Smart Office consists of different systems such as automated systems, sensors and advanced communication infrastructure & networks which help in providing centralized control and wireless data transfer for maintaining and data analysis. The Global Smart Office Market was worth 20.76 Billion USD in 2018 and is estimated to reach 40.82 Billion USD by 2025 with a CAGR of 10.14% during the forecast period.
Growth by Region
North America is expected to dominate Global Smart Office Market due to technological penetration and increasing concerns of various organizations followed by Europe and Asia Pacific region.
Drivers vs. Constraints
The increasing focus on the energy efficiency, rising concerns over environment safety and growing use of IoT technology are the reasons for growth of Global Smart Office Market.
Growing concerns over privacy malicious attacks is the factor which restrains market growth.
Industry Structure and Updates
In March 2017, Siemens acquired an EDA Software leader acquired Mentor graphics to expand its digital industrial leadership.