Global Smart Building market to top US$408 billion by 2030
The second edition of the Smart Building Summit has begun atLight + Intelligent Building Middle East, the region’s largest exhibition for lighting and building technology, with insights from a range of experts highlighting the potential growth of the industry and the path to creating sustainable smart buildings.
Speaking at the event, which takes place until Thursday, 18 January, at the Dubai World Trade Centre, Grace Najjar, CEO of Align Management Solutions, outlined that the global smart buildings market is expected to increase in value from US$96 billion in 2023 to an estimated US$408 billion by 2030. Meanwhile, as construction and real estate account for 40% of carbon emissions, government support of sustainable building sectors could save around 4.8 trillion dollars globally over the next three years, and the building sector will see an average CO2 emissions reduction of 6% per year until 2025.
She explained: “We have a unique opportunity to delve into why the era of smart buildings is upon us and how it is reshaping our environment for the better. Dubai, one of the fastest-growing cities in the world, is home to more than 150 skyscrapers, including the world’s tallest building. Under Dubai’s Clean energy strategy, the country will produce 75 per cent of its energy from clean energy sources by 2050.
“Dubai aims to become the city with the smallest carbon footprint in the world. Developing smart and sustainable buildings will be critical to this success.”
The Middle East stands out at the forefront of this global shift, with forward-looking cities and countries known for benchmark setting.
“Smart buildings are leaving a positive legacy as they focus on long-term success on wellbeing, technical excellence, ambition, contemporary and flexible design, outstanding innovation, user experience, as well as digitalisation and collaboration,” added Najjar.
Meanwhile, H.E Dr Ali Jassim, Chairperson, Emirates Green Building Council, discussed the path to sustainable smart buildings during the Smart Building Summit opening session at Light + Intelligent Building Middle East, the region’s largest exhibition for lighting and building technology.
As well as highlighting their potential to reduce emissions and resource consumption, he also discussed COP28’s role in shaping building regulations.
Elsewhere on the Smart Building summit agenda were sessions including Healthy Buildings and Communities Contribute to a Healthier Planet; Smart Cities, Smarter Buildings: Expo City’s Sustainable Development Story; Unleashing the Power of AI in Buildings; Revolutionising Energy Efficiency and Occupant Satisfaction; and Dark and smart cities of North.
Spanning three halls and denoting a 75% growth in event space and a 128% growth in exhibitor numbers from last year, over 400 international exhibitors will showcase the latest trends, innovations and technologies in the lighting, electrical engineering and smart building sectors during the three-day Light + Intelligent Building Middle East showcase.
The event takes place from Tuesday, January 16, to Thursday, January 18, at the Dubai World Trade Centre.
Last Updated on 1 month by Middle East News 247