Future Market Insights

Smart Office Market Projected to Garner Significant Revenues by 2027

 

Valley Cottage, NY -- (SBWIRE) -- 03/13/2018 -- Smart Office Market: Introduction

Conventionally, office spaces were operated manually to control HVAC settings, lighting, surveillance, and safety & access control. With due course of time and changing workplace environments drive advancement towards the adoption of smart office infrastructures.

The smart office systems deploy automated systems, sensors, and advanced communication infrastructure & networks, which assist in providing the centralized control and wireless data transfer for monitoring and data analysis. Advanced HVAC systems and automated lighting systems contributes the commercial places to manage energy in a better and systematic way, owing to various benefits associated with deploying smart office infrastructure the demand for smart devices for office and other commercial building spaces is projected to increase.

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Smart Office Market: Drivers and Restraints

Increasing the demand for better commercial infrastructure to motivate employees for work is the major factor driving the growth of the smart office market during the forthcoming years. Owing to increase in inclination to adopt energy saving solution at offices is the other primary factor spurring the growth of the smart office market. Also, increasing internet penetration globally is influencing the installation of better and advance infrastructure, which provides more luxury at commercial places is also contributing to scale the demand for the smart office market.

Also, increase in demand for smart lighting in commercial sectors to save energy cost is another driver for the growth of Smart Office Markets during the forecast period.

Global Smart Office Market: Market Segmentation

Global Smart Office Market can be divided into three segments, on the basis of Product, Building Type, and Region.

Segmentation on the basis of the Product of Smart Office Market as:-

The major segments of Smart Office Market on the basis of the Product include:-

Smart Lighting
Security and Access Control Systems
Audio Video Conferencing Systems
Energy Management Systems
Smart HVAC Control Systems
Fire and Safety Control Systems
Segmentation on the basis of the Building Type for Smart Office Market as:-

The major segments of Smart Office Market on the basis of the Building Type include:-

Retrofits
New Office Buildings
Global Smart Office Market: Competitive Landscape

The major player operating in Smart Office Market includes United Technologies Corporation, Koninklijke Philips, Electric SA, Honeywell International, ABB Ltd., Schneider Siemens AG, Johnson Controls, Cisco Systems, Lutron Electronics and Creston Electronics.

In October 2014, a major player in the smart office market, Schneider Electric launched the Fiber to the Home (FTTH) solution to boost the company's smart building products segment in the market. This solution aims to enhance the company's Smart & Intelligent Homes portfolio by providing better services related to lighting & room controls, home automation, building management systems, and security and surveillance systems.

Global Smart Office Market: Regional Trend

Owing to development in the commercial and industrial sectors in emerging economies such as China, India is the major reason, significantly promoting the growth of the smart office market. Also, increase in demand for better office infrastructure and to deliver good environment to the employees are the key reason driving the adoption of the Smart Office Market during the forecast period.

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In Western Europe and North America region and are dominating the smart office market, due to the availability of better technology infrastructure. Therefore, the smart office market is projected to exhibit the promising growth rate in the developed region such as Western Europe and North America region in the forthcoming years.

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