve wider acceptance, it is imperative to tackle obstacles such as the interface with current systems, data privacy concerns, and significant upfront expenses.
Moreover, AI is driving innovation in urban infrastructure planning and management. By analyzing diverse data sources such as traffic patterns, air quality levels, and social media sentiment, AI algorithms can provide valuable insights to urban planners and policymakers. These insights enable informed decision-making regarding infrastructure development, transportation systems, and resource allocation, leading to more sustainable and resilient cities.
Competitive Landscape
Some Major Key Players In The AI in Smart Buildings and Infrastructure Market:
- IBM Corporation
- Siemens AG
- Honeywell International Inc.
- Johnson Controls International plc
- Schneider Electric SE
- ABB Ltd.
- Intel Corporation
- Microsoft Corporation
- Google LLC
- Cisco Systems, Inc.
- Huawei Technologies Co., Ltd.
- Amazon Web Services, Inc.
- Other Market Players
Market Segmentation:
The AI in Smart Buildings and Infrastructure market is categorized into product and application. The type segment is categorized into software, hardware, and services. As per the application segment, the market is divided into Building Energy Management, HVAC Control and Optimization, Security and Surveillance, Predictive Maintenance, Occupancy and Space Management, Lighting Control and Optimization, Emergency Management and Response, and Others. The end users segment comprises commercial buildings, residential buildings, industrial buildings, government buildings, healthcare facilities, educational institutions, retail spaces, and others. Based on AI Technology, the market is segmented into Machine Learning, Computer Vision, Natural Language Processing, Deep Learning, Neural Networks, and Others.
Based On Type, The Software Segment Accounts For A Major Contributor To AI In The Smart Buildings And Infrastructure Market.
The software category is expected to hold a large share in the global AI in Smart Buildings and Infrastructure market. This segment includes solutions for energy management, security, building automation, and facility management. AI-driven software optimizes building operations by analyzing data from various sensors and systems, leading to enhanced efficiency, reduced operational costs, as well as improved occupant comfort. With advancements in machine learning and IoT integration, the demand for AI-based software in smart buildings is on the rise. The software's ability to predict maintenance needs, optimize energy usage, and enhance security systems makes it a critical component of smart infrastructure. This segment is expected to see significant investment and innovation, driving the overall growth of AI in the smart Buildings and Infrastructure Market.
The Building Energy Management Segment Witnessed Rapid Growth.
The Building Energy Management segment is predicted to grow at a rapid rate in the global AI in Smart Buildings and Infrastructure market owing to its pivotal role in enhancing energy efficiency and sustainability. AI-driven BEM systems optimize energy consumption by analyzing data from sensors and smart meters to adjust lighting, cooling, heating, and other systems in real-time. These systems reduce operational costs and environmental impact by predicting energy needs, identifying inefficiencies, and enabling proactive maintenance. With the integration of renewable energy sources, AI can further balance energy loads and storage. The adoption of AI in BEM is driven by the growing demand for green buildings, regulatory requirements for energy efficiency, and the need for cost-effective energy management solutions, making it a critical component of the smart building ecosystem.
In The Region, The North American AI In Smart Buildings And Infrastructure Market Holds A Significant Revenue Share.
The North American AI in Smart Buildings and Infrastructure market is estimated to report the highest market revenue share in terms of revenue in the near future. It can be attributed to rapid technological advancements and a strong emphasis on sustainable development. The region's mature technological landscape and high adoption rates of AI-driven solutions contribute to its leading market position. The increasing focus on energy efficiency, smart city initiatives, and enhanced building management systems drive the demand for AI in this sector. Furthermore, government regulations and incentives for smart infrastructure development bolster market growth. North America's well-established infrastructure, coupled with significant investments in research and development, positions it as a dominant player in the AI in Smart Buildings and Infrastructure market, with projections indicating continued high growth in the coming years.
Recent Developments
- In June 2024, Schneider Electric, a worldwide frontrunner in the digitalization of energy management and automation, revamped its Digital Buildings operations in Canada by introducing the SMART Buildings Division. This transformation represented a strategy shift towards providing all-encompassing solutions and services that aided building owners and operators in attaining their objectives of reducing carbon emissions and promoting sustainability.
- In April 2024, The Saudi real estate developer ROSHN Group has entered into an agreement with Cisco to investigate the application of the Internet of Things in the company's environmentally friendly intelligent buildings. The collaborative framework will involve the utilization of technology produced by the US-based company in the innovation hub of the giga-project, which is scheduled to launch next year.
AI in Smart Buildings and Infrastructure Market Report Scope
|
Report Attribute |
Specifications |
|
Market Size Value In 2023 |
USD 32.8 Bn |
|
Revenue Forecast In 2031 |
USD 177.1 Bn |
|
Growth Rate CAGR |
CAGR of 23.9% from 2024 to 2031 |
|
Quantitative Units |
Representation of revenue in US$ Bn and CAGR from 2024 to 2031 |
|
Historic Year |
2019 to 2023 |
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Forecast Year |
2024-2031 |
|
Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
|
Segments Covered |
By Type, Application |
|
Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; France; Italy; Spain; South East Asia; South Korea |
|
Competitive Landscape |
IBM Corporation, Siemens AG, Honeywell International Inc., Johnson Controls International plc, Schneider Electric SE, ABB Ltd., Intel Corporation, Microsoft Corporation, Google LLC, Cisco Systems, Inc., Huawei Technologies Co., Ltd., and Amazon Web Services, Inc. |
|
Customization Scope |
Free customization report with the procurement of the report and modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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