Comprehensive Smart Workplace Market Insights: Forecasting Size, Growth, and Competitive Trends from 2025 to 2034

What combination of drivers is leading to accelerated growth in the smart workplace market?
The growth of the smart workplace market is predicted to be propelled by the surge in the number of IoT-connected devices. These IoT-connected devices are non-standard computing machines that can connect to a wireless network and have the capacity to send and receive data. They facilitate a highly interconnected working environment, making communication and data exchange between devices and systems seamless, which in turn enhances workplace efficiency. For example, a report released by Ericsson, a telecommunications company based in Sweden, in November 2022 showed that broadband IoT (4G/5G), which accounts for the majority of cellular IoT devices, had achieved 1.3 billion connections in 2022. The report further suggested that by the end of 2028, almost 60% of cellular IoT connections will be broadband IoT connections with 4G forming the majority. Presently, Northeast Asia leads in terms of cellular IoT connections and it is projected that it will exceed 2 billion connections in 2023. Therefore, the upsurge in the number of IoT-connected devices is identified as a key driver influencing the expansion of the smart workplace market.

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What is the projected compound annual growth rate (CAGR) of the smart workplace market from 2025 to 2034, and what factors influence it?
In the past few years, the market size for smart workplaces has seen a substantial expansion. The growth is forecasted to continue from a size of $44.33 billion in 2024 up to $48.6 billion in 2025, with a Compound Annual Growth Rate (CAGR) of 9.6%. Factors like the emphasis on customization and personalization, the advent of flexible and agile workspaces and work environments, as well as considerations for energy efficiency and sustainability have contributed to the growth during the historic period.

The market size for smart workplaces is predicted to experience significant expansion in the upcoming years. By 2029, its size is anticipated to reach $85.16 billion, with a compound annual growth rate (CAGR) of 15.1%. The expansion during the predicted period can be linked to an emphasis on employee wellness and experience, cognitive cooperation, data protection and compliance, a zero trust security model, and employee analytics. Key trends during this forecast period are expected to be the implementation of IoT for workplace connectivity, monitoring of occupancy and space usage, interfaces controlled by voice-activation and gestures, improved security and access control, as well as real-time collaboration technologies and unified communications.

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How are the latest trends influencing the growth of the smart workplace market?
Leading businesses in the smart workplace market are innovating smart workplace applications to cater to a wider client base, boost sales, and augment revenue. Software and technological solutions that utilize data and automation to streamline office environments, augment productivity, and enrich the overall employee working experience come under smart workplace applications. For example, Planon, a Dutch firm specializing in smart workplace management platforms, introduced the Planon Workplace App in March 2023. What distinguishes this product is its capacity to create a personal, mobile-focused connection between people and their workplace, services, and facilities. The advanced app improves the hybrid workflow by offering a user-friendly and customized mobile interface. This platform gives users the easiness to locate and book their preferred desk, meeting room, and other facilities promptly, make space reservations direct from an animated floor plan, facilely send service orders for cleaning, catering, maintenance, and additional facility services, and access information regarding their colleagues, including their anticipated office presence timetable.

What are the major segments of the smart workplace market and their role in driving growth?
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

Subsegments:
1) By Smart Light: Smart LED Bulbs, Smart Lighting Controls, Daylight Harvesting Systems, Motion-Activated Lighting
2) By Security Systems: Access Control Systems, Surveillance Cameras, Intrusion Detection Systems, Smart Locks
3) By Energy Management Systems: Smart Meters, Energy Analytics Software, Demand Response Solutions, Renewable Energy Integration Systems
4) By HVAC Control Systems: Smart Thermostats, Zoning Systems, HVAC Monitoring Systems, Automated Ventilation Control
5) By Audio-Video Conferencing Systems: Video Conferencing Equipment, Collaboration Software, Integrated AV Solutions, Smart Presentation Tools

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Which regions are key players in the growth of the smart workplace market?
North America was the largest region in the smart workplace market in 2024.Asia-Pacific is expected to grow faster in the forecast period. The regions covered in the smart workplace market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

Who are the key firms paving the way for growth in the smart workplace market?
Major companies operating in the smart workplace market include 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

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What Is Covered In The Smart Workplace Global Market Report?

•Market Size Forecast: Examine the smart workplace market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the smart workplace market for a structured understanding.
•Key Players Overview: Analyze major players in the smart workplace market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the smart workplace market.
•Segment Contributions: Evaluate how different segments drive overall growth in the smart workplace market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the smart workplace market.
•Industry Challenges: Identify potential risks and obstacles affecting the smart workplace market.
•Competitive Landscape: Review strategic developments in the smart workplace market, including expansions, agreements, and new product launches.

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