Smart offices are expected to witness significant adoption of smart lights & security systems during the forecast period, owing to increasing concerns regarding retrofit and automation of corporate buildings and smart city initiatives taken by the government of different regions. However, lack of skilled labor and high security risk are some major factors, which are expected to restrain growth of the market during the forecast period. Requirements of proper knowledge and high expertise for implementation and maintenance of smart office devices are also hampering growth of the smart office market.
Market Dynamics
The global smart office market growth is attributed to rise in demand for construction industry, which is expected to increase number of building infrastructure in an innovative and cost effective way, in turn creating opportunities for the smart office solution providers. According to CMI analysis Asia Pacific commercial construction market was valued at US$ 1,341 billion in 2017, and is expected to reach US$ 2,489 billion by 2021. Moreover, various smart structure initiatives by government are expected to create lucrative opportunities for vendor in the global market. For instance, Malaysian government implemented a Green Project, which is expected to propel demand for smart infrastructure, in turn driving growth of the smart office market. The project will focuses on the enabling policy environment by providing better support to maximum adoption and implementation of the National Sustainable Consumption and Production Blueprint. It also focusses on assisting Malaysia in achieving its 11th Malaysia Plan target of 20% of selected groups of Product and services in government procurement to be green procurement by the 2020. Therefore, growing advancements in infrastructure projects and implementation of projects by government such as Smart Cities, Smart Nation, and Green Project for energy efficiency are expected to offer lucrative opportunities to the market players.
Key features of the study:
- This report provides in-depth analysis of smart office market size (US$ Million), and Compound Annual Growth Rate (CAGR %) for the forecast period (2018– 2026), considering 2017, as the base year
- It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market
- This study also provides key insights about market drivers, restraints, opportunities, new Product launches or approval, regional outlook, and competitive strategy adopted by leading players
- It profiles leading players in the global smart office market based on the following parameters – company overview, financial performance, Product portfolio, geographical presence, Smart Office market capital, key developments, strategies, and future plans
- Companies covered as part of this study include ABB Ltd., Cisco Systems, Inc., Crestron Electronics, Inc., Honeywell International Inc., Johnson Controls International PLC, Lutron Electronics Co. Inc., Philips Lighting Holding B.V., Miracle Group Inc., Siemens AG, Schneider Electric SA, Sensorsuite Inc., and United Technologies Corporation.
- Insights from this report would allow marketers and the management authorities of the companies to make informed decision regarding their future Product launches, Product upgrades, market expansion, and marketing tactics
- The global smart office market report caters to various stakeholders in this industry including investors, suppliers, manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global smart office market.
Detailed Segmentation:
- Global Smart Office Market, By Component:
- Software
- Hardware
- Services
- Global Smart Office Market, By Product Type:
- Smart Light
- Security Systems
- Energy Management Systems
- Audio-Video Conferencing Systems
- Global Smart Office Market, By Office Type:
- Retrofit Office
- New Construction Office
- Global Smart Office Market, By Geography:
- North America
- By Component:
- Software
- Hardware
- Services
- By Product Type:
- Smart Light
- Security Systems
- Energy Management Systems
- Audio-Video Conferencing Systems
- By Office Type:
- Retrofit Office
- New Construction Office
- By Country:
- Europe
- By Component:
- Software
- Hardware
- Services
- By Product Type:
- Smart Light
- Security Systems
- Energy Management Systems
- Audio-Video Conferencing Systems
- By Office Type:
- Retrofit Office
- New Construction Office
- By Country:
- UK
- Germany
- Italy
- France
- Russia
- Rest of Europe
- Asia Pacific
- By Component:
- Software
- Hardware
- Services
- By Product Type:
- Smart Light
- Security Systems
- Energy Management Systems
- Audio-Video Conferencing Systems
- By Office Type:
- Retrofit Office
- New Construction Office
- By Country:
- China
- Singapore
- Japan
- Rest of Asia Pacific
- LAMEA
- By Component:
- Software
- Hardware
- Services
- By Product Type:
- Smart Light
- Security Systems
- Energy Management Systems
- Audio-Video Conferencing Systems
- By Office Type:
- Retrofit Office
- New Construction Office
- By Sub-region:
- Latin America
- Middle East
- Africa
- Company Profiles
- ABB Ltd*
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/ Updates
- Cisco Systems, Inc.
- Crestron Electronics, Inc.
- Honeywell International Inc.
- Johnson Controls International PLC
- Lutron Electronics Co. Inc.
- Philips Lighting Holding B.V.
- Miracle Group Inc.
- Siemens AG
- Schneider Electric SA
- Sensorsuite Inc.
- United Technologies Corporation
- Others
“*” marked represents similar segmentation in other categories in the respective section.
