Smart Workplace Market Size And Competitive Analysis : ABB Ltd, Cisco Systems Inc, Crestron Electronics, Honeywell International Inc

A smart workplace is a workplace where technology integrates with solutions to enable people to work better, faster, and smarter. Beacons, sensors, and mobile apps help employees perform menial tasks better and faster, providing them enough time to focus on growing businesses and innovating. Furthermore, in a smart workplace, technology helps people to communicate better.

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For instance, sensors can tell if a person is in the building, where exactly they are at any given moment and even if a certain conference room is booked and for how long. Advantages of smart workplace are it attracts and retains staff, creates a collaborative culture, provides a better customer service, unites workforce, captures business IP, boosts customer privacy, cuts costs structure, and breaks down data silos.

Major players analyzed in the market include ABB Ltd., Cisco Systems Inc., Crestron Electronics, Inc., Honeywell International Inc., Johnson Controls International PLC, Lutron Electronics Co. Inc., Schneider Electric S.A., Siemens AG, Philips Lighting Holding B.V., and United Technologies Corporation.

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Smart workplace market is driven by the need of energy savings at the workplace, better productivity by using new technologies tools for data storing and communications, reduce cost, and make optimum use of resources available at workplace. The increasing demand for flexibility in working and agility in business is another factor, which is driving the market for smart workplace. Teleworking trend is also surging the adoption of smart workplace as it saves time of the employees commuting from home to workplace and can utilize that time working from home. Penetration of artificial intelligence, machine learning, and data analytics in the smart offices is propelling the growth of smart workplace market.

Building an AI powered digital workplace can encourage end users to adopt a new data-driven way of working as their new toolset provides added value out-of-the-box and enables them to do more by integrating smart platforms. Also, AI driven voice enabled virtual assistants in the office is increasing as end users are getting aware about the benefits of AI integration in business solutions.

AI is also used to gain insights from unused data, video communication, better performance management, and enhancing sales productivity. This factor will create opportunity in the global smart work place market globally in forecast period of time.

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Lastly, this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

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