Global Smart Office Market, By Technology (Wireless Technology, Wired Technology), Product (Smart Lighting, Security System, Energy Management System, Heating, Ventilation, and Air Conditioning (HVAC) Control System and Audio–Video Conferencing Systems), Software and Services (Software and Services), Office Type (Retrofit Offices and New Construction Offices), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
The smart office market is expected to witness market growth at a rate of 13.25% in the forecast period of 2021 to 2028. Data Bridge Market Research report on smart office market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market's growth. The rise in the demand for intelligent office solutions is escalating the growth of smart office market.
The smart office is known to be a technology that is utilized in creating the tasks of the organization simpler and flexible with the help of network-based devices. It includes of several technologies like automated systems, sensors and developed communication structure that are needed to offer effective support for planning and performing work.
Major factors that expected to boost the growth of the smart office market in the forecast period are the forecast period are the rise in the need for sensor networks for energy effectiveness and the development of IoT in smart office offerings. Furthermore, the increase in the demand for safety and security systems at workplace is further anticipated to propel the growth of the smart office market. Moreover, the suitable government regulations in various countries is further estimated to cushion the growth of the smart office market. On the other hand, the struggle to upgrade or replace the existing system is projected to impede the growth of the smart office market in the timeline period.
In addition, the advancing cloud-based environment of IoT platforms will further provide potential opportunities for the growth of the smart office market in the coming years. However, the addition of real-time streaming analytics capabilities into smart solution might further challenge the growth of the smart office market in the near future.
This smart office market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the smart office market, contact Data Bridge Market Research for an Analyst Brief. Our team will help you take an informed market decision to achieve market growth.
Global Smart Office Market Scope and Market Size
The smart office market is segmented on the basis of technology, product, software and services and office type. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of technology, the smart office market has been segmented into wireless technology and wired technology. Wireless technology is further sub segmented into Wi-Fi, enocean, zigbee, bluetooth or Ble and others. Wired technology is further sub segmented into digital addressable lighting interface (DALI), power line communication (PLC), power over ethernet (POE), KNX, lonworks and building automation and control network (BACNet).
- On the basis of product, the smart office market has been segmented into smart lighting, security system, energy management system, heating, ventilation, and air conditioning (HVAC) control system and audio–video conferencing systems. Smart lighting is further sub segmented into smart lighting and fixtures. Smart bulbs is further sub segmented into controls. Controls is further sub segmented into led drivers and ballasts, sensors, switches, relay units and gateways. Security system is further sub segmented into access controls. Access controls is further sub segmented into electronic locks, card-based systems or card-based readers and biometric systems or biometric readers. Energy management system is further sub segmented into in-house displays, smart thermostats, load control switches and smart plugs. Heating, ventilation, and air conditioning (HVAC) control system is further sub segmented into sensors. Sensors is further sub segmented into other sensors, flow sensors, pressure sensors, occupancy sensors, humidity sensors and temperature sensors. Audio–video conferencing systems is further sub segmented into Audio, Volume, and Multi-Media Room Controls, video conferencing systems and touch screens and keypads.
- On the basis of software and services, the smart office market has been segmented into software and services. Services is further sub segmented into advisory and consulting services, installation and support services and managed services.
- On the basis of office type, the smart office market has been segmented into retrofit offices and new construction offices.
Smart Office Market Country Level Analysis
The smart office market is analyzed, and market size, volume information is provided by country, technology, product, software and services and office type as referenced above.
The countries covered in the smart office market report are the U.S., Canada, and Mexico in North America, Brazil, Argentina, and the rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, rest of the Middle East and Africa (MEA) as a part of the Middle East and Africa (MEA).
North America dominates the smart office market due to the technological development in the IoT field, particularly for offices. Furthermore, the increase in the demand for security and safety system will further boost the growth of the smart office market in the region during the forecast period. Asia-Pacific is projected to observe significant amount of growth in the smart office market due to the rise in the acceptance of energy management solutions to reduce the associated costs. Moreover, the several security and lightning management solutions in the workplace is further anticipated to propel the growth of the smart office market in the region in the coming years.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impact the current and future trends of the market. Data points like downstream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Smart Office Market Share Analysis
The smart office market competitive landscape provides details by a competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, regional presence, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to the smart office market.
The major players covered in the smart office market report are Siemens, Schneider Electric, Johnson Controls., Honeywell International Inc, ABB, Cisco India Ltd., United Technologies Corporation; Lutron Electronics Co., Inc, Crestron Electronics, Inc., Signify Holding., SensorSuite Inc., Enlighted, Inc, Komstadt Systems Limited, Tata Teleservices Ltd., Coor Service Management, Senion AB, König + Neurath AG, Smart Technologies, Avada among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.