Smart Workplace Market to grow by USD 28.66 billion between 2022 - 2027 | Growth Driven by the need for energy conservation - Technavio

NEW YORK, Oct. 10, 2023 /PRNewswire/ -- The Smart Workplace Market report has been added to Technavio's offering. With ISO 9001:2015 certification, Technavio has proudly partnered with more than 100 Fortune 500 companies for over 16 years. The potential growth difference for the smart workplace market between 2022 and 2027 is USD 28.66 billion. The need for energy conservation drives the smart workplace market. Smart buildings, including smart workplaces, extensively use advanced engineering technologies and systems that monitor and control daily energy consumption in real-time. This will help in regulating daily power usage. Such an integration of the system environment in smart workplaces enables the achievement of energy-efficiency standards enforced in different countries. Hence, such factors drive the growth of the market during the forecast period. Get deeper insights into the market size, current market scenario, future growth opportunities, major growth driving factors, the latest trends, and much more. Buy the full report here

• Market Challenge - High initial investments associated with smart workplace solutions challenge the growth of the smart workplace market. There is a huge investment associated with the setting up of a smart workplace. These investments are both in new buildings and existing buildings. Since smart workplaces involve technologically advanced equipment, the procurement and installation of this equipment can be costly for SMEs and large construction companies. Hence, such factors impede the growth of the smart workplace market during the forecast period. Learn about additional key drivers, trends, and challenges available with Technavio. Read the free Sample PDF Report Now

The smart workplace market is segmented by Type (New buildings and Retrofitting), Component (Solution and Services), and Geography (Europe, North America, APAC, South America, and Middle East and Africa). 

• The new buildings segment is significant during the forecast period. The growing popularity of smart workplaces in new office buildings since 2022 resulted in increasing investment in the development of smart workplaces by several organizations due to the growing focus on attaining energy and operational efficiency.
• By geography, North America is estimated to contribute 33% to the growth of the global market during the forecast period. View the Free Sample Report for insights into the contribution of all the segments and regional opportunities in the report.

Key Companies in the Smart Workplace Market:

ABB Ltd., Avnet Inc., Cisco Systems Inc., Coor Service Management Holding AB, Crestron Electronics Inc., DEKOM AG, Develco Products AS, Eptura Inc., GoBright B V, Honeywell International Inc., Johnson Controls International Plc, Komstadt Systems Ltd., Konig Neurath AG, Koninklijke Philips N.V., Lutron Electronics Co. Inc., Martela Oyj, Schneider Electric SE, Siemens AG, Signify NV, Verizon Communications Inc.

Related Reports:

The Global Corporate Wellness Market Size is estimated to grow at a CAGR of 8.12% between 2022 and 2027. The corporate wellness market size is forecast to increase by USD 29,208.51 million.

The digital workplace market size is estimated to grow at a CAGR of 22.73% between 2022 and 2027. The market size is forecast to increase by USD 59,283.64 million.

ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by Component

Market Segmentation by Application

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

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