Smart Workplace Market Global Players with Revenue Analysis of Carrier Corporations, Daikin Industries, Ltd, Siemens AG., Johnson Controls Inc., LG Electronics, Crestron Electronics, Honeywell International, OSRAM Licht AG, 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. The major benefits of smart workplace is that it helps in minimizing the wastage of business resources such as paper, raw material, lighting cost, others. 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.

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.

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Lack of awareness among SMEs is one of the major factors hampering growth of the market. Another factor is lack of skilled workforce and lack of financial support in SMEs, which is a factor negatively impacting growth of the smart workplace market.

North America accounted for the largest market share in 2017 and is expected to remain the largest market throughout the forecast period. 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. 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.

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This release was published on openPR.