DUBLIN, July 27, 2023 /PRNewswire/ — The “Smart Office Market – Forecasts from 2023 to 2028” report has been added to  ResearchAndMarkets.com’s offering.

The smart office market is on a rapid growth trajectory, projected to expand at a remarkable CAGR of 12.92% from US$34.341 billion in 2021 to US$80.408 billion by 2028. A smart office encompasses various data-driven and digitalized solutions, transforming workplaces into connected and efficient spaces. These solutions aim to enhance employee engagement, improve energy efficiency, reduce costs, and deliver value to organizations through applications that cater to different stakeholders.

Driving Factors and Trends:

The market’s growth is primarily driven by two key factors:

1. The increasing demand for sensing devices for energy efficiency.
2. Advancements in the Internet of Things (IoT) in smart office systems.

The focus on energy efficiency has led to the adoption of smart office solutions to optimize energy consumption in lighting and HVAC systems, reducing workplace energy use by 5% to 30%. Additionally, early identification of operational issues through smart office solutions lowers maintenance costs and prevents unexpected breakdowns. Such initiatives are essential for companies aiming to improve operational energy efficiency and reduce environmental impact.

The market has witnessed significant developments, including the introduction of cutting-edge wireless sensing technology by VergeSense, advanced Internet of Things solutions by TD SYNNEX Solutions Factory, and collaborations between companies like Diversified and GoBright to provide smart workplace solutions.

Market Segmentation:

The smart office market is segmented based on several factors:

1. By Product:

• Smart Lighting
• Smart Security System
• HVAC Control

     2. By Type of Building:

• Newly Constructed
• Retrofit

     3. By End-User Industry:

• Healthcare
• Retail
• BFSI
• Media and Entertainment
• Government
• Others

     4. By Geography:

• North America (USA, Canada, Mexico)
• South America (Brazil, Argentina, Others)
• Europe (UK, Germany, Italy, Spain, Others)
• Middle East and Africa (Israel, Saudi Arabia, Others)
• Asia Pacific (China, Japan, India, Australia, South Korea, Taiwan, Thailand, Indonesia, Others)

Regional Analysis:

North America holds a significant share in the smart office market, driven by the growing adoption of IoT in smart office services and the increasing emphasis on workplace safety and energy efficiency. The USA, in particular, benefits from the integration of advanced technologies like virtual environments and artificial intelligence, and the widespread implementation of 5G and Wi-Fi 6, enabling smarter and more efficient office solutions.

Conclusion:

The smart office market is experiencing exponential growth, fueled by the need for energy-efficient and connected workplaces. IoT advancements and the increasing focus on employee well-being and productivity are driving the adoption of smart office solutions across various industries. As technology continues to evolve, the smart office market is poised to reshape traditional workplaces and create more connected, efficient, and dynamic work environments.

For more information about this report visit https://www.researchandmarkets.com/r/m0sgz5

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