The report "Smart and Connected offices Market by Product (Smart Lighting, Security Systems, HVAC Control), by Building Type (Retrofit, New Construction), and Geography - Global Forecast to 2020", published by MarketsandMarkets, includes an in-depth analysis of the market by product, building type, and geography. The total market size of smart and connected offices market is expected to reach $43.31 Billion by 2020 at an estimated CAGR of 10.70% from 2014 to 2020.
The global smart and connected office market is expected to grow at a compound annual growth rate (CAGR) of 10.70%, it holds a great potential across the building automation industry. Smart office products help in promoting efficient use of available resources and also ensure sustainability through use of ecofriendly processes.
Smart and connected office market report describes the market trends, drivers, and challenges with respect to the global smart offices market and projects the market size from 2013 to 2020, based on the product, building types, and geography. This report gives a detailed view of the market across regions, namely the Americas, Europe, APAC and ROW (Middle East and Africa).The Americas dominates the market with regards to the market size in terms of value; however, APAC is expected to grow at the highest CAGR in the smart offices market.
The competitive landscape of the market presents a very interesting picture. The market is witnessing new product launches and large scale collaborations, and agreements and partnerships across the value chain, with a number of tier-one players around the globe.
The major players in the smart offices market are Siemens AG (Germany), Johnson Controls Inc. (U.S.), Cisco Systems, Inc. (U.S.), Honeywell International, Inc. (U.S.), ABB Ltd. (U.S.), Crestron Electronics (U.S.), Schneider Electric SA (France), and Koninklijke Philips N.V. (The Netherlands) among others.
