Smart Office Market 2019 Trends, Size, Share, Segment and Industry Growth by Forecast to 2023

The report on the global Smart Office market covers historical market trends, current market dynamics, market valuation by segmentation as well as region, country-level analysis for every segment, key player's market share analysis, competitive landscape and supply chain analysis.

Market Highlights:

The report published by Market Research Future (MRFR) states that the global smart office market is marked to expand remarkably at a CAGR of 12.16% during the forecast period of 2018-2023 and reach the market valuation of USD 46.99 Bn by the end of the forecast period from USD 23.60 Bn in the year 2017. Rise in demand for integrated safety and security systems in small to large enterprises and implementation of stringent policies to control and monitor overall energy consumption are majorly propelling the growth of the global smart office market. Rapid adoption of technologically advanced solutions and increased adoption of cloud-based solutions are also fueling the growth of the global smart office market. However, complexities related to replacing and upgrading the systems are restraining the growth of the global smart office market.

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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.

According to MRFR, The global Smart Offices Market is expected to grow from USD 23.60 billion in 2017 to USD 46.99 billion by 2023, at a compound annual growth rate (CAGR) of 12.16% during the forecast period.

Global Smart Office Market: Segmental Analysis

The global smart office market has been segmented on the basis of component and office type. Based on component, the global smart office market has been segmented into hardware, software, and service. The hardware segment has been sub-segmented into smart lighting, energy management system, security systems, smart HVAC system, and audio-video conferencing systems. The smart lighting sub-segment includes smart bulbs, fixtures, and lighting controls. The lighting controls segment has been further sub-segmented into led drivers and ballasts, relay units, switches, and gateways.

The security systems segment has been further sub-segmented into surveillance cameras/video surveillance, access controls, and fire & safety controls. The access control segment has been further segmented into card-based systems/card-based readers, biometric systems/biometric readers, and electronic locks. The energy management systems segment has been sub-segmented into in-house displays, load control switches, smart thermostats, and smart plugs. The smart HVAC control system segment has been further sub-segmented into sensors, control valves, heating & cooling coils, pumps & fans, dampers, actuators, smart vents VAV & FCU controllers.

The sensors segment has been further sub-segmented into temperature sensors, pressure sensors, humidity sensors, occupancy sensors, flow sensors, and others. The audio-video conferencing systems segment has been sub-segmented into video conferencing systems, audio, volume, & multi-media room controls, and touch screens & keypads. The services segment has been sub-segmented into advisory & consulting services, installation & support services and managed services. Based on office type, the global smart office market has been segmented into retrofit offices and new construction offices.

Global Smart Office Market: Regional Analysis

Geographically, the global smart office market has been segmented into four major regions such as North America, Asia Pacific, Europe and the rest of the world. The North America regions commands the dominant share of the global smart office market owing to the rapid adoption of advanced technology, proliferation in small to large scale organizations that are converting their premises into technologically advanced infrastructures, and presence of large number of service providers in this region. The Asia Pacific region is projecting fastest growth in the global smart office market owing to increasing demand for smart services in various industrial sectors in order to optimize the functionality of the office infrastructures in the emerging economies of this region.

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LIST OF TABLES

Table 1 Global Smart Office Market, by Region, 2018–2023

Table 2 North America: Smart Office Market, by Country, 2018–2023

Table 3 Europe: Smart Office Market, by Country, 2018–2023

Table 4 Asia-Pacific: Smart Office Market, by Country, 2018–2023

Table 5 Middle East & Africa: Smart Office Market, by Country, 2018–2023

Continued…….

LIST OF FIGURES

FIGURE 1 Global Smart Office Market Segmentation

FIGURE 2 Forecast Methodology

FIGURE 3 Porter’s Five Forces Analysis of Global Smart Office Market

FIGURE 4 Value Chain of Global Smart Office Market

Continued…….

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