The global Smart Office market is projected to reach $ 90.63 billion by 2030, growing at a CAGR of 11.1%
One of the major factor driving the smart office market growth is rising demand for enhanced infrastructure to motivate the employees because of their increasing inclination towards adoption of energy saving solutions at office premises. Furthermore, growing global internet penetration is attracting the installation of better as well as advance infrastructure that provides enabling more comfort at commercial workplaces. This is another major factor expected to fuel the demand for the smart office market in upcoming years. Moreover, growing demand for smart lighting in commercial segments in order to save cost of energy is another factor impelling the Smart Office Market growth over the forecast spell.
The global market of smart office has been segmented by different product, building type and geography. Further, product segment of the market is bifurcated into security & access control systems, smart lighting, audio video conferencing systems, smart HVAC control systems, energy management systems and fire & safety control systems. Likewise, building type segment of the smart office market is sub-segmented into retrofits and new office buildings.
Geographically, the global smart office market is segregated into several key regions covering North America, Europe, Asia Pacific, South America and Middle East & Africa. Asia pacific region will likely be fastest-growing market, trailed by Rest of the World over the forecast spell. Moreover, growth of the region is attributed to rapid adoption of Internet of Things (IoT) in several emerging economies such as China and India.
The market of smart office across the world is highly fragmented as well as competitive with large number of prominent players in it. Some of the key player operating within the competitive edge of the Smart Office industry across the globe include Koninklijke Philips, United Technologies Corporation, Electric SA, ABB Ltd., Honeywell International, Schneider Siemens AG, Cisco Systems, Johnson Controls, Lutron Electronics and Creston Electronics among others.
Smart Office Market Scope
|Revenue forecast in 2030
|$ 90.63 billion
|CAGR of 11.1 % during 2020-2030
|By Technology, Office Type, Regions
|North America, Europe, Asia Pacific, South America, Middle East and Africa
|Key Players Profiled
|Siemens, Schneider Electric, Johnson Controls., Honeywell International Inc, ABB, Cisco India Ltd., United Technologies Corporation; Lutron Electronics Co., Inc, Crestron Electronics, Inc., Signify Holding., SensorSuite Inc., Enlighted, Inc, Komstadt Systems Limited, Tata Teleservices Ltd., Coor Service Management, Senion AB, König + Neurath AG, Smart Technologies, Avada among other domestic
Key segments of the global smart office market include:
- Product segment of Smart Office Market:
- Smart Lighting
- Security & Access Control Systems
- Audio Video Conferencing Systems
- Energy Management Systems
- Smart HVAC Control Systems
- Fire & Safety Control Systems
- Building Type segment of Smart Office Market:
- New Office Buildings
- Geographical Segmentation of Smart Office Market
- North America
- Asia Pacific
- South America
- Middle East & Africa