San Francisco, Oct 03 The
global smart
office market size is expected to reach USD 57.05 billion by 2025,
according to a new report by Grand View Research, Inc., registering a CAGR of
13.2% over the forecast period. Organizations are constantly evolving due to
changing workforce demographics and technological expectations of modern
employees and employers. As a result, a large number of organizations across
the globe are anticipated to shift toward smart offices. Rising concerns
regarding energy consumption are also likely to augment the market.
Growing
adoption of Internet of Things (IoT) is estimated to stoke the growth of the
market as IoT enables inter-networking of physical devices through actuators,
sensors, network connectivity, and software. Employers are able to improve
employee productivity while increasing flexibility of work environment with
better connectivity. However, concerns associated with privacyandmalicious
attacks are poised to inhibit the growth of the market.
Energy
management systems (EMS) offer advantages such as measuring energy efficiency
improvements, analyzing energy data for better decision-making, and
optimization of energy consumption. Audio-video conferencing systems help
reduce travelling time and costs by providing a platform to share and
collaborate ideas from remote locations. Surging demand for these hardware
systems is projected to provide a fillip to the overall market.
Rising
popularity of smart office technology is motivating manufacturers to invest in
research and development activities for creating cost-effective, reliable, and
improved products. Manufacturers are pouring substantial funds into development
of new products for providing better user experience, which is expected to
trigger the growth of the market.
Browse full research report on Smart Office Market:
www.grandviewresearch.com/industry-analysis/smart-office-market
Further key findings from the study suggest:
- Smart office
technology enhances experience of employees in terms of integration,
intelligence, and intuitiveness
- By component,
the service segment is likely to post the highest CAGR of 15.0% over the
forecast period
- The retrofit
segment dominated the market in 2016, with a valuation of USD 14.30
billion. The segment will retain its lead position through 2025
- The North
American region accounted for the largest share of just over 55 % in 2016
- Key industry
participants include ABB Ltd. (Switzerland); Honeywell International, Inc.
(U.S.); Johnson Controls (U.S.); Schneider Electric (France); and Siemens
AG (Germany).
Browse more reports of this category
by Grand View Research: www.grandviewresearch.com/industry/technology
Grand
View Research has segmented the global smart office market based on component,
office type, and region:
Smart
Office Component Outlook (Revenue, USD Million, 2014 - 2025)
- Hardware
- Security
Systems & Controls
- Smart
Lighting & Controls
- Energy
Management Systems
- HVAC Control
Systems
- Audio-Video
Conferencing Systems
- Software
- Service
Smart
Office Type Outlook (Revenue, USD Million, 2014 - 2025)
- Retrofit
- New
Construction
Smart
Office Regional Outlook (Revenue, USD Million, 2014 - 2025)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- Asia Pacific
- China
- Japan
- India
- South America
- Brazil
- Middle East
& Africa
Browse press release of this report
by Grand View Research: www.grandviewresearch.com/press-release/global-smart-office-market
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
For more information:
www.grandviewresearch.com
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