Product Code: PM5222
The global building twin market size is expected to reach USD 43,604.20 million by 2032, according to a new study by Polaris Market Research. The report "Global Building Twin Market Size, Share, Trends, Industry Analysis Report, By Offering (Software Solutions and Services), Application, End Use, and By Region (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa); Market Forecast, 2024 - 2032" gives a detailed insight into current market dynamics and provides analysis on future market growth.
The building twin market is experiencing rapid growth due to technological advancements, increasing urbanization, and the rising demand for sustainable infrastructure. Building twins, which are digital replicas of physical buildings, allows for real-time monitoring, predictive maintenance, and operational optimization throughout the entire lifecycle of a building. These digital twins integrate various data sources, including IoT sensors, to provide a comprehensive view of a building's performance, enabling better decision-making and resource management. The market's expansion is also being fueled due to the increasing development in the commercial sector. The urban populations continue to grow, there is a rising demand for commercial spaces, including office buildings, shopping centers, hotels, and mixed-use developments.
The commercial sector is increasingly adopting building twin technologies to enhance the efficiency and sustainability of these spaces. Building twins offer significant benefits for commercial properties by enabling facility managers to monitor and control building systems in real time. For instance, in large commercial complexes, digital twins can be used to manage heating, ventilation, and air conditioning (HVAC) systems more efficiently, reducing energy costs and ensuring a comfortable environment for occupants.
The growing focus on sustainability in the commercial sector is driving the adoption of building twins. Commercial buildings are among the largest consumers of energy, and there is increasing pressure on property owners and managers to reduce their carbon footprints and comply with environmental regulations. Building twins provides a powerful tool for achieving these goals by offering detailed insights into energy usage and identifying opportunities for improvement.
In addition to sustainability, the need for enhanced operational efficiency in commercial buildings is another significant driver of the building twin market. Building twins enables a more proactive approach to building management, allowing issues to be detected and addressed before they escalate into costly problems. This is particularly important in high-traffic commercial spaces, where disruptions have a significant impact on business operations and tenant satisfaction.
Building Twin Market Report Highlights
In 2024, the software solution segment accounted for the largest revenue share in the building twin market due to its critical role in enabling real-time data integration, advanced analytics, and predictive maintenance, which are essential for optimizing building performance and sustainability.
The industrial segment is growing at a significant CAGR due to building twin significant potential for optimizing complex operations and enhancing productivity. Industries such as manufacturing, oil and gas, and logistics are increasingly adopting building twin technologies to simulate and monitor their facilities in real time.
In 2024, North America accounted for the largest market share in the building twin market due to its strong technological leadership and high adoption across key sectors such as real estate and manufacturing.
Asia Pacific is expected to grow at the highest CAGR during the forecast period due to rapid urbanization, significant investments in smart city initiatives, increasing focus on sustainability, and strong government support for technological adoption and infrastructure development.
The global key market players include ABB Group; Amazon Web Services, Inc.; ANSYS, Inc.; Dassault Systeme; General Electric; Hexagon AB; Microsoft Corporation; PTC Inc.; Robert Bosch GmbH; Rockwell Automation; SAP SE; and Siemens AG.
Polaris Market Research has segmented the building twin market report based on offering, application, end use, and region:
By Offering Outlook (Revenue - USD Million, 2020 - 2034)
- Software Solutions
- Services
By Application Outlook (Revenue - USD Million, 2020 - 2034)
- Design & Construction
- Facility Management
- Predictive Maintenance
- Safety and Security Management
- Other Applications
By End Use Outlook (Revenue - USD Million, 2020 - 2034)
By Regional Outlook (Revenue - USD Million, 2020 - 2034)
- North America
- US
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Netherlands
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Indonesia
- Malaysia
- Australia
- Rest of Asia Pacific
- Latin America
- Argentina
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- UAE
- Saudi Arabia
- Israel
- South Africa
- Rest of Middle East & Africa
Table of Contents
1. Introduction
- 1.1. Report Description
- 1.1.1. Objectives of the Study
- 1.1.2. Market Scope
- 1.1.3. Assumptions
- 1.2. Stakeholders
2. Executive Summary
3. Research Methodology
- 3.1. Overview
- 3.2. Data Sources
- 3.2.1. Primary Sources
- 3.2.2. Secondary Sources
4. Global Building Twin Market Insights
- 4.1. Building Twin Market - Market Snapshot
- 4.2. Building Twin Market Dynamics
- 4.2.1. Drivers and Opportunities
- 4.2.1.1. The Urbanization and Population Growth Has Driven the Market Growth
- 4.2.1.2. The Development of Smart Cities Are Driving the Market Growth
- 4.2.2. Restraints and Challenges
- 4.2.2.1. High Initial Costs and Complexity is Hindering the Growth of the Building Twin Market.
