Smart Workplace Market

The global Smart Workplace market was valued at USD 1023 Million in 2020 and is projected to reach USD 1563 Million by 2028, growing at a CAGR of 8.2% from 2021 to 2028.

Smart working is known as a new model of work that uses the new technologies and the development of existing technologies to improve both the performance and the satisfaction that is obtained from the job. It should not be confused with the term co-working, which refers to a shared workspace, usually by self-employed professionals.

This report provides an analysis of the Smart Workplace market for the historic period of 2016–2019 and forecasts for 2021–2028 while 2020 is considered as a base year for estimations. The report includes exhaustive analysis of segments, regions and countries comprising of market size and estimations in terms of revenue for the years 2016–2028. There regional section of the report is bifurcated into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Moreover, the report also covers exhaustive information on growth factors/drivers, restraints, opportunities, regulatory landscape and technology roadmap among others. Moreover, the report also includes exhaustive SWOT analysis, PEST analysis, value chain analysis, and Porter’s five forces analysis on Smart Workplace market. This data is likely to help the industry stakeholders and stimulate the decision-making process.

The COVID-19 outbreak has affected various industries worldwide. The Smart Workplace market is no exception. Governments across the world took severe actions like border seals, lockdown, and implementing strict social distancing measures, in order to stop swift spread of COVID-19. These actions led to severe impact on the global economy. Industrialist across the globe were forced to halt their production, leading to supply chain disruptions and impairing of various industries. However, it is expected that reopening of trade activities, the market will witness steady growth in demand in the coming years. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends for all the regions and countries.

The report provides a completely separate chapter for COVID-19 Impact Analysis. This chapter includes:

o   Impact Assessment of COVID-19 Pandemic

o   Pre & Post COVID-19 Market Size

o   Qualitative analysis on the short term & long-term impact of COVID-19 on the market

o   The analysis provides foremost strategies adopted by competitors to minimize the impact of the pandemic on their business activities and scope for future developments.

The facility staff productivity is enhanced due to anytime, anywhere data access. This usually helps clients optimize resource strength across sites while improving service levels. The provision of on-demand reports reduces the need of manual collation and documents maintenance at multiple sites. Exception-based management ensures that stakeholders get alerted only when their intervention is needed. 

Automation of office space is critical in these times as it can lead to optimized use of desks and meeting rooms. Flexi-seating will accommodate new employee personas like “always working from office”, “fluid or rotational staff” and “always working from home/remote” etc. that are emerging post-pandemic while providing an opportunity for oversubscription to even up to 50%. 

Lack of technical awareness among employees is the major restraining factor. It can be resolved by giving proper training to the employees.

The report delivers an acute breakdown of the market based on various segments such as Type, Application, , and region. The report includes market size and forecast for each segment by region/country for the years 2016–2028. Moreover, it also covers a thorough analysis of growth factors and opportunities impacting segmental growth.

On the basis of Type, the market is divided into Smart HVAC, Smart Lighting, Smart Security, Smart Thermostats, Smart Windows, Others. Smart HVAC dominated the global Smart Workplace market in 2020 and is projected to witness the same trend during the forecast period.

Based on Application, the market is segmented into New Buildings, Retrofitting. New Buildings accounted for the highest market share and is expected to grow at a significant CAGR from 2021 to 2028. 

Based on the geography, the global Smart Workplace market is segmented into North America, Latin America, Asia Pacific, Europe, and the Middle East & Africa. Moreover, the regional sections if further bifurcated into key country level markets for better understanding of the market.

The report covers detailed analysis on drivers, business opportunities, regulatory norms, supplier concertation and such other factors impacting regional growth. Moreover, it also covers market estimations and forecast for each segment for each region for the years 2016–2028. 

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • UK
  • France
  • Germany
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Rest of Latin America
• Middle East and Africa
  • GCC Countries
  • South Africa
  • Rest of MEA

The global Smart Workplace market report provides an exhaustive competitive landscape to give a comprehensive synopsis of the global market. Major players in the Smart Workplace market are Johnson Controls, NICE Systems, Schneider Electric, Daikin Industries, Carrier, OSRA, Philips Lumileds, SAGE Electrochromics, Bosch Security Systems, Research Frontiers..  This section of the report provides in depth analysis on key market players based on various parameters such as business overview, portfolio analysis, business strategies, financial performance, geographical presence, and recent developments among others. It will also include information on key strategies adopted by major market players. 

• The global Smart Workplace market was valued at USD 1023 Million in 2020
• The global Smart Workplace Market is projected to reach USD 1563 Million by 2028
• North America held the highest share of the Smart Workplace market in 2020
• Some of the major companies operating in the Smart Workplace market are Johnson Controls, NICE Systems, Schneider Electric, Daikin Industries, Carrier, OSRA, Philips Lumileds, SAGE Electrochromics, Bosch Security Systems, Research Frontiers.