Boonton, NJ -- (SBWIRE) -- 10/20/2018 -- Market Analysis:

According to Verified Market Intelligence, The Global Smart Office Market was valued at USD 22.45 billion in 2017 and is projected to reach USD 58.62 billion by 2025, growing at a CAGR of 12.8% from 2018 to 2025.

The smart office is a technology that is used in making the tasks of organization simpler and flexible with the help of network-based devices. It comprises of various technologies such as sensors, automated systems and advanced communication structure that are required to provide efficient support for planning and performing work. The smart office offers numerous benefits such as cloud storage, schedule management, enhanced customer satisfaction, risk management, utilization of resources, high investment returns and many more. Increasing adoption rate of the Internet of Things (IoT) has contributed to the growth of smart office market.

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Increasing Adoption of the cloud-based environment of IoT platforms, growing need for safety and security systems at workplace and Rise in demand for smart office solutions have been driving the global smart office market. On the other hand, Issues associated with the integration of real-time streaming analytics capabilities into smart systems and Issues related to the replacement of an existing system might hinder the overall market at a global level.

The "Global Smart Office Market" study report will provide a valuable insight with an emphasis on the global market including some of the major players such as United Technologies Corporation, Koninklijke Philips, Electric SA, Honeywell International, ABB Ltd., Schneider Siemens AG, Johnson Controls, Cisco Systems, Lutron Electronics and Creston Electronics. Our market analysis also entails a section solely dedicated for such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis.