Smart Office Market
Smart Office Market Size, Share & Trends Analysis Report by Offering (Hardware, Software, and Service), by Product Type (Smart Lighting, Security and Access Control Systems, Energy Management Systems, HVAC Control Systems, Audio–Video Conferencing Systems, and Fire and Safety Control Systems), and by Communication Technology (Wireless Technologies, and Wired Technologies) Forecast Period (2022-2028) Update Available - Forecast 2024-2030
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.
Segmental Outlook
The global smart office market is segmented based on the offering, product type, and communication technology. Based on the offering, the market is segmented into hardware, software, and service. Based on the product type the market is categorized into smart lighting, security and access control systems, energy management systems, HVAC control systems, audio–video conferencing systems, and fire and safety control systems. Further, based on communication technology, the market is segmented into wireless technologies and wired technologies. Among the communication technology segment, wireless technologies are witnessing the fastest growth in the market over the forecast period owing to the growing application of Wi-Fi and Bluetooth as a wireless connectivity solution in various sectors such as consumer and enterprise.
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.
Regional Outlooks
The global smart office market is further segmented based on geography including North America (the US, and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East &Africa, and Latin America). The market can be analyzed for a particular region or country level as per the requirement. Among these, the North American regional market is expected to cater to prominent growth over the forecast period. However, the Asia-Pacific region is projected to experience considerable growth in the smart office market.
Global Smart Office Market Growth, by Region 2022-2028
North America is Expected to Hold Prominent Share in the Global Smart Office Market
Among all the regions, North America is expected to hold a prominent share in the global smart office market owing to the accessibility of better technology infrastructure coupled with the rapid adoption of technological development in the IoT field. Hence, the key market players are also inclined toward launching new products to cater to rising demand. For instance, in September 2022, TD SYNNEX launched IAconnects MobiusFlow Click-to-Run on Azure, which simplifies the complex process of configuring a solution that provides hardware, software, and infrastructure to manage smart buildings.
Market Players Outlook
The major companies serving the global smart office market include Crestron Electronics Inc., Johnson Controls, Lutron Electronics Co., Inc., Schneider Electric, Signify Netherlands B.V. (PHILIPS), and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in 2022, Omantel introduced its smart office solutions during COMEX in partnership with Huawei for the first time in Oman. Through the partnership, the company brings advanced ICT tools and solutions to Oman that will transform the collaboration among individuals, SMEs, and enterprises.
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.
