Market Size of NA Smart Office Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 9.40 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
North America Smart Office Market Analysis
The North America Smart Office Market is expected to register a CAGR of 10.5% during the forecast period. The consumer's propensity to adopt security solutions rises due to the pandemic scenario and the uncertainty of back into normal life. The aspect of a smart office is looking more practical in the new normal post-COVID-19 in various countries in North America, which is expected to create significant opportunities in the market.
- The market being studied is primarily influenced by the rising demand for smart office solutions, the development of IoT in smart office offerings, and the increasing need for workplace safety and security systems.
- IoT in the workplace uses a variety of hardware and technologies, such as smart devices, robots, and artificial intelligence, to improve productivity and identify opportunities. Owing to these benefits, Amazon Alexa for Business allows companies to use its Alexa digital assistant in an office setting. Organizations can also use Amazon Echo smart speakers in the office to provide information, such as the proximity-free meeting room or allow employees to order supplies.
- The increasing focus on energy efficiency is another key factor driving the growth of the smart office market. The rising environmental concerns are pushing the companies in the region to improve the energy efficiency of operations and reduce their environmental footprint.
- The rising number of smart devices has been the primary reason behind the implementation of connected offices in the region. More devices and a heavy dependence on emerging cloud computing technologies will exponentially improve the firms' quality of products and services. Further, businesses are already adapting to innovations, such as mixed reality, the internet of things (IoT), and artificial intelligence (AI), in their daily operations.
North America Smart Office Industry Segmentation
The scope of the market includes various smart office segments in North America, such as smart office lighting, security and access control, energy management systems, smart HVAC control systems, audio-video conferencing system, fire, and safety controlsystemsm.
The study covers the analysis of the impact of COVID-19 on the market ecosystem along with geographical analysis in the United States and Canada.
| By Product Type | |
| Smart Office Lighting | |
| Security and Access Control System | |
| Energy Management System | |
| Smart HVAC Control System | |
| Audio-video Conferencing System | |
| Fire and Safety Control System |
| By Building Type | |
| Retrofits | |
| New Buildings |
| By Country | |
| United States | |
| Canada |
NA Smart Office Market Size Summary
The North America Smart Office Market is poised for significant growth, driven by the increasing adoption of smart office solutions and the integration of IoT technologies. The pandemic has heightened the demand for security and safety systems in workplaces, making smart offices more appealing in the post-COVID-19 era. Companies are leveraging smart devices, artificial intelligence, and robots to enhance productivity and streamline operations. The focus on energy efficiency and reducing environmental impact is also propelling the market forward, as businesses seek to optimize their operations and minimize their carbon footprint. The proliferation of smart devices and the reliance on cloud computing technologies are further facilitating the transition to connected offices, offering improved product and service quality.
The market landscape is characterized by moderate competition, with key players like Honeywell, ABB, Siemens, Cisco Systems, and Schneider Electric actively engaging in product launches, partnerships, and acquisitions to maintain their competitive edge. The rollout of 5G and advancements in Wi-Fi technology are enhancing the capabilities of smart office solutions, providing faster and more reliable connectivity. The adoption of Secure Access Service Edge (SASE) and zero trust security models is expected to increase, ensuring data security for remote workers. Companies are also investing in digital transformation to meet the evolving needs of stakeholders, with a focus on cost and energy savings. These trends underscore the dynamic nature of the North America Smart Office Market, with ongoing innovations and strategic initiatives shaping its future trajectory.
NA Smart Office Market Size - Table of Contents
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1. MARKET INSIGHTS
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1.1 Market Overview
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1.2 Industry Attractiveness - Porter's Five Forces Analysis
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1.2.1 Bargaining Power of Suppliers
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1.2.2 Bargaining Power of Consumers
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1.2.3 Threat of New Entrants
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1.2.4 Threat of Substitutes
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1.2.5 Intensity of Competitive Rivalry
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1.3 Assessment of the Impact of COVID-19 on the Market
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2. MARKET SEGMENTATION
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2.1 By Product Type
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2.1.1 Smart Office Lighting
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2.1.2 Security and Access Control System
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2.1.3 Energy Management System
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2.1.4 Smart HVAC Control System
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2.1.5 Audio-video Conferencing System
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2.1.6 Fire and Safety Control System
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2.2 By Building Type
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2.2.1 Retrofits
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2.2.2 New Buildings
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2.3 By Country
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2.3.1 United States
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2.3.2 Canada
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NA Smart Office Market Size FAQs
What is the current NA Smart Office Market size?
The NA Smart Office Market is projected to register a CAGR of 9.40% during the forecast period (2024-2029)
Who are the key players in NA Smart Office Market?
Honeywell International Inc., ABB Ltd., Siemens AG, Cisco Systems Inc. and Schneider Electric SE are the major companies operating in the NA Smart Office Market.
