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The Global Smart Office Market was valued at USD 18.96 billion in 2016 and is projected to reach USD 56.28 billion by 2025, growing at a CAGR of 12.85% from 2017 to 2025.
Smart Office is defined as the integration of technology into a physical office space where the organization's tasks are made simpler and flexible with the use of network based devices. Smart Office solution provides the organization with several benefits including - schedule management, analytics, cooperative communication, cloud storage, accurate time management, high returns on investments, automation, greater customer satisfaction, risk management, identity management, resource utilization, and provide connected integrated systems.
1. Market Drivers
1.1 Adoption of cloud-based environment of IoT platforms
1.2 Helping government regulations
1.3 Emergence of IoT for smart office solutions
1.4 Increasing need for safety and security systems at workplace
1.5 Rising demand for smart office solutions
2. Market Restraints
2.1 Issues with the integration of real-time streaming analytics capabilities into smart systems
2.2 Issues with the replacement of existing system
The Global Smart Office Market is segmented on the office type, component, product, and region.
1. Office Type:
1.1 New Construction Offices
1.2 Retrofit Offices
2. By Component:
2.2.1 Managed services
2.2.2 Professional services
220.127.116.11 Support and maintenance services
18.104.22.168 Consulting services
3. By Product:
3.1 Energy Management Systems
3.1.1 Smart Plugs
3.1.2 Smart Thermostats
3.1.3 In-House Displays
3.1.4 Load Control Switches
3.2 HVAC Control Systems
3.2.1 Smart Vents
3.2.2 VAV and FCU Controllers
3.2.5 Control Valves
3.2.6 Heating and Cooling Coils
3.2.7 Pumps & Fans
3.2.9 Temperature Sensors
22.214.171.124 Humidity Sensors
126.96.36.199 Occupancy Sensors
188.8.131.52 Pressure Sensors
184.108.40.206 Flow Sensors
220.127.116.11 Other Sensors
3.3 Audio-Video Conferencing Systems
3.3.1 Video Conferencing Systems
3.3.2 Touch Screens & Keypads
3.3.3 Audio, Volume, and Multimedia Rooms Controls
3.4 Security Systems
3.4.1 Surveillance Cameras/Video Surveillance
3.4.2 Fire and Safety Controls
3.4.3 Access Controls
18.104.22.168 Electronic Locks
22.214.171.124 Biometric Systems/Biometric Readers
126.96.36.199 Card-Based Systems/Card-Based Readers
3.5 Smart Lighting and Controls
3.5.1 Smart Bulbs
3.5.3 Lighting Controls
188.8.131.52 Relay Units
184.108.40.206 LED Drivers and Ballasts
220.127.116.11 Switches & Dimmers
4. By Region:
4.1 North America (U.S., Canada, Mexico)
4.2 Europe (Germany, UK, France, Rest of Europe)
4.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
4.4 Latin America (Brazil, Argentina, Rest of Latin America)
4.5 Middle East & Africa
The major players in the market are as follows:
1. Schneider Electric SA
2. Honeywell International Inc.
3. ABB Ltd.
4. Siemens AG
5. Philips Lighting Holding B.V.
6. Crestron Electronics, Inc.
7. Johnson Controls International PLC
8. Lutron Electronics Co. Inc
9. Cisco Systems, Inc.
10. United Technologies Corporation
11. Enlighted, Inc.
12. Foghorn Systems
13. Sensorsuite Inc.
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
RESEARCH METHODOLOGY OF VERIFIED MARKET INTELLIGENCE:
Research study on the Global Smart Office Market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
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