Global Smart Office Market 2018-2023 Demand, Upcoming Trends and Business Overview
The study of the “Global Smart Office Market” provides the market size information and market trends along with the factors and parameters impacting it in both short and long term. The study ensures a 360° view, bringing out the complete key insights of t
(EMAILWIRE.COM, May 10, 2018 ) As of 2017, the Global Smart Office Market was valued at USD 32.62 billion and is expected to reach a value of USD 61.4 billion by 2023, registering a CAGR of about 11.26% during 2018-2023 (the forecast period). Smart office is an integration of multiple technologies, which enables a centralized control and monitoring, helping in an efficient resource management. Traditional office spaces have manually-operated systems for lighting, surveillance, HVAC, and safety and access control. With the changing workplace environments, there is a need for scalable office infrastructure.
Smart office system deploys sensors, automated systems, and advanced communication networks, to enable a centralized control and the wireless data transfer for monitoring and data analysis. This system improves the efficiency of offices. Automated lighting systems and advanced HVAC systems help offices in a better energy management. Advanced connectivity systems in smart offices enable cross-continental communication with video-audio conferencing features. The growth in business and emerging business opportunities in the developing economies are driving the establishment of new infrastructure, with many consumers opting smart office systems for the future. This factor is indicating a growth in demand for smart offices.
Major Players: KONINKLIJKE PHILIPS NV, HONEYWELL INTERNATIONAL INC., ABB LTD, SCHNEIDER ELECTRIC SE, SIEMENS AG, UNITED TECHNOLOGIES CORPORATION, JOHNSON CONTROLS INTERNATIONAL PLC, CISCO SYSTEMS INC., CRESTRON ELECTRONICS INC., AND LUTRON ELECTRONICS CO. INC., amongst others.
Request a sample of this report @ http://orbisresearch.com/contacts/request-sample/2095216 .
Increasing Focus on Energy Efficiency is Driving the Market
The top five consumers of the electricity are expected to account for more than 40% of the global energy consumption. Building operations are expected to account for around 36% of the overall energy consumption. With the growing demand for electricity, the consumption of natural resources has increased drastically, over the last decade. Rising concerns, over environmental safety, are pushing governments to initiate energy regulations, in order to control the overall energy consumption. This factor is pushing offices and other commercial buildings to reduce the overall energy consumption. Offices are looking to employ smart energy management systems, in order to reduce the overall energy consumption and control carbon footprint. Moreover, at present, companies are deploying automated lighting systems and smart HVAC systems. These systems enable operation based on presence and remain off in the absence of personnel. This factor is helping companies to reduce the energy consumption and growing environmental concerns. It is also pushing the companies to adopt efficient systems, which, in turn, is driving the rate of adoption of smart offices, globally.
Smart HVAC Control Systems are dominating the Market Landscape
mart HVAC (heating, ventilation, and air conditioning) system is critical in the face of depleting natural resources, particularly fossil fuels, setting to raise the cost of energy supply and distribution, over the coming years. On the account of these regulations, most office buildings need smarter processes like heating and cooling, so that new office buildings can become more energy efficient. Moreover, for the millions of offices built over past decades, smart HVAC system is expected to become an essential investment opportunity, if companies are resolute to mitigate their effects on the environment and energy savings. Manufacturers, however, are taking these dynamics and even further presenting a wave of new products that include everything, from self-diagnose systems to variable-speed air handlers with electronic controls. Besides, smart thermostats are bringing the revolution with their wide range of applications in the Internet of Things office automation. The HVAC sensor market is increasing proportionately with the increase of building automation, along with the growing need for efficient and convenient technological systems in the office for numerous applications.
Place a purchase order of this report @ http://orbisresearch.com/contact/purchase/2095216 .
North America is Expected to Dominate the Market
The North American smart office market is expected to witness an enormous growth rate, owing to the demand for smart lighting and security & access control systems. Technological penetration and the increasing security concerns among various organizations are propelling the growth of the North American smart office market, which stands on the top of the charts in terms of revenue. Over the years, North America has been taking a giant leap in terms of technological advancement, with companies making prosperous approaches to add value to the market growth. Market players in this region have launched advanced and efficient products, to deliver powerful services to organizations. Firms are leveraging devices, such as smartphones and other technologies, in order to get solutions at a faster rate and lesser cost, as technology penetration is high in North America. As of 2017, the United States held a major share of the North American smart office market. The majority of the companies in the United States have invested heavily in establishing a connected office environment, to maintain a certain flow of operations. Also, the intervention of IoT in the industry has made firms willing to invest to automate functions and help in optimizing the entire workforce efficiency. The increasing number of smart devices has been the primary reason behind the implementation of the connected offices, as more devices and a heavy dependence on the emerging cloud computing technologies will exponentially improve the quality of products and services being provided by the firms.
Key Developments in the Market
March 2017 - Siemens acquired Mentor graphics, an electronic design automation (EDA) Software leader, to expand its digital industrial leadership.
