Connected Workplace Market Report
Connected workplace refers to a workplace where all the employees and employers are connected through smartphones, tablets, etc. It minimizes the communication gap and enhances operational efficiency of the organization. Market Research Future (MRFR)’s observation unfolds that the global connected workplace market is presumed to strike 11% CAGR over the evaluation period 2016 to 2022. The market is likely to earn revenue amounting to USD 31 Bn by 2022, up from USD 14 Bn in 2016.
The need for higher operational efficiency for effective decision making is expected to drive the growth of the connected workplace market in the years to come. In addition, the developments in technology such as IoT, smart buildings, sensors, etc. are further projected to lead the expansion of the market in the nearby future. The investments in technological innovations are projected to yield revenue gains over the next couple of years.
The deployment of connected devices ensures the attainment of a higher degree of productivity. However, factors such as lack of continuous high-speed internet services are poised to impede the growth rate of the connected workplace market in the coming years.
Market Segmentation:
Based on components, the connected workplace market has been segmented into smart lighting, HVAC control, security systems, and others.
On the basis of type, the connected workplace market has been segmented into virtual team, telecommuting, hot desk, and others.
The global connected workplace market, by deployment, is divided into on-premise, on cloud, and hybrid technology methods.
Based on applications, the connected workplace market has been segmented into monitoring, energy management system, mobile device management, building automation, and others.
Regional Analysis:
The global connected workplace market has been analyzed on the basis of regions that are further studied on the basis of country-level markets. The regional segments of the market are — Asia Pacific (APAC), North America, Europe, and the Rest of the World (RoW). North America is expected to dictate the growth curve of the global market in the years to come. The high rate of adoption of connected workplaces in the region is presumed to drive market growth in the upcoming years.
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Competitive Dashboard:
Siemens AG (Germany), ABB Ltd. (U.S.), Koninklijke Philips N.V. (The Netherlands), Deloitte Pvt. Co. (U.S.), Cisco Systems, Inc. (U.S.), Schneider Electric SA (France), Crestron Electronics, Inc. (U.S.), Johnson Controls Inc. (U.S.), Honeywell International, Inc. (U.S.), and United Technologies Corporation (U.S.) are some of the participants of the global connected workplace market assessed in this MRFR report.
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Global Connected Workplace Market, by Components (Security Systems, Smart Lighting), By Types (Telecommuting, Virtual Team, Hot Desk), By Deployment (On-Premise, On-Cloud, Hybrid), By Applications (Monitoring, Building Automation) - Forecast 2022Connected Workplace MarketConnected Workplace Market is expected to grow at CAGR of ~11% during the forecast period and expected to reach market size of USD ~31 Billion by the end of forecast period.Connected Workplace connects all employees to their colleagues and interlinking all tasks by effectively using cloud based applications or mobile devices.
This is also supports big data analytics in organization which increases the productivity, customer interaction, thereby generating huge revenue for the firm.
The growth drivers for this market include widespread availability of interactive service in the organization which helps in providing information to all the stakeholders of organization, by utilization of tablets, smartphones and laptops and flexible working spaces which help in attracting new talent for the organization.
A major challenge in connected workplace is protecting the intellectual property of an organization as the information can be assessed worldwide.Connected workplace facilitates an organization with free seating and open space arrangement which help a business in easily adopting the changing business needs.
Connected workplace leverages technology which satisfies the employees of the organization, leading to high productivity and helps in maintaining quality standards.
This also allows an organization to efficiently utilize their workplace investments.Connected Workplace MarketThe Global connected workplace Market has been segmented on the basis of components, types, deployment and applications.
Connected Workplace MarketConnected workplace Market is expected to grow at CAGR of ~11% during the forecast period and expected to reach market size of USD ~31 Billion by the end of forecast period.Connected workplace connects all employees to their colleagues and interlinking all tasks by effectively using cloud based applications or mobile devices.
The growth drivers for this market include widespread availability of interactive service in the organization which helps in providing information to all the stakeholders of organization, by utilization of tablets, smartphones and laptops and flexible working spaces which help in attracting new talent for the organization.
A major challenge in connected workplace is protecting the intellectual property of an organization as the information can be assessed worldwide.Connected workplace facilitates an organization with free seating and open space arrangement which help a business in easily adopting the changing business needs.
This also allows an organization to efficiently utilize their workplace investments.Commenting on the report, an analyst from Market Research Future (MRFR)’s team said:“Among all types of connected workplace, telecommuting is forecast to be the highest growing sector in the upcoming years.
Telecommuting also helps reduce set up costs for an organization.”Market Research Future Analysis shows that North America is expected to dominate the market due to increase in technical capabilities for connecting workplaces in the region.
Increasing adoption of smartphones, censor tracked devices, robotics devices, wearable devices and infrastructural devices by industry sectors is also contributing in the growth of connected workplace market in North America region Furthermore, high growth in Asia-pacific region in connected workplace market can be attributed to increased need of enhanced technologies and solutions to increase the productivity of the firm.
Global Connected Workplace Market, by Components (Security Systems, Smart Lighting), By Types (Telecommuting, Virtual Team, Hot Desk), By Deployment (On-Premise, On-Cloud, Hybrid), By Applications (Monitoring, Building Automation) - Forecast 2022Market HighlightsConnected Workplace Market is expected to grow at CAGR of ~11% during the forecast period and expected to reach market size of USD ~31 Billion by the end of forecast period.Connected Workplace connects all employees to their colleagues and interlinking all tasks by effectively using cloud based applications or mobile devices.
The growth drivers for this market include widespread availability of interactive service in the organization which helps in providing information to all the stakeholders of organization, by utilization of tablets, smartphones and laptops and flexible working spaces which help in attracting new talent for the organization.
A major challenge in connected workplace is protecting the intellectual property of an organization as the information can be assessed worldwide.Connected workplace facilitates an organization with free seating and open space arrangement which help a business in easily adopting the changing business needs.
Connected workplace leverages technology which satisfies the employees of the organization, leading to high productivity and helps in maintaining quality standards.
The applications of connected workplace can be monitoring, building automation, energy management system, mobile device management and others.Key Players:The prominent players in the connected workplace market are- Siemens AG (Germany), Koninklijke Philips N.V. (The Netherlands), ABB Ltd. (U.S.), Deloitte Pvt.
Co. (U.S.), Schneider Electric SA (France), Cisco Systems, Inc. (U.S.), Crestron Electronics, Inc. (U.S.), Honeywell International, Inc. (U.S.), Johnson Controls Inc. (U.S.) and United Technologies Corporation (U.S.) among others.Market Research Analysis:Market Research Future Analysis shows that the major driver of growth of connected workplace market is increasing adoption of digital innovation by employees of organization.
