The global smart office market to increase from USD 18.8 billion in 2016 to USD 46.1 billion by 2023, expanding at a compound annual growth rate (CAGR) of around 13% during the forecast period.
Smart Office is a new age phenomenon that combines technology into a physical office space where the organization's tasks are made simpler and versatile with the utilization of network-based devices. Smart office solution gives the organization with several gains including schedule management, cloud storage, analytics, high returns on investments, cooperative communication, accurate time management, automation, higher customer satisfaction, risk management, resource utilization, identity management, and supply connected, integrated systems.
The development of the global smart office market is driven by augmenting demand for efficient commercial management solutions and sensor networks for energy efficiency, the advancement of IoT in smart office offerings, growing need for safety and security systems at the workplace, and favourable government regulations in various countries. The target of the report is to define, describe, and forecast the global smart office market size.
Market size available for years
Base year considered
Product, Building Type, Component, and Region
Various analyses covered
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities
Asia Pacific, North America, Europe, Middle East & Africa, and Latin America.
Siemens AG (Germany), Schneider Electric SA (France), Johnson Controls International PLC (US), Honeywell International Inc. (US), ABB Ltd. (Switzerland), Cisco Systems, Inc. (US), United Technologies Corporation (US), Lutron Electronics Co. Inc. (US), Crestron Electronics, Inc. (US), Philips Lighting Holding B.V (Netherlands) among others.
Drivers and Restraints of Smart Office Market:
Increasing demand for better commercial infrastructure to motivate employees for work is the primary factor driving the expansion of the global smart office market during the forthcoming years. The increase in inclination to adopt energy-saving solution at offices is the other factor spurring the development of the smart office market. Also, increasing internet penetration across the globe is influencing the installation of higher and advanced infrastructure, that provides more luxury at commercial places is additionally contributing to scale the demand for the global smart office market.
Increase in need for smart lighting in the commercial sector to save lots of energy cost is predicted to support the growth of the Smart Office Market during the outlook period. The ever-growing popularity of Smart Office technology is a motivational hike for manufacturers looking to take a position in research and development(R&D) activities for arising with dependable, cost-effective, and improved products. The increasing acceptance of Internet of Things (IoT) is claimed to reinforce the expansion of the market as IoT enables inter-networking of physical devices.
Smart office lighting is one of the most prominent segments in the global smart office market that is anticipated to witness a considerable growth rate in the next few years.
By Building Type
Most of the new commercial buildings in the developed economies like the US, Germany, UK, and others are adopting smart technologies to conserve energy, supporting the growth of the smart offices business.
Smart Office Market Region wise analysis:
Marked Segmentation based on the region:
a. Middle East
North America smart office market is dominating the global business, thanks to the supply of higher technology infrastructure, especially in the USA. The smart office market in this region is also projected to exhibit the promising rate of growth within the upcoming years. Europe smart office market is the main consumption area for this technology compared to other areas in the world. Asia-Pacific smart office market is likely to be the fastest-growing due to rapid adoption of modern technologies to improve energy consumption. China is that the most potential market since it comes with the rapid growth rate of around 24%.
Key Players of Market:
The key players in the global smart office market are Siemens AG (Germany), Schneider Electric SA (France), Johnson Controls International PLC (US), Honeywell International Inc. (US), ABB Ltd. (Switzerland), Cisco Systems, Inc. (US), United Technologies Corporation (US), Lutron Electronics Co. Inc. (US), Crestron Electronics, Inc. (US), Philips Lighting Holding B.V (Netherlands) among others.
1.1 Market Definition
1.2 Scope of the report
1.3 Study Assumptions
1.4 Base Currency, Base Year and Forecast Periods
2. Research Methodology
2.1 Analysis Design
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Data Modelling
2.2.4 Expert Validation
2.3 Study Timeline
3. Report Overview
3.1 Executive Summary
3.2 Key Inferencees
4. Market Dynamics
4.1 Impact Analysis
4.2 Regulatory Environment
4.3 Technology Timeline & Recent Trends
5. Competitor Benchmarking Analysis
5.1 Key Player Benchmarking
5.1.1 Market share analysis
5.1.3 Regional Presence
5.2 Mergers & Acquistion Landscape
5.3 Joint Ventures & Collaborations
6. Market Segmentation
6.1 Smart Office Market, By Product
6.1.1 Smart Office Lighting
6.1.2 Security and Access Control System
6.1.3 Energy Management System
6.1.4 Smart HVAC Control System
6.1.5 Audio-Video Conferencing System
6.1.6 Fire and Safety Control System
6.1.7 Market Size Estimations & Forecasts (2019-2024)
6.1.8 Y-o-Y Growth Rate Analysis
6.1.9 Market Attractiveness Index
6.2 Smart Office Market, By Building Type
6.2.2 New Buildings
6.2.3 Market Size Estimations & Forecasts (2019-2024)
6.2.4 Y-o-Y Growth Rate Analysis
6.2.5 Market Attractiveness Index
6.3 Smart Office Market, By Component
6.3.3 Market Size Estimations & Forecasts (2019-2024)
6.3.4 Y-o-Y Growth Rate Analysis
6.3.5 Market Attractiveness Index
7. Geographical Landscape
7.1 Global Identity Governance and Administration Market, by Region
7.2 North America - Market Analysis (2018 - 2024)
7.2.1 By Country
7.2.2 By Product
7.2.3 By Building Type
7.2.4 By Component
7.3.1 By Country
188.8.131.52 Rest of Europe
7.3.2 By Product
7.3.3 By Building Type
7.3.4 By Component
7.4 Asia Pacific
7.4.1 By Country
184.108.40.206 South Korea
220.127.116.11 South East Asia
18.104.22.168 Australia & NZ
22.214.171.124 Rest of Asia-Pacific
7.4.2 By Product
7.4.3 By Building Type
7.4.4 By Component
7.5 Latin America
7.5.1 By Country
126.96.36.199 Rest of Latin America
7.5.2 By Product
7.5.3 By Building Type
7.5.4 By Component
7.6 Middle East and Africa
7.6.1 By Country
188.8.131.52 Middle East
7.6.2 By Product
7.6.3 By Building Type
7.6.4 By Component
8. Key Player Analysis
8.1 Siemens AG
8.1.1 Business Description
8.1.4 SWOT Analysis
8.1.5 Recent Developments
8.1.6 Analyst Overview
8.2 Schneider Electric SA
8.3 Johnson Controls International PLC
8.4 Honeywell International Inc.
8.5 ABB Ltd.
8.6 Cisco Systems, Inc.
8.7 United Technologies Corporation
8.8 Lutron Electronics Co. Inc
8.9 Crestron Electronics, Inc.
8.10 Philips Lighting Holding B.V
9. Market Outlook & Investment Opportunities
List of Tables
List of Figures
Talk to our analyst and get customised report done according to your research needs
Check if you can avail any discount. Submit your details and our team will get back to you.
Request to avail a free sample report that reflects this market and its growth.