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 provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers 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?

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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 market growth, although factors such as issues associated with the integration of smart office solutions in existing systems may impede 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

IoT is an ecosystem of interrelated computing devices, objects, and machines that perform tasks without human intervention and enables businesses to solve business operational solutions independently within a network infrastructure. The global smart office solutions market is witnessing significant growth because of the increasing adoption of IoT devices in smart buildings and the implementation of automation technologies across end-user industries. To analyze and understand the value of data, IoT is integrated with business solutions to take advantage of the real-time data transmitted between IoT devices and increase the efficiency of business operations. Moreover, the need for smart office solutions such as real-time tracking will increase the adoption of IoT in business solutions. Additionally, with the rise in the adoption of IoT in business solutions, vendors in the market are offering IoT-enabled smart office solutions. Hence, the benefits of real-time tracking are increasing the adoption of IoT business solutions which will significantly influence the growth of the global smart office solutions market during the forecast period.

Key Smart Office Solutions Market Trend

The increasing demand for smart office solutions in SMEs and enterprises drives the need for energy-efficient building solutions. Vendors are focusing on developing energy-efficient solutions and sensor networks to capture value-added smart office solutions. Moreover, these solutions optimize energy consumption, decrease maintenance costs, and provide comfort, safety, and low utility bills. Smart office solutions enable the concept of smart lighting, wherein the control of the lighting system can be integrated with sensor technology to turn the lights on or off automatically when not in use. As it results in significant changes in processes and leads to operational benefits, there will be an increase in the demand for energy-efficient sensor networks, which is one of the key smart office solutions market trends.

Key Smart Office Solutions Market Challenge

The issues associated with the integration of smart offices with the existing systems are expected to hamper the growth of the smart office market during the forecast period. Organizations find it difficult to integrate smart offices into the existing business applications due to the lack of expertise and knowledge of customization according to business requirements. The issues related to the integration of smart offices usually result from the presence of internal legacy systems that have diverse structures and formats. It is challenging to create a framework that incorporates all the data integration items based on office requirements and addresses differences in data sources and formats, which leads to interoperability issues in the integration of smart offices. 

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.

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 market is fragmented and the vendors are deploying growth strategies such as M&A, divestitures, and partnerships to compete in the market.

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. 

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. Smart security systems with access controls limit access and restrict the entry of unauthorized personnel into offices. These smart security systems are controlled by the installation of biometric lock systems or through the use of radio-frequency identification (RFID) cards and digital locks. Smart security systems include access controls, surveillance cameras/video surveillance, and fire and safety controls. The increasing number of security and safety issues and the need for security are expected to drive the growth of the market segment during the forecast period.

This report provides an accurate prediction of the contribution of all the segments to the growth of the smart office 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 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 market vendors

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Executive Summary

    Market Landscape

    • Market ecosystem
    • Value chain analysis

    Market Sizing

    • Market definition
    • Market segment analysis
    • Market size 2020
    • Market outlook: Forecast for 2020 - 2025

    Five Forces Analysis

    • Bargaining power of buyers
    • Bargaining power of suppliers
    • Threat of new entrants
    • Threat of substitutes
    • Threat of rivalry
    • Market condition

    Market Segmentation by Product

    • Market segments
    • Comparison by Product
    • Smart security systems - Market size and forecast 2020-2025
    • Smart EMS - Market size and forecast 2020-2025
    • HVAC control systems - Market size and forecast 2020-2025
    • Smart lighting systems - Market size and forecast 2020-2025
    • Audio-video conferencing systems - Market size and forecast 2020-2025
    • Market opportunity by Product

    Customer landscape

      Geographic Landscape

      • Geographic segmentation
      • Geographic comparison
      • APAC - Market size and forecast 2020-2025
      • North America - Market size and forecast 2020-2025
      • Europe - Market size and forecast 2020-2025
      • South America - Market size and forecast 2020-2025
      • MEA - Market size and forecast 2020-2025
      • Key leading countries
      • Market opportunity by geography
      • Market drivers
      • Market challenges
      • Market trends

      Vendor Landscape

      • Overview
      • Vendor landscape
      • Landscape disruption

      Vendor Analysis

      • Vendors covered
      • Market positioning of vendors
      • 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

      Appendix

      • Scope of the report
      • Currency conversion rates for US$
      • Research methodology
      • 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
      Interested in this report?
      Get your FREE sample now!
      The smart office solutions market growth will increase by $18405.20 million during 2020-2025.
      The smart office solutions market is expected to grow at a CAGR of 11.07% during 2020-2025.
      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
      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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