Smart Workplace Market Analysis Forecasts

Smart Workplace Market Insights:

Global smart office concept is anticipated to grow rapidly over the forecast period owing to the increasing demand for seamless connectivity. In these offices, network-based devices are used for all the company offices. It improves the effectiveness of the employees due to the reduction in power consumption and coordination between other activities of the organization.

Smart office products help in increasing efficiency of available resources along with ensuring sustainability with the help of eco-friendly processes. The growth of this industry is due to its increasing low cost and environment-friendly operations in the offices. This industry has been powered by technologies and solutions which is composed of a smart workforce, intelligent environment, and smart components.

Secure data exchange and connected network in the office is the main challenge while setting up this office. Adoption of smart office in organizations is done mainly to allow seamless integration in multiple locations to have seamless connectivity. It gives an efficient data collection process of the activities done by the employees of the company to create better work environment.

Smart Workplace Market - Product Insights:

Smart lighting is designed for energy efficiency which may involve automated controls and efficiency fixtures that make adjustments based on daylight availability or occupancy. Task lighting, general lighting, and accent lighting are some of the common types of smart lighting used in buildings. Smart security systems and HVAC control are the other products in the Smart Workplace Market which is expected to see high demand in the forecast period.

Smart Workplace Market - Building Type Insights:

Efficient and intelligent use of workplace is the focus of industries these days. Modern workplace or the new buildings provide better environment, unlike traditional workplaces. These designs are flexible and scalable enough to reduce wastage of empty or unused space. The modern workplace provides technologies such as sensors, software, networked information, and connected infrastructure among others.

The goal of such workplaces is to provide comfort to individual workers and user coupled with factors such as improving the quality of work, saving energy, and following deadlines. The new building segment had the highest share in the Smart Workplace Market in 2016. Organizations invest more in the development of smart workplace owing to operational efficiency and attaining energy.

Retrofitting is the process of upgrading old buildings and making them energy efficient. Adding modern equipment and electronic devices which gives the workplace more sustainability is the focus of the industry. Various eco-friendly methods encourage the investors to move to green features.

Modification of existing commercial buildings is also in demand due to the energy efficiency or decrease energy demand. Energy efficiency retrofits reduce operation costs in old buildings and provide distributed energy to a building.

Smart Workplace Market - Regional Insights:

North America presently holds the largest Smart Workplace Market share globally due to the adoption of new technologies and rules for the sustainable workplace in the region. Asia Pacific is expected to grow at a fast rate by the end of the forecast period. Adaptability of this market in the other regions is expected to be slow as compared to above-mentioned regions.

Smart Workplace Market - Competitive Insights:

Presence of a large number of regional and international vendors across the globe has made the Smart Workplace Market fragmented and diversified. Large companies, multi-national companies, and organizations are looking at procurement of smart workplace solutions from the well-established companies in the Smart Workplace Market.

Key players in the Smart Workplace Market include ABB, AB Electrolux, Bosch Thermotechnik, Fujitsu, Midea, Gree Electric Appliances, Haier, Hitachi, Lennox International, Nortek, Paloma Industries, Samsung, Siemens, Vaillant, Advanced Lighting Technologies, Bridgelux, Cree, Dialight, Eaton, Emerson Electric, EVERLIGHT ELECTRONICS, MLS Electronics, Toshiba Lighting and Technology, Toyoda Gosei, Anixter, ASSA ABLOY, AxxonSoft, FLIR Systems, Genetec, ChromoGenics, Diamond Glass, EControl-Glas, Gesimat, GlasNovations, Heliotrope Technologies, Hitachi Chemical, Pleotint, Polytronix, Scienstry, and Vista Windows among others.

Please note: This is not an exhaustive list of companies profiled in the report.