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

More News From Daily Tech Geek

Toxic tanneries forced to move pollute new Bangladesh site

Jul 18, 2018

SAVAR, Bangladesh — Bangladesh tanneries prepping leather for shoes, belts, wallets and purses are dumping toxic chemicals into a river at a new industrial complex more than a year after the government shut them down for poisoning a different river and using child labor. "It's killing the river. The color of the water has changed," Abdus Shakur, a local resident who works as a day laborer, told The Associated Press last week. "I have been living here for decades and the condition of the river has changed dramatically over the last year." Turning cow hides into soft, hair-free leather can...

Out of the shadows: Rohingya rape survivors' babies arrive

Jul 18, 2018

UKHIYA, Bangladesh — Tucked away in the shadows of her family's bamboo shelter, the girl hid from the world. She was 13, and she was petrified. Two months earlier, soldiers had broken into her home back in Myanmar and raped her, an attack that drove her and her terrified family over the border to Bangladesh. Ever since, she had waited for her period to arrive. Gradually, she came to realize that it would not. For the girl, a Rohingya Muslim who agreed to be identified by her first initial, A, the pregnancy was a prison she was desperate to escape....

India asks WhatsApp to prevent misuse after mob killings

Jul 18, 2018

NEW DELHI — India's government says it has asked WhatsApp to take "immediate action" to prevent the social media platform from being misused to spread rumors and irresponsible statements like those blamed for recent deadly mob attacks in the country. At least 20 people have been killed in mostly rural villages in several Indian states in attacks by mobs that had been inflamed by social media. Victims were accused in the viral messages of belonging to gangs trying to abduct children. The brutal attacks, which began in early May, have also left dozens of people injured. Although Indian authorities have...

Overcrowded bus plunges into gorge in India, killing 48

Jul 18, 2018

LUCKNOW, India — At least 48 people were killed on Sunday when an overcrowded bus plunged off a mountain road into a gorge in northern India, officials said. Chief Minister of Uttarakhand state Trivendra Rawat said the bus fell into a 213-meter- (700-foot-) deep gorge in the Himalayan foothills. He said about a dozen other people were injured and hospitalized. Police official Manoj Kumar said rescuers recovered 48 bodies from the accident site. "People were packed like sardines," said another police officer, Jagat Ram Joshi. He said at least seven of the injured were in critical condition. Earlier, rescue and...

Austrian mountaineer dies in avalanche on Pakistan mountain

Jul 18, 2018

ISLAMABAD — One member of a three-man mountaineering expedition has died in an avalanche on a more than 7,000-meter (7,658-yard) high peak in northern Pakistan, officials said Saturday. Karrar Haidri, secretary of Alpine Club of Pakistan, said Austrian mountaineer Christian Huber was killed when an avalanche hit the climbers' tent Friday night during a strong storm at a height of 5,900 meters (6,455 yards) on Ultar Sar Peak in the Hunza Valley. Officials said the other two mountaineers in the group, Britons Bruce Normand and Timothy Miller, suffered injuries but were safe and helicopters were being sent to rescue them....

About Us

Daily Tech Geek delivers Technology news only covering the multiple fields in the industry.

Contact us: sales[at]dailytechgeek.com

Subscribe Now!