Smart Office Market Size Is Expected To Reach USD 57.05 Billion By 2025


 San Francisco, 20 Nov 2020: The Report Smart Office Market Size Report By Component (Hardware, Software, Service), By Office Type (Retrofit, New Construction), By Region (North America, Europe, Asia Pacific, South America, MEA), And Segment Forecasts, 2018 - 2025

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.

Access Research Report of Smart Office Market @ https://www.grandviewresearch.com/industry-analysis/smart-office-market

Smart Office Market Report Highlights

  • 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 at: https://www.grandviewresearch.com/industry/emerging-and-next-generation-technologies

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
  • Europe
  • Asia Pacific
  • South America
  • Middle East & Africa

Access Press Release of Smart Office Market @ https://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

Comments

Post a Comment

Popular posts from this blog

U.K. Point Of Sale Software Market To Expand Industry Growth At USD 1.05 Billion By 2028

Image
  San Francisco, 21 Jan 2022:   The Report  U.K. Point Of Sale Software Market  Size, Share & Trends Analysis Report By Application (Fixed POS, Mobile POS), By Deployment, By Organization Size, By End-user, And Segment Forecasts, 2021 - 2028 The global U.K. point of sale software market size is expected to reach USD 1.05 billion by 2028, expanding at a CAGR of 8.1% from 2021 to 2028, according to the new study conducted by Grand View Research, Inc. The integration of a Point-Of-Sale (POS) solution with capabilities such as sales reports monitoring, cash flow recording, product demand analysis, tracking delivery status, and inventory management ensure systematic functioning and upscaling of a business. The adoption of POS software is directly impacted by the demand for POS terminals, which is witnessing growth in demand due to changing lifestyles and government policies. However, the COVID-19 pandemic disrupted the industry's business, wherein retail stores, restaurants, and hot
Read more

Gas Detection Equipment Market Anticipated To Expand At A CAGR 9.7% From 2021 To 2028

  San Francisco, 5 May 2021:   The Report  Gas Detection Equipment Market  Size, Share & Trends Analysis Report By Product, By Technology (Infrared, Catalytic, PID), By End-use, By Region, And Segment Forecasts, 2021 - 2028 The global gas detection equipment market size is expected to reach USD 8.38 billion by 2028, according to a new report by Grand View Research, Inc. It is anticipated to expand at a CAGR of 9.7% from 2021 to 2028. The market growth can be attributed to the growing awareness among governments regarding the harmful effects of greenhouse gases, coupled with their increased efforts toward protecting the environment. Major industries such as petroleum, oil, and gas, among others are needed to comply with safety and environmental regulations which are also major factors driving the market growth. Many companies are focused on introducing drone-based gas detection equipment, which is expected to create new opportunities for market growth in the coming years. For instan
Read more