Smart Office Market Will See Strong Expansion Through 2030

Allied Market Research, titled, "Smart Office Market By Offering, Product Type, Connectivity Technology, and End User: Global Opportunity Analysis and Industry Forecast, 2021-2030", the global smart office market size was valued at $31.37 billion in 2020, and is projected to reach $90.63 billion by 2030, registering a CAGR of 11.10%. Asia-Pacific is expected to be the leading contributor to the smart office market during the forecast period, followed by LAMEA and North America.

𝐀𝐜𝐜𝐞𝐬𝐬 𝐭𝐡𝐞 𝐅𝐮𝐥𝐥 𝐑𝐞𝐩𝐨𝐫𝐭 @ https://www.alliedmarketresearch.com/smart-office-market-A13723

A smart office is a work environment that utilizes innovation to raise employees' efficiency. It provides several benefits such as optimizing space utilization, automating repetitive resource scheduling tasks, increasing collaboration, providing a slick visitor experience, and helping in reducing carbon footprint.

The global smart office market growth is anticipated to be driven by factors such as the rising need for safety & security systems at the workplace, the advancement of IoT in smart office offerings, and surging demand for sensor-based networks for energy efficiency. In addition, favorable government regulations in several countries boost the overall market growth. However, the complexity of upgrading and replacing the existing system acts as a major restraint for the global industry. On the contrary, the evolving cloud-based environment of IoT platforms is expected to create lucrative opportunities for the smart office industry.

Moreover, developing nations tend to witness high penetration of smart office products, especially in the commercial sector, which is anticipated to augment the market growth. Factors, such as supportive industry standards and regulations, accelerate market growth.

𝐆𝐞𝐭 𝐚 𝐏𝐃𝐅 𝐛𝐫𝐨𝐜𝐡𝐮𝐫𝐞 𝐟𝐨𝐫 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐢𝐚𝐥 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬 𝐚𝐧𝐝 𝐁𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐈𝐧𝐭𝐞𝐥𝐥𝐢𝐠𝐞𝐧𝐜𝐞 @ https://www.alliedmarketresearch.com/request-sample/A13723

The global smart office market is segmented based on offering, product type, connectivity technology, end user, and region. By offering, the market is classified into hardware, software, and service. Depending on product type, it is categorized into smart lighting, intelligent security systems, energy management systems, network management systems, audio-video conferencing systems, and others. The connectivity technologies covered in the study include wireless technologies and wired technologies. Based on end-user, the market is fragmented into commercial, residential, and industrial.

Region-wise, the smart office market trends have been analyzed across North America, Europe, Asia-Pacific, and LAMEA. Europe contributed the maximum revenue in 2020. However, between 2020 and 2030, the smart office market in Asia-Pacific is expected to grow at a faster rate as compared to other regions. This is attributed to an increase in demand from emerging countries such as India, China, Japan, Taiwan, and South Korea.

Asian and European countries under lockdowns have suffered major losses of business and revenue due to the shutdown of manufacturing units. The operations of the production and manufacturing industries have been heavily impacted by the outbreak of the COVID-19 disease, which further impacted the growth of the smart office market.

In addition, the COVID-19 pandemic has impacted the electronics sector, as production facilities have stalled, which, in turn, boosted the demand for electronics and semiconductor products in the industries. Its major impact includes large manufacturing interruptions across Europe and interruption in Chinese parts exports, which may hinder market growth.

𝐆𝐞𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐰𝐢𝐭𝐡 𝐲𝐨𝐮𝐫 𝐑𝐞𝐪𝐮𝐢𝐫𝐞𝐦𝐞𝐧𝐭𝐬: https://www.alliedmarketresearch.com/request-for-customization/A13723

𝐊𝐞𝐲 𝐅𝐢𝐧𝐝𝐢𝐧𝐠𝐬 𝐨𝐟 𝐭𝐡𝐞 𝐒𝐭𝐮𝐝𝐲

- The commercial sector is projected to be the major application, followed by residential.
- Asia-Pacific and North America collectively accounted for more than 48% of the smart office market share in 2020.
- India is anticipated to witness the highest growth rate during the forecast period.
- The U.S. was the major shareholder in the North America smart office market, accounting for approximately 61% share in 2020.
- Depending on the offering, the hardware segment generated the highest revenue in 2020. However, the software segment is expected to witness the highest growth rate shortly.
- Region-wise, the smart office market was dominated by Europe. However, Asia-Pacific is expected to witness significant growth in the coming years.

The key players profiled in the report include 𝐀𝐁𝐁 𝐋𝐭𝐝., 𝐂𝐢𝐬𝐜𝐨 𝐒𝐲𝐬𝐭𝐞𝐦𝐬 𝐈𝐧𝐜., 𝐇𝐚𝐫𝐯𝐚𝐭𝐞𝐤 𝐂𝐨𝐫𝐩𝐨𝐫𝐚𝐭𝐢𝐨𝐧, 𝐇𝐨𝐧𝐞𝐲𝐰𝐞𝐥𝐥 𝐈𝐧𝐭𝐞𝐫𝐧𝐚𝐭𝐢𝐨𝐧𝐚𝐥 𝐈𝐧𝐜., 𝐉𝐨𝐡𝐧𝐬𝐨𝐧 𝐂𝐨𝐧𝐭𝐫𝐨𝐥𝐬 𝐈𝐧𝐭𝐞𝐫𝐧𝐚𝐭𝐢𝐨𝐧𝐚𝐥 𝐏𝐥𝐜, 𝐋𝐞𝐠𝐫𝐚𝐧𝐝 𝐒𝐀, 𝐋𝐮𝐭𝐫𝐨𝐧 𝐄𝐥𝐞𝐜𝐭𝐫𝐨𝐧𝐢𝐜𝐬 𝐂𝐨. 𝐈𝐧𝐜., 𝐏𝐡𝐢𝐥𝐢𝐩𝐬 𝐋𝐢𝐠𝐡𝐭𝐢𝐧𝐠 𝐇𝐨𝐥𝐝𝐢𝐧𝐠 𝐁.𝐕. (𝐒𝐢𝐠𝐧𝐢𝐟𝐲 𝐇𝐨𝐥𝐝𝐢𝐧𝐠), 𝐒𝐜𝐡𝐧𝐞𝐢𝐝𝐞𝐫 𝐄𝐥𝐞𝐜𝐭𝐫𝐢𝐜 𝐒.𝐄., 𝐚𝐧𝐝 𝐒𝐢𝐞𝐦𝐞𝐧𝐬 𝐀𝐆. These players have adopted various strategies, such as business expansion and product launches, to strengthen their foothold in the industry.

𝐄𝐧𝐪𝐮𝐢𝐫𝐲 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠: https://www.alliedmarketresearch.com/purchase-enquiry/A13723

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