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The global smart spaces market exhibited strong growth during 2015-2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 17% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
Smart spaces, also known as connected places, are physical environments equipped with advanced technologies, such as network temperature and motion sensors, to enhance the connection between people, processes, and services. They reduce energy costs through adjustments of heating, cooling, and lighting in real-time based on changes in weather and building occupancy. They can be monitored and adjusted remotely, which minimizes carbon footprints. Moreover, they are incorporated with surveillance and security systems to improve the experience of occupants and provide a safe, protected place to live and work. Nowadays, locations like retail, cities, manufacturing, campuses, and transportation are becoming smart spaces worldwide to improve health, safety, operations, and customer experience.
Due to the coronavirus disease (COVID-19) outbreak, enterprises across the globe are focusing on creating a safe, digital workplace with a high standard of security. This represents one of the significant factors influencing the adoption of smart spaces to provide contactless access to individuals and protect against cybersecurity attacks. Apart from this, these organizations are recreating their existing physical infrastructure with an overlay of digital technologies to transform individual experiences, create a collaborative culture, and become sustainable. In addition, the emerging trends of automation and digitization are catalyzing the demand for smart spaces to modify manufacturing facilities into connected factories that allow seamless sharing of information between people, machines, and sensors. Moreover, the growing demand for smart homes on account of inflating per capita incomes and changing lifestyles is contributing to the market growth. Furthermore, governing agencies of various countries are investing in the construction of smart city spaces, which is creating a positive outlook for the market.
IMARC Group provides an analysis of the key trends in each sub-segment of the global smart spaces market report, along with forecasts for growth at the global, regional and country level from 2021-2026. Our report has categorized the market based on component, space type, application and end user.
Breakup by Component:
Breakup by Space Type:
Breakup by Application:
Breakup by End User:
Breakup by Region:
The competitive landscape of the industry has also been examined along with the profiles of the key players being ABB Ltd, Cisco Systems Inc., Coor Service Management AB, Eutech Cybernetic Pte. Ltd, Hitachi Vantara LLC (Hitachi Ltd.), International Business Machines Corporation, Microsoft Corporation, Schneider Electric, Siemens AG, SmartSpace Software PLC and Ubisense Limited.
|Base Year of the Analysis||2020|
|Segment Coverage||Component, Space Type, Application, End User, Region|
|Region Covered||Asia Pacific, Europe, North America, Latin America, Middle East and Africa|
|Countries Covered||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico|
|Companies Covered||ABB Ltd, Cisco Systems Inc., Coor Service Management AB, Eutech Cybernetic Pte. Ltd, Hitachi Vantara LLC (Hitachi Ltd.), International Business Machines Corporation, Microsoft Corporation, Schneider Electric, Siemens AG, SmartSpace Software PLC and Ubisense Limited.|
|Customization Scope||10% Free Customization|
|Report Price and Purchase Option||Single User License: US$ 2299
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Corporate License: US$ 4499
|Post-Sale Analyst Support||10-12 Weeks|
|Delivery Format||PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)|
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