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Smart Offices Market Size By Component, By Technology, By Product, By Geographic Scope And Forecast

Apr 27th 2020 at 12:18 PM

Smart Office Market Size And Forecast

According to Verified Market Research, The Global Smart Offices Market was valued at USD 27.07 billion in 2019 and is projected to reach USD 66.60 billion by 2027, growing at a CAGR of 12.85% from 2020 to 2027.


The latest survey on Global Smart Offices Market is conducted covering various organizations of the industry from different geographies to come up with a 100+ page report. The study is a perfect mix of qualitative and quantitative information highlighting key market developments, challenges that industry and competition are facing along with gap analysis and new opportunities available and trend in the Smart Offices Market. The report aims to present the analysis of the Global Smart Offices Market By Component, By Technology, By Product, By Region – North America, Europe, South America, Asia-Pacific, Middle East, and Africa. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment evaluation. Besides, the report also identifies and analyses the emerging trends along with major drivers, challenges and opportunities.


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What is Smart Offices?

The smart office is a technology that is used in making the tasks of the organization simpler and flexible with the help of network-based devices. It comprises of various technologies such as sensors, automated systems and advanced communication structure that are required to provide efficient support for planning and performing work. The smart office offers numerous benefits such as cloud storage, schedule management, enhanced customer satisfaction, risk management, utilization of resources, high investment returns and many more. Increasing the adoption rate of the Internet of Things (IoT) has contributed to the growth of the smart office market.

Global Smart Offices Market Outlook

In the report, the market outlook section mainly encompasses the fundamental dynamics of the market which include drivers, restraints, opportunities, and challenges faced by the industry. Drivers and restraints are intrinsic factors whereas opportunities and challenges are extrinsic factors of the market.

Increasing Adoption of the cloud-based environment of IoT platforms, growing need for safety, and security systems at the workplace are driving the growth of the market. The rise in demand for smart office solutions in emerging economies is a major factor that is likely to propel the growth of the global smart office market over the forecast period. However, Issues associated with the integration of real-time streaming analytics capabilities into smart systems and issues related to the replacement of an existing system are some of the factors that may hinder the overall market at a global level. Moreover, the growing technological advancement such as developing a cloud-based environment of IoT platform is likely to provide lucrative opportunities or the market to grow over the forecast period.

Verified Market Research narrows down the available data using primary sources to validate the data and use it in compiling a full-fledged market research study. The report contains a quantitative and qualitative estimation of market elements that interests the client. The “Global Smart Offices Market” is mainly bifurcated into sub-segments which can provide classified data regarding the latest trends in the market.

Global Smart Offices Market Competitive Landscape

The “Global Smart Offices Market” study report will provide a valuable insight with an emphasis on global market including some of the major players such as Cisco Systems, Inc., ABB Ltd., Honeywell International Inc., Johnson Controls International plc, Schneider Electric SA, Siemens AG, United Technologies Corporation, Lutron Electronics Co. Inc., Crestron Electronics Inc, and Philips Lighting Holding B.V..Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share and market ranking analysis of the above-mentioned players globally.

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Smart Offices Market, By Component

• Software
• Services

Smart Offices Market, By Technology

• Wireless Technology
• Wired Technologies

Smart Offices Market, By Product

• Smart Lighting
• Security Systems
• Energy Management System
• HVAC System
• Others

Smart Offices Market, By Geographic Scope

• North America
o U.S.
o Canada
o Mexico
• Europe
o Germany
o UK
o France
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o Rest of Asia Pacific
• Rest of the World


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