According to Market Research Future (MRFR), the global smart workplace market is projected to reach approximately USD 47 billion by 2023. The market is set to register a CAGR of 13% of CAGR during the forecast period (2017-2023). The report provides a gist of a smart workplace, which is a solution that helps organizations adapt to a work style which comes with improved efficiency, lower costs, and flexible work environment. Employees get accustomed to the tools that allow them to share files and work together. The solution also offers integration of internet of things (IoT), big data, and other advanced analytics engine to improve their workplaces and premises. While closely tied to Smart Buildings, a noteworthy fact is that the smart workplace solution is not tied to just a building space but also to home workers, telecommuting, and work while traveling. In other words, the primary goal of the smart workplace is to bring comfort to its users coupled with other macro factors like saving energy, improving the quality of work environment, and following deadlines.
A market trend worth noting is the increasing adoption of cloud computing and artificial intelligence by enterprises, increasing productivity and mobility. For instance, in the year 2016, the Johnson & Johnson Group had transferred more than 500 terabytes of data to the Amazon Web Services (AWS), which helped the company in saving resources of the company like the infrastructure cost and administrative cost of the organization.
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Major key Players
- Siemens AG (Germany),
- Schneider Electric SA (France),
- Johnson Controls International PLC (Ireland),
- Honeywell International Inc. (U.S.),
- ABB Ltd. (Switzerland),
- Cisco Systems, Inc. (U.S.),
- United Technologies Corporation (U.S.),
- Lutron Electronics Co. Inc. (U.S.),
- Crestron Electronics, Inc. (U.S.),
- Philips Lighting Holding B.V. (Netherlands)
According MRFR, the Smart Workplace Market is growing rapidly over 13% of CAGR and is expected to reach at approx. USD 47 Billion by the end of forecast period.
Loctec, an ergonomic workspace solution provider, exhibited at the CES 2019 in Las Vegas in January 2019.
In January 2019, Microsoft announced plans to replace 13 buildings on its Redmon, Washington campus with 18 new ones having smart energy saving and monitoring capabilities.
North America is likely to dominate the global smart workplace market over the forecast period due to the growing adoption of Internet of Things technology, which has allowed easy adoption of smart solutions. The increasing adoption of Bring Your Own Device (BYOD) schemes in the corporate sector in North America is also likely to drive the smart workplace market in the region, as remote working devices need more security and connectivity solutions to enable smooth incorporation into the workflow.
Asia Pacific is likely to emerge as the fastest growing regional segment of the global smart workplace market over the forecast period due to the growing efforts to modernize the corporate sector in the region and growing government efforts to make corporate employees safer.
The global smart workplace market is segmented on the basis of product, office type, component, and communication technology.
By product, the global smart workplace market is segmented into smart lighting, security systems, energy management systems, HVAC control systems, and audio-video conferencing systems. Energy management solutions are likely to be the major contributor to the global smart workplace market over the forecast period, as energy management is emerging as a key point for regulators all over the world.
By office type, the global smart workplace market is segmented into retrofit and new construction.
By component, the global smart workplace market is segmented into software and services, with the latter being further sub-segmented into managed services, installation and support services, and consulting services.
By communication technology, the smart workplace market is segmented into wired and wireless.
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- Technology Investors
- Research/Consultancy Firms
- Original equipment manufacturers (OEMs)
- Government Bodies
- IT & Telecommunication Companies
LIST OF TABLES
TABLE 1 SMART WORKPLACE MARKET, BY COMPONENT
TABLE 2 SMART WORKPLACE MARKET, BY PRODUCT
TABLE 3 SMART WORKPLACE MARKET, BY OFFICE TYPE
TABLE 4 SMART WORKPLACE MARKET, BY COMMUNICATION TECHNOLOGY
TABLE 5 SMART WORKPLACE MARKET, BY REGIONS
TABLE 6 NORTH AMERICA SMART WORKPLACE MARKET, BY COMPONENT
LIST OF FIGURES
FIGURE 1 RESEARCH TYPE
FIGURE 2 SMART WORKPLACE MARKET, BY COMPONENT (%)
FIGURE 3 SMART WORKPLACE MARKET, BY PRODUCT (%)
FIGURE 4 SMART WORKPLACE MARKET, BY OFFICE TYPE (%)
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