1. Report Summary
• Current Industry Analysis and Growth Potential Outlook
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segmentation
1.2.2. By Region
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendation
2.2.3. Conclusion
3. Competitive Landscape
3.1. Key Company Analysis
3.2. Crestron Electronics Inc.
3.2.1. Overview
3.2.2. Financial Analysis
3.2.3. SWOT Analysis
3.2.4. Recent Development
3.3. Johnson Controls
3.3.1. Overview
3.3.2. Financial Analysis
3.3.3. SWOT Analysis
3.3.4. Recent Development
3.4. Lutron Electronics Co., Inc.
3.4.1. Overview
3.4.2. Financial Analysis
3.4.3. SWOT Analysis
3.4.4. Recent Development
3.5. Schneider Electric
3.5.1. Overview
3.5.2. Financial Analysis
3.5.3. SWOT Analysis
3.5.4. Recent Development
3.6. Signify Netherlands B.V. (PHILIPS)
3.6.1. Overview
3.6.2. Financial Analysis
3.6.3. SWOT Analysis
3.6.4. Recent Development
3.7. Key Strategy Analysis
4. Market Segmentation
4.1. Global Smart Office Market by Offering
4.1.1. Hardware
4.1.2. Software
4.1.3. Service
4.2. Global Smart Office Market by Product Type
4.2.1. Smart Lighting
4.2.2. Security and Access Control Systems
4.2.3. Energy Management Systems
4.2.4. HVAC Control Systems
4.2.5. Audio–Video Conferencing Systems
4.2.6. Fire and Safety Control Systems
4.3. Global Smart Office Market by Communication Technology
4.3.1. Wireless Technologies
4.3.2. Wired Technologies
5. Regional Analysis
5.1. North America
5.1.1. United States
5.1.2. Canada
5.2. Europe
5.2.1. UK
5.2.2. Germany
5.2.3. Italy
5.2.4. Spain
5.2.5. France
5.2.6. Rest of Europe
5.3. Asia-Pacific
5.3.1. China
5.3.2. India
5.3.3. Japan
5.3.4. South Korea
5.3.5. Rest of Asia-Pacific
5.4. Rest of the World
6. Company Profiles
6.1. Allegion Plc.
6.2. Avnet, Inc.
6.3. Barco NV
6.4. Cisco Systems, Inc.
6.5. CLP Holdings Ltd.
6.6. Digicom Office Technology Ltd.
6.7. Enlighted, Inc (Simens)
6.8. Firstouch Digital Solutions
6.9. Honeywell International Inc.
6.10. Kisi Inc.
6.11. Logitech
6.12. Micronova IT Solutions
6.13. PLANTRONICS, INC.
6.14. SensorSuite Inc.
6.15. SimpliSafe, Inc.
6.16. Smart Office Solutions
6.17. TeleGroup
1. GLOBAL SMART OFFICE MARKET RESEARCH AND ANALYSIS BY OFFERING, 2021-2028 ($ MILLION)
2. GLOBAL HARDWARE FOR SMART OFFICE MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
3. GLOBAL SOFTWARE FOR SMART OFFICE MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
4. GLOBAL SERVICE FOR SMART OFFICE MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
5. GLOBAL SMART OFFICE MARKET RESEARCH AND ANALYSIS BY PRODUCT TYPE, 2021-2028 ($ MILLION)
6. GLOBAL SMART OFFICE LIGHTING MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
7. GLOBAL SMART OFFICE SECURITY AND ACCESS CONTROL SYSTEMS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
8. GLOBAL SMART OFFICE ENERGY MANAGEMENT SYSTEMS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
9. GLOBAL SMART OFFICE HVAC CONTROL SYSTEMS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
10. GLOBAL SMART OFFICE AUDIO–VIDEO CONFERENCING SYSTEMS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
11. GLOBAL SMART OFFICE FIRE AND SAFETY CONTROL SYSTEMS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
12. GLOBAL SMART OFFICE MARKET RESEARCH AND ANALYSIS BY COMMUNICATION TECHNOLOGY, 2021-2028 ($ MILLION)
13. GLOBAL SMART OFFICE BY WIRELESS TECHNOLOGIES MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
14. GLOBAL SMART OFFICE BY WIRED TECHNOLOGIES MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
15. GLOBAL SMART OFFICE MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
