Press release
Smart Space Market Reached USD 10.8 billion in 2021, and to reach USD 22.0 billion in 2029, exhibiting at a CAGR of 9.3% | Size, Growth & Forecast
Smart Space Market
For Additional Insights, Click to Access Complete Report - https://www.gmiresearch.com/report/global-smart-space-market/
The factors driving the growth of Smart Space Market includes rise in the construction of green buildings around the world, commercialization of 5G technology, increasing number of smart city projects, growing concerns related to carbon footprint and improvements in the living standards. According to the report published by Statista, the Global Smart Cities Market is estimated to reach USD 252.56 billion by the end of 2025, growing at a CAGR of 16.53% over the forecast period (2019-2025), which will accelerate the Smart Space Market size in the approach years. Moreover, increased adoption of advanced technologies by major companies such as Artificial Intelligence (AI), Internet of Things (IoT) and Machine Learning (ML), rise in the construction of buildings, factories, airports, and power plants across the globe and rapid urbanization, are some of the additional factors supplementing the market growth. In addition, the increasing investments by leading players on research and development, strategic acquisitions, and partnerships between major corporations and growing population growth rates, are further contributing towards the market growth.
However, growth of the Smart Space Market is hindered due to high cost of procuring connected devices and hardware.
The prominent players operating in the market are Hitachi Vantara, Iconics, Coor, Siemens, Huawei, IBM, Ubisense, Smarten Spaces, Schneider Electric, Smartspace Software PLC, ABB, and Cisco, among others.
Based on Application, the Emergency Management segment is predicted to dominate the market during the forecast period
Smart cameras help in monitoring remote areas 24*7, increasing deployment of ultrasonic location tracking system in research labs and power plants, growing application of smart floor technology in kitchens and entertainment centers to identify the residents in case of emergency, are some of the factors propelling growth of the segment.
Based on Region, the Asia-Pacific region is anticipated to expand at a remarkable CAGR over the forecast period
Increased adoption of advanced technologies by major companies, rise in Government's expenditure on the smart city projects, rapid growth in the construction of buildings and factories, rising per capita incomes and high population growth rates, are some of the important factors augmenting the market growth in Asia-Pacific region.
Market Segmentation
Segmentation by Application
Energy Management & optimization
Emergency Management
Security Management
Others
Segmentation By Components
Solutions
Services
Professional Services
Managed Services
Consultation
Deployment & Intergradations
Segmentation By Premises
Commercial
Residential
Others
Segmentation by Region
Asia Pacific
China
Japan
India
Rest of APAC
North America
United States of America
Canada
Europe
United Kingdom
Germany
France
Spain
Rest of Europe
RoW
Brazil
South Africa
Saudi Arabia
UAE
About GMI Research
GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.
Media Contact
Company Name: GMI RESEARCH
Contact Person: Sarah Nash
Email: enquiry@gmiresearch.com
Phone: Europe - +353 1 442 8820; US - +1 860 881 2270
Address: Dublin, Ireland
Website: https://www.gmiresearch.com/
Level 1, The Chase Carmanhall Road, Sandyford Industrial Estate, Dublin D18 Y3X2, Ireland
GMI Research's leadership team with extensive experience in research and consulting together with our research and domain expertise creates a strong value proposition to create solutions that addresses our clients business problems and add significant value to long lasting relationship.
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 Space Market Reached USD 10.8 billion in 2021, and to reach USD 22.0 billion in 2029, exhibiting at a CAGR of 9.3% | Size, Growth & Forecast here
News-ID: 2804405 • Views: …
More Releases from GMI Research
OLED Market is projected to rise at a higher CAGR during the forecast period | S …
The OLED Market is anticipated to expand at a remarkable CAGR during the forecast period
For Additional Insights, Click to Access Complete Report -
https://www.gmiresearch.com/report/global-oled-market/
The factors driving growth of the OLED Market includes increasing penetration of smartphones and gaming consoles around the world, Government policies supporting OLED lighting research, growing popularity of smart Televisions and improvements in the living standards. For instance, the revenue generated from the sales of video game consoles…
3D Printed Drugs Market is growing at a CAGR of 4.2% over the forecast period | …
The 3D Printed Drugs Market is growing at a CAGR of 4.2% over the forecast period.
