Market Snapshot:
Smart office refers to the interconnected workplace with the audio-video conferencing system, air-conditioning & refrigeration, and other facilities. Of late, automation is taking place throughout the industries owing to the growing need for effective time management as maximizing the profit becomes the topmost priority amid high competition. For enterprises, data security is a cause of concern as the threat of data-breach looms large. The recent, advent of AI and Machine learning provide bright perspective for the very market to flourish.
Attributes | Details |
---|
Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | ABB Ltd. (Switzerland), Cisco Systems, Inc. (United States), Crestron Electronics, Inc. (United States), Honeywell International, Inc. (United States), Johnson Controls (United States), Lutron Electronics Co., Inc. (United States), Philips Lighting Holding B.V. (Netherlands), Schneider Electric (France), Siemens AG (Germany), United Technologies Corporation (United States) and Enlighted, Inc. (United States) |
CAGR | 13.07% |
Segment Analysis
AMA Research have segmented the market of Global Smart Office market by Type, Application and Region. On the basis of Type, Service Segment are dominating the market in the year 2022
On the basis of geography, the market of Smart Office has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2022.
Market Trend
Increasing Adoption of Connected Devices at workplaces and Rising Application of Wireless Sensor Network
Market Drivers
Growing Adoption of IoT in Smart Office Solutions, Emphasizing on Energy Management Systems (EMSs) and Growing Demand for Audio Video Conferencing System
Opportunities
Growing Demand of Energy Efficient Smart Office Solutions and Rising Need for Safety and Security System at Workstations
Restraints
- Complexity in Installation of Smart Office Solutions
In addition to the aforementioned factor, Growing Adoption of IoT in Smart Office Solutions
is expected to propel the growth of the market over the forecast period.
Competitive Landscape
The smart office market is fragmented to owing to the number of players present in the market. Owing to the growing popularity of smart office solution among corporates manufacturers are focusing more on developing reliable, cost-efficient and technologically advanced products for enhanced customer experience generating lucrative opportunities for the companies.
The key Players profiled in the study are ABB Ltd. (Switzerland), Cisco Systems, Inc. (United States), Crestron Electronics, Inc. (United States), Honeywell International, Inc. (United States), Johnson Controls (United States), Lutron Electronics Co., Inc. (United States), Philips Lighting Holding B.V. (Netherlands), Schneider Electric (France), Siemens AG (Germany), United Technologies Corporation (United States) and Enlighted, Inc. (United States). A lot of United States players are profiled in the research study indicating a strong market dependence.