Rising IOT Device Adoption Fuels The Growth Of The Smart Workplace Market: A Key Catalyst Accelerating Smart Workplace Market Growth in 2025

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Smart Workplace Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
The expansion of the smart workplace market has been quite robust in recent years. The market, which stood at $44.33 billion in 2024, is projected to reach $48.6 billion in 2025, reflecting a compound annual growth rate (CAGR) of 9.6%. Factors such as the rise in customization and personalization, the adoption of flexible and agile workspaces, the shift towards flexible work environments and the push for energy efficiency and sustainability have all contributed to its growth during the historic period.

Smart Workplace Market Size Forecast: What's the Projected Valuation by 2029?
It is projected that the smart workplace market will experience swift expansion in the coming years. The market is set to reach $85.16 billion by 2029, growing at a compound annual growth rate (CAGR) of 15.1%. This expected growth during the forecasted period can be ascribed to the increased emphasis on employee wellness and experience, cognitive cooperation, data safety and compliance, a zero trust security model, and employee analytics. Key trends anticipated during this period include the implementation of IoT for workplace networking, monitoring of occupancy and space usage, voice-operated and motion-sensing interfaces, enhanced security and access control systems, as well as real-time collaborative tools and integrated communication.

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What Are the Drivers Transforming the Smart Workplace Market?
The smart workplace market's expansion is projected to be stimulated by the rise in the quantity of devices linked to the Internet of Things (IoT). These IoT-linked devices are unconventional computing devices that can connect wirelessly to a network and send data. These devices foster an intensively interconnected workplace, promoting effortless communication and data transfer among various devices and systems, thereby enhancing workplace efficiency. For example, as per a report by Ericsson, a telecommunications company based in Sweden, in November 2022, broadband IoT (4G/5G), responsible for connecting the lion's share of cellular IoT devices, achieved 1.3 billion connections in 2022. Approximately 60% of all cellular IoT connections are expected to be via broadband IoT by the end of 2028, with most of them being connected through 4G. Northeast Asia is currently leading the pack in terms of cellular IoT connections, and it is expected to exceed 2 billion connections by 2023. Hence, the rise in IoT-linked devices is fueling the smart workplace market's growth.

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What Long-Term Trends Will Define the Future of the Smart Workplace Market?
Major corporations in the smart workplace sector are focusing on the creation of smart workplace apps to expand their clientele, boost sales, and augment their revenues. These apps are essentially software and technology solutions that leverage data and automation to refine office atmospheres, boost efficiency, and elevate the overall work experience for employees. For example, Planon, a company based in the Netherlands that provides a smart workplace management platform, introduced the Planon Workplace App in March 2023. The defining feature of this app is the creation of a bespoke, mobile-focused connection between individuals and their workplaces, services, and amenities. This updated app enhances the hybrid work experience by offering a user-friendly and personalized mobile platform. This platform enables users to easily locate and book their chosen desk, meeting room, and other facilities, make workspace reservations directly via an interactive floor map, seamlessly place service requests such as cleaning, catering, maintenance and more, as well as access information about their colleagues, including their anticipated office presence schedule.

Which Segments in the Smart Workplace Market Offer the Most Profit Potential?
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 Firms Dominate the Smart Workplace Market by Market Share and Revenue in 2025?
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

Which Regions Offer the Highest Growth Potential in 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

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