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Smart Office Solutions Market by Product and Geography - Forecast and Analysis 2021-2025

  • Published: Nov 2021
  • Pages: 120
  • SKU: IRTNTR40822
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The smart office solutions market share is expected to increase by USD 18.40 billion from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 11.07%.

This smart office solutions market research report extensively covers smart office solutions market segmentation by product (smart security systems, smart EMS, HVAC control systems, smart lighting systems, and audio-video conferencing systems) and geography (APAC, North America, Europe, South America, and MEA). The smart office solutions market report also offers information on several market vendors, including ABB Ltd., Cisco Systems Inc., Crestron Electronics Inc., Honeywell International Inc., Johnson Controls International Plc, Koninklijke Philips NV, Lutron Electronics Co. Inc., Schneider Electric SE, Siemens AG, and Signify NV among others.

What will the Smart Office Solutions Market Size be During the Forecast Period?

Download the Free Report Sample to Unlock the Smart Office Solutions Market Size for the Forecast Period and Other Important Statistics

 

Smart Office Solutions Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a neutral impact on the market growth during and post COVID-19 era. The increasing adoption of IoT in business solutions is notably driving the smart office solutions market growth, although factors such as the integration of smart office solutions in existing systems may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the smart office solutions industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Smart Office Solutions Market Driver

One of the key factors driving growth in the smart office solutions market is the increase in the number of startups. The growth of the market is mainly driven by the rise in investments in startups by venture capitalists and other companies. Well-established companies in the IT sector are focusing on creating a brand for specialized services by investing in startups. For example, Wipro, one of the leading IT companies, is a key investor in many startups, such as Tricentis, an Australian software testing firm, and Drivestream, a cloud services firm based in the US. Similarly, Infosys is investing in startups such as Cloudyn, an Israeli cloud-management firm, and ideaForge Technology, a Mumbai-based drone-maker. Thus, the overall increase in the number of startups is expected to drive the growth of the market during the forecast period.

Key Smart Office Solutions Market Trend

The increasing number of M&A activities is another factor supporting the smart office solutions market share growth. The global smart office market is growing due to the increasing number of enterprise expansions. In order to gain a competitive edge, vendors operating in the market enter into strategic partnerships with their peers or acquire other vendors. Market participants are opting for partnerships and acquisitions to gain access to new clients and technologies that can help them expand their product portfolio and geographic footprint. The rising number of strategic partnerships and alliances between vendors will lead to an increase in demand for smart offices during the forecast period

Key Smart Office Solutions Market Challenge

The integration of smart office solutions in existing systems will be a major challenge for the smart office solutions market during the forecast period. Corporate offices are implementing smart solutions to increase the operational efficiency of business assets. However, the selection of the right office solution is a major challenge. Organizations that fail to recognize or conduct proper research on their business requirements, as well as the capabilities and limitations of solutions, can end up with ineffective deployments. The deployment of smart offices in existing systems is expensive when compared to the procurement of new systems. The integration of technologies such as the cloud with infrastructure-as-a-service (IaaS) through IoT in existing systems leads to interoperability issues. Therefore, issues associated with the integration of smart offices with the existing systems are expected to hamper the growth of the global smart office.

This smart office solutions market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Parent Market Analysis

Technavio categorizes the global smart office solutions market as a part of the global IT consulting and other services market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the smart office solutions market during the forecast period.

Who are the Major Smart Office Solutions Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • ABB Ltd.
  • Cisco Systems Inc.
  • Crestron Electronics Inc.
  • Honeywell International Inc.
  • Johnson Controls International Plc
  • Koninklijke Philips NV
  • Lutron Electronics Co. Inc.
  • Schneider Electric SE
  • Siemens AG
  • Signify NV

 

This statistical study of the smart office solutions market encompasses successful business strategies deployed by the key vendors. The smart office solutions market is fragmented and the vendors are deploying growth strategies such as M&A, divestitures, and partnerships to compete in the market.

Product Insights and News

  • ABB Ltd.- The company offers a smart office named Building Space.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The smart office solutions market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Smart Office Solutions Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the smart office solutions market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chains is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The value chain of the IT consulting and other services market includes the following core components:

  • Inputs
  • Operations
  • Marketing and sales
  • Service
  • Support activities
  • Innovation

The report has further elucidated on other innovative approaches being followed by service providers to ensure a sustainable market presence.

