Analysis of Smart Office Market by 2023
A fresh report has been added to the wide database of
Business Industry Reports. The research study is titled “Smart
Office Market” by Manufacturers, Countries, Type and
Application, Forecast to 2023 which provides important data
about the production, consumption, revenue and company
profiles for key industry participants.
Global Smart Office Market Synopsis:
According to Market Analyst, The Global Smart Office Market is expected to grow at an impressive
Compound Annual Growth Rate (CAGR) from 2019 to 2023.
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Organizations are constantly evolving due to changing workforce demographics and technological
expectations of modern employees and employers. As a result, a large number of organizations across
the globe are anticipated to shift toward smart offices.
The market studied is primarily being driven by factors, such as the rise in demand for intelligent office
solutions, sensor networks for energy efficiency, favorable government regulations for the same,
advancement of IoT in smart office offerings, and growing need for safety and security systems at the
workplace. According to Research Analyst, Improving economic conditions, globally, is one of the driving
factors for the growth of the smart offices market.
Global Smart Office Market has been segmented on the Basis of Product Type, Application and Region.
In Product Type segment, Global Smart Office Market can be sub segmented into Smart lighting/Lighting
Controls, Security Systems, Energy Management Systems, HVAC Control Systems, Audio–Video
Conferencing Systems. The market for the energy management system segment is expected to grow at
the highest CAGR between 2019 and 2023. The rising energy consumption, energy price volatility,
integration of applications over a single platform across the commercial sector is the driving factors for
the growth of the EMS in the smart office market.
Regionally, APAC is expected to be the fastest-growing region for products in the smart office market.
China and India are the fastest-growing economies that are witnessing a rapid penetration of Internet of
Things (IoT) in APAC.