Smart and Connected offices Market

Date: 2/23/2015

Smart and Connected Offices Market Is Estimated To Reach $43.31 Billion By 2020, At A CAGR Of 10.70% From 2014 To 2020

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  • Publishing Date: October 2014
  • Report Code: SE 2810

Smart and Connected Offices Smart and connected office is a concept where network based devices is used for all the work in the company offices. This concept enables employees to undertake routine office tasks more efficiently and effectively due to reduction in power consumption and increased coordination between the different functions in the organization. Smart office products help in promoting efficient use of available resources and also ensure sustainability through use of ecofriendly processes. The global smart and connected office market is primarily driven by the increasing need of low cost and environment friendly operations in the offices.

Smart and Connected offices Market is estimated to reach $43.31 billion by 2020, at a CAGR of 10.70% from 2014 to 2020. The Americas is the major market for smart office systems; however, Asia-Pacific is expected to grow at the highest CAGR of 12.32% from 2014 to 2020.The verticals market for the smart office systems can be divided into retrofit and new building type markets. The product segment for smart offices market includes smart lighting systems, security and access control systems, energy management systems, smart HVAC control systems, audio-video conferencing systems, fire and safety control systems, and others.

The major players in the smart offices market are Siemens AG (Germany), Johnson Controls Inc. (U.S.), Koninklijke Philips N.V. (The Netherlands), Cisco Systems Inc. (U.S.), ABB Ltd. (Switzerland), Schneider Electric S.A. (France), Honeywell International, United Technologies Corporation (U.S.), Cestron Electronics Inc.(U.S.) and Lutron Electronics Co. Inc. (U.S.) among others.



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