Which are the Key Regions for Smart Office Solutions Market?

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35% of the market’s growth will originate from APAC during the forecast period. China and Japan are the key markets for smart office solutions in APAC. Market growth in this region will be faster than the growth of the market in MEA and South America.

The rising number of commercial offices and the growing emphasis on technological safety solutions, especially in China and India, will facilitate the smart office solutions market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating Product Segments in the Smart Office Solutions Market?

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The smart office solutions market share growth by the smart security systems segment will be significant during the forecast period. The growth of the smart security systems segment might be restricted by the expensive installation charges and high maintenance costs. These factors are expected to limit the sales of smart security systems during the forecast period. However, the increasing number of security and safety issues and the need for security are expected to drive the growth of the market during the forecast period.

This report provides an accurate prediction of the contribution of all the segments to the growth of the smart office solutions market size and actionable market insights on post COVID-19 impact on each segment.

 

Smart Office Solutions Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 11.07%

Market growth 2021-2025

$ 18.40 billion

Market structure

Fragmented

YoY growth (%)

10.50

Regional analysis

APAC, North America, Europe, South America, and MEA

Performing market contribution

APAC at 35%

Key consumer countries

US, China, Japan, UK, and Germany

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

ABB Ltd., Cisco Systems Inc., Crestron Electronics Inc., Honeywell International Inc., Johnson Controls International Plc, Koninklijke Philips NV, Lutron Electronics Co. Inc., Schneider Electric SE, Siemens AG, and Signify NV

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period

Customization purview

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What are the Key Data Covered in this Smart Office Solutions Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive smart office solutions market growth during the next five years
  • Precise estimation of the smart office solutions market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the smart office solutions industry across APAC, North America, Europe, South America, and MEA
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of smart office solutions market vendors

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1. Executive Summary                         

2. Market Landscape                            

               2.1 Market ecosystem             

                              Exhibit 01:  Parent market

                              Exhibit 02:  Market characteristics

               2.2 Value chain analysis           

                              Exhibit 03: Value chain analysis: IT consulting and others services

                              2.2.1 Inputs

                              2.2.2 Operations

                              2.2.3 Service

                              2.2.4 Support activities

                              Innovations

3. Market Sizing                      

               3.1 Market definition

                              Exhibit 04:  Offerings of vendors included in the market definition

               3.2 Market segment analysis  

                              Exhibit 05:  Market segments

               3.3 Market size 2020 

               3.4 Market outlook: Forecast for 2020 - 2025 

                              3.4.1 Estimating growth rates for emerging and high-growth markets

                              3.4.2 Estimating growth rates for mature markets

                              Exhibit 06:  Global - Market size and forecast 2020 - 2025 ($ million)

                              Exhibit 07:  Global market: Year-over-year growth 2020 - 2025 (%)

4. Five Forces Analysis                         

               4.1 Five Forces Summary         

                              Exhibit 08: Five forces analysis 2020 & 2025

               4.2 Bargaining power of buyers            

                              Exhibit 09: Bargaining power of buyers

               4.3 Bargaining power of suppliers        

                              Exhibit 10: Bargaining power of suppliers

               4.4 Threat of new entrants     

                              Exhibit 11: Threat of new entrants

               4.5 Threat of substitutes          

                              Exhibit 12: Threat of substitutes

               4.6 Threat of rivalry   

                              Exhibit 13: Threat of rivalry

               4.7 Market condition 

                              Exhibit 14: Market condition - Five forces 2020

5. Market Segmentation by Product              

               5.1 Market segments

                              Exhibit 15: Product - Market share 2020-2025 (%)

               5.2 Comparison by Product    

                              Exhibit 16: Comparison by Product

               5.3 Smart security systems - Market size and forecast 2020-2025          

                              Exhibit 17:  Smart security systems - Market size and forecast 2020-2025 ($ million)

                              Exhibit 18:  Smart security systems - Year-over-year growth 2020-2025 (%)

               5.4 Smart EMS - Market size and forecast 2020-2025  

                              Exhibit 19:  Smart EMS - Market size and forecast 2020-2025 ($ million)

                              Exhibit 20:  Smart EMS - Year-over-year growth 2020-2025 (%)

               5.5 HVAC control systems - Market size and forecast 2020-2025            

                              Exhibit 21:  HVAC control systems - Market size and forecast 2020-2025 ($ million)

