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$28.1 Billion Worldwide Smart Workplace Industry to 2027 - Impact of COVID-19 on the Market

·3 min read

DUBLIN, Feb. 2, 2021 /PRNewswire/ -- The "Smart Workplace - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.

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The publisher brings years of research experience to the 8th edition of this report. The 225-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.

Global Smart Workplace Market to Reach US$63.1 Billion by the Year 2027

Amid the COVID-19 crisis, the global market for Smart Workplace estimated at US$28.1 Billion in the year 2020, is projected to reach a revised size of US$63.1 Billion by 2027, growing at a CAGR of 12.3% over the period 2020-2027.

Software, one of the segments analyzed in the report, is projected to grow at a 11.1% CAGR to reach US$35.5 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Services segment is readjusted to a revised 13.9% CAGR for the next 7-year period. This segment currently accounts for a 39.7% share of the global Smart Workplace market.

The U.S. Accounts for Over 29.5% of Global Market Size in 2020, While China is Forecast to Grow at a 11.8% CAGR for the Period of 2020-2027

The Smart Workplace market in the U.S. is estimated at US$8.3 Billion in the year 2020. The country currently accounts for a 29.5% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$11.1 Billion in the year 2027 trailing a CAGR of 11.9% through 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 10.8% and 10.5% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 9% CAGR while Rest of European market (as defined in the study) will reach US$11.1 Billion by the year 2027.

Competitors identified in this market include, among others:

  • ABB Group

  • Cisco Systems, Inc.

  • Crestron Electronics, Inc.

  • Honeywell International, Inc.

  • Johnson Controls International PLC

  • Lutron Electronics Co., Inc.

  • Schneider Electric SA

  • Siemens AG

  • Signify Holding

  • United Technologies Corporation (UTC)

Key Topics Covered:

I. INTRODUCTION, METHODOLOGY & REPORT SCOPE

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

  • Impact of Covid-19 and a Looming Global Recession

  • Global Competitor Market Shares

  • Smart Workplace Competitor Market Share Scenario Worldwide (in %): 2018E

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

IV. COMPETITION

  • Total Companies Profiled: 44

For more information about this report visit https://www.researchandmarkets.com/r/ivkbfl

Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.

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Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com

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View original content:http://www.prnewswire.com/news-releases/28-1-billion-worldwide-smart-workplace-industry-to-2027---impact-of-covid-19-on-the-market-301220197.html

SOURCE Research and Markets