- 4.3. Porter's Five Forces Analysis
- 4.3.1. Bargaining Power of Suppliers (Moderate)
- 4.3.2. Threats of New Entrants: (Low)
- 4.3.3. Bargaining Power of Buyers (Moderate)
- 4.3.4. Threat of Substitute (Moderate)
- 4.3.5. Rivalry among existing firms (High)
- 4.4. PESTEL Analysis
- 4.5. Building Twin Market Application Trends
- 4.6. Value Chain Analysis
- 4.7. COVID-19 Impact Analysis
5. Global Building Twin Market, by Offering
- 5.1. Key Findings
- 5.2. Introduction
- 5.2.1. Global Building Twin Market, by Offering, 2020-2034 (USD Million)
- 5.3. Software Solutions
- 5.3.1. Global Building Twin Market, by Software Solutions, by Region, 2020-2034 (USD Million)
- 5.4. Services
- 5.4.1. Global Building Twin Market, by Services, by Region, 2020-2034 (USD Million)
6. Global Building Twin Market, by Application
- 6.1. Key Findings
- 6.2. Introduction
- 6.2.1. Global Building Twin Market, by Application, 2020-2034 (USD Million)
- 6.3. Design & Construction
- 6.3.1. Global Building Twin Market, by Design & Construction, by Region, 2020-2034 (USD Million)
- 6.4. Facility Management
- 6.4.1. Global Building Twin Market, by Facility Management, by Region, 2020-2034 (USD Million)
- 6.5. Predictive Maintenance
- 6.5.1. Global Building Twin Market, by Predictive Maintenance, by Region, 2020-2034 (USD Million)
- 6.6. Safety and Security Management
- 6.6.1. Global Building Twin Market, by Safety and Security Management, by Region, 2020-2034 (USD Million)
- 6.7. Other Applications
- 6.7.1. Global Building Twin Market, by Other Applications, by Region, 2020-2034 (USD Million)
7. Global Building Twin Market, by End Use
- 7.1. Key Findings
- 7.2. Introduction
- 7.2.1. Global Building Twin Market, by End Use, 2020-2034 (USD Million)
- 7.3. Commercial
- 7.3.1. Global Building Twin Market, by Commercial, by Region, 2020-2034 (USD Million)
- 7.4. Industrial
- 7.4.1. Global Building Twin Market, by Industrial, by Region, 2020-2034 (USD Million)
8. Global Building Twin Market, by Geography
- 8.1. Key Findings
- 8.2. Introduction
- 8.2.1. Building Twin Market Assessment, By Geography, 2020-2034 (USD Million)
- 8.3. Building Twin Market - North America
- 8.3.1. North America: Building Twin Market, by Offering, 2020-2034 (USD Million)
- 8.3.2. North America: Building Twin Market, by Application, 2020-2034 (USD Million)
- 8.3.3. North America: Building Twin Market, by End Use, 2020-2034 (USD Million)
- 8.3.4. Building Twin Market - U.S.
