Posted By TMR Research Insights
Posted on October 8, 2021
The global smart workplace market is anticipated to cross a value of US$ 121 Bn by 2030. The smart workplace market is projected to expand at a CAGR of ~17% from 2020 to 2030, in terms of revenue. The growth of the smart workplace market is due to the growing adoption of energy efficient systems in commercial buildings and increasing demand for cloud-based applications across enterprises. During the forecast period, North America is anticipated to emerge as the leading smart workplace market, followed by Europe and Asia Pacific.
Increasing Adoption of Cloud-based Technologies
Cloud transformation has impacted the workplace across the world. Adoption of Software-as-a-Service (SaaS) and rise in mobile devices have increased the adoption of cloud technology in the workplace, which in turn has advanced the workforce too. Cloud-connected applications have greatly impacted the workplace across small & medium, and large enterprises, enabling today’s workforce to collaborate, access information, and complete tasks. Demand for cloud-based workforce management systems is increasing worldwide. Cloud-based smart workplace software and solution services provide better access, which can also be accessed by mobile devices. This, in turn, is accelerating the growth of the smart workplace market.
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Smart Workplace: Market Segmentation
The global smart workplace market has been segmented in terms of system, solution, and region. Based on system, the market has been classified into access control, video conferencing system, and HVAC control system. Based on solution, the smart workplace market has been bifurcated into software and services. Furthermore, the services segment has been split to managed and professional.
Smart Workplace Market: Regional Outlook
In terms of region, the global smart workplace market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America is anticipated to dominate the smart workplace market during the forecast period. The U.S. is estimated to hold a notable share of the smart workplace market in North America and the market in the country is projected to expand at a CAGR of 17.7 % during the forecast period. The maximum number of enterprises within North America is based in the U.S. Asia Pacific held a substantial share of the global smart workplace market in 2019 with China, India, and Japan, which are the major markets in the region. The smart workplace market in Europe, Middle East & Africa, and South America is also projected to expand moderately during the forecast period.
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The report provides in-depth segment analysis of the global smart workplace market, thereby providing valuable insights at macro as well as micro levels. The analysis of major countries, which hold growth opportunities or account for a significant share has also been included as part of geographic analysis of the smart workplace market.
Smart Workplace Market: Competition Dynamics
The research study includes profiles of leading companies operating in the global smart workplace market. Key players profiled in the report include Schneider Electric SE, Samsung Electronics Co., Ltd, Atos SE, Honeywell International Inc., Fujitsu Ltd, Siemens AG, Hewlett Packard Enterprise Company, Environmental Systems Research Institute (ESRI) Inc., Crestron Electronics, Inc., ABB Ltd., Johnson Controls International plc, IBM Corporation, Google LLC, Cisco Systems, Inc., Microsoft Corporation, CBRE Group, Inc., Silicus Technologies, LLC, Teem Technologies, LLC, WRLD3D Limited, and Martela.
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