Global Smart Office Market 2019-2026
Report Overview:
The world is witnessing technological revolution and new era technologies have emerged like the Internet of Things (IoT) and Artificial intelligence (AI). With the development of these new techniques, the global smart office market is also expected to see an upsurge in the upcoming years. The smart offices are intelligent offices as they include advanced infrastructure which is interconnected via a central system and is fully automated. The communication network and smart sensors provide data analysis in real-time and all data is wirelessly transmitted. The main benefit of a smart office is that they make the workplace environment more productive, reduce the workload and also help in reducing operational costs. These facilities are expected to boost the sales of intelligent offices leading to the ascension of the Global smart office market worldwide.
Many organizations are now preferring the integration of their office spaces with IoT which can boost work efficiency. The advanced HVAC and automated lighting systems are easily managed with this technology and help in reducing emission levels also.
With the rising carbon emission levels, there is growth in demand for energy management systems which are eco-friendly. Most of the industries and even the newly built constructions are deploying the energy management systems in their workspaces. This helps the large companies to save good amount of revenue by controlling the energy consumption and help save the environment also. This factor is noted to mark an upsurge in the development of the Global smart office market around the globe. Other factors like the rising number of information technology giants establishing their offices in different countries, more investment in real estate projects are making the sales of the smart office market to boost. Also, the bigger organizations strive for more safety and security of their workplace and of the employees for which they need smart cameras and electronic locks. They also need safety of their data and documents which is made easier with integration of smart office hardware. All the above indicators are expected to drive the global smart office market over the forecast period.
The intelligent office concept is unique but there are concerns over the security of the system as it involves wireless transmission. This makes it prone to cyber attacks by hackers who may steal the data and sell it to their rival companies. Moreover, the installation Costa is high for the integration of smart offices and may face protocol issues with an already existing system. This is a big hindrance to the growth of the Global smart office market in the years to come.
Top Key Vendors:
Siemens AG
Timeular
Honeywell Internarnational, Inc.
Johnson Controls, Inc.
Lutron Electronics Co. Inc.
Sony Mobile Communications, Inc.
ABB Ltd
LiveTecs
Schneider Electric SA
Koninklijke Philips N.V.
United Technologies Corporation
Ericsson
Replicon
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Market Segmentation:
The segmentation of the Global smart office market is done on basis of the product type and application type. It’s necessary to divide the market to get real-time insights for the audience. The product type has been further divided into smart office lighting, security and access control system, energy management system, smart HVAC system, audio-video conferencing system, fire and safety control systems, and others. The application type has been further divided into new construction offices and retrofit offices.
Detailed Regional Analysis:
The analysis of the intelligent offices is made on the basis of different regions. These geographical areas include America’s, Europe, The APAC, Middle East and Africa. Out of these, the Asia Pacific region is foreseen to show an ascension in growth. This can be attributed to the rapid urbanization and industrialization in these regions clubbed together with the implementation of the IoT network in smart offices. The United States will also hold a significant share of the market. This is owing to the early adoption of technology and government initiatives towards making the buildings green.
Industry News:
The latest hype in the office supplies segment has been rolled out by e-commerce giant Amazon. They have launched a Smart dash shelf which has internet connectivity and can order the office items like papers or rolls before they run short of supply. This is seen as Amazon’s strategy to attain larger share in the office supplies segment.
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