Smart Office Market Scope and Size by 2031
A Smart office aims to make the operations and tasks of the company flexible and simpler with the support of network based devices. It involves various kind of technologies like automated systems, sensors and advanced communication structure that are needed for providing efficient support for planning and execution. Smart offices provide several benefits like schedule management, cloud storage, risk management, enhanced customer satisfaction and many more. Smart Office market is expected to grow significantly in the near future.
MARKET SCOPE
The "Global Smart Office Market Analysis to 2031" is a specialized and in-depth study of the technology, media and telecommunication industry with a special focus on the global market trend analysis. The report aims to provide an overview of the smart office market with detailed market segmentation by components, product and geography. The report provides key statistics on the market status of the leading smart office market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on components, the global smart office market is segmented into hardware, software and service.
- On the basis of product, the market is segmented into smart lighting, security system, energy management system, HVAC control system and audio-video conferencing system.
MARKET DYNAMICS
Drivers:
- Surging consumption of vinegar as a preservative and flavouring agent.
- Rising urbanization and increasing per capita disposable income to boost market growth of vinegar.
- Vinegar is used as an essential ingredient in several cuisines due to which it is gaining demand across the globe. Rising trend of gourmet cooking is boosting the consumption of vinegar as a food dressing.
- New market players are entering the market owing to the easy availability of raw materials and low capital requirement.
Restraints
- Unorganized retail sector in few developing countries
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The smart office market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the smart office market in these regions.
IMPACT OF COVID-19 ON SMART OFFICE MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. As many construction and renovation activities are halted due the outbreak of this pandemic, demand for smart office equipment has declined significantly. This market is expected to grow once the situation gets back to normal.
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- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
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The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The smart office market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the smart office market in these regions.
IMPACT OF COVID-19 ON SMART OFFICE MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. As many construction and renovation activities are halted due the outbreak of this pandemic, demand for smart office equipment has declined significantly. This market is expected to grow once the situation gets back to normal.
MARKET PLAYERS
The report covers key developments in the smart office market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from smart office market are anticipated to lucrative growth opportunities in the future with the rising demand for smart office in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the smart office market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- ABB Ltd.
- Cisco Systems Inc.
- Crestron Electronics Inc.
- Honeywell International
- Johnson Controls
- Lutron Electronics Co. Inc.
- Schneider Electric SE
- Siemens AG
- Signify Holding(Philips Lighting)
- United Technologies Corporation
The Insight Partner’s dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Smart Office Market - By Components
1.3.2 Smart Office Market - By Product
1.3.3 Smart Office Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. SMART OFFICE MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PORTER’S FIVE FORCES ANALYSIS
4.2.1 Bargaining Power of Buyers
4.2.1 Bargaining Power of Suppliers
4.2.1 Threat of Substitute
4.2.1 Threat of New Entrants
4.2.1 Competitive Rivalry
4.3. ECOSYSTEM ANALYSIS
4.4. EXPERT OPINIONS
5. SMART OFFICE MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6. SMART OFFICE MARKET - GLOBAL MARKET ANALYSIS
6.1. SMART OFFICE - GLOBAL MARKET OVERVIEW
6.2. SMART OFFICE - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. SMART OFFICE MARKET - REVENUE AND FORECASTS TO 2028 - COMPONENTS
7.1. OVERVIEW
