Jan 25, 2022

|Technavio News provided by Share this article Share this article NEW YORK, Jan. 25, 2022 /PRNewswire/ -- The Smart Office Solutions market is segmented into three categories based on the product (smart security systems, smart EMS, HVAC control systems, smart lighting systems, and audio-video conferencing systems) and geography (APAC, North America, Europe, South America, and MEA). The market share is expected to increase by USD 18.40 billion from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 11.07%. Attractive Opportunities in Smart Office Solutions Market by Product and Geography - Forecast and Analysis 2021-2025 Parent Market Analysis The global smart office solutions  market is classified by Technavio as part of the global IT consulting and other services market. External factors influencing the parent market growth potential in the future years have been extensively examined in our research analysis and will define the degrees of growth of the smart office solutions market during the projection period. Technavio uses the total revenue generated by manufacturers to estimate the global smart office solutions market size. External factors influencing the parent market's growth potential in the coming years have been thoroughly investigated in our research analysis, to know more about the levels of growth of the smart office solutions market throughout the forecast period, Download a free sample , Smart Office Solutions Market Value Chain Analysis To maximize profit margins and evaluate business plans, an end-to-end understanding of smart office solutions is required. The report will help vendors drive costs and enhance customer services during the forecast period. Inputs Vendor Insights  The smart office solutions market is fragmented, and the vendors are deploying various organic and inorganic growth strategies to compete in the market. To make the best of the opportunity, the market vendors should focus more on the fast-growing segment's growth prospect while maintaining their positions in the slow-growing segments. We provide a detailed analysis of vendors operating in the smart office solution market, including some of the vendors such as ABB Ltd., Cisco Systems Inc., Crestron Electronics Inc., Honeywell International Inc., Johnson Controls International Plc, Koninklijke Philips NV, Lutron Electronics Co. Inc., Schneider Electric SE, Siemens AG, Signify NV. Backed with competitive intelligence and benchmarking, our research reports on the smart office solutions market are designed to provide entry support, customer profile, and M&As as well as go-to-market strategy support. Product Insights and News Cisco Systems Inc. - In June 2021, the company announced the acquisition of Kenna Security, Inc. Honeywell International Inc. - In June 2021, the company partnered with Trane Technologies to accelerate the transition to a next-generation, environmentally preferable refrigerant. The smart office solutions market forecast report offers in-depth insights into key vendor profiles and offerings –  Download Free Sample Report Geographical Highlights The smart office solutions market share growth in APAC will be significant during the forecast period. In APAC, China and Japan are the two most important markets for smart office solutions. The market in this region will expand faster than the markets in MEA and South America. During the projection period, the market expansion would be aided by an increase in the number of commercial offices and a growing emphasis on technological safety solutions, particularly in China and India. IoT services are being adopted at a faster rate in the region. In China and Japan, more than 80% of the population is using IoT services. Due to an increase in the number of corporate offices in the region, infrastructure development and adoption of IoT services are seeing substantial growth. With the rise in cyberattacks, the necessity for improved smart office safety and security in the corporate sector is expanding in APAC. Furthermore, China is the world's and APAC's top producer of smart office solutions, owing to the rising number of commercial offices and the growing emphasis on technological safety solutions in the region. To unlock the top strategies practiced by the maximum growth generating region,  View Sample Report Key Market Dynamics- Increase in the number of startups The rise in venture capitalists and other company investments in startups is driving the market's expansion. By investing in startups, well-established IT corporations are focusing on building a brand for specialized services. Wipro, for example, is a major investor in several startups, including Tricentis, an Australian software testing firm, and Drivestream, a cloud services firm based in the United States. Infosys is also investing in businesses including Cloudyn, an Israeli cloud management company, and ideaForge Technology, a Mumbai-based drone manufacturer. As a result, during the projected period, the overall increase in the number of startups is likely to drive market growth. Smart Office Solutions Key Market Trends: The increasing number of M&A activities Because of the increasing number of business expansions, the worldwide smart office industry is growing. Vendors in the market form strategic agreements with their peers or purchase other vendors to achieve a competitive advantage. To acquire access to new clients and technologies that can help them extend their product portfolio and geographic presence, market participants are opting for partnerships and acquisitions. During the projected period, demand for smart offices will rise due to a growth in the number of strategic collaborations and alliances between manufacturers. Download a free sample  for highlights on market Drivers & Trends affecting the smart office solutions market. Customize Your Report  Don't miss out on the opportunity to speak to our analyst and know more insights into this market report. Our analysts can also help you customize this report according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer USD 1,000 worth of FREE customization at the time of purchase. Speak to our Analyst now! Related Reports:  Key companies profiled ABB Ltd., Cisco Systems Inc., Crestron Electronics Inc., Honeywell International Inc., Johnson Controls International Plc, Koninklijke Philips NV, Lutron Electronics Co. Inc., Schneider Electric SE, Siemens AG, and Signify NV Market dynamics Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period Customization purview If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. About Us:  Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. 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