16. NORTH AMERICAN SMART OFFICE MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
17. NORTH AMERICAN SMART OFFICE MARKET RESEARCH AND ANALYSIS BY OFFERING, 2021-2028 ($ MILLION)
18. NORTH AMERICAN SMART OFFICE MARKET RESEARCH AND ANALYSIS BY PRODUCT TYPE, 2021-2028 ($ MILLION)
19. NORTH AMERICAN SMART OFFICE MARKET RESEARCH AND ANALYSIS BY COMMUNICATION TECHNOLOGY, 2021-2028 ($ MILLION)
20. EUROPEAN SMART OFFICE MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
21. EUROPEAN SMART OFFICE MARKET RESEARCH AND ANALYSIS BY OFFERING, 2021-2028 ($ MILLION)
22. EUROPEAN SMART OFFICE MARKET RESEARCH AND ANALYSIS BY PRODUCT TYPE, 2021-2028 ($ MILLION)
23. EUROPEAN SMART OFFICE MARKET RESEARCH AND ANALYSIS BY COMMUNICATION TECHNOLOGY, 2021-2028 ($ MILLION)
24. ASIA-PACIFIC SMART OFFICE MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
25. ASIA-PACIFIC SMART OFFICE MARKET RESEARCH AND ANALYSIS BY OFFERING, 2021-2028 ($ MILLION)
26. ASIA-PACIFIC SMART OFFICE MARKET RESEARCH AND ANALYSIS BY PRODUCT TYPE, 2021-2028 ($ MILLION)
27. ASIA-PACIFIC SMART OFFICE MARKET RESEARCH AND ANALYSIS BY COMMUNICATION TECHNOLOGY, 2021-2028 ($ MILLION)
28. REST OF THE WORLD SMART OFFICE MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
29. REST OF THE WORLD SMART OFFICE MARKET RESEARCH AND ANALYSIS BY OFFERING, 2021-2028 ($ MILLION)
30. REST OF THE WORLD SMART OFFICE MARKET RESEARCH AND ANALYSIS BY PRODUCT TYPE, 2021-2028 ($ MILLION)
31. REST OF THE WORLD SMART OFFICE MARKET RESEARCH AND ANALYSIS BY COMMUNICATION TECHNOLOGY, 2021-2028 ($ MILLION)
1. GLOBAL SMART OFFICE MARKET SHARE BY OFFERING, 2021 VS 2028 (%)
2. GLOBAL HARDWARE FOR SMART OFFICE MARKET SHARE BY REGION, 2021 VS 2028 (%)
3. GLOBAL SOFTWARE FOR SMART OFFICE MARKET SHARE BY REGION, 2021 VS 2028 (%)
4. GLOBAL SERVICE FOR SMART OFFICE MARKET SHARE BY REGION, 2021 VS 2028 (%)
5. GLOBAL SMART OFFICE MARKET SHARE BY PRODUCT TYPE, 2021 VS 2028 (%)
6. GLOBAL SMART OFFICE LIGHTING MARKET SHARE BY REGION, 2021 VS 2028 (%)
7. GLOBAL SMART OFFICE SECURITY AND ACCESS CONTROL SYSTEMS MARKET SHARE BY REGION, 2021 VS 2028 (%)
8. GLOBAL SMART OFFICE ENERGY MANAGEMENT SYSTEMS MARKET SHARE BY REGION, 2021 VS 2028 (%)
9. GLOBAL SMART OFFICE HVAC CONTROL SYSTEMS MARKET SHARE BY REGION, 2021 VS 2028 (%)
10. GLOBAL SMART OFFICE AUDIO–VIDEO CONFERENCING SYSTEMS MARKET SHARE BY REGION, 2021 VS 2028 (%)
11. GLOBAL SMART OFFICE FIRE AND SAFETY CONTROL SYSTEMS MARKET SHARE BY REGION, 2021 VS 2028 (%)
12. GLOBAL SMART OFFICE MARKET SHARE BY COMMUNICATION TECHNOLOGY, 2021 VS 2028 (%)
13. GLOBAL SMART OFFICE BY WIRELESS TECHNOLOGIES MARKET SHARE BY REGION, 2021 VS 2028 (%)
14. GLOBAL SMART OFFICE BY WIRED TECHNOLOGIES MARKET SHARE BY REGION, 2021 VS 2028 (%)
15. GLOBAL SMART OFFICE MARKET SHARE BY REGION, 2021 VS 2028 (%)
16. US SMART OFFICE MARKET SIZE, 2021-2028 ($ MILLION)
17. CANADA SMART OFFICE MARKET SIZE, 2021-2028 ($ MILLION)
18. UK SMART OFFICE MARKET SIZE, 2021-2028 ($ MILLION)
19. FRANCE SMART OFFICE MARKET SIZE, 2021-2028 ($ MILLION)
20. GERMANY SMART OFFICE MARKET SIZE, 2021-2028 ($ MILLION)
21. ITALY SMART OFFICE MARKET SIZE, 2021-2028 ($ MILLION)
22. SPAIN SMART OFFICE MARKET SIZE, 2021-2028 ($ MILLION)
23. REST OF EUROPE SMART OFFICE MARKET SIZE, 2021-2028 ($ MILLION)
24. INDIA SMART OFFICE MARKET SIZE, 2021-2028 ($ MILLION)
25. CHINA SMART OFFICE MARKET SIZE, 2021-2028 ($ MILLION)
26. JAPAN SMART OFFICE MARKET SIZE, 2021-2028 ($ MILLION)
27. SOUTH KOREA SMART OFFICE MARKET SIZE, 2021-2028 ($ MILLION)
28. REST OF ASIA-PACIFIC SMART OFFICE MARKET SIZE, 2021-2028 ($ MILLION)
29. REST OF THE WORLD SMART OFFICE MARKET SIZE, 2021-2028 ($ MILLION)
