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Booming Digital Technologies underscore Growth in Smart Workplace Market: TMR - PRNewswire

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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.

Request the Covid19 Impact Analysis at

https://www.transparencymarketresearch.com/sample/sample.php?flag=covid19&rep_id=79138

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

Explore Transparency Market Research's award-winning coverage of the Global IT & Telecom Industry:

Alarm Monitoring [Central Stations] Software Market – The global alarm monitoring (central stations) software market was valued over US$ 9.1 Bn in 2019 and expected to expand at a CAGR of ~7% from 2020 to 2030, to cross US$ 18.5 Bn by the end of the forecast period. According to the report, the global alarm monitoring (central stations) software market will continue to be influenced by a range of macroeconomic and industry-specific factors.

Automatic Number Plate Recognition [ANPR] Market – The automatic number plate recognition (ANPR) market is expected to expand at a favorable CAGR of ~9% during the forecast period. However, common shortcomings of ANPR systems such as failing to detect vehicles travelling over 30mph are likely to inhibit market growth. Hence, manufacturers are increasing their R&D capabilities to develop systems with advanced recognition software.

Optical Character Recognition Market – The global optical character recognition market was valued at US$ 15.1 Bn in 2019 and is expected to expand at a CAGR of ~15% from 2020 to 2030, reaching US$ 70 Bn and volume of 58,166 thousand units by the end of the forecast period. The global optical character recognition market will continue to be influenced by a range of macroeconomic and industry-specific factors.

About Transparency Market Research

Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyse information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

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Press Release Source: https://www.transparencymarketresearch.com/pressrelease/smart-workplace-market.htm 

SOURCE Transparency Market Research

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