The smart office market is expected to reach US$45.931 billion by the end of 2023, increasing from US$24.739 billion in 2017, growing at a CAGR of 10.86% during the forecast period. Smart offices are the offices which make use of sensors and internet of things among other things to make an office space convenient, safer and energy efficient. The major factors driving the demand for smart office solutions are its cost-effectiveness, development of smart cities around the world and improvement in the productivity of the workforce. High-income regions such as North America held a significant market share in 2017 and the APAC region will witness substantial growth over the forecast period.
This research study examines the current market trends related to the demand, supply, and sales, in addition to the recent developments. Major drivers, restraints, and opportunities have been covered to provide an exhaustive picture of the market. The analysis presents in-depth information regarding the development, trends, and industry policies and regulations implemented in each of the geographical regions. Further, the overall regulatory framework of the market has been exhaustively covered to offer stakeholders a better understanding of the key factors affecting the overall market environment.
Identification of key industry players in the industry and their revenue contribution to the overall business or relevant segment aligned to the study have been covered as a part of competitive intelligence done through extensive secondary research. Various studies and data published by industry associations, analyst reports, investor presentations, press releases and journals among others have been taken into consideration while conducting the secondary research. Both bottom-up and top down approaches have been utilized to determine the market size of the overall market and key segments. The values obtained are correlated with the primary inputs of the key stakeholders in the pressure sensors value chain. The last step involves complete market engineering which includes analyzing the data from different sources and existing proprietary datasets while using various data triangulation methods for market breakdown and forecasting.
Market intelligence is presented in the form of analysis, charts, and graphics to help the clients in gaining faster and efficient understanding of the market.
Major industry players profiled as part of the report are Schneider Electric SA, Johnson Controls, Inc., Cisco Systems, Inc., Honeywell International, Inc., and Koninklijke Philips N.V. among others.
The smart office market has been analyzed through following segments:
Smart Security Systems
By Type of Building
By End-User Industry
Media and Entertainment
Middle East and Africa