Smart Workplace Global Market To Reach Value Of About $53 Billion In 2025

20 Jul, 2021

The smart workplace market consists of sales of technologies, services and solutions by entities (organizations, sole traders, and partnerships) that connect and engages the employees with their workplace. Smart workplace uses technology and networking to enable people for working better, faster, and smarter and also helps in improving productivity and collaboration between people.

Global Smart Workplace Market Size And Drivers:

The global smart workplace market is expected to grow from $29.39 billion in 2020 to $33.55 billion in 2021 at a compound annual growth rate (CAGR) of 14.15%. The growth in the smart workplace market is mainly due to the emergence of smart cities and the increasing adoption of energy efficient solutions. The market is expected to reach $53.36 billion in 2025 at a CAGR of 12.31%. The increase in demand for smart equipment is expected to drive the smart workplace market in the forecast period.

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Trends In The Global Smart Workplace Market

The launch of a new platform for developing a virtual representation of a physical environment is a key trend in the smart workplace market. In June 2020, Infogain, a USA-based company that is engaged in designing smart workplace solutions launched Azure Digital Twins that is a platform for developing a virtual representation of a physical environment. An azure digital twin uses the Azure IoT hub to connect the sensors and other IoT devices that keep everything up-to-date with the physical world.

Global Smart Workplace Market Segments:
The global smart workplace market is further segmented based on product, office type, solution and geography.
By Product: Smart Lights, Security Systems, Energy Management Systems, HVAC Control Systems, Audio-Video Conferencing Systems
By Office Type: Retrofit Buildings, New Construction Offices
By Solution: Software, Services, Managed Services
By Geography: The global smart workplace market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America is the largest region in the smart workplace market in 2020.

Read More On The Report For The Global Smart Workplace Market At:

Smart Workplace Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides smart workplace market overviews, analyzes and forecasts market size and growth for the global smart workplace market, smart workplace market share, smart workplace market players, smart workplace market segments and geographies, smart workplace market’s leading competitors’ revenues, profiles and market shares. The smart workplace market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

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