Smart Office Market to Grant Innovative Business Connectivity Solution & Manage Routine Office Tasks on Demand

Global Smart Office Market - By Product (Smart Lighting, Security and Access Control Systems, Energy Management Systems, Smart HVAC Control Systems, Audio Video Conferencing Systems, Fire and Safety Control Systems), Building Types (Retrofits, New Buildings) and Region - Growth, Trends and Forecasts (2018 - 2023)

Dallas, United States - April 17, 2018 /MarketersMedia/ —

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.

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).

Request sample copy of Smart Office Market at:
http://orbisresearch.com/contacts/request-sample/2095216

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.

Read details of the report at: http://orbisresearch.com/reports/index/global-smart-office-market-analysis-of-growth-trends-and-forecasts-2018-2023

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

Smart 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.

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.
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.

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.

Enquire more details of the report at: http://orbisresearch.com/contact/purchase/2095216

Contact Info:
Name: Hector Costello
Email: sales@orbisresearch.com
Organization: Orbis Research
Address: 4144N Central Expressway, Suite 600
Phone: +1 (214) 884-6817

Source URL: https://marketersmedia.com/smart-office-market-to-grant-innovative-business-connectivity-solution-manage-routine-office-tasks-on-demand/331879

For more information, please visit http://orbisresearch.com/reports/index/global-smart-office-market-analysis-of-growth-trends-and-forecasts-2018-2023

Source: MarketersMedia

Release ID: 331879

Latest News

Netflix has no plans to cut 'Bird Box' scene despite outcry

Jan 18, 2019

NEW YORK — Netflix's post-apocalyptic survival film "Bird Box" is drawing criticism for using footage of a real fiery train disaster but the streaming giant has no plans to remove it. The footage concerns a 2013 tragedy in the Quebec town of Lac-Megantic when an unattended train carrying crude oil rolled down an incline, came off the tracks and exploded into a massive ball of fire, killing 47 people. Netflix licensed the footage of the disaster from the stock image vendor Pond 5 and used it in "Bird Box" in an early TV news montage to set up its horrific...

Vuitton's Abloh celebrates Michael Jackson in Paris menswear

Jan 18, 2019

PARIS — Louis Vuitton's designer Virgil Abloh transported celebrity guests at Paris Fashion Week to the graffitied streets of New York in a dramatic menswear ode to Michael Jackson. Abloh, the first African-American to head a major European fashion house, used his unique platform Thursday to celebrate one of America's most globally recognized and celebrated black performers. Here are some highlights of Thursday's fall-winter shows. LOUIS VUITTON GOES OFF THE WALL Model Naomi Campbell and actors Timothee Chalamet and Joel Edgerton seemed amazed to discover a reconstructed cityscape that evoked the King of Pop's famed music videos, all inside the...

Study of Leonardo's 1st landscape finds he had 2nd thoughts

Jan 18, 2019

ROME — The first-ever scientific study of the oldest known drawing by Leonardo da Vinci has found that he added details to an earlier sketch of a countryside landscape, said the Uffizi Galleries, whose collections include the fragile work. The Galleries said the 1473 "Landscape Drawing for Santa Maria della Neve" was taken on Thursday to a Florence restoration laboratory for study, which began right away with microscopic examination. Aided by sophisticated, non-invasive instruments, such as infrared light, the experts on Thursday scrutinized the front of the drawing. Later they will study the back, where there is a sketch of...

Grammys performers: Cardi B, Kacey Musgraves, Janelle Monae

Jan 18, 2019

NEW YORK — Album of the year nominees Cardi B, Kacey Musgraves, Janelle Monae and Post Malone will perform at next month's Grammy Awards. The Recording Academy announced Thursday that Shawn Mendes, Camila Cabello and Dan + Shay will also hit the stage at the Feb. 10 event. The Grammys will air live on CBS from the Staples Center in Los Angeles. Others battling Cardi B, Musgraves, Monae and Malone for album of the year are Drake, Brandi Carlile, H.E.R. and the Kendrick Lamar-curated "Black Panther" soundtrack. Lamar is the top contender with eight nominations, followed by Drake, who is...

And the nominees won't be (but should be) ...

Jan 18, 2019

NEW YORK — By its nature, awards season tends to winnow a field of films and performances until many of the same names are read week after week, award show after award show, leading up to the Academy Awards. It's a process that always leaves deserving nominees left out for lack of buzz, awareness or box office. When the Oscar nominations are announced Tuesday, there will surely be much to celebrate and a handful of surprises. But it will inevitably, necessarily be a reductive list that omits many of the high points of what was an awfully good year for...

Search
Broaden

Asean Scoop delights in the creative world of the Entertainment industry providing an inside look on various aspects.

Contact us: sales@aseanscoop.com