Rapid Recovery Likely For Smart Buildings Market

MarketsandMarkets report concurs with previous growth predictions

A new report by leading market research firm MarketsandMarkets predicts that the global smart buildings market will grow from US$ 66.3 bn in 2020 to US$ 108.9 bn by 2025. The 10.5 percent Compound Annual Growth Rate (CAGR) estimate from MarketsandMarkets aligns with that of earlier studies. A 2020 report by The Business Research Company identified a 15 percent market contraction as a result of the 2019--20 coronavirus pandemic but predicted renewed growth from 2023 onwards.

Read the report here.