DALLAS, TX / ACCESSWIRE / January 21, 2021 / According to a new market report by Lucintel, the future of the smart office market looks promising with opportunities in the IT and telecom, BFSI, healthcare, and education industries. The smart office market is expected to grow with a CAGR of 12% from 2019 to 2024. The major drivers for this market are increase in demand for smart office solutions and sensor networks for energy efficiency, advancement of IoT in smart office offerings, growing need for safety and security systems at workplace, and favorable government regulations in several countries.

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In this market, smart lighting/lighting controls, security systems, energy management systems, and HVAC control systems are the major applications. Energy management system application is expected to witness the highest growth over the forecast period due to rising energy price and digitalization of energy infrastructures.

Within the smart office market, retrofit offices and new construction offices are the office types. New construction offices will remain the largest segment over the forecast period.

APAC region is expected to witness the highest growth over the forecast period due to the increasing adoption of energy management solution to reduce the associated cost and the implementation of security and lighting management solution in workplaces.

Siemens, Schneider Electric, Johnson Controls, Honeywell International, ABB, Cisco Systems, United Technologies, Lutron Electronics, Crestron Electronics, and Philips Lighting Holding are among the major suppliers for smart office market.

Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the smart office market by application, office type, end use industry, and region. Lucintel has prepared a comprehensive research report entitled 'Smart Office Market 2019-2024: Trends, Forecast, and Opportunity Analysis.' This Lucintel report serves as a catalyst for growth strategy as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the smart office market by application, office type, end use industry, and region as follows:

By Application [$M shipment analysis for 2013 - 2024]:

• Smart Lighting/Lighting Controls
  • Smart Bulbs
  • Fixtures
  • Lighting Controls
• Security Systems
  • Access Controls
  • Surveillance Cameras/Video Surveillance
  • Fire and Safety Controls
• Energy Management Systems
  • Smart Thermostats
• HVAC Control Systems
• Control Valves
• Others

By Office Type [$M shipment analysis for 2013 - 2024]:

• Retrofit Offices
• New Construction Offices

By End Use Industry [$M shipment analysis for 2013 - 2024]:

• IT and Telecom
• BFSI
• Healthcare
• Education
• Others

By Region [$M shipment analysis for 2013 - 2024]:

• North America
  • United States
  • Canada
  • Mexico
• Europe
  • UK
  • Germany
  • Italy
• Asia Pacific
  • China
  • Japan
  • India
• Rest of the World

This 150-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link [email protected].

About Lucintel

Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, growth consulting, M&A, and due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.

Brandon Fitzgerald
Lucintel
Dallas, Texas, USA
Email: [email protected]
Tel. 972.636.5056
Cell: 303.775.0751

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SOURCE: Lucintel