Smart Office Market And Top Key Players are Schneider Electric, Siemens AG, Honeywell International

The world is moving at a rapid pace towards automation of labor. Artificial Intelligence and Internet of Things are finding their way into our everyday life. From gizmos that predict optimal map routes to driver less cars, IOT and Artificial Intelligence have lots to offer. They have found their way into our personalized offices as well wherein they help reduce the wastage of resources. An office of that sort is typically referred to as a smart office.
A smart office encourages workplace efficiency.

The functions it offers vary from simple notifications on the phone regarding the shortage of inventory to the ability to control the gadgets in office. With the individual gadgets already in place, the end piece of the jigsaw is the technology that connects the gadgets together. Smart office typically aims at providing just that.

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The end users of this technology are currently the big commercial offices who have lots to gain when it comes to maintenance and saving of resources.

Apart from cost cutting, the use of this technology helps in fostering an environmentally friendly image of the organization in the minds of the public.

With the technology set to establish itself in the years to come, the implementation prices are bound to decline. It will only be a short while before it penetrates the common board rooms of small-time businesses.

Market Dynamics

This technology is still in its infancy. Yet to be truly established, this technology as of now is more spoken of in the developed countries compared to the lesser developed counterparts. The market is estimated to grow at a phenomenal rate. It is expected that by 2020, there would be 20 to 30 IOT based devices in the market . This consequently would lead to homes and offices getting smarter. McKinsey Global Institute research estimates that the Internet of Things could trigger a global economy value as high as $6.2 trillion by 2025.

The market has seen the introduction of various innovative market shaking products in the recent times. With huge manufacturers preferring to experiment, the industry is here to stay. There have been major collaborations between industries in this sector. The investment is huge and the potential of the market is expected to be worth billions.

Market Segmentation

The market is segmented on the basis of the application of the technology, geography and the network requirements. Security cameras that can stream videos directly to mobile phones, light dimmers that keeps a lid on the brightness of the light bulbs and automated water gauges are some of the popular smart office applications today.

With companies like Philips offering hue light bulbs which can be controlled by a secondary device and Google venturing into nest thermostats that can crowdsource the temperature requirements of the office space, the possibilities are endless.

Further, the network requirements of these gadgets are another parameter which differentiates them from each other. Some gadgets provide online services alone while some others require the controlling device and the products to be within a given distance range.

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Regional / Geographical Analysis
It is found that almost all the impetus on this technology is right now focused primarily in the developed countries. America houses some of the major companies that are implementing the technology like Cisco and Google. Germany is not far behind with Siemens and Schneider Electric coming up with various methods to cosy up your office to your needs.

Key Players

The Key Players in this market include Schneider Electric, Siemens AG, Honeywell International, Cisco Systems Inc., Creston Electricals.

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This release was published on openPR.