Press release
Smart Workplace Market 2024 - By Size, Share, Industry Growth Analysis Report By 2033
The new report published by The Business Research Company, titled ""Smart Workplace Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033"", delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.As per the report, the smart workplace market size has grown rapidly in recent years. It will grow from $40.91 billion in 2023 to $45.34 billion in 2024 at a compound annual growth rate (CAGR) of 10.8%. The smart workplace market size is expected to see rapid growth in the next few years. It will grow to $73.03 billion in 2028 at a compound annual growth rate (CAGR) of 12.7%.
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Rising IOT Device Adoption Fuels The Growth Of The Smart Workplace Market
The increasing number of IoT-linked devices is expected to boost the growth of the smart workplace market going forward. IoT-linked devices refer to nonstandard computing devices that connect wirelessly to a network and have the ability to transmit data. IoT devices create a highly interconnected workplace, enabling seamless communication and data sharing between devices and systems, leading to increased workplace efficiency. For instance, in November 2022, according to a report published by Ericsson, a Sweden-based telecommunication company, broadband IoT (4G/5G), which connects the majority of cellular IoT devices, reached 1.3 billion connections in 2022. Nearly 60% of cellular IoT connections are anticipated to be broadband IoT connections by the end of 2028, with 4G connecting the bulk. In terms of cellular IoT connections, North East Asia is currently in the lead; in 2023, it is predicted to surpass 2 billion connections. Therefore, the increasing number of IoT-linked devices is driving the growth of the smart workplace market.
Smart Workplace Applications Are Transforming The Market
Major companies operating in the smart workplace market are developing smart workplace applications to meet larger customer bases, more sales, and increase revenue. Smart workplace applications refer to software and technology solutions that use data and automation to optimize office environments, enhance productivity, and improve the overall working experience for employees. For instance, in March 2023 Planon, a Netherlands-based provider of smart workplace management platform, launched Planon Workplace App. The standout characteristic of this product is its ability to establish a personalized, mobile-centric link between individuals and their workplace, services, and facilities. The upgraded app enhances the hybrid work experience by providing users with a convenient and personalized mobile interface. This interface allows users to effortlessly find and reserve their preferred desk, meeting room, and other facilities, make workspace reservations directly from an interactive floor plan, seamlessly submit service requests for cleaning, catering, maintenance, and other facility services, and access information about their colleagues, including their expected office presence schedule.
The smart workplace market covered in this report is segmented -
1) By Product: Smart Light, Security Systems, Energy Management systems, HVAC Control Systems, Audio-Video Conferencing Systems
2) By Office Type: Retrofit Buildings, New Construction Offices
3) By Solution: Software, Services, Managed Services
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Major companies operating in the smart workplace market report are Carrier Corporate, Honeywell International Inc., Johnson Controls, Daikin Industries, General Electric Company, Philips Lumileds, Acuity Brands, LG Electronics, OSRAM Licht AG, RavenWindow, Schneider Electric SE, Research Frontiers, NICE Systems, SAGE Electrochromics, Bosch Security Systems, Cisco Systems Inc., Siemens AG, Kronos Incorporated, ATOSS Software AG, Teem Technologies, Crestron Electronics Inc., Axis Communications, Koninklijke Philips NV, United Technologies Corporation, Signify NV, Verizon Communications Inc., Martela Oyj, Microsoft Corporation, Google LLC, Amazon Web Services Inc., Oracle Corporation
Contents of the report:
1. Executive Summary
2. Smart Workplace Market Report Structure
3. Smart Workplace Market Trends And Strategies
4. Smart Workplace Market - Macro Economic Scenario
5. Smart Workplace Market Size And Growth
…..
27. Smart Workplace Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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