“Smart Office Market by Product (Smart Lighting/Lighting Controls, Security Systems, Energy Management Systems, HVAC Control Systems, Audio–Video Conferencing Systems), Software & Service, Office Type, and Geography – Global Forecast to 2023″
The smart office market has been segmented into software and service. Furthermore, the service segment is divided into advisory and consulting services, installation and support services, and managed services. The demand for services is expected to grow in the future owing to the benefits such as achieving critical targets and developing a skillset for improving the internal planning and control processes. Moreover, services help in remotely managing customer’s infrastructure and/or end-user systems.
The smart office market, on the basis of office type, has been segmented into retrofit offices and new construction offices. The market for the new construction offices segment is expected to grow at a high rate between 2017 and 2023. New construction offices provide the ability to construct the new building with inbuilt smart office systems. Also, it helps in achieving eco-friendly operations due to economical use of the available resources resulting into the high demand for new construction office.
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The market for service segment is expected to grow at the highest rate during the forecast period
The market for service segment is expected to grow at the highest rate during the forecast period. The services segment is further divided into advisory and consulting services, installation and support services, and managed services that directly maximize the network performance and uptime, minimize the operational risk, and significantly reduce the capital and operational expenditures, thus resulting in a high demand for services in the smart office market.
The market for product in APAC is expected to grow at the highest rate during the forecast period
APAC is expected to be the fastest-growing region for products in the smart office market, followed by RoW during the forecast period. China and India are the fastest-growing economies that are witnessing a rapid penetration of Internet of Things (IoT) in APAC. The high adoption of modern technologies for energy saving, reduce the operational cost, and to increase the security level at workplaces increases the demand for smart office solutions, thus making APAC the fastest-growing region for smart office product market.
Smart Office Market Target Audience
- Original device manufacturers (ODMs)
- Building automation service providers
- Networking technologies vendors
- Real estate builders
- Building automation software solutions providers
- Building automation service providers
- Component suppliers
- Research organizations and consulting companies
- Sub-component manufacturers
- Technology providers
- Smart office-related associations, organizations, forums, and alliances
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