January 2017 - Ericsson and Cisco extended their strategic partnership, in order to include new Wi-Fi with the integrated and scalable cross-market solutions.
January 2017 - Johnson Controls introduced Verasys controls system, which provides the first plug-and-play solutions to integrate HVACR equipment and controls.
December 2016 - Cisco launched an enhanced cloud-scale networking platform, to help service providers transform central offices.
December 2016 - Schneider Electric and Cosmo Company partnered to empower grid operators with accurate infrastructure.
Reasons to Purchase this Report
• The increased rate of adoption of IoT devices affecting the global smart office market
• Various perspectives of the market, with the help of Porter’s five forces analysis
• The building types and products that are expected to dominate the market
• The regions that are expected to witness the fastest growth rates during the forecast period
• The latest developments, market shares, and strategies that are employed by the major market players
• 3 months analyst support, along with the Market Estimate sheet(in excel)
Customization of the Report
This report can be customized to meet your requirements. Please connect with our representative, who will ensure you get a report that suits your needs.
Companies Mentioned:
Koninklijke Philips N.V, Honeywell International Inc., ABB Ltd., Schneider Electric SE, Siemens AG, United Technologies Corporation, Johnson Controls International PLC, Cisco Systems Inc., Crestron Electronics Inc., Lutron Electronics Co. Inc.
Make an enquiry of this report @ http://orbisresearch.com/contacts/enquiry-before-buying/2095216 .
Some Points from Table of Content:
1. Introduction
1.1 Key Deliverables of the Study
1.2 Study Assumptions
1.3 Market Definition
1.4 Key Findings of the Study
2. Research Approach and Methodology
3. Executive Summary
4. Market Dynamics
4.1 Market Overview
4.2 Factors Driving the Market
4.2.1 Growing Need for Smarter Security and Safety Solutions at Workplace
4.3 Factors Restraining the Market
4.3.1 Challenges in Upgrading the Existing Systems
4.4 Market Opportunities
4.5 Industry Value-Chain Analysis
5. Technology Overview
6. Global Smart Office Segmentation
6.1 By Product
6.1.1 Smart Office Lighting
6.1.2 Security & Access Controls System
6.1.3 Energy Management System
6.1.4 Smart HVAC Control System
7. Competitive Intelligence – Company Profiles
8. Vendor Market Share
9. Investment Analysis
10. Future of the Market
About Us:
Orbis Research (orbisresearch.com) is a single point aid for all your market research requirements. We have vast database of reports from the leading publishers and authors across the globe. We specialize in delivering customized reports as per the requirements of our clients. We have complete information about our publishers and hence are sure about the accuracy of the industries and verticals of their specialization. This helps our clients to map their needs and we produce the perfect required market research study for our clients.
Smart office system deploys sensors, automated systems, and advanced communication networks, to enable a centralized control and the wireless data transfer for monitoring and data analysis. This system improves the efficiency of offices. Automated lighting systems and advanced HVAC systems help offices in a better energy management. Advanced connectivity systems in smart offices enable cross-continental communication with video-audio conferencing features. The growth in business and emerging business opportunities in the developing economies are driving the establishment of new infrastructure, with many consumers opting smart office systems for the future. This factor is indicating a growth in demand for smart offices.
Major Players: KONINKLIJKE PHILIPS NV, HONEYWELL INTERNATIONAL INC., ABB LTD, SCHNEIDER ELECTRIC SE, SIEMENS AG, UNITED TECHNOLOGIES CORPORATION, JOHNSON CONTROLS INTERNATIONAL PLC, CISCO SYSTEMS INC., CRESTRON ELECTRONICS INC., AND LUTRON ELECTRONICS CO. INC., amongst others.
Request a sample of this report @ http://orbisresearch.com/contacts/request-sample/2095216 .
Increasing Focus on Energy Efficiency is Driving the Market
The top five consumers of the electricity are expected to account for more than 40% of the global energy consumption. Building operations are expected to account for around 36% of the overall energy consumption. With the growing demand for electricity, the consumption of natural resources has increased drastically, over the last decade. Rising concerns, over environmental safety, are pushing governments to initiate energy regulations, in order to control the overall energy consumption. This factor is pushing offices and other commercial buildings to reduce the overall energy consumption. Offices are looking to employ smart energy management systems, in order to reduce the overall energy consumption and control carbon footprint. Moreover, at present, companies are deploying automated lighting systems and smart HVAC systems. These systems enable operation based on presence and remain off in the absence of personnel. This factor is helping companies to reduce the energy consumption and growing environmental concerns. It is also pushing the companies to adopt efficient systems, which, in turn, is driving the rate of adoption of smart offices, globally.
