Booming Digital Technologies underscore Growth in Smart Workplace Market: TMR

- The smart workplace market may experience booming growth during the forecast period of 2020-2030 on the back of the growing demand for digital workplaces due to the increase in remote working mechanisms

- Based on a plethora of factors, the global smart workplace market is prognosticated to record a CAGR of ~17 percent during the forecast period of 2020-2030

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Transparency Market Research

Oct 01, 2020, 09:30 ET

ALBANY, N.Y., Oct. 1, 2020 /PRNewswire/ -- Need for systemizing the daily tasks assigned to employees and the emergence of digitalization to change the face of the traditional workplace are prominent factors influencing the growth of the global smart workplace market positively.

According to the researchers at Transparency Market Research (TMR), the global smart workplace market may expand at a CAGR of ~17 percent during the assessment period of 2020-2030. The global smart workplace market is valued at ~US$ 26 bn in 2020 and is extrapolated to reach US$ 121 bn by 2030.

Smart workplaces are seen as an efficient tool for workplaces in the pandemic era. Therefore, this aspect may bring tremendous growth opportunities for the smart workplace market. The increasing use of the latest technologies such as the Internet of Things (IoT) and others may bring expansive growth prospects for the smart workplace market.

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Smart Workplace Market: Transparency Expert Diagnosis

The analysts at Transparency Market Research credit most of the growth to factors like enhancements in sensors, rising utilization of IoT, and technological advancements. The analysts also point out the overwhelming rise of smart cities as an ideal growth factor.

The TMR analysts also advise the players in the smart workplace market to leverage the diverse advancements in technology in the workplace mechanisms and impart them to the end-users at cost-effective prices to increase their revenue.

Smart Workplace Market: Key Revelations

North America may serve as the largest growth contributor for the smart workplace market from 2020 to 2030
North America is estimated to gain revenues valued at US$ 8,481.9 mn till the end of 2020
South America and the Middle East and Africa may garner moderate growth during the forecast period of 2020-2030
The smart workplace market in Asia Pacific may expand at a rapid pace between 2020 and 2030
The large presence of small and medium enterprises in India and China may propel the demand for the smart workplace market greatly

Explore 256 pages of superlative research, current market scenario, and extensive geographical projections. Gain insights into the Smart Workplace Market (System: Access Control, Video Conferencing System, and HVAC Control System; and Solution: Software and Services [Managed Services and Professional Services]) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020-2030 at https://www.transparencymarketresearch.com/smart-workplace-market.html

Smart Workplace Market: Growth Accelerators

The advent of the novel coronavirus pandemic is increasing the demand for the smart workplace market greatly. Hence, this factor may serve as one of the significant growth factors across the smart workplace market.

The heightened demand for energy-saving mechanisms at workplaces, that is, the rising influence of sustainable workplaces is bringing immense growth prospects for the smart workplace market
The escalating demand for flexibility across workplaces is serving as a great growth generator for the smart workplace market
The rise in adoption of cloud-enabled technologies is proving to be a boon for the growth of the smart workplace market

Analyze global smart workplace market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study

'The New Normal' Factor Deepening its Roots across Smart Workplace Market

As the scenario of workplace mechanism is changing rapidly due to the advent of the SARS-CoV-2 outbreak, the smart workplace market is gaining good growth. The emergence of novel technologies is being observed through innovations, mergers, acquisitions, and partnerships. For instance, Exponential-e, a unified communication service and L&T Technology Services Ltd have entered into an agreement to provide workplace transformation solutions to people working in the post-COVID environment. Such developments bring good growth for the smart workplace market.

New players are also entering the smart workplace market. Zoho Corporation, a software development company recently launched Zoho Workplace to compete with tech giants like Google and Microsoft.

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Global Smart Workplace Market: Segmentation

By System

Access Control
Video Conferencing System
HVAC Control System
Actuators
Control Valves
Dampers
FCU Controllers
Pumps & Fans
Smart Vents

By Solution

Software
Services

By Region

North America
Europe
Asia Pacific
Middle East & Africa
South America

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