According to a new market report by Lucintel, the future of the smart office market looks promising with opportunities in the IT and telecom, BFSI, healthcare, and education industries. The smart office market is expected to grow with a CAGR of 12% from 2019 to 2024. The major drivers for this market are 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 workplace, and favorable government regulations in several countries.
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In this market, smart lighting/lighting controls, security systems, energy management systems, and HVAC control systems are the major applications. Lucintel forecasts that energy management system is expected to witness the highest growth over the forecast period due to rising energy price and digitalization of energy infrastructures.
Within the smart office market, retrofit offices and new construction offices are the office types. Lucintel forecasts that new construction offices will remain the largest segment over the forecast period.
APAC will remain the largest region over the forecast period.
Siemens, Schneider Electric, Johnson Controls, Honeywell International, ABB, Cisco Systems, United Technologies, Lutron Electronics, Crestron Electronics, and Philips Lighting Holding are among the major suppliers for smart office market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the smart office market by application, office type, end use industry, and region. Lucintel has prepared a comprehensive research report entitled “Smart Office Market 2019-2024: Trends, Forecast, and Opportunity Analysis.” This Lucintel report serves as a catalyst for growth strategy as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the smart office market by application, office type, end use industry, and region as follows:
By Application [$M shipment analysis for 2013 – 2024]:
Smart Lighting/Lighting Controls
Smart Bulbs
Fixtures
Lighting Controls
Security Systems
Access Controls
Surveillance Cameras/Video Surveillance
Fire and Safety Controls
Energy Management Systems
HVAC Control Systems
Control Valves
Others
By Office Type [$M shipment analysis for 2013 – 2024]:
Retrofit Offices
New Construction Offices
By End Use Industry [$M shipment analysis for 2013 – 2024]:
IT and Telecom
BFSI
Healthcare
Education
Others
By Region [$M shipment analysis for 2013 – 2024]:
North America
United States
Canada
Mexico
Europe
Asia Pacific
Rest of the World
This 150-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/smart-office-market.aspx or helpdesk@lucintel.com.
About Lucintel
Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.