Smart Workplace Market Share Estimated to Lock an Ineffaceable Growth | 13% CAGR Through 2023

Market Highlights

Market Research Future (MRFR) expects the global smart workplace market to touch a valuation of approximately USD 47 Billion by 2023. The market can also achieve a growth rate of 13% during the review period, which is from 2017 to 2023.

Primary Drivers and Key Barriers

With the emergence of advanced technologies as well as gadgets such as tablets, laptops, LED monitors along with improved internet connectivity, the traditional workplace has evolved significantly. There are no longer bulky monitors or paper works, which leads to better utilization of the space within organizations. With the prevalence of flexible working hours and the concept of work from home, employees are no longer needed to travel from distant places to their offices. They can instead work better from their home, which saves time and also enhances productivity.

Growing adoption of smart technologies like smart lighting at the workplace will also help offices save energy costs for the buildings. The global smart workplace market helps elevate the strategy & ownership, applications & cloud services, devices & mobility, collaborative services, user care and data & security, which boosts its demand across the globe. The market growth is also induced by the growing need to save energy at the workplace, demand for improved productivity with the use of modern technologies such as tools for data storing and communications.

Robust demand for flexibility at workplaces could also be another factor promoting the market growth. The requirement for more sustainable workplaces also stimulate growth of the smart workplaces market. For instance, Hewlett-Packard has turned its two working locations into a single space, which has led to substantial reduction in carbon dioxide emissions, which are toxic to the environment.

Segmentation:

The worldwide market for smart workplace has been segmented with respect to component, product, office type and communication technology.

Considering the component segment, the global smart workplace market includes software and services. The services types are installation and support services, consulting services and managed services.

The product-wise market segments are security systems, smart lighting, heating, ventilation & air conditioning control systems (HVAC), audio-video conferencing systems and energy management systems. Between these, the energy management systems sub segment can form the largest market for smart workplace market. Energy management systems help manage on-going energy and also offer energy efficient solutions, in addition to bringing down the costs, requiring no capital investment.

The office types mentioned in the report include retrofit and new construction.

Communication technology-based segments in the market are wired and wireless.

Browse Complete Report @ Smart Workplace Market Share