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

Hamilton wins German GP as rival Vettel crashes late on

Jul 23, 2018

HOCKENHEIM, Germany — Lewis Hamilton regained the Formula One championship lead in unexpected and dramatic fashion on Sunday, winning the German Grand Prix after race leader Sebastian Vettel crashed and then surviving an investigation into his own driving. Hamilton was summoned to speak to stewards to explain a move late in the race, where he went to the pits and then aborted his move. He escaped with a reprimand and so kept his win, his fourth this season and 66th overall. "It's been the most emotional day, up and down. No one ever wants to go see the stewards because...

The Latest: Ex-NTSB chairman: Duck boats prone to accidents

Jul 23, 2018

BRANSON, Mo. — The Latest on a deadly tourist boat accident in Missouri (all times local): 7:40 p.m. A former chairman of the National Transportation Safety Board says duck boats aren't designed for commercial recreational use. James Hall said Saturday that the boat's design makes the World War II-era vessels prone to the kind of accidents that led to the sinking of a duck boat Thursday on a Missouri lake. The sinking killed 17 people . Hall says the amphibious vessel should be banned from such use. He says he doesn't believe there's a way to make the vehicles safe,...

And now he is 5: Britain's Prince George marks birthday

Jul 23, 2018

LONDON — Who doesn't like birthdays? Britain's Prince William and his wife Kate have released a new photo of their son Prince George to mark his fifth birthday. The photo shows George grinning in the garden of Clarence House after the christening of his younger brother Prince Louis on July 9. George is third in line for the British throne. His grandfather, Prince Charles, is heir to the throne and his father William comes next. George has seemed increasingly self-assured in public this year, serving as a page boy at Prince Harry's wedding to Meghan Markle in May at Windsor...

Ryan Reynolds teases 'Deadpool 2' extended cut at Comic-Con

Jul 23, 2018

SAN DIEGO — Ryan Reynolds has made a triumphant return to San Diego Comic-Con Saturday to promote the release of a "Deadpool 2" extended cut. Speaking to a packed Hall H audience, Reynolds said that the first "Deadpool" was made because of the people in the room. The enthusiasm around footage shown at the comic book convention in 2014 convinced the studio to make it. The second movie, Reynolds deadpanned, was made because of "corporate greed and a splash of destiny." The two films have made over $1.5 billion worldwide. The "Deadpool 2: Super Duper Cut" features alternate jokes, extended...

Brewers reliever Josh Hader receives ovation back on mound

Jul 23, 2018

MILWAUKEE — Milwaukee Brewers reliever Josh Hader has received a warm ovation from fans in his first appearance on the mound since his years-old racist and homophobic tweets surfaced during the All-Star Game. The left-hander jogged in from the bullpen after the Brewers scored three runs in the bottom of the sixth to take a 4-2 lead over the Los Angeles Dodgers. He took a few warmup tosses before being introduced by the public address announcer. Most of the more than 36,000 fans attending in attendance were applauding after he was introduced, with many fans standing at Miller Park. Hader...

About Us

Buzz Online Daily brings to you the trendy and up-to-date viral news, entertainment news, and local breaking news exclusively to our dedicated readers.

Contact us: sales[at]buzzonlinedaily.com

Subscribe Now!