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
Hydrofluoric Acid Market (CAGR) of 4%, Innovation Imperative Future Proofing You …
Hydrofluoric acid (HF) is a crucial chemical compound with a wide range of applications across various industries. Despite its hazardous nature, it plays an essential role in manufacturing processes, especially in the production of fluorine compounds. The global hydrofluoric acid market has been witnessing steady growth, driven by demand from end-user industries such as oil refining, pharmaceuticals, and electronics.
The Hydrodesulfurization Catalysts Market is projected to register a CAGR of over…
Palm Methyl Ester Derivative Market Size Projected to Grow at 5.92% CAGR, Reachi …
In recent years, the global market for palm methyl ester derivatives has witnessed significant growth, driven by various factors including environmental concerns, technological advancements, and the increasing demand for sustainable alternatives in various industries. Palm methyl ester derivatives, derived from palm oil, have emerged as versatile ingredients with applications spanning across sectors such as cosmetics, pharmaceuticals, lubricants, and more.
The Palm Methyl Ester Derivative Market Size was valued at USD 1.5…
Asia-Pacific Ceramic Tiles Market to Register Highest CAGR Growth of 7.50% by 20 …
The Asia-Pacific ceramic tiles market has been witnessing robust growth, driven by various factors such as increasing investments in residential and commercial construction, renovation activities, and the growing preference for aesthetically pleasing and durable flooring solutions. Countries like China, India, Japan, and South Korea have been leading the market growth, supported by strong manufacturing capabilities, technological advancements, and evolving consumer preferences.
Asia-Pacific Ceramic Tiles Market Size was valued at USD 141.2…
APAC Wallpaper Market to Register Highest CAGR Growth of 8% by 2032: Analysis by …
The APAC wallpaper market has witnessed significant growth in recent years, driven by factors such as rising disposable incomes, expanding construction activities, and growing awareness regarding interior decor. Countries like China, India, Japan, South Korea, and Australia have emerged as key contributors to the region's wallpaper market. Additionally, the increasing adoption of innovative wallpaper designs and patterns is fueling market growth further.
APAC Wallpaper Market Size was valued at USD 0.55…
More Releases for Office
MTC Office Relocations London Will Help Your Office Move
London, UK – 24 June 2021 - MTC Office Relocations London is offering the best office relocation services on the market – the right combination of price and quality indeed.
Whenever it comes to office relocation, odds are, you are going to be off looking for the most reliable ways to make the most from your needs as well as requirements. Be that the case, chances are, you will be off…
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 Chairs Market Report 2018: Segmentation by Product (Leather Office Chair, …
Global Office Chairs market research report provides company profile for HNI Group, Okamura Corporation, Kimball Office, AURORA, TopStar, Bristol, True Innovations, Steelcase, Herman Miller, Haworth and Others.
This market study includes data about consumer perspective, comprehensive analysis, statistics, market share, company performances (Stocks), historical analysis 2012 to 2017, market forecast 2018 to 2025 in terms of volume, revenue, YOY growth rate, and CAGR for the year 2018 to 2025, etc.…
Office Interiors: Latest and Exciting Office Design Trends
Perfect and well-designed office improves the ability and performance of employees
As the battle for talent becomes more and more competitive, companies are concentrating only on staff retention and increasing productivity. Another way to compete for retention is investing in the office environment. And, the environment majorly depends on the interior design of the office.
Improved communication support and cloud services have made easier for teams to work on projects without meeting…
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…
