11.26% CAGR of growth in the Smart Office Market to reach a market value of USD 61.4 billion by 2023| Dominant Players - KONINKLIJKE PHILIPS NV, ABB LTD, SCHNEIDER ELECTRIC SE, SIEMENS AG, CISCO SYSTEMS INC., amongst others

Market Analysis:

North America is expected to Dominate the Market
The North American smart office market is expected to witness an enormous growth rate, owing to the demand for smart lighting and security & access control systems. Technological penetration and the increasing security concerns among various organizations are propelling the growth of the North American smart office market.

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Smart office is an integration of multiple technologies, which enables a centralized control and monitoring, helping in an efficient resource management. With the changing workplace environments, there is a need for scalable office infrastructure. Smart office system deploys sensors, automated systems, and advanced communication networks, to enable a centralized control and the wireless data transfer for monitoring and data analysis. Automated lighting systems and advanced HVAC systems help offices in a better energy management.. The growth in business and emerging business opportunities in the developing economies are driving the establishment of new infrastructure, with many consumers opting smart office systems for the future. Smart HVAC control systems are dominating the market landscape.

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Market Segments:
Smart Office Market is segmented by:
1. Product : Smart Office Lighting, Security & Access Controls System, Energy Management System, Smart HVAC Control System, Audio-Video Conferencing System, Fire & Safety Control System, Others
2. Building Type: Retrofits, New Buildings
3. Geography: North America, South America, Europe, Asia Pacific, Middle East & Africa

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