- 8.3.4.1. U.S.: Building Twin Market, by Offering, 2020-2034 (USD Million)
- 8.3.4.2. U.S.: Building Twin Market, by Application, 2020-2034 (USD Million)
- 8.3.4.3. U.S.: Building Twin Market, by End Use, 2020-2034 (USD Million)
- 8.3.5. Building Twin Market - Canada
- 8.3.5.1. Canada: Building Twin Market, by Offering, 2020-2034 (USD Million)
- 8.3.5.2. Canada: Building Twin Market, by Application, 2020-2034 (USD Million)
- 8.3.5.3. Canada: Building Twin Market, by End Use, 2020-2034 (USD Million)
- 8.4. Building Twin Market - Europe
- 8.4.1. Europe: Building Twin Market, by Offering, 2020-2034 (USD Million)
- 8.4.2. Europe: Building Twin Market, by Application, 2020-2034 (USD Million)
- 8.4.3. Europe: Building Twin Market, by End Use, 2020-2034 (USD Million)
- 8.4.4. Building Twin Market - UK
- 8.4.4.1. UK: Building Twin Market, by Offering, 2020-2034 (USD Million)
- 8.4.4.2. UK: Building Twin Market, by Application, 2020-2034 (USD Million)
- 8.4.4.3. UK: Building Twin Market, by End Use, 2020-2034 (USD Million)
- 8.4.5. Building Twin Market - France
- 8.4.5.1. France: Building Twin Market, by Offering, 2020-2034 (USD Million)
- 8.4.5.2. France: Building Twin Market, by Application, 2020-2034 (USD Million)
- 8.4.5.3. France: Building Twin Market, by End Use, 2020-2034 (USD Million)
- 8.4.6. Building Twin Market - Germany
- 8.4.6.1. Germany: Building Twin Market, by Offering, 2020-2034 (USD Million)
- 8.4.6.2. Germany: Building Twin Market, by Application, 2020-2034 (USD Million)
- 8.4.6.3. Germany: Building Twin Market, by End Use, 2020-2034 (USD Million)
- 8.4.7. Building Twin Market - Italy
- 8.4.7.1. Italy: Building Twin Market, by Offering, 2020-2034 (USD Million)
- 8.4.7.2. Italy: Building Twin Market, by Application, 2020-2034 (USD Million)
- 8.4.7.3. Italy: Building Twin Market, by End Use, 2020-2034 (USD Million)
- 8.4.8. Building Twin Market - Spain
- 8.4.8.1. Spain: Building Twin Market, by Offering, 2020-2034 (USD Million)
- 8.4.8.2. Spain: Building Twin Market, by Application, 2020-2034 (USD Million)
- 8.4.8.3. Spain: Building Twin Market, by End Use, 2020-2034 (USD Million)
- 8.4.9. Building Twin Market - Netherlands
- 8.4.9.1. Netherlands: Building Twin Market, by Offering, 2020-2034 (USD Million)
- 8.4.9.2. Netherlands: Building Twin Market, by Application, 2020-2034 (USD Million)
- 8.4.9.3. Netherlands: Building Twin Market, by End Use, 2020-2034 (USD Million)
- 8.4.10. Building Twin Market - Russia
- 8.4.10.1. Russia: Building Twin Market, by Offering, 2020-2034 (USD Million)
- 8.4.10.2. Russia: Building Twin Market, by Application, 2020-2034 (USD Million)
- 8.4.10.3. Russia: Building Twin Market, by End Use, 2020-2034 (USD Million)
- 8.4.11. Building Twin Market - Rest of Europe
- 8.4.11.1. Rest of Europe: Building Twin Market, by Offering, 2020-2034 (USD Million)
- 8.4.11.2. Rest of Europe: Building Twin Market, by Application, 2020-2034 (USD Million)
- 8.4.11.3. Rest of Europe: Building Twin Market, by End Use, 2020-2034 (USD Million)
- 8.5. Building Twin Market - Asia Pacific
- 8.5.1. Asia Pacific: Building Twin Market, by Offering, 2020-2034 (USD Million)
- 8.5.2. Asia Pacific: Building Twin Market, by Application, 2020-2034 (USD Million)
- 8.5.3. Asia Pacific: Building Twin Market, by End Use, 2020-2034 (USD Million)
- 8.5.4. Building Twin Market - China
- 8.5.4.1. China: Building Twin Market, by Offering, 2020-2034 (USD Million)
- 8.5.4.2. China: Building Twin Market, by Application, 2020-2034 (USD Million)
- 8.5.4.3. China: Building Twin Market, by End Use, 2020-2034 (USD Million)
- 8.5.5. Building Twin Market - India
