Smart Workplace Market Cost Structure Analysis of Siemens AG, Johnson Controls Inc., Cisco, Systems, Inc., Honeywell International, Inc., ABB Ltd., Schneider Electric SA, ZTE, Coor(Smart), Carrier Corporations, Philips Lumileds Holdings B.V.

Smart workplace is a workspace in which employees are able to perform their tasks or work more efficiently by using smart devices. Adoption of various technologies such as iOffice work place software, assets management software, and cloud technology, AI among others solutions help in creating predictive maintenance models and identify trends in data, which help employees to analyse faster, in order to improve decision making in real time. Thus, increasing adoption of advanced technology and change in work culture of enterprises are key factors driving growth of the smart workplace market.

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Increasing adoption of cloud computing, artificial intelligence (AI), IoT, and automation are helping organizations to increase their productivity and enterprises mobility, which is expected to support growth of the smart workplace market worldwide. For instance, in July 2016, the Johnson & Johnson Group announced that the company had transfer more than 500 terabytes of data to the Amazon Web Services (AWS), which proportionally helped the company in saving resources of the company such infrastructure cost and administrative cost of the organisation.

Hence, adoption of these smart solutions help in transforming workplaces by integrating smart devices and solutions in the workplace, which in turn helps in increasing the productivity of the employee by enhancing transparency in communication, and helps in better decision making, consequently helping the organisation to respond to customer effectively. Hence, these factors are expected to propel growth of the smart workplace market.

The U.S. and Canada are some of the major economies driving growth of the market in this region. The region is early adopter of advanced technologies such as cloud-based technology, IoT, and AI and this is major factor driving growth of the market in this region.

Key players operating in the smart workplace market are Carrier Corporations, Daikin Industries, Ltd, Siemens AG., Johnson Controls Inc., LG Electronics, Inc., Crestron Electronics, Inc., General Electric, Inc., Honeywell International, OSRAM Licht AG, Philips Lumileds Holdings B.V., and Schneider Electric SE. Major players in the market such as Johnson Controls, Carrier Corporation, and LG Electronics are adopting mergers and acquisitions strategy, in order gain competitive edge in the market.

For instance, in September 2015, Johnson Controls completed acquisition of CBRE Group, Inc. The objective of this acquisition strategy is to expand the workplace solutions across various verticals such as in financial services, healthcare, industrial/manufacturing, life sciences, technology, and telecommunications. Therefore, this acquisition helped the organisation to strengthen their foothold in the market.

Smart Workplace Market: Taxonomy

By Component
• Software
• Services

By Communication Technology
• Wired Technology
• Wireless Technology

By Product Type
• Smart Lightings
• Security System
• Heating, Ventilation, and Air Conditioning (HVAC) Control System
• Others

By Buildings
• New Buildings
• Retrofitting

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