Lucintel anticipates that Asia Pacific will be the fastest growing region in the smart office market

   October 21, 2019
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.

To download report brochure, please go to and click "report brochure" tab from the menu.

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

    • Smart Thermostats

  • 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

    • UK

    • Germany

    • Italy

  • Asia Pacific

    • China

    • Japan

    • India

  • 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 or

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

Lucintel Corporate Customers

Market Entry, M & A, Opportunity Screening,...

Private Equity Customers

Buy Side Services (target screening, due diligence, ..)

Market Research Reports

Aerospace & Defense [53]
Chemical [264]
Composites & Advanced Materials [171]
Construction & Industrial [76]
Consumer and Retail [140]
Economic Analysis [86]
Energy & Utility [73]
Finance & Services [10]
Healthcare [79]
Media & Entertainment [16]
Metals & Mining [17]
Technology & Telecommunication [166]
Transportation [143]

Customer Quotes

"With more than 20 years experience in the industry, this is the first time we have come across such an extensive market analysis for our industry." Ven Cote, CEO, ZCL

"The insights we gained from Lucintel work helped with our business plan…a wonderful professional job…" Mike Jackson, Stahlin

"The report from Lucintel is useful not only for business planners, but also for the technology officers wanting to create a roadmap …" Dr. Giulio Ranzo, Booz Allen

"The information is so comprehensive, it has allowed us to identify & focus our business development efforts. It saved months of leg-work." Bill Barz, L&L Products

"We bought Lucintel report because it is the best report about our industry…a complete and appropriate analysis." Cesare Andrenacci, Ferretti

Quick Query

Lucintel Insights in News

Follow us on