- 8.5.5.1. India: Building Twin Market, by Offering, 2020-2034 (USD Million)
- 8.5.5.2. India: Building Twin Market, by Application, 2020-2034 (USD Million)
- 8.5.5.3. India: Building Twin Market, by End Use, 2020-2034 (USD Million)
- 8.5.6. Building Twin Market - Malaysia
- 8.5.6.1. Malaysia: Building Twin Market, by Offering, 2020-2034 (USD Million)
- 8.5.6.2. Malaysia: Building Twin Market, by Application, 2020-2034 (USD Million)
- 8.5.6.3. Malaysia: Building Twin Market, by End Use, 2020-2034 (USD Million)
- 8.5.7. Building Twin Market - Japan
- 8.5.7.1. Japan: Building Twin Market, by Offering, 2020-2034 (USD Million)
- 8.5.7.2. Japan: Building Twin Market, by Application, 2020-2034 (USD Million)
- 8.5.7.3. Japan: Building Twin Market, by End Use, 2020-2034 (USD Million)
- 8.5.8. Building Twin Market - Indonesia
- 8.5.8.1. Indonesia: Building Twin Market, by Offering, 2020-2034 (USD Million)
- 8.5.8.2. Indonesia: Building Twin Market, by Application, 2020-2034 (USD Million)
- 8.5.8.3. Indonesia: Building Twin Market, by End Use, 2020-2034 (USD Million)
- 8.5.9. Building Twin Market - South Korea
- 8.5.9.1. South Korea: Building Twin Market, by Offering, 2020-2034 (USD Million)
- 8.5.9.2. South Korea: Building Twin Market, by Application, 2020-2034 (USD Million)
- 8.5.9.3. South Korea: Building Twin Market, by End Use, 2020-2034 (USD Million)
- 8.5.10. Building Twin Market - Australia
- 8.5.10.1. Australia: Building Twin Market, by Offering, 2020-2034 (USD Million)
- 8.5.10.2. Australia: Building Twin Market, by Application, 2020-2034 (USD Million)
- 8.5.10.3. Australia: Building Twin Market, by End Use, 2020-2034 (USD Million)
- 8.5.11. Building Twin Market - Rest of Asia Pacific
- 8.5.11.1. Rest of Asia Pacific: Building Twin Market, by Offering, 2020-2034 (USD Million)
- 8.5.11.2. Rest of Asia Pacific: Building Twin Market, by Application, 2020-2034 (USD Million)
- 8.5.11.3. Rest of Asia Pacific: Building Twin Market, by End Use, 2020-2034 (USD Million)
- 8.6. Building Twin Market - Middle East & Africa
- 8.6.1. Middle East & Africa: Building Twin Market, by Offering, 2020-2034 (USD Million)
- 8.6.2. Middle East & Africa: Building Twin Market, by Application, 2020-2034 (USD Million)
- 8.6.3. Middle East & Africa: Building Twin Market, by End Use, 2020-2034 (USD Million)
- 8.6.4. Building Twin Market - Saudi Arabia
- 8.6.4.1. Saudi Arabia: Building Twin Market, by Offering, 2020-2034 (USD Million)
- 8.6.4.2. Saudi Arabia: Building Twin Market, by Application, 2020-2034 (USD Million)
- 8.6.4.3. Saudi Arabia: Building Twin Market, by End Use, 2020-2034 (USD Million)
- 8.6.5. Building Twin Market - UAE
- 8.6.5.1. UAE: Building Twin Market, by Offering, 2020-2034 (USD Million)
- 8.6.5.2. UAE: Building Twin Market, by Application, 2020-2034 (USD Million)
- 8.6.5.3. UAE: Building Twin Market, by End Use, 2020-2034 (USD Million)
- 8.6.6. Building Twin Market - Israel
- 8.6.6.1. Israel: Building Twin Market, by Offering, 2020-2034 (USD Million)
- 8.6.6.2. Israel: Building Twin Market, by Application, 2020-2034 (USD Million)
- 8.6.6.3. Israel: Building Twin Market, by End Use, 2020-2034 (USD Million)
- 8.6.7. Building Twin Market - South Africa
- 8.6.7.1. South Africa: Building Twin Market, by Offering, 2020-2034 (USD Million)
- 8.6.7.2. South Africa: Building Twin Market, by Application, 2020-2034 (USD Million)
- 8.6.7.3. South Africa: Building Twin Market, by End Use, 2020-2034 (USD Million)
- 8.6.8. Building Twin Market - Rest of Middle East & Africa
- 8.6.8.1. Rest of Middle East & Africa: Building Twin Market, by Offering, 2020-2034 (USD Million)