For Additional Insights, Click to Access Complete Report - https://www.gmiresearch.com/report/global-3d-printed-drugs-market-by-technique-type/
The factors driving growth of the 3D Printed Drugs Market includes increasing geriatric population around the world, growing demand for soluble drugs, rising prevalence of stroke, Alzheimer's disease and head and neck tumors and improvements in the living standards. For instance, the population aged 60 and…
Virtual Private Cloud Market is expected to grow at a higher CAGR of 23.4% over …
The Virtual Private Cloud Market is projected to grow at a CAGR of 23.4% over the forecast period.
For Additional Insights, Click to Access Complete Report - https://www.gmiresearch.com/report/global-virtual-private-cloud-market/
The factors driving growth of the Virtual Private Cloud Market includes huge volumes of data generated across BSFI, Healthcare and Media & Entertainment industries, rising focus by companies on modernizing IT infrastructure, Government initiatives promoting digitalization, increasing number of data breaches reported around the…
Pest Control Services Market is poised to grow at a robust CAGR during the forec …
The Pest Control Services Market is estimated to grow at a robust CAGR over the forecast period
For Additional Insights, Click to Access Complete Report -
https://www.gmiresearch.com/report/pest-control-services-market/
The factors driving growth of market includes increasing demand for pest control services from hospitality, pharmaceutical, and food processing industries, growing focus on using biocides, rising concerns related to climate change, and improvements in the living standards. For instance, the market value of biocides worldwide was…
More Releases for Smart
Smart Cities Market is Expected to Witness CAGR of 17.3% by 2027 with Applicatio …
A smart city is an urban unit or area that uses various types of electronic Internet of Things (IoT) devices to collect data and then use the insights to manage resources, assets, and services effectively. Green building is a growing trend in the global smart cities market. Constructing eco-friendly infrastructure facilities can provide a sustainable environment in the cities. Moreover, governments are focused on constructing energy-efficient buildings, in order…
Internet of Things (IoT) Devices Market By Type (Computing Devices, Smart Media, …
On a global scale, the Internet of Things (IoT) Devices market is currently showing significant development. The innovative methods and market study have helped many of the major players Samsung Electronics, Apple, Lenovo, ASUS, Acer, Huawei, Coolpad, LG Electronics, Google, Panasonic, Microsoft, Brother Industries, Honeywell, Fitbit, Lenovo to carve a name for themselves in the competitive global market. The Internet of Things (IoT) Devices market is experiencing a massive growth…
Global Smart Cities Market by Component (Hardware, Software) by Application (Sma …
Global Smart Cities Market: Overview
The global smart cities market is expected to reach a mark of over USD 3000 billion by 2024, at a CAGR over 21% during the forecast period. Significant growth in next-generation technologies such as artificial intelligence AI, personalized healthcare, sustainable energy generation and robotics are driving the smart cities’ future. Moreover, the increase in residential preference towards the adoption of advanced information and communication technologies ICT…
Global Smart Infrastructure - A Smart Approach To Smart Cities In 2016
Slowly but surely we are beginning to see a transformation take place in many parts of the world, as governments and councils realise they need to take a holistic approach to future city-wide development. In Australia, for example, we see that Adelaide, Canberra, Newcastle, Lake Macquarie, Sydney, Ipswich and Sunshine Coast have all been identified as being among the leading smart cities. The Netherlands also has great examples of emerging…
Global Smart Infrastructure - A Smart Approach To Smart Cities In 2016
The global smart city transformation is underway
Slowly but surely we are beginning to see a transformation take place in many parts of the world, as governments and councils realise they need to take a holistic approach to future city-wide development. In Australia, for example, we see that Adelaide, Canberra, Newcastle, Lake Macquarie, Sydney, Ipswich and Sunshine Coast have all been identified as being among the leading smart cities. The Netherlands…
Smart Kitchen Appliances Market ( Smart Refrigerators, Smart Dishwashers, Smart …
The rising demand for smart kitchen appliances is linked to their premium design that offers better effectiveness and more comfort than their traditional counterparts. With energy efficiency at its core, the global market for smart kitchen appliances is expected to surge at a robust pace in the near future.In a report titled “Smart Kitchen Appliances Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2022,” Transparency…
