What Transformation Has the Smart Workplace Market Undergone?
The smart workplace market has seen considerable growth due to a variety of factors.
• The market size for smart workplaces has seen a robust expansion in the recent past. Its growth trajectory indicates an increase from $44.33 billion in 2024 to $48.6 billion in 2025, with a compound annual growth rate (CAGR) of 9.6%.
Factors contributing to this growth during the historic period include customization and personalization, versatile and nimble workspaces, adaptable workenvironments, along with energy efficiency and sustainability.
How Will The Smart Workplace Market Size Evolve In The Foreseeable Future?
The smart workplace market is expected to maintain its strong growth trajectory in upcoming years.
• Rapid expansion is projected for the smart workplace market size in the coming years, with expectations for it to surge to $85.16 billion by 2029, boasting an impressive compound annual growth rate (CAGR) of 15.1%.
Several factors are believed to contribute to this growth within the expected timeframe, including an emphasis on both employee experience and wellness, cognitive collaboration, respecting data privacy and compliance, the zero trust security model, and insightful employee analytics. Key trends to observe during this forecast period include an increased reliance upon IoT for workplace connectivity, monitoring of occupancy and space utilization, the implementation of voice-activated and gesture-controlled interfaces, the advancement of security and access control measures, as well as the utilization of real-time collaboration tools and unified communications.
Which Drivers Are Accelerating Growth In The Smart Workplace Market?
The rise in IoT-linked devices is anticipated to contribute significantly to the expansion of the smart workplace market. These devices, which are nonstandard computing units that wirelessly connect to a network and have data transmission capabilities, facilitate a deeply interconnected workplace. This allows for undisturbed communication and data exchange between systems and devices, thereby enhancing workplace efficiency. As per a November 2022 report from Ericsson, a telecommunication firm based in Sweden, broadband IoT (4G/5G) - which accounts for the majority of cellular IoT device connections - reached 1.3 billion connections in 2022. By the end of 2028, it is predicted that nearly 60% of cellular IoT connections will be broadband IoT connections, with 4G being the chief contributor. Northeast Asia currently leads in cellular IoT connections and is projected to exceed 2 billion connections in 2023. Hence, the surge in IoT-linked devices is propelling the growth of the smart workplace market.
What Are The Core Segments Of The Global Smart Workplace Market?
The smart workplace market covered in this report is segmented –
1) By Product: Smart Light, Security Systems, Energy Management systems, HVAC Control Systems, Audio-Video Conferencing Systems
2) By Office Type: Retrofit Buildings, New Construction Offices
3) By Solution: Software, Services, Managed Services
Subsegments:
1) By Smart Light: Smart LED Bulbs, Smart Lighting Controls, Daylight Harvesting Systems, Motion-Activated Lighting
2) By Security Systems: Access Control Systems, Surveillance Cameras, Intrusion Detection Systems, Smart Locks
3) By Energy Management Systems: Smart Meters, Energy Analytics Software, Demand Response Solutions, Renewable Energy Integration Systems
4) By HVAC Control Systems: Smart Thermostats, Zoning Systems, HVAC Monitoring Systems, Automated Ventilation Control
5) By Audio-Video Conferencing Systems: Video Conferencing Equipment, Collaboration Software, Integrated AV Solutions, Smart Presentation Tools
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Which Emerging Trends Are Reshaping The Smart Workplace Market Size?
Key players in the smart workplace industry are innovating smart workplace applications to expand their customer reach, elevate sales, and boost earnings. These applications refer to software and technology systems that leverage data and automation to make office environments more efficient, augment productivity, and enhance the complete employment experience for workers. For example, Planon, a provider of smart workplace management platforms based in the Netherlands, introduced the Planon Workplace App in March 2023. This product's distinct feature is its ability to form a custom-made, mobile-oriented connection between people and their workspace, services, and facilities. The modernized app enriches the hybrid work experience by offering a user-friendly and personalized mobile platform. This platform enables users to effortlessly locate and reserve their preferred workspace, meeting room, and other amenities, directly make space reservations from an interactive map, effortlessly place service orders for cleaning, catering, upkeep, among other facility services, and obtain information about their coworkers, including their expected office attendance schedule.
Who Are the Key Players in the Smart Workplace Market?
Major companies operating in the smart workplace market include:
• Carrier Corporate
• Honeywell International Inc.
• Johnson Controls
• Daikin Industries
• General Electric Company
• Philips Lumileds
• Acuity Brands
• LG Electronics
• OSRAM Licht AG
• RavenWindow
• Schneider Electric SE
• Research Frontiers
• NICE Systems
• SAGE Electrochromics
• Bosch Security Systems
• Cisco Systems Inc.
• Siemens AG
• Kronos Incorporated
• ATOSS Software AG
• Teem Technologies
• Crestron Electronics Inc.
• Axis Communications
• Koninklijke Philips NV
• United Technologies Corporation
• Signify NV
• Verizon Communications Inc.
• Martela Oyj
• Microsoft Corporation
• Google LLC
• Amazon Web Services Inc.
• Oracle Corporation
What are the Regional Insights into the Smart Workplace Market?
North America was the largest region in the smart workplace market in 2024.Asia-Pacific is expected to grow faster in the forecast period. The regions covered in the smart workplace market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
