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Allied Market Research

Smart Workplace Market by Component (Solution and Services), Deployment (On-premises and Cloud), Product (Smart Lighting, Security Systems, Energy Management Systems, and HVAC Control Systems), Organization Size (Small- & Medium-Sized Enterprises and Large Enterprises), Office Type (Retrofit Offices and New Construction Offices), Communication Technology (Wireless Technologies and Wired Technologies), and Industry Vertical (BFSI, Healthcare & Life Sciences, Telecommunications &IT, Government & Public Sector, Manufacturing, Consumer Goods & Retail, Media & Entertainment, and Others): Global Opportunity Analysis and Industry Forecast, 2020–2027

A09902
Pages: NA
Jan 2021 | 79 Views
 
Author(s) : NA
Tables: NA
Charts: NA
 

COVID-19

Pandemic disrupted the entire world and affected many industries.

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Smart Workplace Market Insight

A smart workplace is a workplace where technology integrates with solutions to enable people to work better, faster, and smarter. Beacons, sensors, and mobile apps help employees perform menial tasks better and faster, providing them enough time to focus on growing businesses and innovating. Furthermore, in a smart workplace, technology helps people to communicate better. For instance, sensors can tell if a person is in the building, where exactly they are at any given moment and even if a certain conference room is booked and for how long. Advantages of smart workplace are it attracts and retains staff, creates a collaborative culture, provides a better customer service, unites workforce, captures business IP, boosts customer privacy, cuts costs structure, and breaks down data silos.

Smart Workplace Market Scope and Structure Analysis:

Report Metric

Details

  Market size available for years

  2020–2027

  Base year considered

  2019

  Forecast period

  2021–2027

  Forecast units

  Value ($)

  Segments covered

Component, Product, Office Type, Communication Technology, Organization Size, Industry Vertical, and Regions

  Regions covered

North America (U.S. and Canada), Europe (Germany, UK, France, and the Rest of Europe), Asia Pacific (China, Japan, India, and the Rest of Asia Pacific), Latin America (Brazil, Mexico, and the Rest of LATAM), and Middle East and Africa

  Companies covered

Major players analyzed in the market include ABB Ltd., Cisco Systems Inc., Crestron Electronics, Inc., Honeywell International Inc., Johnson Controls International PLC, Lutron Electronics Co. Inc., Schneider Electric S.A., Siemens AG, Philips Lighting Holding B.V., and United Technologies Corporation.

 

Impact of COVID-19 on Smart Workplace Market:

  • Organizations are currently experiencing precipitous decline in demand for their products or services, forcing them to consider the warehousing and logistics end of their operations, and to take a hard look at core services.
  • Teleworking is currently the work mode of choice for many companies wanting to maintain operations in the face of the new coronavirus.
  • Smart/digital workplaces need huge investment initially. This may reduce the adoption of smart/digital workplace for the time being due to the economic depression brought about by COVID-19.
  • Top impacting factors: market scenario analysis, trends, drivers, and impact analysis

Smart workplace market is driven by the need of energy savings at the workplace, better productivity by using new technologies tools for data storing and communications, reduce cost, and make optimum use of resources available at workplace. The increasing demand for flexibility in working and agility in business is another factor, which is driving the market for smart workplace. Teleworking trend is also surging the adoption of smart workplace as it saves time of the employees commuting from home to workplace and can utilize that time working from home. Penetration of artificial intelligence, machine learning, and data analytics in the smart offices is propelling the growth of smart workplace market. However, complexity in replacing or upgrading the existing system is hindering the growth of smart workplace market. Contrarily, evolving cloud-based environment and integration of internet of things technology in organizations is expected to create various opportunities for the smart workplace market in the forecasted years.

Usage of smart workplace for security measures

Organizations are enhancing their security by monitoring the individuals within the premises. It is easy to distinguish visitors from employees using a smart office system. The introduction of ID trackers and facial recognition software in the workplace is the cornerstone of office security. Plus, technology can also help monitor the time an employee spends doing actual work, irrespective of whether they work in office or remotely.