                              Exhibit 22:  HVAC control systems - Year-over-year growth 2020-2025 (%)

               5.6 Smart lighting systems - Market size and forecast 2020-2025           

                              Exhibit 23:  Smart lighting systems - Market size and forecast 2020-2025 ($ million)

                              Exhibit 24:  Smart lighting systems - Year-over-year growth 2020-2025 (%)

               5.7 Audio-video conferencing systems - Market size and forecast 2020-2025    

                              Exhibit 25:  Audio-video conferencing systems - Market size and forecast 2020-2025 ($ million)

                              Exhibit 26:  Audio-video conferencing systems - Year-over-year growth 2020-2025 (%)

               5.8 Market opportunity by Product     

                              Exhibit 27: Market opportunity by Product

6. Customer landscape                        

                              Technavio’s customer landscape matrix comparing Drivers or price sensitivity, Adoption lifecycle, importance in customer price basket, Adoption rate and Key purchase criteria

                              Exhibit 28:  Customer landscape

7. Geographic Landscape                    

               7.1 Geographic segmentation

                              Exhibit 29:  Market share by geography 2020-2025 (%)

               7.2 Geographic comparison    

                              Exhibit 30:  Geographic comparison

               7.3 APAC - Market size and forecast 2020-2025             

                              Exhibit 31:  APAC - Market size and forecast 2020-2025 ($ million)

                              Exhibit 32:  APAC - Year-over-year growth 2020-2025 (%)

               7.4 North America - Market size and forecast 2020-2025          

                              Exhibit 33:  North America - Market size and forecast 2020-2025 ($ million)

                              Exhibit 34:  North America - Year-over-year growth 2020-2025 (%)

               7.5 Europe - Market size and forecast 2020-2025         

                              Exhibit 35:  Europe - Market size and forecast 2020-2025 ($ million)

                              Exhibit 36:  Europe - Year-over-year growth 2020-2025 (%)

               7.6 South America - Market size and forecast 2020-2025          

                              Exhibit 37:  South America - Market size and forecast 2020-2025 ($ million)

                              Exhibit 38:  South America - Year-over-year growth 2020-2025 (%)

               7.7 MEA - Market size and forecast 2020-2025              

                              Exhibit 39:  MEA - Market size and forecast 2020-2025 ($ million)

                              Exhibit 40:  MEA - Year-over-year growth 2020-2025 (%)

               7.8 Key leading countries        

                              Exhibit 41:  Key leading countries

               7.9 Market opportunity by geography

                              Exhibit 42:  Market opportunity by geography ($ million)

