Smart office market is anticipated to grow at a considerable CAGR of 12.6% during the forecast period. The rising need for safety & security systems at the workplace is one of the major factors driving the growth of the global smart office market and is anticipated to rise at a considerably high rate over the forecast period. Changing workplace environments and complexity globally increase the need for the development and availability of integrated security and safety systems amongst various businesses and enterprises. According to Government Digital Service (GDS), in the year 2020, almost half of businesses (46%) and a quarter of charities (26%) report having cyber security breaches or attacks in the last 12 months. This is higher among medium and large businesses and high-income charities. This increases the concerns among enterprises about security due to which security has become an important consideration among businesses and enterprises. Businesses are gradually realizing the importance and significance of cyber security and how it can be prevented. Smart Office offers wireless integration of various components which offers enterprises the ability to automate office security systems. Leading smart office market manufacturers, such as Honeywell International Inc., Johnson Controls, Cisco Systems, Inc., and Siemens AG, are focusing on their investment in advanced and secure products & solutions for workplace applications.
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Among the product type segment, the energy management systems are anticipated to cater to prominent growth owing to increasing corporate efforts towards the adoption of energy-saving solutions at offices as a part of their corporate social responsibility. With the rising concern regarding energy efficiency and the need for minimizing power consumption and overall costs, enterprises are rapidly inclining toward modern energy solutions. Owing to the demand, companies are well positioning their product to bring widespread connectivity and to help enterprises to reduce their carbon footprint. For instance, in 2022, Honeywell launched an energy-management-as-a-service offering that allows companies to fully account for carbon emissions down to a device level. The carbon and energy management solution is a cloud-based service to help building owners optimize energy use and carbon emissions and eventually, achieve sustainability all over the enterprise. The system uses smart meters, sensors, and utility data to segment actual consumption and emissions by type of utility and then analyses that data along with factors like occupancy, weather, and real-time utility rates.
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- Market Coverage
- Market number available for – 2023-2029
- Base year- 2022
- Forecast period- 2023-2029
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Smart Office Market Report Segment
By Offering
- Hardware
- Software
- Service
By Product Type
- Smart Lighting
- Security and Access Control Systems
- Energy Management Systems
- HVAC Control Systems
- Audio–Video Conferencing Systems
- Fire and Safety Control Systems
By Communication Technology
- Wireless Technologies
- Wired Technologies
Smart Office Market Report Segment by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East & Africa
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global smart office market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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