Major players in the smart workplace market are Carrier, Honeywell, Johnson Controls, Daikin Industries, General Electric, Philips Lumileds, Acuity Brands, LG Electronics, OSRAM, RavenWindow, Schneider, Research Frontiers, NICE Systems, SAGE Electrochromics, Bosch Security Systems, Cisco Systems, Inc, Siemens AG, Kronos Incorporated, ATOSS Software AG, and Teem Technologies.
The global smart workplace market is expected to grow from $29.39 billion in 2020 to $33.55 billion in 2021 at a compound annual growth rate (CAGR) of 14.15%.. The growth is mainly due to the emergence of smart cities and the increasing adoption of energy efficient solutions. The market is expected to reach $53.36 billion in 2025 at a CAGR of 12.31%.
The smart workplace market consists of sales of technologies, services and solutions by entities (organizations, sole traders, and partnerships) that connect and engages the employees with their workplace. Smart workplace uses technology and networking to enable people for working better, faster, and smarter and also helps in improving productivity and collaboration between people.
The main types of products for the smart workplace market are smart light, security systems, energy management systems, heating, ventilation, and air conditioning (HVAC) control systems, and audio-video conferencing systems.Smart lights are a lighting technology in the smart workplaces that is connected to the internet and can be controlled remotely, through voice-assistants and are capable of making decisions and following schedules.
Security systems are the security tools in the smart workplace which include alarm systems, door access hardware, video cameras, contact sensors and others to ensure safety in the workplace.Energy management systems are the systems that deliver and manage the energy requirements of the smart workplace.
These systems reduce energy wastage and energy consumption and also optimize energy usage to reduce cost.HVAC control systems are the devices that control the operation of air conditioning, heating, and ventilation in a smart workplace, audio-video conferencing systems are used in the smart workplace to hold a video and audio call.
The offices used in the smart workplace market are retrofit buildings and new construction offices. These solutions are used by software, services, and managed services.
North America is the largest region in the smart workplace market in 2020.Asia-Pacific is expected to grow faster in the forecast period.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The launch of a new platform for developing a virtual representation of a physical environment is a key trend in the smart workplace market.In June 2020, Infogain, a USA-based company that is engaged in designing smart workplace solutions launched Azure Digital Twins that is a platform for developing a virtual representation of a physical environment.
Azure digital twins uses the Azure IoT hub to connect the sensors and other IoT devices that keep everything up-to-date with the physical world. XXX
In September 2020, Securitas, an intelligent protective services company has announced the acquisition of STANLEY security electronic security businesses in five countries Germany, Portugal, Switzerland, Singapore, and India for an undisclosed amount.The acquisition aims to double Securitas security solutions and electronic security business and add significant electronic security expertise to deepen the capabilities in Switzerland and Portugal along with establishing the first electronic security presence in Singapore and India.
STANLEY Security is a USA-based company that is engaged in providing a wide range of smart security systems and value-added services like video surveillance.
The increase in demand for smart equipment is expected to drive the smart workplace market in the forecast period.There is an increasing need for smart equipment in workplaces for data security, to make work easier, for an environmentally friendly workplace and for reducing energy costs.
For instance, the smart lighting market is expected to increase twofold from $11.07 billion in 2020 to $22.57 billion by 2025. The increasing smart equipment demand would boost the smart workplace market forward.
The countries covered in the smart workplace market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
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