Smart workplace market is estimated to exhibit high growth potential during the forecast period owing to rapid adoption of smart workplace solutions and services. Major driving factor in the growth of smart workplace market is the growing need for energy conservation and increasing need for energy efficient solutions. Increasing technological advancements is another major factor responsible for the growth of smart workplace market. Increasing demand for seamless connectivity is one major factor driving the growth of smart workplace market.
Cisco Systems and Siemens AG are among the key players in the smart workplace market. Cisco Systems has come up connected workplace project with smart solutions for workplace automation and also energy efficient solutions too. This is owing to the increasing awareness of energy efficient solutions. The company focusses on offering innovative solutions and keeps up with the fast pace of the technological advancements.
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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) among others
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.
Smart Workplace Market Segmentation
The smart workplace market has been segmented on the basis of component, product, office type and communication technology. The communication technology segment is bifurcated into wired and wireless. Out of which, the wireless communication technology sub segment holds the largest market share of the smart workplace market. This is owing to the technological advancements and growing demand for wireless technology applications.
The regional analysis of smart workplace market is being studied for regions such as Asia Pacific, North America, Europe and Rest of the World. It has been observed that North America is estimated to account for the largest share of the market, whereas Asia-Pacific is projected to grow at the fastest rate during the forecast period. The major growth in smart workplace market in North America is attributed to technical advancements and increasing demand for smart workplaces
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- Technology Investors
- Research/Consultancy Firms
- Original equipment manufacturers (OEMs)
- Government Bodies
- IT & Telecommunication Companies