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Smart Office Market Worth 46.11 Billion USD by 2023
[October 05, 2017]

Smart Office Market Worth 46.11 Billion USD by 2023


PUNE, India, October 5, 2017 /PRNewswire/ --

According to a new market research report "Smart Office Market by Product (Smart Lighting/Lighting Controls, Security Systems, Energy Management Systems, HVAC Control Systems, Audio-Video Conferencing Systems), Software & Service, Office Type, and Geography - Global Forecast to 2023", published by MarketsandMarkets™ , the market was valued at USD 22.21 Billion in 2017 and is expected to reach USD 46.11 Billion by 2023, at a CAGR of 12.94% between 2017 and 2023. Factors such as increase in demand for smart office solutions and sensor networks for energy efficiency, advancement of IoT in smart office offerings, growing need for safety and security systems at the workplace, and favorable government regulations in several countries are driving the growth of the smart office market.

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Browse 68 Market Data Tables and 44 Figures spread through 155 Pages and in-depth TOC on "Smart Office Market - Global Forecast to 2023"


http://www.marketsandmarkets.com/Market-Reports/smart-connected-offices-market-254310598.html

Early buyers will receive 10% customization on this report

The energy management system segment is expected to witness the highest growth rate during the forecast period 

The market for the energy management system segment is expected to grow at the highest CAGR between 2017 and 2023. The rising energy consumption, energy price volatility, integration of applications over a single platform across the commercial sector, and increasing need for digitization of the energy infrastructure are the driving factors for the growth of the EMS in the smart office market.

The market for service segment is expected to grow at the highest rate during the forecast period 

The market for service segment is expected to grow at the highest rate during the forecast period. The services segment is further divided into advisory and consulting services, installation and support services, and managed services that directly maximize the network performance and uptime, minimize the operational risk, and significantly reduce the capital and operational expenditures, thus resulting in a hig demand for services in the smart office market.

Download PDF Brochure : http://www.marketsandmarkets.com/pdfdownload.asp?id=254310598

The market for product in APAC is expected to grow at the highest rate during the forecast period 


APAC is expected to be the fastest-growing region for products in the smart office market, followed by RoW during the forecast period. China and India are the fastest-growing economies that are witnessing a rapid penetration of Internet of Things (IoT) in APAC. The high adoption of modern technologies for energy saving, reduce the operational cost, and to increase the security level at workplaces increases the demand for smart office solutions, thus making APAC the fastest-growing region for smart office product market.

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The major players operating in the smart office market include ABB, Cisco Systems, Crestron Electronics, Honeywell, Johnson Controls, Philips Lighting, Lutron Electronics, Schneider Electric, Siemens, and United Technologies Corporation.

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About MarketsandMarkets™  

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

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