Smart and Connected Offices Market - Global Industry Analysis, Size, Share 2020

Smart and connected office is a technologically integrated office whereby all the working processes in an organization are made simpler and flexible by extensive use of network based devices. Such integration enables the employees in performing their office tasks efficiently and enables the organizations in generating revenues by coordinating the various functions and reducing the power consumption by implementing eco-friendly processes. Over the traditional office systems, smart and connected office concepts effectively address data security issues, delays in performing various tasks and forgery.

On the basis of building types, smart and connected office market is segmented into new buildings and retrofit buildings. On the basis of solution type, the smart and connected offices is segmented into smart HVAC control systems, fire and safety control systems, audio and video conferencing systems, energy management systems, security and access control systems, smart lighting systems and others. Smart HVAC control systems include smart thermostats, pumps and fans, actuators, dampers, heating and cooling coils, control valves and sensors.

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The fire and safety control systems include fire security, emergency response systems and others. The audio and video conferencing systems include touch screens and keypads, multimedia room controllers, home theatre systems and audio and volume controls. The energy management systems include smart meters and smart appliances. The security and access control systems include card based systems, biometric systems, surveillance cameras and intrusion alarm systems. The smart lighting systems comprises transmitters, receivers, dimming and switching actuators, controllable breakers, relays and occupancy sensors. On the basis of communication protocols, the smart and connected office market is segmented into Modbus, KNX/EIB, LonWorks (local operating network), Zigbee, BACnet, Nema and DALI (Digital Addressable Lighting Interface).

Increasing work-on-the-go culture and Bring your Own Device (BYOD) is one of the major factors that are fuelling the growth of smart and connected offices market. Now-a-days business enterprises are promoting the use of mobile devices so as to permit employees in carrying out various tasks such as accessing emails and managing official documents while on the move. This enhances employee satisfaction rate and increases productivity. The smart and connected offices concept is able to integrate such devices and provides real-time data for faster decision making. Stiff competition among the companies to adopt high innovation concepts is another factor contributing the growth of smart and connected offices market. To be competitively ahead, many companies are adopting the concept of smart and connected offices to respond to the needs of employees and keep a track of them. The proliferation of the internet economy with increasing bandwidths has further contributed to the smart offices concept by integrating smart phones and tablets for efficiently carrying out different tasks.

However, one of the major restraints affecting the growth of smart and connected offices concept is the security risks that are associated with hand-held devices. There is a high possibility of unauthorized access where the users enter without abiding by the company policies and procedures. Another restraint is that such concepts are associated with huge financial investments. When business organizations invest in such technologies, they expect a considerable amount of returns. In some cases the returns are not fully realized due to the unwillingness of the employees to adapt to such systems. Since smart offices are a long term investment, smaller business organizations are reluctant to initiate such investments.

To increase revenues and cater to the increasing demand of smart offices, the major players in this market are further penetrating the market by expanding their business operations. For instance, Crestron Electronics, Inc., one of the major players in this market, recently opened their regional office in Dubai. The other players in the market include United Technologies Corporation, Siemens AG, Johnson Controls, Inc. and Honeywell International Inc.

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