Smart Office Market Emerging Trends, Technology and Business Outlook 2021 to 2025

The Smart Office Market report is a valuable source of insightful data for business strategists. It provides the industry overview with growth analysis and historical & futuristic cost, revenue, demand, and supply data. The research analysts provide an elaborate description of the value chain and its distributor analysis. This Market study provides comprehensive data that enhances the understanding, scope, and application of this report.

The Smart Office market was valued at USD 28.04 billion in 2019 and is expected to reach USD 55.62 billion by 2025, at a CAGR of 13.6% over the forecast period 2020 - 2025.

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Top Leading Companies of Global Smart Office Market are Johnson Controls International PLC, Cisco Systems Inc., United Technologies Corp., Siemens AG, Schneider Electric SE, Koninklijke Philips NV, Honeywell International Inc., ABB Ltd., Lutron Electronics Co. Inc., Crestron Electronics Inc and others.

Industry News and Updates:

In September 2017, United Technologies acquired Rockwell Collins to complement its existing capabilities. This acquisition is likely to strengthen innovative systems capabilities and integrated digital product offerings, including avionics, flight controls, and data services.

Key Market Trends:

Energy Management System Expected to Hold Largest Share

The demand for this product is expected to be driven by the growing adoption in the office spaces of large scale organizations. Solutions in this include automated smart plugs, load control switches, utility billing management (smart meters), personal energy management, data analysis and visualization, and auditing.

The rising cognizance regarding a building's growing role in climate change is shifting investors and owners preferences, thus urging them to improve the performance of their buildings to stay competitive, specifically, in the commercial office segment. For instance, buildings in the United States consume nearly three-quarters of the country’s electricity, and are responsible for 39% of all greenhouse gas emissions.

Organizations are increasingly adopting EMS for optimization of energy consumption, utilization of dynamic pricing tariffs, and demand control, thus reducing overall costs. The large-scale companies require energy in various forms to perform diverse operations, including powering telecom network, modern computer equipment, data equipment, and optical transport networks.

The government initiative to decrease energy emission from old and public buildings is also aiding the market. For instance, the US General Services Administration has made a contract with IBM to install advanced and smart building technology in 50 of the federal government’s highest energy-consuming buildings.

United States to Hold Significant Share

The United States is one of the early adopters of emerging technology across the world, including the internet of things (IoT), which is incorporated in several industries, including smart offices. The technological advancement in the IoT field, particularly for offices, coupled with the rising need for security and safety system, is expected to propel the market growth in the United States.

Additionally, the growing savvy businesses are integrating internet of things (IoT) in the United States to enhance the office environment by reducing workload and saving on overhead money.
The Americans, primarily from the United States, spend 90% of their lives in buildings, including retail, public service facility, office, and homes. This has increased the investment from the government in office buildings to make them employee-friendly, which is likely to foster market growth over the next six years.

Notably, the government regulations associated with the integration of smart technologies are in favor of the office segment, which is one of the accelerating factors for smart buildings.
Moreover, according to the Consumer Technology Association, the penetration of smartphone IoT consumer device is increasing, which is ascending the scope for smart offices in the United States.

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Highlights of the Smart Office Market Report:

– Detailed overview of Smart Office Market
– Changing the Smart Office market dynamics of the industry
– In-depth market segmentation by Type, Application, etc.
– Historical, current and projected Smart Office market size in terms of volume and value
– Recent industry trends and developments
– Competitive landscape of Smart Office Market
– Strategies of key players and product offerings
– Potential and niche segments/regions exhibiting promising growth.

The research includes historic data from 2015 to 2021 and forecasts until 2025 which makes the report an invaluable resource for industry executives, marketing, sales, and product managers, consultants, analysts, and stakeholders looking for key industry data in readily accessible documents with clearly presented tables and graphs.

Finally, the Smart Office Market report is the believable source for gaining the market research that will exponentially accelerate your business. The report gives the principle locale, economic situations with the item value, benefit, limit, generation, supply, request, and market development rate and figure, and so on. Smart Office industry report additionally Presents a new task SWOT examination, speculation attainability investigation, and venture return investigation.

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