United States Smart Office Market 2025 | Growth Drivers, Key Players & Investment Opportunities

Market Size and Growth

The Global Smart Office Market reached US$ 32.3 billion in 2022 and is expected to reach US$ 90.4 billion by 2030, growing with a CAGR of 11.3% during the forecast period 2024-2031.

Key Development:

United States: Recent Industry Developments

✅ In October 2025, Smartworks Coworking Spaces Limited leased over 1 million sq ft of office space across four cities, demonstrating strong demand for flexible workspace solutions in urban markets.

✅ In October 2025, Smartworks Coworking Spaces Limited leased 557,000 sq ft at Tata Realty's Navi Mumbai Intellion Park, marking a significant expansion in the Navi Mumbai area.

✅ In July 2025, Smartworks Coworking Spaces Limited announced plans for an Initial Public Offering (IPO) with a price band of Rs 387-407 per equity share, targeting a post-listing valuation of Rs 4,645 crore.

Japan: Recent Industry Developments

✅ In June 2024, Mitsui Fudosan Co., Ltd. opened MITSUI LINK-Lab NAKANOSHIMA, the first rental wet lab facility in central Osaka, to support the growth of the life sciences industry in the Kansai region.

✅ In May 2024, Mitsui Fudosan Co., Ltd. announced plans to participate in the Innovation Square Phase III project in Boston, Massachusetts, expanding its rental laboratory and office business in the U.S.

✅ In July 2024, ITOCHU Corporation announced its participation in the Smart City Project of Tainan in Taiwan, aiming to accelerate technical innovation using green energy technologies.

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A smart office integrates advanced technologies like IoT devices, AI-driven analytics, and automation to optimize workspace efficiency, comfort, and security. It enhances employee productivity, energy management, and collaboration while enabling data-driven decision-making in modern workplaces.

Recent Mergers and acquisitions:

United States: Recent M&A Developments

✅ August 2025 - HNI Corporation acquired Steelcase for approximately $2.2 billion, aiming to capitalize on the return-to-office trend. The deal combines HNI's workplace furnishings with Steelcase's global presence, targeting enhanced offerings for small-to-medium businesses and educational sectors. The merger is expected to close by the end of 2025, with projected annual synergies of $120 million.

✅ June 2025 - IBM announced the acquisition of Seek AI, a New York-based startup, to bolster its enterprise data tools. This move is part of IBM's strategy to enhance its AI capabilities and support next-generation enterprise developers.

✅ June 2025 - New Mountain Capital acquired a significant stake in healthcare software provider Office Ally from Francisco Partners, valuing the business at approximately $1.8 billion. This transaction reflects a trend where private equity firms sell portfolio companies to one another, motivated by the need to exit older investments and deploy capital from newer funds.

Key Players:

=> ABB Ltd., Harvatek Corporation, Cisco Systems Inc., Honeywell International Inc., Legrand SA, Johnson Controls International Plc, Lutron Electronics Co. Inc., Siemens AG, Philips Lighting Holding B.V. (Signify Holding) and Schneider Electric S.E.

Growth Forecast Projected:

The Global Smart Office Market is anticipated to rise at a considerable rate during the forecast period, between 2024 and 2031. In 2023, the market is growing at a steady rate, and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.

Research Process:

Both primary and secondary data sources have been used in the global Smart Office Market research report. During the research process, a wide range of industry-affecting factors are examined, including governmental regulations, market conditions, competitive levels, historical data, market situation, technological advancements, upcoming developments, in related businesses, as well as market volatility, prospects, potential barriers, and challenges.

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Key Segments:

➥ By Offering: Hardware, Software, Services
➥ By Product: Smart Lighting, Intelligent Security Systems, Energy Management Systems, Network Management Systems, Audio-Video Conferencing Systems, Others
➥ By Connectivity Technology: Wireless Technologies, Wired Technologies
➥ By End User: Commercial, Residential, Industrial

Regional Analysis for Smart Office Market:

⇥ North America (U.S., Canada, Mexico)

⇥ Europe (U.K., Italy, Germany, Russia, France, Spain, The Netherlands and Rest of Europe)

⇥ Asia-Pacific (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)

⇥ South America (Colombia, Brazil, Argentina, Rest of South America)

⇥ Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

Benefits of the Report:

Chapter 1: Sets the stage by outlining the report's coverage, summarizing key market segments by region, product type, and application. Presents a snapshot of market sizes, growth potential across segments, and anticipated industry evolution both short and long term.

Chapter 2: Highlights pivotal market insights and uncovers the most significant emerging trends driving change within the industry.

Chapter 3: Offers an in-depth look at the competitive landscape among Smart Office producers, including revenue shares, strategic moves, and recent mergers and acquisitions.

Chapter 4: Presents comprehensive profiles of the market's key players, delving into details such as revenue, profit margins, product portfolios, and company milestones.

Chapters 5 & 6: Analyze Smart Office revenue at both regional and country levels, providing quantitative breakdowns of market sizes, growth opportunities, and development prospects worldwide.

Chapter 7: Focuses on different market segments by type, examining their individual sizes and potential, guiding readers toward high-impact, untapped market areas.

Chapter 8: Explores segmentation by application, evaluating industry growth potential in various downstream markets and pinpointing promising sectors for expansion.

Chapter 9: Provides a thorough review of the industry's supply chain mapping out both upstream and downstream activities.

Chapter 10: Concludes with a summary of the report's key findings and highlights the most critical takeaways for industry stakeholders.

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FAQ

What is the current size of the Smart Office Market?

A: In 2022, the Smart Office Market was valued at US$ 32.3 billion , reflecting its strong industry presence.

Q2: How large is the Smart Office Market expected to be by 2030?

A: By 2030, industry forecasts suggest the Smart Office Market will grow to around US$ 90.4 billion, demonstrating significant expansion.

Q3: What is the growth rate of the Smart Office Market?

A: The market is projected to expand at a compound annual growth rate (CAGR) of 11.3% during the forecast period from 2024 to 2031.

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