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APAC Smart Office Market Size (2024 - 2029)

The Asia Pacific Smart Office Market is experiencing growth driven by the increasing adoption of security solutions and the hybrid work model, influenced by the pandemic and digital transformation. The market's expansion is supported by innovations in IoT, data security, and AI capabilities, which cater to the evolving needs of stakeholders. Collaborations in the region are enhancing safety protocols and offering data-driven services to improve workplace efficiency and safety. These developments are contributing to the market's significant opportunities and growth trajectory in the post-COVID-19 landscape.

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Market Size of APAC Smart Office Industry

Asia Pacific Smart Office Market Statistics
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR 10.50 %
Market Concentration Medium

Major Players

Asia Pacific Smart Office Market Major Players

*Disclaimer: Major Players sorted in no particular order

APAC Smart Office Market Analysis

The Asia Pacific Smart Office Market is expected to register a CAGR of 10.5% during the forecast period. The consumer's propensity to adopt security solutions rises due to the pandemic scenario and the uncertainty of back into normal life. The aspect of a smart office is looking more practical in the new normal post-COVID-19 in various countries in the Asia Pacific, which is expected to create significant opportunities in the market.

  • Several progressions have accelerated smart office demand, driven by digital transformation and changing needs of all stakeholders. One of the drivers is the pandemic's impact on the future of work and the increased adoption of the hybrid work model. However, several existing drivers have grown in importance in the region, with dedicated, intelligent IoT solutions for various use cases.
  • The market is witnessing various innovations catering to access cards, data security, and AI capabilities. For instance, in December 2020, SHARP Business Systems (India) Pvt. Ltd. launched an integrated package of workplace solutions designed to meet the needs of working professionals operating remotely in the COVID-19. Sharp offers high-end Digital Multifunctional Printers (MFPs) in both color and mono as part of the integrated deal, with contactless printing through access cards, data security, and AI capabilities such as voice assist and high-speed scanning to digitize documents.
  • Also, various collaborations are witnessed in the region to ensure adherence to critical safety protocols such as capacity thresholds, mask-wearing, social distancing, and air quality. For instance, in May 2021, Infosys and RXR Realty partnered to create and deploy a comprehensive Smart Officeform solution that runs on Microsoft Azure. RxWell, a public-health-based, data-driven framework, offers health and wellness insights and management tools for property managers, tenant administrators, and office workers to aid in a safe return to work after a medical emergency.
  • The market vendors are combining several data-driven and digitally-enabled services and solutions to improve work expertise and efficiency, realize the cost and energy savings, and add value to the office through apps for various stakeholders.

APAC Smart Office Industry Segmentation

The scope of the market includes various smart office segments in the Asia Pacific, such as smart office lighting, security and access control, energy management system, smart HVAC control system, audio-video conferencing system, fire, and safety control system.

The study covers the analysis of the impact of COVID-19 on the market ecosystem along with geographical analysis in China, India, Australia, and the Rest of the Asia Pacific.

By Product Type
Smart Office Lighting
Security and Access Control System
Energy Management System
Smart HVAC Control System
Audio-video Conferencing System
Fire and Safety Control System
By Building Type
Retrofits
New Buildings
By Country
China
India
Australia
Rest of Asia Pacific
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APAC Smart Office Market Size Summary

The Asia Pacific Smart Office Market is experiencing robust growth, driven by the increasing adoption of digital transformation and the evolving needs of stakeholders in the region. The pandemic has significantly influenced the future of work, accelerating the shift towards hybrid work models and enhancing the demand for smart office solutions. This shift has been further supported by the integration of intelligent IoT solutions, which cater to various use cases such as access control, data security, and AI capabilities. Innovations in workplace solutions, like those offered by SHARP Business Systems, and collaborations aimed at ensuring safety protocols, such as the partnership between Infosys and RXR Realty, are indicative of the market's dynamic nature. The region's cloud adoption is also on the rise, with vendors providing security and access control systems through cloud offerings, which are crucial for protecting personnel and data in commercial establishments.

China stands out as a rapidly growing market within the Asia Pacific region, fueled by advancements in 5G penetration and a strong internet infrastructure. The demand for sustainable living solutions, driven by a growing working population, is propelling the adoption of smart office technologies. Government initiatives like Made in China 2025 are expected to further boost market growth. The market is also witnessing a surge in demand for smart fire and safety control systems, as well as advanced integrated security management platforms. The development of innovative HVAC solutions, supported by government electricity policies, is enhancing workplace comfort. The competitive landscape is characterized by product launches, strategic partnerships, and acquisitions, with key players like Honeywell, Siemens, and ABB actively expanding their portfolios to meet the evolving market demands.

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APAC Smart Office Market Size - Table of Contents

  1. 1. MARKET INSIGHTS

    1. 1.1 Market Overview

    2. 1.2 Industry Attractiveness - Porter's Five Forces Analysis

      1. 1.2.1 Bargaining Power of Suppliers

      2. 1.2.2 Bargaining Power of Consumers

      3. 1.2.3 Threat of New Entrants

      4. 1.2.4 Threat of Substitutes

      5. 1.2.5 Intensity of Competitive Rivalry

    3. 1.3 Assessment of the Impact of COVID-19 on the Market

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Product Type

      1. 2.1.1 Smart Office Lighting

      2. 2.1.2 Security and Access Control System

      3. 2.1.3 Energy Management System

      4. 2.1.4 Smart HVAC Control System

      5. 2.1.5 Audio-video Conferencing System

      6. 2.1.6 Fire and Safety Control System

    2. 2.2 By Building Type

      1. 2.2.1 Retrofits

      2. 2.2.2 New Buildings

    3. 2.3 By Country

      1. 2.3.1 China

      2. 2.3.2 India

      3. 2.3.3 Australia

      4. 2.3.4 Rest of Asia Pacific

APAC Smart Office Market Size FAQs

The APAC Smart Office Market is projected to register a CAGR of 10.5% during the forecast period (2024-2029)

Honeywell International Inc., ABB Ltd., Siemens AG, Cisco Systems Inc. and Schneider Electric SE are the major companies operating in the APAC Smart Office Market.

APAC Smart Office Report Snapshots

Asia Pacific Smart Office Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)