- 8.6.8.2. Rest of Middle East & Africa: Building Twin Market, by Application, 2020-2034 (USD Million)
- 8.6.8.3. Rest of Middle East & Africa: Building Twin Market, by End Use, 2020-2034 (USD Million)
- 8.7. Building Twin Market - Latin America
- 8.7.1. Latin America: Building Twin Market, by Offering, 2020-2034 (USD Million)
- 8.7.2. Latin America: Building Twin Market, by Application, 2020-2034 (USD Million)
- 8.7.3. Latin America: Building Twin Market, by End Use, 2020-2034 (USD Million)
- 8.7.4. Building Twin Market - Mexico
- 8.7.4.1. Mexico: Building Twin Market, by Offering, 2020-2034 (USD Million)
- 8.7.4.2. Mexico: Building Twin Market, by Application, 2020-2034 (USD Million)
- 8.7.4.3. Mexico: Building Twin Market, by End Use, 2020-2034 (USD Million)
- 8.7.5. Building Twin Market - Brazil
- 8.7.5.1. Brazil: Building Twin Market, by Offering, 2020-2034 (USD Million)
- 8.7.5.2. Brazil: Building Twin Market, by Application, 2020-2034 (USD Million)
- 8.7.5.3. Brazil: Building Twin Market, by End Use, 2020-2034 (USD Million)
- 8.7.6. Building Twin Market - Argentina
- 8.7.6.1. Argentina: Building Twin Market, by Offering, 2020-2034 (USD Million)
- 8.7.6.2. Argentina: Building Twin Market, by Application, 2020-2034 (USD Million)
- 8.7.6.3. Argentina: Building Twin Market, by End Use, 2020-2034 (USD Million)
- 8.7.7. Building Twin Market - Rest of Latin America
- 8.7.7.1. Rest of Latin America: Building Twin Market, by Offering, 2020-2034 (USD Million)
- 8.7.7.2. Rest of Latin America: Building Twin Market, by Application, 2020-2034 (USD Million)
- 8.7.7.3. Rest of Latin America: Building Twin Market, by End Use, 2020-2034 (USD Million)
9. Competitive Landscape
- 9.1. Expansion and Acquisition Analysis
- 9.1.1. Expansion
- 9.1.2. Acquisitions
- 9.2. Partnerships/Collaborations/Agreements/Exhibitions
10. Company Profiles
- 10.1. ABB Group
- 10.1.1. Company Overview
- 10.1.2. Financial Performance
- 10.1.3. Product Benchmarking
- 10.1.4. Recent Development
- 10.2. ABB Group
- 10.2.1. Company Overview
- 10.2.2. Financial Performance
- 10.2.3. Product Benchmarking
- 10.2.4. Recent Development
- 10.3. ANSYS, Inc.
- 10.3.1. Company Overview
- 10.3.2. Financial Performance
- 10.3.3. Product Benchmarking
- 10.3.4. Recent Development
- 10.4. Dassault Systeme
- 10.4.1. Company Overview
- 10.4.2. Financial Performance
- 10.4.3. Product Benchmarking
- 10.4.4. Recent Development
- 10.5. General Electric
- 10.5.1. Company Overview
- 10.5.2. Financial Performance
- 10.5.3. Product Benchmarking
- 10.5.4. Recent Development
- 10.6. Hexagon AB
- 10.6.1. Company Overview
- 10.6.2. Financial Performance
- 10.6.3. Product Benchmarking
- 10.6.4. Recent Development
- 10.7. Microsoft Corporation
- 10.7.1. Company Overview
- 10.7.2. Financial Performance
- 10.7.3. Product Benchmarking
- 10.7.4. Recent Development
- 10.8. PTC Inc.
- 10.8.1. Company Overview
- 10.8.2. Financial Performance
- 10.8.3. Product Benchmarking
- 10.8.4. Recent Development
- 10.9. Robert Bosch GmbH
- 10.9.1. Company Overview
- 10.9.2. Financial Performance
- 10.9.3. Product Benchmarking
- 10.9.4. Recent Development
- 10.10. Rockwell Automation
- 10.10.1. Company Overview
- 10.10.2. Financial Performance
- 10.10.3. Product Benchmarking
- 10.10.4. Recent Development
- 10.11. SAP SE
- 10.11.1. Company Overview
- 10.11.2. Financial Performance
- 10.11.3. Product Benchmarking
- 10.11.4. Recent Development
- 10.12. Siemens AG
- 10.12.1. Company Overview
- 10.12.2. Financial Performance
- 10.12.3. Product Benchmarking
- 10.12.4. Recent Development