7.2. COMPONENTS MARKET FORECASTS AND ANALYSIS
7.3. HARDWARE
7.3.1. Overview
7.3.2. Hardware Market Forecast and Analysis
7.3.3. Security Systems and Control Market
7.3.3.1. Overview
7.3.3.2. Security Systems and Control Market Forecast and Analysis
7.3.4. Smart Lighting And Control Market
7.3.4.1. Overview
7.3.4.2. Smart Lighting And Control Market Forecast and Analysis
7.3.5. Energy Management Systems Market
7.3.5.1. Overview
7.3.5.2. Energy Management Systems Market Forecast and Analysis
7.3.6. HVAC Control Systems Market
7.3.6.1. Overview
7.3.6.2. HVAC Control Systems Market Forecast and Analysis
7.3.7. Audio-Video Conferencing Systems Market
7.3.7.1. Overview
7.3.7.2. Audio-Video Conferencing Systems Market Forecast and Analysis
7.4. SOFTWARE
7.4.1. Overview
7.4.2. Software Market Forecast and Analysis
7.5. SERVICE
7.5.1. Overview
7.5.2. Service Market Forecast and Analysis
8. SMART OFFICE MARKET - REVENUE AND FORECASTS TO 2028 - PRODUCT
8.1. OVERVIEW
8.2. PRODUCT MARKET FORECASTS AND ANALYSIS
8.3. SMART LIGHTING
8.3.1. Overview
8.3.2. Smart Lighting Market Forecast and Analysis
8.4. SECURITY SYSTEM
8.4.1. Overview
8.4.2. Security System Market Forecast and Analysis
8.5. ENERGY MANAGEMENT SYSTEM
8.5.1. Overview
8.5.2. Energy Management System Market Forecast and Analysis
8.6. HVAC CONTROL SYSTEM
8.6.1. Overview
8.6.2. HVAC Control System Market Forecast and Analysis
8.7. AUDIO-VIDEO CONFERENCING SYSTEM
8.7.1. Overview
8.7.2. Audio-Video Conferencing System Market Forecast and Analysis
9. SMART OFFICE MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Smart Office Market Overview
9.1.2 North America Smart Office Market Forecasts and Analysis
9.1.3 North America Smart Office Market Forecasts and Analysis - By Components
9.1.4 North America Smart Office Market Forecasts and Analysis - By Product
9.1.5 North America Smart Office Market Forecasts and Analysis - By Countries
9.1.5.1 United States Smart Office Market
9.1.5.1.1 United States Smart Office Market by Components
9.1.5.1.2 United States Smart Office Market by Product
9.1.5.2 Canada Smart Office Market
9.1.5.2.1 Canada Smart Office Market by Components
9.1.5.2.2 Canada Smart Office Market by Product
9.1.5.3 Mexico Smart Office Market
9.1.5.3.1 Mexico Smart Office Market by Components
9.1.5.3.2 Mexico Smart Office Market by Product
9.2. EUROPE
9.2.1 Europe Smart Office Market Overview
9.2.2 Europe Smart Office Market Forecasts and Analysis
9.2.3 Europe Smart Office Market Forecasts and Analysis - By Components
9.2.4 Europe Smart Office Market Forecasts and Analysis - By Product
9.2.5 Europe Smart Office Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Smart Office Market
9.2.5.1.1 Germany Smart Office Market by Components
9.2.5.1.2 Germany Smart Office Market by Product
9.2.5.2 France Smart Office Market
9.2.5.2.1 France Smart Office Market by Components
9.2.5.2.2 France Smart Office Market by Product
9.2.5.3 Italy Smart Office Market
9.2.5.3.1 Italy Smart Office Market by Components
9.2.5.3.2 Italy Smart Office Market by Product
9.2.5.4 United Kingdom Smart Office Market
9.2.5.4.1 United Kingdom Smart Office Market by Components
9.2.5.4.2 United Kingdom Smart Office Market by Product
9.2.5.5 Russia Smart Office Market
9.2.5.5.1 Russia Smart Office Market by Components
9.2.5.5.2 Russia Smart Office Market by Product
9.2.5.6 Rest of Europe Smart Office Market
9.2.5.6.1 Rest of Europe Smart Office Market by Components
9.2.5.6.2 Rest of Europe Smart Office Market by Product
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Smart Office Market Overview
9.3.2 Asia-Pacific Smart Office Market Forecasts and Analysis
9.3.3 Asia-Pacific Smart Office Market Forecasts and Analysis - By Components
9.3.4 Asia-Pacific Smart Office Market Forecasts and Analysis - By Product
9.3.5 Asia-Pacific Smart Office Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Smart Office Market
9.3.5.1.1 Australia Smart Office Market by Components
9.3.5.1.2 Australia Smart Office Market by Product
9.3.5.2 China Smart Office Market
9.3.5.2.1 China Smart Office Market by Components
9.3.5.2.2 China Smart Office Market by Product
9.3.5.3 India Smart Office Market
9.3.5.3.1 India Smart Office Market by Components
9.3.5.3.2 India Smart Office Market by Product
9.3.5.4 Japan Smart Office Market
9.3.5.4.1 Japan Smart Office Market by Components
9.3.5.4.2 Japan Smart Office Market by Product
9.3.5.5 South Korea Smart Office Market
9.3.5.5.1 South Korea Smart Office Market by Components
9.3.5.5.2 South Korea Smart Office Market by Product
