The smart workplace global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Smart Workplace Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The smart workplace market size has grown rapidly in recent years. It will grow from $40.91 billion in 2023 to $45.34 billion in 2024 at a compound annual growth rate (CAGR) of 10.8%. The growth in the historic period can be attributed to customization and personalization, flexible and agile workspaces, flexible work environments, energy efficiency and sustainability, .
The smart workplace market size is expected to see rapid growth in the next few years. It will grow to $73.03 billion in 2028 at a compound annual growth rate (CAGR) of 12.7%. The growth in the forecast period can be attributed to focus on employee experience and wellness, cognitive collaboration, data privacy and compliance, zero trust security model, employee analytics.. Major trends in the forecast period include adoption of iot for workplace connectivity, occupancy and space utilization monitoring, voice-activated and gesture-controlled interfaces, enhanced security and access control, real-time collaboration tools and unified communications..
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Scope Of Smart Workplace Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Market Drivers –
The increasing number of IoT-linked devices is expected to boost the growth of the smart workplace market going forward. IoT-linked devices refer to nonstandard computing devices that connect wirelessly to a network and have the ability to transmit data. IoT devices create a highly interconnected workplace, enabling seamless communication and data sharing between devices and systems, leading to increased workplace efficiency. For instance, in November 2022, according to a report published by Ericsson, a Sweden-based telecommunication company, broadband IoT (4G/5G), which connects the majority of cellular IoT devices, reached 1.3 billion connections in 2022. Nearly 60% of cellular IoT connections are anticipated to be broadband IoT connections by the end of 2028, with 4G connecting the bulk. In terms of cellular IoT connections, North East Asia is currently in the lead; in 2023, it is predicted to surpass 2 billion connections. Therefore, the increasing number of IoT-linked devices is driving the growth of the smart workplace market.
Market Trends –
Product innovations have emerged as the key trend gaining popularity in the 5G chipset market. The major players in the market are developing innovative products for market growth. For instance, in June 2021, Samsung Electronics, a South Korea-based electronics company, developed 3GPP Rel.16 compliant chipsets, a range of next-generation 5G chipsets that deliver cutting-edge 5G technologies. The new chipsets consist of a second-generation 5G modem System-on-Chip (SoC), a third-generation mmWave Radio Frequency Integrated Circuit (RFIC) chip, and a Digital Front End (DFE)-RFIC integrated chip. These are designed to increase power efficiency, boost performance, and reduce the size of 5G solutions.
The smart workplace market covered in this report is segmented –
1) By Product: Smart Light, Security Systems, Energy Management systems, HVAC Control Systems, Audio-Video Conferencing Systems
2) By Office Type: Retrofit Buildings, New Construction Offices
3) By Solution: Software, Services, Managed Services
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Regional Insights –
North America was the largest region in the smart workplace market in 2023. Asia-Pacific is expected to grow faster in the forecast period. The regions covered in the smart workplace market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Key Companies –
Major companies operating in the smart workplace market report are Carrier Corporate, Honeywell International Inc., Johnson Controls, Daikin Industries, General Electric Company, Philips Lumileds, Acuity Brands, LG Electronics, OSRAM Licht AG, RavenWindow, Schneider Electric SE, Research Frontiers, NICE Systems, SAGE Electrochromics, Bosch Security Systems, Cisco Systems Inc., Siemens AG, Kronos Incorporated, ATOSS Software AG, Teem Technologies, Crestron Electronics Inc., Axis Communications, Koninklijke Philips NV, United Technologies Corporation, Signify NV, Verizon Communications Inc., Martela Oyj, Microsoft Corporation, Google LLC, Amazon Web Services Inc., Oracle Corporation
Table of Contents
1. Executive Summary
2. Smart Workplace Market Report Structure
3. Smart Workplace Market Trends And Strategies
4. Smart Workplace Market – Macro Economic Scenario
5. Smart Workplace Market Size And Growth
…..
27. Smart Workplace Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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