Press release
Smart Office Market Set to Achieve USD 46.99 Billion by 2023 | Key Market Players are Siemens AG (Germany), Schneider Electric SA (France), Johnson Controls International PLC (US), Honeywell International Inc. (US), ABB Ltd. (Switzerland) and Cisco System
Smart Office Market
Market Highlights
According to Market Research Future (MRFR), The global smart office market is expected to expand from USD 23.60 billion in 2017 to USD 46.99 billion by 2023, at a CAGR of 12.16% from 2018 to 2023 (forecast period). The report offers a systematic and thorough analysis of the effect of the COVID-19 pandemic on the global smart office market.
The smart office ensures the efficient and effective use of IT resources and physical infrastructure. It uses state-of-the-art, Internet-enabled technology to collect data and centrally manage its operating systems and services. Smart offices thus create a better employee-centric workplace and enhance the user experience, thereby increasing efficiency and improving the value of corporate brands. Manufacturers are investing in R&D activities to produce cost-effective and reliable products due to the growing popularity of smart office technology. For example, companies like Amazon and Blackberry are expected to introduce a company-grade Alexa device for commercial applications.
Market Dynamics
The need for integrated security and safety systems in enterprises leads to the smart office industry's growth. In addition, as a result of government initiatives on green buildings and strict environmental conservation policies, companies have deployed smart offices to track and regulate total energy use. This factor encourages offices to deploy smart energy management systems, automated lighting systems, and smart HVAC systems to reduce overall energy usage. However, the difficulty of replacing and updating existing systems is likely to impede the growth of the smart office industry. Increased adoption of IoT and cloud-based platforms is expected to generate potential growth opportunities for this market during the forecast period. Companies including Siemens AG, Schneider Electric SA, Johnson Controls International PLC, Honeywell International Inc., ABB Ltd., Cisco Systems, Inc. B.V. Philips Lighting Holding, among others, continue to concentrate on expanding their product ranges and pursue inorganic strategies, like mergers and acquisitions, to extend their global reach and widen their customer base.
Get a Free Sample @ https://www.marketresearchfuture.com/sample_request/6575
Segmentation:
The global market for smart office market has been segmented based on component and office type.
By the component, the smart office market has been segmented into hardware, software, and service. The hardware segment is further divided into smart lighting, security systems, energy management system, smart HVAC system, and audio-video conferencing systems. The smart lighting segment is further divided into smart bulbs, fixtures, and lighting controls. The lighting controls segment is further divided into led drivers and ballasts, switches, relay units, and gateways. The security systems segment is further segregated into access controls, surveillance cameras/video surveillance, and fire & safety controls. The access control segment is further divided into biometric systems/biometric readers, card-based systems/card-based readers, and electronic locks. The energy management systems segment includes in-house displays, smart thermostats, load control switches, and smart plugs. The smart HVAC control system is further divided into sensors, control valves, heating & cooling coils, dampers, pumps & fans, smart vents, actuators, VAV & FCU controllers. The sensors segment is further divided into temperature sensors, humidity sensors, occupancy sensors, pressure sensors, flow sensors, and others. Audio-video conferencing systems segment is divided into audio, volume, multi-media room controls, video conferencing systems, and touch screens & keypads. The services segment is further segregated into advisory & consulting services, installation & support services, and managed services.
Based on office type, the smart office market is bifurcated into retrofit offices and new construction offices.
Regional Analysis
By region, the smart office market has been segmented into North America, Europe, Asia Pacific, and the rest of the world.
North America dominates the smart office market due to growing security issues among organizations and the availability of better technological infrastructure in the region. The Asia Pacific is projected to be the fastest-growing region due to the rapid implementation of new technologies to improve energy consumption.
Key Players
Notable players in the global smart office market are Siemens AG (Germany), Schneider Electric SA (France), Honeywell International Inc. (US), Johnson Controls International PLC (US), ABB Ltd. (Switzerland), Cisco Systems, Inc. (US), Crestron Electronics, Inc. (US), United Technologies Corporation (US), Lutron Electronics Co. Inc. (US), Philips Lighting Holding B.V (Netherlands) among others.
Browse Complete Report @ https://www.marketresearchfuture.com/reports/smart-office-market-6575
Smart Office Market Research Report by Component (Hardware, Software, and Service), Office Type (Retrofit and New Construction), Region (North America, Europe, Asia-Pacific, and Rest of the World)-Global Forecast till 2023
Office No. 528, Amanora Chambers
Contact:
Market Research Future
+1 646 845 9312
Email: sales@marketresearchfuture.com
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Smart Office Market Set to Achieve USD 46.99 Billion by 2023 | Key Market Players are Siemens AG (Germany), Schneider Electric SA (France), Johnson Controls International PLC (US), Honeywell International Inc. (US), ABB Ltd. (Switzerland) and Cisco System here
News-ID: 2207663 • Views: …
More Releases from Market Research Future
Glue Machine Market to Reach USD 14.9 Billion by 2035, Growing at 4.56% CAGR
The Glue Machine Market is witnessing significant growth due to the increasing adoption of adhesive technologies across various industries, including packaging, woodworking, automotive, furniture, and construction. Valued at USD 9.15 billion in 2024, the market is projected to reach USD 14.9 billion by 2035, registering a CAGR of 4.56% between 2025 and 2035.