9.3.5.6 Rest of Asia-Pacific Smart Office Market
9.3.5.6.1 Rest of Asia-Pacific Smart Office Market by Components
9.3.5.6.2 Rest of Asia-Pacific Smart Office Market by Product
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Smart Office Market Overview
9.4.2 Middle East and Africa Smart Office Market Forecasts and Analysis
9.4.3 Middle East and Africa Smart Office Market Forecasts and Analysis - By Components
9.4.4 Middle East and Africa Smart Office Market Forecasts and Analysis - By Product
9.4.5 Middle East and Africa Smart Office Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Smart Office Market
9.4.5.1.1 South Africa Smart Office Market by Components
9.4.5.1.2 South Africa Smart Office Market by Product
9.4.5.2 Saudi Arabia Smart Office Market
9.4.5.2.1 Saudi Arabia Smart Office Market by Components
9.4.5.2.2 Saudi Arabia Smart Office Market by Product
9.4.5.3 U.A.E Smart Office Market
9.4.5.3.1 U.A.E Smart Office Market by Components
9.4.5.3.2 U.A.E Smart Office Market by Product
9.4.5.4 Rest of Middle East and Africa Smart Office Market
9.4.5.4.1 Rest of Middle East and Africa Smart Office Market by Components
9.4.5.4.2 Rest of Middle East and Africa Smart Office Market by Product
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Smart Office Market Overview
9.5.2 South and Central America Smart Office Market Forecasts and Analysis
9.5.3 South and Central America Smart Office Market Forecasts and Analysis - By Components
9.5.4 South and Central America Smart Office Market Forecasts and Analysis - By Product
9.5.5 South and Central America Smart Office Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Smart Office Market
9.5.5.1.1 Brazil Smart Office Market by Components
9.5.5.1.2 Brazil Smart Office Market by Product
9.5.5.2 Argentina Smart Office Market
9.5.5.2.1 Argentina Smart Office Market by Components
9.5.5.2.2 Argentina Smart Office Market by Product
9.5.5.3 Rest of South and Central America Smart Office Market
9.5.5.3.1 Rest of South and Central America Smart Office Market by Components
9.5.5.3.2 Rest of South and Central America Smart Office Market by Product
10. INDUSTRY LANDSCAPE
10.1. MERGERS AND ACQUISITIONS
10.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3. NEW PRODUCT LAUNCHES
10.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11. SMART OFFICE MARKET, KEY COMPANY PROFILES
11.1. ABB LTD.
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Products and Services
11.1.4. Financial Overview
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. CISCO SYSTEMS INC.
11.2.1. Key Facts
11.2.2. Business Description
11.2.3. Products and Services
11.2.4. Financial Overview
11.2.5. SWOT Analysis
11.2.6. Key Developments
11.3. CRESTRON ELECTRONICS INC.
11.3.1. Key Facts
11.3.2. Business Description
11.3.3. Products and Services
11.3.4. Financial Overview
11.3.5. SWOT Analysis
11.3.6. Key Developments
11.4. HONEYWELL INTERNATIONAL
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Products and Services
11.4.4. Financial Overview
11.4.5. SWOT Analysis
11.4.6. Key Developments
11.5. JOHNSON CONTROLS
11.5.1. Key Facts
11.5.2. Business Description
11.5.3. Products and Services
11.5.4. Financial Overview
11.5.5. SWOT Analysis
11.5.6. Key Developments
11.6. LUTRON ELECTRONICS CO. INC.
11.6.1. Key Facts
11.6.2. Business Description
11.6.3. Products and Services
11.6.4. Financial Overview
11.6.5. SWOT Analysis
11.6.6. Key Developments
11.7. SCHNEIDER ELECTRIC SE
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Products and Services
11.7.4. Financial Overview
11.7.5. SWOT Analysis
11.7.6. Key Developments
11.8. SIEMENS AG
11.8.1. Key Facts
11.8.2. Business Description
11.8.3. Products and Services
11.8.4. Financial Overview
11.8.5. SWOT Analysis
11.8.6. Key Developments
11.9. SIGNIFY HOLDING(PHILIPS LIGHTING)
11.9.1. Key Facts
11.9.2. Business Description
11.9.3. Products and Services
11.9.4. Financial Overview
11.9.5. SWOT Analysis
11.9.6. Key Developments
11.10. UNITED TECHNOLOGIES CORPORATION
11.10.1. Key Facts
11.10.2. Business Description
11.10.3. Products and Services
11.10.4. Financial Overview
11.10.5. SWOT Analysis
11.10.6. Key Developments
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
1. ABB Ltd.
2. Cisco Systems Inc.
3. Crestron Electronics Inc.
4. Honeywell International
5. Johnson Controls
6. Lutron Electronics Co. Inc.
7. Schneider Electric SE
8. Siemens AG
9. Signify Holding(Philips Lighting)
10. United Technologies Corporation
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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