Smart Workplace Market is expected to grow at a CAGR of 14.12% during the forecast period to reach US$ 71.31 Bn. by 2029.
Smart Workplace Market Overview
The "Smart Workplace Market” analysis is a specialized and extensive examination of the Smart Workplace market, with a particular emphasis on global market trends and analysis. The purpose of the report is to give an overview of the Smart Workplace market, as well as extensive market segmentation by type, end-user, and geography of the region. During the predicted period, the Smart Workplace market is expected to develop rapidly. The research provides important information on the market position of the Smart Workplace market major players, as well as significant market trends and opportunities.
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Smart Workplace Market Scope
The report includes a SWOT analysis to assess the Smart Workplace market strengths and weaknesses. The research analyst conducts thorough research of the Smart Workplace Market size, share, trends, total earnings, gross revenue, and profit margin to precisely anticipate the market and give professional insights to investors to keep them up to speed on market developments.
The report on Smart Workplace Market offers a thorough analysis of the industry that is equipped with a major key finding that includes major market drivers, opportunities, challenges, and growth rate of the Smart Workplace market. The report acts as a guide for investors in the industry. The report provides the size of the Smart Workplace Market and Compound Annual Growth Rate for the forecast period (2022 to 2029).
Segmentation
The smart lighting/lighting control sector, which led the market in terms of products in 2021, is anticipated to rise quickly at a CAGR of xx% throughout the course of the forecast period. The market's expansion is driven to the increasing use of indoor and outdoor smart lighting technologies in various businesses for effective energy use. The market is expanding as a result of the integration of lighting solutions with smart appliances, rising use of lighting management systems in offices, rising use of energy-efficient LED lights, and rising preference for energy-efficient lighting solutions. On the other hand, the energy management system market is anticipated to expand quickly, with a CAGR of xx% over the forecast period. Solutions for managing energy use in businesses are offered by the energy management system.
In terms of communication technology, the wireless market is anticipated to expand quickly, with a CAGR of xx% over the projection period. The market is expanding as a result of increased IoT device adoption in offices and rising demand for remote control of smart home equipment like smart lighting. Throughout the projected period, the market is anticipated to expand more quickly due to rising trends and increased usage of voice assistance kits like Cortana, Alexa, Siri, and others to manage smart lighting. In order to automate straightforward administrative chores, research indicates that 62% of organisations anticipate using virtual voice assistants into their business processes in the upcoming years.
According to region, North America dominated the market in 2021 and is anticipated to keep doing so at a CAGR of xx% throughout the course of the projected period. The market expansion in the region is largely attributed to the US and Canada. The expansion is due to the rising use of smart workplaces in newly constructed offices and to changes in the workplace that are being made to boost corporate efficiency. Growing need for safety education and preventive programmes for offices is propelling market expansion in the NA region.
Key Players
• Schneider Electric SA
• Johnson Controls International PLC
• Honeywell International Inc
• ABB Ltd
• Cisco Systems, Inc
• United Technologies Corporation
• Lutron Electronics Co. Inc
• Enlighted, Inc
• FogHorn Systems
• IBM
• Siemens
• Atos
• Accenture
• Zensar
• Phillips Lighting Holding
• Infosys
• Crestron Electronics, Inc.
• Kronos Incorporated
• Reflexis Systems, Inc.
Regional Analysis
The Smart Workplace market research provides the market area, which is further divided into sub-regions and countries. This section of the report contains information on profit forecasts as well as market share in each country. This part of the report discusses each region, country, and sub-market region's share and growth rate over the estimated time.
The report provides a PESTLE analysis for all five regions namely North America, Europe, Asia Pacific, Middle East, Africa, and South America for the Smart Workplace market.
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Mar 06, 2023
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