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Smart Workspace Market (Component - Software, and Services; Product - Smart Lighting, Security Systems, Energy Management Systems, and HVAC Control Systems; Enterprise Size - SMEs, and Large Enterprises; Communication Technology - Wired, and Wireless): Global Industry Analysis, Trends, Size, Share and Forecasts to 2027

  • Published : September, 2021

  • Rep Id : ICT00291

  • Category : Electronics, ICT and Semiconductors

  • Status : Published

A recent report published by Infinium Global Research on the smart workspace market provides an in-depth analysis of segments and sub-segments in the global as well as regional smart workspace market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional smart workspace market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global smart workspace market. According to the report, the global smart workspace market is projected to grow at a CAGR of 13.9% over the forecast period of 2021-2027.

 

Market Insight

The smart workspace market is projected to grow at over 13.9% of the CAGR between 2021 to 2027. The smart workspace market was valued at USD 38.23 billion in 2021 and is projected to reach USD 83.58 billion in 2027. A smart workspace is a workplace, which exploits the usage of technology and networking for all the works in the offices. Smart workspace allows the employees to do their day-to-day work more efficiently with smart devices, better global collaboration. Furthermore, the early traditional workspaces encompassed so many complications and wastage of resources. The introduction of innovative technologies and gadgets such as laptops, tablets, LED monitors and better internet connectivity has changed the face of traditional workspace by removing the bulky monitors and paper works making better consumption of space in the enterprises.

 

The global smart workspace market is primarily driven by the requirement of energy savings at the workspace, better productivity by using novel technologies like tools for data storing and communications, reduce cost, and make optimum usage of resources available at the workspace. Furthermore, the increasing demand for flexibility in working is another factor, which is boosting the market for smart workspace globally as it saves time for the employees commuting from home to workspace and can utilize that time working from home. Moreover, the need for more sustainable workspaces is also driving the market for smart workspaces. On the other hand, the dearth of training and required education among the workforce may restrain the market growth during the forecast period.

 

The North American region is expected to dominate the global smart workspace market owing to the strong construction industry in the region coupled with the rising adoption of smart devices has made the region hold a primary position in the global smart workspace market. Furthermore, the North American region comprises major developed and growing economies, such as the US, Canada, and Mexico, which provide significant growth opportunities for the smart workspace market. Moreover, the Asia Pacific region is expected to grow with the fastest CAGR in the global smart workspace market over the forecast period. The presence of a large number of market players in the Asia Pacific region will also foster the smart workspace industry growth.

 

Segment Covered

The report on global smart workspace market covers segments such as component, product, enterprise size, and communication technology. On the basis of component, the sub-markets include software, and services. On the basis of product, the sub-markets include smart lighting, security systems, energy management systems, and HVAC control systems. On the basis of enterprise size, the sub-markets include SMEs, and large enterprises. On the basis of communication technology, the sub-markets include wired, and wireless.

 

Companies Profiled:

The report provides profiles of the companies in the market such as Honeywell, Johnson Controls, Daikin Industries, General Electric, Philips Lumileds, Acuity Brands, LG Electronics, OSRAM, RavenWindow, and Schneider.

 

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the smart workspace market. Moreover, the study highlights current market trends and provides forecast from 2021-2027. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.


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