Austin, July 09, 2025 (GLOBE NEWSWIRE) — The Building Twin Market was valued at USD 2.1 billion in 2024 and is projected to reach USD 24.0 billion by 2032, expanding at a CAGR of 35.24% from 2025 to 2032.
Growing demand for real-time monitoring of building performance, predictive maintenance, and energy efficiency optimization among construction and real estate companies is fueling the rapid adoption of digital twins. By integrating IoT, AI, and BIM technologies, we enhance the decision-making capabilities, improve lifecycle management, and reduce the operational costs. In addition, global building twin solution adoption is being driven by smart city initiatives and an increased focus on sustainable infrastructure.
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The U.S. Building Twin Market is projected to grow from USD 0.3 billion in 2024 to USD 3.8 billion by 2032, registering a CAGR of 36.7%.
Rapid adoption of smart building technologies, increased investment in infrastructure modernization, and integration of IoT and AI for real-time data analytics are key factors driving growth. Government support for energy-efficient construction further boosts demand for digital twin solutions.
Key Players:
- Microsoft Corporation
- Siemens AG
- IBM Corporation
- Oracle Corporation
- Schneider Electric SE
- Johnson Controls International plc
- General Electric Company
- PTC Inc.
- Trimble Inc.
- Dassault Systèmes SE
Building Twin Market Report Scope:
| Report Attributes | Details |
| Market Size in 2024 | USD 2.1 Billion |
| Market Size by 2032 | USD 24.0 Billion |
| CAGR | CAGR of 35.24% From 2025 to 2032 |
| Base Year | 2024 |
| Forecast Period | 2025-2032 |
| Historical Data | 2021-2023 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Drivers | • Increased Efficiency and Automation Drive Smart Building Technology Adoption. |
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By Component, Software Segment Dominated the Building Twin Market in 2024 with 64% Share Due to Integrated Real-Time Monitoring and Predictive Capabilities
In 2024, the software segment held the largest share of the building twin market at 64%, owing of integrated software platforms which enable real-time tracking, predictive analytics, and energy optimization. Increasing AI, IoT & machine learning adoption into software to help drive sustainable operations and cost efficiency Greater prevalence in commercial, industrial, and residential domains advances digital transformation initiatives.
By Application, Facility Management Segment Led the Building Twin Market, Smart Automation Segment to Record Fastest CAGR
In 2024, the facility management segment held the largest revenue share in the building twin market. The reason behind its dominance is its processing power between cost and comfort for the occupants, performed locally in its environment. With rising sustainability targets the growth of integrated solutions continues to be accelerated with utilities adopting integrated solutions for real-time monitoring, predictive maintenance, and energy efficiency among others.
The smart automation segment is expected to grow at the fastest CAGR during 2025–2032, owing to technology advancements in AI, IoT, and machine learning. They allow intelligent automation of building systems such as HVAC, lighting, and security systems, resulting in improved energy consumption and reduced operational costs. Increasing need for self-learning and adaptive systems is fueling the segment market growth.
By End-Use, Commercial Segment Dominated the Building Twin Market, Industrial Segment to Witness Fastest CAGR
In 2024, the commercial segment accounted for 45% of the building twin market revenue, fueled by increasing adoption of building twins in office spaces, retail hubs, and real estate. They increase energy efficiency, lower maintenance costs, and improve occupant experience. Further solutions for smart buildings, sustainability mandates, green building requirements, and the increasing demand for predictive analytics will drive continued leadership in the developed and emerging markets.
The industrial segment is projected to grow at the fastest CAGR during 2025–2032, driven by adoption of automation in manufacturing plants, warehouses, and logistics centers. Digital twins enable real-time monitoring, predictive maintenance and life-cycle optimization. The industrial sector is embracing this game-changing technology at a breakneck pace; transitioning to Industry 4.0, mesh of IoT sensors, and increased expectation of operational transparency and automation are powering their adoption.
North America Led the Building Twin Market, Asia Pacific to Witness Fastest CAGR
North America dominated the building twin market in 2024 with a 41% revenue share, owing to early adoption of smart building technologies, great digital infrastructure, and integration of IoT and AI in significant scale across the region. On commercial and industrial fronts, high investments in smart cities, sustainable initiatives & green building regulations, and the availability of major market players continue to bolster growth.
The Asia Pacific region is expected to register the fastest CAGR during the forecast period, due to high urbanization, growth in construction, and large scale smart city investments. The adoption is mainly driven by digital transformation, automation focus, and national energy efficiency goals. The solid growth of market across myriad emerging economies is supported by government-backed sustainability mandates pertaining to commercial sophistication integrated infrastructure and the increasing emphasis on operational and energy expenditure management.
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