Market Size And Forecast: Smart Building Software 2022-2028 (Global)

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Executive Summary

This report helps real estate software suppliers, professionals and investors understand the current state and size of the global smart building and real estate management software market, as well as the trends and drivers that will shape the market into 2028. The Verdantix model incorporates updated analysis of macro-economic drivers, disclosed and estimated supplier revenue figures, survey data, customer budget changes and insights from interviews with software vendors. The software market encompasses solutions across four functionality areas: real estate management, asset and maintenance management, energy and sustainability management, and space and workplace management. At the close of 2022, Verdantix valued the market at nearly $7.3 billion; and forecasts the market to grow at a CAGR of 8%, reaching $11.8 billion by 2028. Our analysis comprises regional, country and software functionality area breakdowns.

Table of contents

Stability amid turbulence: smart building software market enjoys steady growth despite recent economic shocks
Market size data reflect aggregate supplier revenues, customer uptake and buying trends
The smart building software market was worth $7.3 billion in 2022
Cost reduction strategies dominate the multiple objectives shaping the market forecast
Sustainability-driven business priorities and workplace transformation will spur investment in smart building software
The smart building software market will reach $11.8 billion in 2028

Table of figures

Figure 1. Market segment definitions across four software functionality areas
Figure 2. Verdantix market size and forecast methodology
Figure 3. Regional breakdown of the global smart building software market
Figure 4. Updated macro drivers of the smart building software market
Figure 5. 2022 smart building software spend by region and country
Figure 6. 2022 smart building software spend by software functionality area
Figure 7. 2022 smart building software spend by software functionality area and region
Figure 8. Use of commercial software to support space monitoring
Figure 9. Smart building software forecast by software functionality area 2022-2028
Figure 10. Smart building software forecast by region 2022-2028

About the authors

Amelia Feehan

Senior Analyst
Amelia is a Senior Analyst in the Verdantix Smart Buildings practice. Her current research agenda focuses on digital twins, IoT solutions and architecture, engineering and construction (AEC) software. Prior to joining Verdantix, Amelia worked as a façade engineer at Arup, where she gained experience in sustainable building design and construction. She holds an MEng in Civil, Structural and Environmental Engineering from Trinity College Dublin.

Rodolphe d’Arjuzon

MD and Global Head of Research
Rodolphe co-founded Verdantix in 2008 and directs the firm’s research strategy across all practice areas. Rodolphe has over 20 years of experience in technology research and strategy consulting. He previously worked for Barclays Bank and L.E.K. Consulting. Rodolphe holds a PhD in Physics from the University of Cambridge.

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