Smart Building Market to Hit $554 Billion by 2033 as IoT-Enabled Buildings Reach 115 Million
Updated
Updated · marketscale.com · Jun 17
Smart Building Market to Hit $554 Billion by 2033 as IoT-Enabled Buildings Reach 115 Million
2 articles · Updated · marketscale.com · Jun 17
Summary
$141.79 billion in 2025, the global smart building market is projected by Programa to nearly quadruple to $554 billion by 2033, signaling a shift from discretionary tech spending to core infrastructure investment.
115 million buildings are expected to carry smart IoT systems by the end of 2026, up from 45 million in 2022, as owners tie energy management, predictive maintenance and occupancy tools to measurable operating savings.
Lenders, asset managers and institutional tenants increasingly treat missing smart systems as a risk factor, raising the threat of weaker occupancy and faster obsolescence for conventional properties.
BIM is also moving from optional software to a delivery standard, giving projects the data continuity needed to support energy dashboards, fault detection and space-use analytics.
For vendors and operators, the boom opens a larger but more competitive market, with retrofit programs and proof of ROI becoming critical as older portfolios race to stay competitive.