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Smart Offices Market : Opportunities , Challenges and Trends 2023


The smart office market to grow from USD 18.8 billion in 2016 to USD 46.1 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 12.9% – PowerPoint PPT presentation

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Title: Smart Offices Market : Opportunities , Challenges and Trends 2023

MarketsandMarkets Presents
Smart Offices Market by Product (Smart
Lighting/Lighting Controls, Security Systems,
Energy Management Systems, HVAC Control Systems,
AudioVideo Conferencing Systems), Software
Service, Office Type, and Geography - Global
Forecast to 2023 smart offices market was
valued at USD 18.82 Billion in 2016 and is
expected to reach USD 46.11 Billion by 2023, at a
CAGR of 12.94
MarketsandMarkets Presents
Advancement of IoT in smart office offerings The
introduction of IoT in smart office application
has changed the way how smart office was operated
earlier and paved the way for new concepts and
technologies in smart office market. Earlier, the
functions of offices such as heating, ventilation
and air conditioning (HVAC) security and
lighting were operated separately. However, the
convergence of the Internet of Things (IoT) and
smart office offering makes it possible for a
range of devices and sensors to communicate
wirelessly over the Internet, without the need
for direct human interference. Download PDF
Brochure _at_ https//
wnloadNew.asp?id254310598 The workplace
automation system manufacturers expect to gain
greater returns through the integration of
workplace products with IoT. Most of the
businesses are shifting their traditional
practices toward IoT, and IoT is expected to
reach numerous application areas such as
lighting, HVAC, security, energy management
within the smart office industry.
MarketsandMarkets Presents
Complexity in replacing or upgrading the
existing system Smart office solution is an
integration of different technology elements such
as hardware (proximity sensors, smart meters,
smart thermostats, relays, network switches and
gateways, and actuators), software, and network
elements that may become complex to configure
over legacy system infrastructure. Therefore,
legacy systems are unable to integrate
efficiently with the new generation smart devices
due to protocol issues. 
MarketsandMarkets Presents
The services segment is further divided into
advisory and consulting services, installation
and support services, and managed services that
directly maximize the network performance and
uptime, minimize the operational risk, and
significantly reduce the capital and operational
expenditures, thus resulting in a high demand for
services in the smart office market. smart
offices market, such as various products related
to smart office, software and services related to
smart office, and office type segments. The
market comprises smart office solution providers
such as ABB, Cisco Systems, Crestron Electronics,
Honeywell, Johnson Controls, Philips Lighting,
Lutron Electronics, Schneider Electric, Siemens,
and United Technologies Corporation.
MarketsandMarkets Presents
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MarketsandMarkets Presents
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