8. Drivers, Challenges, and Trends                  

               8.1 Market drivers      

                              8.1.1 Increase in number of startups

                              8.1.2 Increasing adoption of IoT in business solutions

                              8.1.3 Rising spend on IT technologies

               8.2 Market challenges              

                              8.2.1 Integration of smart office solutions in existing systems

                              8.2.2 Cybersecurity attacks

                              8.2.3 Need for constant system updates

                              Exhibit 43:  Impact of drivers and challenges

               8.3 Market trends      

                              8.3.1 Increasing number of M&A activities

                              8.3.2 Increase in demand for smart office and sensor networks for energy efficiency

                              8.3.3 Increasing preference for mix and match cloud services

9. Vendor Landscape                            

               9.1 Overview

               9.2 Vendor landscape

                              Exhibit 44:  Vendor landscape

               9.3 Landscape disruption         

                              Exhibit 45:  Landscape disruption

                              Exhibit 46:  Industry risks

10. Vendor Analysis               

               10.1 Vendors covered              

                              Exhibit 47:  Vendors covered

               10.2 Market positioning of vendors    

                              Exhibit 48:  Market positioning of vendors

               10.3 ABB Ltd.

                              Exhibit 49:  ABB Ltd. - Overview

                              Exhibit 50:  ABB Ltd. - Business segments

                              Exhibit 51:  ABB Ltd.-Key news

                              Exhibit 52:  ABB Ltd. - Key offerings

                              Exhibit 53:  ABB Ltd. - Segment focus

               10.4 Cisco Systems Inc.            

                              Exhibit 54:  Cisco Systems Inc. - Overview

                              Exhibit 55:  Cisco Systems Inc. - Business segments

                              Exhibit 56:  Cisco Systems Inc.-Key news

                              Exhibit 58:  Cisco Systems Inc. - Segment focus

               10.5 Crestron Electronics Inc.

                              Exhibit 59:  Crestron Electronics Inc. - Overview

                              Exhibit 60:  Crestron Electronics Inc. - Product and service

                              Exhibit 61:  Crestron Electronics Inc. - Key offerings

               10.6 Honeywell International Inc.       

                              Exhibit 62:  Honeywell International Inc. - Overview

                              Exhibit 63:  Honeywell International Inc. - Business segments

                              Exhibit 64:  Honeywell International Inc.-Key news

                              Exhibit 65:  Honeywell International Inc. - Key offerings

                              Exhibit 66:  Honeywell International Inc. - Segment focus

               10.7 Johnson Controls International Plc            

                              Exhibit 67:  Johnson Controls International Plc - Overview

                              Exhibit 68:  Johnson Controls International Plc - Business segments

                              Exhibit 69:  Johnson Controls International Plc - Key offerings

                              Exhibit 70:  Johnson Controls International Plc - Segment focus

               10.8 Koninklijke Philips NV     

                              Exhibit 71:  Koninklijke Philips NV - Overview

                              Exhibit 72:  Koninklijke Philips NV - Business segments

                              Exhibit 73:  Koninklijke Philips NV - Key offerings

                              Exhibit 74:  Koninklijke Philips NV - Segment focus

               10.9 Lutron Electronics Co. Inc.            

                              Exhibit 75:  Lutron Electronics Co. Inc. - Overview

                              Exhibit 76:  Lutron Electronics Co. Inc. - Product and service

                              Exhibit 77:  Lutron Electronics Co. Inc. - Key offerings

               10.10 Schneider Electric SE    

                              Exhibit 78:  Schneider Electric SE - Overview

                              Exhibit 79:  Schneider Electric SE - Business segments

                              Exhibit 80:  Schneider Electric SE-Key news

                              Exhibit 81:  Schneider Electric SE - Key offerings

                              Exhibit 82:  Schneider Electric SE - Segment focus

               10.11 Siemens AG      

                              Exhibit 83:  Siemens AG - Overview

                              Exhibit 84:  Siemens AG - Business segments

                              Exhibit 85:  Siemens AG-Key news

                              Exhibit 86:  Siemens AG - Key offerings

                              Exhibit 87:  Siemens AG - Segment focus

               10.12 Signify NV         

                              Exhibit 88:  Signify NV - Overview

                              Exhibit 89:  Signify NV - Business segments

                              Exhibit 90:  Signify NV - Key offerings

                              Exhibit 91:  Signify NV - Segment focus

11. Appendix                           

               11.1 Scope of the report         

                              11.1.1 Definition

                              11.1.2 ????Objectives

                              11.1.3 ????Notes and caveats

               11.2 Currency conversion rates for US$            

                              Exhibit 92: ?Currency conversion rates for US$?

               11.3 Research Methodology   

                              Exhibit 93: ?Research Methodology

                              Exhibit 94: ??Validation techniques employed for market sizing?

                              Exhibit 95: ??Information sources

               11.4 List of abbreviations        

                              Exhibit 96: List of abbreviations

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
Technavio

TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
Technavio

TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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The smart office solutions market growth will increase by $18405.20 million during 2021-2025.
The smart office solutions market is expected to grow at a CAGR of 11.07% during 2021-2025.
Technavio has segmented the smart office solutions market by product (Smart security systems, Smart EMS, HVAC control systems, Smart lighting systems, and Audio-video conferencing systems) and geographic (APAC, North America, Europe, South America, and MEA).
ABB Ltd., Cisco Systems Inc., Crestron Electronics Inc., Honeywell International Inc., Johnson Controls International Plc, Koninklijke Philips NV, Lutron Electronics Co. Inc., Schneider Electric SE, Siemens AG, Signify NV are a few of the key vendors in the smart office solutions market.
APAC will register the highest growth rate of 35.10% among the other regions. Therefore, the smart office solutions market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
The key factors driving the smart office solutions market growth are:
  • Increase in number of startups
  • Increasing number of M&A activities
The smart office solutions market vendors should focus on grabbing business opportunities from the smart security systems segment as it accounted for the largest market share in the base year.
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