Glue machines, also known as adhesive application machines, are critical for efficiently dispensing adhesives in industrial and commercial…
Expansion Valves Market to Reach USD 5.39 Billion by 2035, Growing at 4.62% CAGR
The expansion valves market is witnessing steady growth due to increasing demand for efficient heating, ventilation, air conditioning, and refrigeration (HVACR) systems across residential, commercial, and industrial sectors. Valued at USD 3.28 billion in 2024, the market is projected to reach USD 5.39 billion by 2035, growing at a CAGR of 4.62% between 2025 and 2035.
Expansion valves, also known as thermostatic expansion valves (TXVs) or electronic expansion valves (EEVs), are…
Cheese Packaging Market to Reach USD 101.31 Billion by 2034, Growing at 3.50% CA …
The Cheese Packaging Market is poised for steady growth over the next decade due to rising demand for dairy products, evolving consumer preferences, and increasing focus on food safety and sustainability. According to recent estimates, the market was valued at USD 71.87 billion in 2024 and is projected to reach USD 101.31 billion by 2034, growing at a compound annual growth rate (CAGR) of 3.50% between 2025 and 2034.
Cheese packaging…
Maritime Market to Reach USD 2,920 Billion by 2035, Growing at 2.69% CAGR
The Maritime Market is a cornerstone of international trade, logistics, and economic connectivity, serving as the backbone of global commerce. Valued at USD 2,181.1 billion in 2024, the market is projected to expand to USD 2,920 billion by 2035, registering a steady CAGR of 2.69% between 2025 and 2035. Despite modest growth, the industry's scale and importance are unmatched, as more than 80% of global trade volume is carried by…
More Releases for Office
Global Small Office Home Office (SOHO) Servers Market Size by Application, Type, …
According to Market Research Intellect, the global Small Office Home Office (SOHO) Servers market under the Internet, Communication and Technology category is expected to register notable growth from 2025 to 2032. Key drivers such as advancing technologies, changing consumer behavior, and evolving market dynamics are poised to shape the trajectory of this market throughout the forecast period.
The Small Office Home Office (SOHO) servers market is witnessing steady growth due to…
Office Reno Elevates Workspaces with Expert Commercial Office Renovations
Office Reno, a leader in office renovation services, is transforming workspaces with their expertise in commercial office renovations. With a focus on innovative design and functional solutions, Office Reno has become the go-to office renovation company for businesses in Singapore.
Office Reno is renowned for its exceptional commercial office renovation services, catering to businesses looking to revamp their workspaces in Singapore. Their team of experienced professionals combines creativity and functionality to…
Office Suite Tools Market Size in 2023 To 2029 | Apache Open Office, Ashampoo Of …
The primary objective of the Office Suite Tools market report is to offer a comprehensive comprehension of the overall market, ensuring that industry finances are kept up-to-date and informed decisions can be made. Moreover, it furnishes data on market share, market size, growth drivers, and the influence of the COVID-19 pandemic on both small and large-scale industries. Essential market aspects such as distribution channels and industry pricing system, along with…
Open Up Office Virtual Office & Coworking Sapces
We are the Open Up Office family.
The “Customer” and “Solution” based company, Open Up Office was founded in May 2011 and since then adding value by the services it offers to its business partners.
Open Up Office is a community of entrepreneurs and creative professionals. In the Open Up Office where you develop your ideas and are free to work, it is our job to support your creativity and cooperation.
Our clients…
Office Cleaning Sacramento launches 'Clean Office. Happy Office' Campaign
Sacramento, California, USA. April 22, 2012: Office Cleaning Sacramento, one of the leading commercial cleaning services in Sacramento, has announced the launch of its brand new 'Clean Office. Happy Office' campaign and reach out to the various commercial establishments in the city more proactively. The aim of the campaign is to encourage the commercial establishments in the city to provide for a better environment and healthy working conditions to their…
The moving office website, Help Moving Office, offers businesses a valuable Offi …
Help Moving Office, the moving office website, is pleased to announce the launch of its new Office Removals Checklist to help companies manage the actual office removals process. The physical move is a crucial element of the office relocation process – and is very often the part on which the whole office move project gets judged. The essential Office Removals Checklist is the easiest way to get everything done…
