Connected Workplace connects all employees to their colleagues and interlinking all tasks by effectively using cloud based applications or mobile devices. This is also supports big data analytics in organization which increases the productivity, customer interaction, thereby generating huge revenue for the firm. The growth drivers for this market include widespread availability of interactive service in the organization which helps in providing information to all the stakeholders of organization, by utilization of tablets, smartphones and laptops and flexible working spaces which help in attracting new talent for the organization. A major challenge in connected workplace is protecting the intellectual property of an organization as the information can be assessed worldwide.
Market Research Future (MRFR) asserts that the connected workplace market can gain significant impetus and reach a whopping USD 56.74 Billion by 2030. The market is also slated to progress at a rate of 10.36% from 2020 to 20230 (review period). We will provide COVID-19 impact analysis with the report, offering detailed market developments following the coronavirus disease outbreak.
Going forward, the firms that were already using cloud-based services have been able to quickly adapt to the remote working practice. Cloud has become even more important during the COVID-19 pandemic, with digital companies being barely affected by the disruption. Therefore, as more and more companies are striving to be digitally connected for better productivity, better growth can be observed by the connected workplace market. Besides, new product launches and ongoing innovations by some of the renowned firms can also be a key growth booster in the global market.
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The connected workplace market report outlines a few key segments, namely components, types, deployment and applications.
Components mentioned in the market study are HVAC control, smart lighting, security systems, and more.
The types of connected workplace can be virtual team, hot desk and telecommuting and others.
The deployment of connected workplace can be done on-cloud, hybrid and on-premise.
The application areas of connected workplace are building automation, monitoring, mobile device management, energy management system, and others.
The regional outlook of the connected workplace market focuses on APAC/Asia Pacific, Europe, North America, and RoW or Rest of the World.
The global market is currently headed by North America, as the region observes substantial deployment of connected workplace. The rise in the number of OEMs combined with the escalating use of smart devices such as sensor tracked devices, smartphones, wearable devices, infrastructural devices and robotics devices also contribute to the market expansion in the region.
With the potential to procure the fastest growth rate, the APAC market for connected workplace benefits from the fast rising industrialization and the advancing IT industry. Companies in the region are realizing the importance of fast adoption of the latest technologies that can help boost workforce agility as well as operational efficacies, which works in favor of the connected workplace market. Additionally, the advancements in the OTT industry, increasing spending on cyber security, surge in data traffic and the rising prevalence of BYOD devices could also foster business growth in the region.
Prominent Industry Companies
Some of the most prominent industry companies are Schneider Electric SA (France), Deloitte Pvt. Co. (U.S.), United Technologies Corporation (U.S.), Cisco Systems, Inc. (U.S.), Johnson Controls Inc. (U.S.), Crestron Electronics, Inc. (U.S.), ABB Ltd. (U.S.), Honeywell International, Inc. (U.S.), Koninklijke Philips N.V. (The Netherlands), Siemens AG (Germany), to list a few.
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