The smart and connected offices market is poised for high growth owing to the increased need for controlling and automating homes, offices, schools, hospitals and hotels. Smart and connected offices are technologically integrated offices where all the organization’s tasks are made simpler and flexible with the use of network based devices. Smart office products help in promoting the use of available resources and faster decision making. Efficient use of available resources generates more revenues and reduces power consumption, which help in achieving more customer satisfaction.
The major drivers for the smart and connected offices market are explosion of low-cost and smart wireless sensor networks, increase demand for Bring Your Device (BYOD), emergence of IPV6, explosive demand for mobile connected devices, the work-on-the-go culture and emergence of the hurdle rooms. Redesigning of the existing business models and the need for shared infrastructure are some of the major challenges that the smart and connected offices industry faces.
Factors such as security risks in the hand-held devices, leaving them vulnerable to interception by unauthorized users are expected to drive the smart and connected office markets. Low return on financial investments is expected to restrain market growth over the forecast period.
The smart and connected offices market can be segmented on the basis of building types and product types. Building types can be bifurcated into new building and retrofit buildings. On the basis of products the smart and connected office market can be classified into energy management systems, smart lighting systems, audio & video conferencing systems, and security & access control systems. The smart and connected offices energy management systems include smart appliances and smart meters. Smart lighting systems comprise transmitters, controllable breakers, actuators, relays and occupancy sensors and receivers. Audio and video conferencing is categorized into multimedia room controllers, keypads and touch screens and home theatre systems. Security and access based control systems are segmented into intrusion alarm systems, biometric systems, card based systems, and surveillance cameras.
Key industry participants providing smart and connected offices solutions include Johnson Controls Inc., Honeywell International Inc., Koninklijke Philips N.V., Crestron Electronics, Siemens AG and Cisco Systems Inc, ABB Ltd, Schneider Electric SA and United Technologies Corporation.
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