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?
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" More than 80% of the population in China and Japan is adopting IoT services. Infrastructure development and the adoption of IoT services are witnessing significant growth due to an increase in the number of corporate offices in the region."
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.
The super parent global IT services market cover companies offering IT consulting and system integration services, application services, electronic data processing services, business process outsourcing services, infrastructure services, and Internet services. The global IT consulting and other services market covers companies that provide information technology consulting and information management services.
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:
- Marketing and sales
- Support activities
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
Growth momentum & CAGR
Accelerate at a CAGR of 11.07%
Market growth 2021-2025
$ 18.40 billion
YoY growth (%)
APAC, North America, Europe, South America, and MEA
Performing market contribution
APAC at 35%
Key consumer countries
US, China, Japan, UK, and Germany
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
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
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
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
2.2.4 Support activities
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
9.2 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
11.1 Scope of the report
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
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.
- Market size and forecast
- Market segmentation
- Geographical insights
- Competitive landscape
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Frequently Asked Questions?
- Increase in number of startups
- Increasing number of M&A activities
Key Questions Answered
- What are the key global market and the regional market share?
- What are the revenue-generating key market segments?
- What are the key factors driving and challenging this market’s growth?
- Who are the key market vendors and their growth strategies?
- What are the latest trends influencing the growth of this market?
- What are the variables influencing the market growth in the primary regions?
- What are the factors influencing the growth of the parent market?
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