Smart HVAC Control Systems are dominating the Market Landscape
mart HVAC (heating, ventilation, and air conditioning) system is critical in the face of depleting natural resources, particularly fossil fuels, setting to raise the cost of energy supply and distribution, over the coming years. On the account of these regulations, most office buildings need smarter processes like heating and cooling, so that new office buildings can become more energy efficient. Moreover, for the millions of offices built over past decades, smart HVAC system is expected to become an essential investment opportunity, if companies are resolute to mitigate their effects on the environment and energy savings. Manufacturers, however, are taking these dynamics and even further presenting a wave of new products that include everything, from self-diagnose systems to variable-speed air handlers with electronic controls. Besides, smart thermostats are bringing the revolution with their wide range of applications in the Internet of Things office automation. The HVAC sensor market is increasing proportionately with the increase of building automation, along with the growing need for efficient and convenient technological systems in the office for numerous applications.
Place a purchase order of this report @ http://orbisresearch.com/contact/purchase/2095216 .
North America is Expected to Dominate the Market
The North American smart office market is expected to witness an enormous growth rate, owing to the demand for smart lighting and security & access control systems. Technological penetration and the increasing security concerns among various organizations are propelling the growth of the North American smart office market, which stands on the top of the charts in terms of revenue. Over the years, North America has been taking a giant leap in terms of technological advancement, with companies making prosperous approaches to add value to the market growth. Market players in this region have launched advanced and efficient products, to deliver powerful services to organizations. Firms are leveraging devices, such as smartphones and other technologies, in order to get solutions at a faster rate and lesser cost, as technology penetration is high in North America. As of 2017, the United States held a major share of the North American smart office market. The majority of the companies in the United States have invested heavily in establishing a connected office environment, to maintain a certain flow of operations. Also, the intervention of IoT in the industry has made firms willing to invest to automate functions and help in optimizing the entire workforce efficiency. The increasing number of smart devices has been the primary reason behind the implementation of the connected offices, as more devices and a heavy dependence on the emerging cloud computing technologies will exponentially improve the quality of products and services being provided by the firms.
Key Developments in the Market
March 2017 - Siemens acquired Mentor graphics, an electronic design automation (EDA) Software leader, to expand its digital industrial leadership.
January 2017 - Ericsson and Cisco extended their strategic partnership, in order to include new Wi-Fi with the integrated and scalable cross-market solutions.
January 2017 - Johnson Controls introduced Verasys controls system, which provides the first plug-and-play solutions to integrate HVACR equipment and controls.
December 2016 - Cisco launched an enhanced cloud-scale networking platform, to help service providers transform central offices.
December 2016 - Schneider Electric and Cosmo Company partnered to empower grid operators with accurate infrastructure.
Reasons to Purchase this Report
• The increased rate of adoption of IoT devices affecting the global smart office market
• Various perspectives of the market, with the help of Porter’s five forces analysis
• The building types and products that are expected to dominate the market
• The regions that are expected to witness the fastest growth rates during the forecast period
• The latest developments, market shares, and strategies that are employed by the major market players
• 3 months analyst support, along with the Market Estimate sheet(in excel)
Customization of the Report
This report can be customized to meet your requirements. Please connect with our representative, who will ensure you get a report that suits your needs.
Companies Mentioned:
Koninklijke Philips N.V, Honeywell International Inc., ABB Ltd., Schneider Electric SE, Siemens AG, United Technologies Corporation, Johnson Controls International PLC, Cisco Systems Inc., Crestron Electronics Inc., Lutron Electronics Co. Inc.
Make an enquiry of this report @ http://orbisresearch.com/contacts/enquiry-before-buying/2095216 .
Some Points from Table of Content:
1. Introduction
1.1 Key Deliverables of the Study
1.2 Study Assumptions
1.3 Market Definition
1.4 Key Findings of the Study
2. Research Approach and Methodology
3. Executive Summary
4. Market Dynamics
4.1 Market Overview
4.2 Factors Driving the Market
4.2.1 Growing Need for Smarter Security and Safety Solutions at Workplace
4.3 Factors Restraining the Market
4.3.1 Challenges in Upgrading the Existing Systems
4.4 Market Opportunities
4.5 Industry Value-Chain Analysis
5. Technology Overview
6. Global Smart Office Segmentation
6.1 By Product
6.1.1 Smart Office Lighting
6.1.2 Security & Access Controls System
6.1.3 Energy Management System
6.1.4 Smart HVAC Control System
7. Competitive Intelligence – Company Profiles
8. Vendor Market Share
9. Investment Analysis
10. Future of the Market
About Us:
Orbis Research (orbisresearch.com) is a single point aid for all your market research requirements. We have vast database of reports from the leading publishers and authors across the globe. We specialize in delivering customized reports as per the requirements of our clients. We have complete information about our publishers and hence are sure about the accuracy of the industries and verticals of their specialization. This helps our clients to map their needs and we produce the perfect required market research study for our clients.
Contact Information:
Orbis Research
Hector Costello
Tel: +1 (214) 884-6817
Email us
----
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Orbis Research
Hector Costello
Tel: +1 (214) 884-6817
Email us
----
This press release is posted on EmailWire.com -- a global newswire that provides Press Release Distribution Services with Guaranteed Results