Synopsis of Connected Workplace Market
Connected Workplace Market is expected to grow at CAGR of 11% during 2016 to 2022 and is expected to reach market size of USD 31 Billion by the end of 2022.
Key Players in Market:
The prominent players in the Connected Workplace Market are-
- Siemens AG (Germany)
- Koninklijke Philips N.V. (The Netherlands)
- ABB Ltd. (U.S.)
- Deloitte Pvt. Co. (U.S.)
- Schneider Electric SA (France)
- Cisco Systems, Inc. (U.S.)
- Crestron Electronics, Inc. (U.S.)
- Honeywell International, Inc. (U.S.)
- Johnson Controls Inc. (U.S.)
- United Technologies Corporation (U.S.)
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Connected workplace connects all employees to their colleagues and interlinking all tasks by effectively using cloud based applications or mobile devices. This is also supports big data analytics in organization which increases the productivity, customer interaction, thereby generating huge revenue for the firm. The growth drivers for this market include widespread availability of interactive service in the organization which helps in providing information to all the stakeholders of organization, by utilization of tablets, smartphones and laptops and flexible working spaces which help in attracting new talent for the organization. A major challenge in connected workplace is protecting the intellectual property of an organization as the information can be assessed worldwide.
Connected workplace facilitates an organization with free seating and open space arrangement which help a business in easily adopting the changing business needs. Connected workplace leverages technology which satisfies the employees of the organization, leading to high productivity and helps in maintaining quality standards. This also allows an organization to efficiently utilize their workplace investments.
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Connected Workplace Market Segmentation
The Global Connected Workplace Market has been segmented on the basis of components, types, deployment and applications. Component includes- security systems, smart lighting, HVAC control, and others. On the basis of type, the global Connected Workplace Market can be segmented into telecommuting, virtual team and hot desk among others. Connected workplace can be deployed by using on-premise, on-cloud and hybrid technology methods. The applications of connected workplace can be monitoring, building automation, energy management system, mobile device management and others.
Market Research Analysis:
Market Research Future Analysis shows that the major driver of growth of Connected Workplace Market is increasing adoption of digital innovation by employees of organization. The employees are greatly accepting the concept of bring-your own device (BYOD) which enables them to bring their own laptop or smartphone to work and connect them to the firm’s IT network. The increasing youth population in many regions which is technology savvy is also supporting in promoting the concept of connected workplace. This concept is being majorly adopted by industries such as software companies, educational institutes, consultancy providers, real estate and construction among others. Workspaces are increasingly taking advantage of intelligent building systems, allowing companies to reduce energy costs and personalizing the workspace experience for employees.
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Market Research Future Analysis shows that North America is expected to dominate the global Connected Workplace Market owing to presence of many large companies like Deloitte Pvt. Co, Crestron Electronics, United Technologies Corporation, Honeywell International, Inc. and others in the region. The increase in number of OEM operators in North America region would also contribute to the market growth. APAC region is also expected to record a huge growth rate in the forecast period due to rapid industrialization in developing economies like India, and China and is expected to fuel the Connected Workplace Market in the upcoming future.
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