The “Smart Office Market” 2023-2031 Research Report affords qualitative and quantitative insights into the principal drivers, constraints, opportunities, and challenges influencing world markets growth. The find out about offers complete statistical market records on the leading players, as nicely as income predictions. This market lookup additionally presents statistics on the income boom of numerous regional and country-level markets, as properly as the opposition panorama and unique organization analyses for the projected period. The Smart Office Market Report covers potential improvement drivers as properly as the modern-day kingdom of market share, penetration of a number of kinds, technologies, applications, and areas thru 2031.
The global smart office market value was US$ 31.35 billion in 2020. The global smart office market is forecast to reach US$ 90.61 billion by 2030, with a growing compound annual growth rate (CAGR) of 11% during the forecast period from 2021-2030.
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Smart office technology makes tasks more efficient and flexible with the help of network-based devices. In order to plan and perform work efficiently, it makes use of technologies such as sensors, automated systems, and advanced communication structures. Smart offices offer numerous benefits, including cloud storage, schedule management, enhanced customer satisfaction, risk management, resource utilization, and high investment returns.
Factors Influencing the Market Growth
The global smart office market will grow because of several factors, including the rise of safety and security systems in the workplace, the advancement of IoT in smart office applications, and the surge in demand for sensor-based networks for energy efficiency.
The growing need for energy efficiency and supportive industry standards & regulations are the main factors impacting the demand of the global smart office market.
Data breaches and IT and network security restrictions tend to be the primary obstacle to the growth of the global smart office market.
Government initiatives to reduce energy emissions from public and old buildings are benefitting the market. For example, The General Services Administration of the United States recently signed a contract with IBM to install smart building technology in 50 of the federal government’s most energy-efficient buildings. It is driving the smart office market globally.
A release on June 8th, 2021, by the Bureau and Economic Analysis and U.S. Census Bureau reports the recovering of the U.S. market. The report also described the recovery of U.S. International Trade in July 2021.In April 2021, exports in the country reached $300 billion, an increase of $13.4 billion. In April 2021, imports amounted to $294.5 billion, increasing by $17.4 billion. COVID19 is still a significant issue for economies around the globe, as evidenced by the year-over-year decline in exports in the U.S. between April 2020 and April 2021 and the increase in imports over that same period of time. The market is clearly trying to recover. Despite this, it means there will be a direct impact on the Healthcare/ICT/Chemical industries, resulting in a large market for Smart Office Market.
Impact Analysis of COVID-19
Globally, the COVID-19 outbreak has created havoc on society and the economy. The outbreak of COVID-19 has adversely affected the global smart office market. Due to the increased number of COVID-19 cases across various countries, business and manufacturing units across these countries closed and are likely to remain closed through 2021. In addition, partial or complete supply chain disruptions have made it difficult for manufacturers to reach customers. Thus, COVID-19 has negatively affected the global smart office market.
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Regional Insights
The Asian Pacific region (APAC) is expected to grow the fastest during the forecast period. The rest of the world is likely to follow the trends. China and India, two economies in the APAC region, are experiencing a rapid rise in the internet of things (IoT) concept. Technological advancements in the market are resulting in good growth of the global smart office market during the forecast period.
According to Statista, as of 2021 data, the United States held over ~36% of the global market share for information and communication technology (ICT). With a market share of 16%, the EU ranked second, followed by 12%, China ranked third. In addition, according to forecasts, the ICT market will reach more than US$ 6 trillion in 2021 and almost US$ 7 trillion by 2023. In today’s society, continuous growth is another reminder of how ubiquitous and crucial technology has become. Over the next few years, traditional tech spending will be driven mainly by big data and analytics, mobile, social, and cloud computing.
This report analyzes the global primary production, consumption, and fastest-growing countries in the Information and Communications Technology(ICT) market. Also included in the report are prominent and prominent players in the global Information and Communications Technology Market (ICT).
Leading Competitors
The leading prominent companies in the global smart offices market are;
ABB Ltd.
Cisco Systems Inc.
Harvatek Corporation
Honeywell International Inc.
Johnson Controls International Plc
Legrand SA
Lutron Electronics Co. Inc.
Philips Lighting Holding B.V. (Signify Holding)
Schneider Electric S.E.
Siemens AG
Other Prominent Players
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Scope of the Report
The global smart office market segmentation focuses on Offering, Product Type, Connectivity Technology, End User, and Region.
Segmentation based on Offering
Software
Hardware
Service
Advisory and Consulting Services
Installation and Support Services
Managed Services
Segmentation based on Product Type
Smart Lighting/Lighting Controls
Smart Bulbs
Fixtures
Lighting Controls
LED Drivers and Ballasts
Sensors
Switches & Dimmers
Relay Units
Gateways
Security Systems
Access Controls
Biometric Systems/Biometric Readers
Card-Based Systems/Card-Based Readers
Electronic Locks
Surveillance Cameras/Video Surveillance
Fire and Safety Controls
Energy Management Systems
In-House Displays
Smart Thermostats
Load Control Switches
Smart Plugs
HVAC Control Systems
Sensors
Temperature Sensors
Humidity Sensors
Occupancy Sensors
Pressure Sensors
Flow Sensors
Other Sensors
Control Valves
Heating and Cooling Coils
Dampers
Actuators
Pumps & Fans
Smart Vents
VAV and FCU Controllers
Audio-Video Conferencing Systems
Audio, Volume, and Multimedia Rooms Controls
Video Conferencing Systems
Touch Screens & Keypads
Segmentation based on Connectivity Technology
Wireless Technologies
Wi-Fi
EnOcean
ZigBee
Bluetooth/BLE
Others
Wired Technologies
Digital Addressable Lighting Interface (DALI)
Power Line Communication (PLC)
Power Over Ethernet (PoE)
KNX
LonWorks
Building Automation & Control Network (BACnet)
Segmentation based on End-User
Commercial
Residential
Industrial
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Segmentation based on Region
North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America
What is the goal of the report?
? The market report presents the estimated size of the ICT market at the end of the forecast period. The report also examines historical and current market sizes.
? During the forecast period, the report analyzes the growth rate, market size, and market valuation.
? The report presents current trends in the industry and the future potential of the North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa markets.
? The report offers a comprehensive view of the market based on geographic scope, market segmentation, and key player financial performance
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