Market Highlights:
Smart office makes use of cutting-edge, internet enabled technology to control and streamline its key operating systems and services and create a better workplace. By the creation of enhanced user experience, smart offices help to increase productivity and promote a sense of corporate brand value among employees. As per the analysis of Market Research Future (MRFR), the global smart office market is proliferating and is likely to reach a significant valuation in the forthcoming years.
With the change in business environment, evolving organizations are making a shift towards the smart office. Smart offices are permeating in a large number of enterprises since it automates various functions in an office space and allows enhanced operational functionality. Smart offices are far more versatile than the ordinary ones as they bring interoperability between different systems with the smart interaction of intelligent building management systems and the IoT (Internet of Things). Design and management have a profound impact on employee productivity enticed by which enterprises are progressively adopting smart offices. Moreover, it has been observed that stronger digital culture can be linked to increased efficiency. Adoption of IoT by enterprises is expected to create a conducive environment for the growth of the smart office market. IoT has a myriad of applications which equips offices with unprecedented levels of inter-networking.
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Major Key Players
- Koninklijke Philips NV.,
- Honeywell International Inc.,
- ABB Ltd.,
- Schneider,
- Electric SE.,
- Siemens AG.,
- United Technologies Corporation,
- Johnson Controls International PLC.,
- Cisco Systems Inc.,
- Crestron Electronics Inc.,
- Lutron Electronics Co. Inc.,
- Philips Lighting Holding B.V.
Report Overview
This MRFR’s market research report delivers a comprehensive and unbiased analysis of key market trends in the global smart office market. It includes discussion on historical trends, current market status, consumer landscape, growth opportunities and challenges based by factful feedbacks. The primary types of smart office that have been assessed in the report are retrofit and new construction. The components covered in the report are hardware, software and services. The sub-markets that are included in the report are profiled under four major regions such as Asia Pacific, Europe, North America and the rest of the world, with respective country-level analysis.
Segmentation
The global smart office market has been segmented based on building type and component. By building type, the market has been segmented into retrofit and new construction. By component, the market has been segmented into hardware, software, and service. The hardware segment has been further segmented into smart lighting, security and access control systems, audio video conferencing systems, energy management systems, smart HVAC control systems, and fire and safety control system.
Regional Analysis
North America, Europe, Asia Pacific, and the Rest of the World are the key markets for smart office. North America is one of the strong markets for smart office owing to the presence of a large number of established enterprises and concentration of major key players in the region. High penetration of technology and substantial investment in modernization of offices also drives the market in North America.
Europe too is following North America closely and is expected to fare well in the comings years. High investment in office automation by economies such as France, Italy, Spain, Germany, and the UK support the growth of the market.
Asia Pacific market is expected to advance rapidly in the next couple of years. Growing number of SMEs in the developing economies of India, China, Japan and growth of the service sector in the region is anticipated to drive the Asia Pacific smart office market.
The Rest of the World market for smart office is also expected to have steady growth in the future. The rapid adoption of modern technologies and heightened demand for smart office solutions will drive the market.
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Research Methodology
MRFR employs its multi-layered research module to ensure the deliverance of high-quality market insights. The collaborative approach of primary and secondary research processes is utilized to carry out qualitative and quantitative analysis of historical trends, current market dynamics, growth opportunities, consumer landscape and challenges. Primary data is collected by conducting surveys and personal interviews with the key opinion maker across the value chain, which is then verified by utilizing secondary research processes that include inputs through SEC filings, paid databases, white paper references and other sources available in public domain. The collaboration of top-down and bottom-up approaches and strong data triangulation technique ensures the accuracy and objectivity of research findings.
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