Adoption of artificial intelligence in smart workplace

Building an AI powered digital workplace can encourage end users to adopt a new data-driven way of working as their new toolset provides added value out-of-the-box and enables them to do more by integrating smart platforms. Also, AI driven voice enabled virtual assistants in the office is increasing as end users are getting aware about the benefits of AI integration in business solutions. AI is also used to gain insights from unused data, video communication, better performance management, and enhancing sales productivity. This factor will create opportunity in the global smart work place market globally in forecast period of time.

Key segments covered:

Segments

Subsegments

  Component

  • Software
  • Services

  Product

  • Smart Lighting
  • Security Systems
  • Energy Management Systems
  • HVAC Control Systems

  Office Type

  • Retrofit Offices
  • New Construction Offices

  Communication Technology

  • Wireless Technologies
  • Wired Technologies

  Organization Size

  • Small- & Medium-sized Enterprises
  • Large Enterprises

  Industry Vertical

  • BFSI
  • Healthcare & Life Sciences
  • Telecommunications & IT
  • Government & Public Sector
  • Manufacturing
  • Consumer Goods & Retail
  • Media & Entertainment
  • Others

 

Key benefits of the report:

  • This study presents the analytical depiction of the global smart workplace industry along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global smart workplace market share.
  • The current market is quantitatively analyzed from 2021 to 2027 to highlight the global smart workplace market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
  • The report provides a detailed global market analysis depending on competitive intensity and how the competition will take shape in coming years.
 
With collective industry experience of about 200 years of its analysts and experts, Allied Market Research (AMR) encompasses most infallible research methodology for its market intelligence and industry analysis. We do not only engrave the deepest levels of markets but also sneak through its slimmest details for the purpose of our market estimates and forecasts. Our approach helps in building greater market consensus view for size, shape and industry trends within each industry segment. We carefully factor in industry trends and real developments for identifying key growth factors and future course of the market. Our research proceeds are the resultant of high quality data, expert views and analysis and high value independent opinions. Our research process is designed to deliver balanced view of the global markets and allow stakeholders to make informed decisions.

We offer our clients exhaustive research and analysis based on wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics and regional intelligence. Our in-house industry experts play instrumental role in designing analytic tools and models, tailored to the requirements of particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of our recommendations and advice. With AMR’s calibrated research process and 360` degree data-evaluation methodology, our clients are assured of receiving:

  • Consistent, valuable, robust and actionable data & analysis that can easily be referenced for strategic business planning
  • Technologically sophisticated and reliable insights through well audited and veracious research methodology
  • Sovereign research proceeds that present a tangible depiction of marketplace


With a strong methodology we are, therefore, confident that our research and analysis are most reliable and guarantees sound business planning.

Secondary research
We refer a broad array of industry sources for our secondary, which typically include; however, not limited to: Company SEC filings, annual reports, company websites, broker & financial reports and investor presentations for competitive scenario and shape of the industry

  • Patent and regulatory databases for understanding of technical & legal developments
  • Scientific and technical writings for product information and related preemptions
  • Regional government and statistical databases for macro analysis
  • Authentic new articles, web-casts and other related releases for market evaluation
  • Internal and external proprietary databases, key market indicators and relevant press releases for market estimates and forecast


Primary research
Our primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks and face-to-face interactions. We are also in professional corporate relations with various companies that allow us greater flexibility for reaching out industry participants and commentators for interviews and discussions, fulfilling following functions:

  • Validates and improves the data quality and strengthens research proceeds
  • Further develops analyst team’s market understanding and expertise
  • Supplies authentic information about market size, share, growth and forecasts


Our primary research interview and discussion panels are typically composed of most experienced industry members. These participants include; however, not limited to:

  • Chief executives and VPs of leading corporations specific to industry
  • Product and sales managers or country heads; channel partners and top level distributors; banking, investments and valuation experts Key opinion leaders (KOLs)


Analyst tools and models
AMR has developed set of analyst tools and data models to supplement and expedite the analysis process. Corresponding to markets, where there is significant lack of information and estimates, AMR’s team of experts and analyst develop specific analyst tools and industry models to translate qualitative and quantitative industry indicators into exact industry estimates. These models also allow analysts to examine the prospects and opportunities prevailing in the market to accurately forecast the course of the market.
 
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