Smart Space Market: Emerging Players with Size and Share, Regional Trends and Strategies Forecast 2021-2024

Smart Space

The “Smart Space Market” Report provides a thorough examination of the market. The Smart Space Market research investigates how firms in the Smart Space Market are reacting to changing market conditions by examining major industry strategies. The report covers current top players are recognised and rated based on their market shares. It also includes data on leading manufacturers, market segmentation by types, applications, and geographic regions. Market capacity, production, consumption, sales, and revenue are all discussed in this Smart Space market report.

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Competitor Analysis:

Smart Space market covers the vision of competitor analysis by product types, market share, applications, sales and revenue. It covers the top key players like –

  • ABB Ltd.
  • Siemens AG
  • Adappt Intelligence Inc.
  • Spacewell Faseas (Nemetschek Group)
  • Cisco Systems Inc.
  • ICONICS, Inc.
  • Ubisense Limited
  • Hitachi Vantara Corporation
  • SmartSpace Software Plc
  • Microsoft Corporation

    Market Overview:

  • The smart space market is expected to grow at a CAGR of 18.4% over the forecast period (2019 – 2024). Smart space allows users or organizations to attain revenue growth by allowing them to set a strategy and helps in improved decision making, a better understanding of demand patterns and business trends and improve efficiency and financial results through higher conversion and better space utilization.
  • – The increasing demand for IoT coupled with the increase in the environmental concerns are some of the factors contributing to the growth of the smart space market over the forecast period.
  • – For instance, in September 2018, Microsoft announced Azure Digital Twins that allows the user with the help of the cloud, AI and IoT to Create digital replicas of spaces and infrastructure.
  • – With benefits such as flexibility, scalability being the core of the smart space solution offered by the providers, it is expected to fuel the growth for the smart space market throughout the forecast period.
  • – The rapid increase in the urbanization coupled with the advent of new technologies like 5G is expected to augment the growth for the smart space market over the forecast period.
  • – IBM’s cognitive building solutions gives the real estate and facilities management professionals with required tools necessary for the reduction of operating costs, better management of energy, optimizing space, simplifying the real estate planning and management.
  • – However, the high initial capital investment required could act as the restraining factor in the growth of the smart space market.

    Key Market Trends:

    Commercial Segment Estimated to Hold the Largest Market Share

    – The commercial segment comprises of office spaces, hotels, hospitals, malls, shopping complexes, restaurants and many more. These organizations with the help of smart space solutions can monitor costs and revenue, develop business plans and redefine financial goals.
    – For instance, Adappt with the help of its solutions is able to redefine the way organizations their workplace assets by using an integrated systems approach, the Adappt Cognitive Premise solution provides analytics, control, applications, and optimization to tailor each organization workplace according to its unique personality.
    – The companies looking forward to expanding their business footprint across different geographies is one of the major factors contributing to the growth of the smart space market over the forecast period.
    – For instance, in May 2019, Mitsubishi Electric Corporation announced a 100% acquisition of ICONICS, Inc. in a move that would allow Mitsubishi to strengthen its software portfolio and technology.

    Europe is Expected to Hold a Significant Market Share

    – The North Western European region faces a great challenge of shifting towards an economy which has a low carbon footprint. With Municipalities accounting for 70% of the NWE energy consumption and CO2 emission as well as standard public street lighting accounts for approximately 30% of municipalities‘ total electricity consumption Smart Space solutions.
    – Smart space aims promote the usage of smart lighting in small/mid-size municipalities along with the sensors attached to light poles, energy efficiency can be enhanced, CO2 emissions can be reduced and street lighting can be adjusted as per the requirements. This could augment the growth of the smart space market across the entire region.
    – With European cities on the driver’s seat to become SMART is one of the driving factors that could boost the smart space market over the forecast period. For instance, The European Smart Space project aims at increasing the innovation capabilities of industrial SMEs by exploiting the potential of intelligent and digital technologies.

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    Scope of the Report:

    Smart space is a physical environment deployed with technology such as monitors and sensors that allows humans to interact with the technology-enabled systems.

    Highlighted points of Smart Space Market Report:

    • Varying dynamics of the Smart Space industry.
    • Prospective changes in sales volumes and worldwide share growth in upcoming years
    • Smart Space market report recognizes the key drivers of growth and challenges of the key industry players.
    • Competitors profiles along with product description, overview, and business data.
    • Complete analysis of market risks, opportunities, limitations, and growth of the market.
    • Market driving and restraining factors.
    • Delivers information on the historical and current market size and the future potential of the market.
    • Smart Space market report provides comprehensive analysis of the market with respect to market dynamics, competitive analysis, and upcoming trends of market.

    Key Benefits of this Smart Space Market report:

    • The Smart Space market report provides a comprehensive analysis of the current trends and future estimations in the world mining equipment market to identify the potential investment pockets.
    • The Smart Space market report presents information regarding key drivers, restraints, and opportunities with a detailed impact analysis.
    • Quantitative analysis of the current trends and forecasts to 2024 is provided to showcase the financial competency of the Smart Space market.
    • Porter’s Five Force model of the industry and SWOT analysis illustrate the potency of the buyers & suppliers.
    • Value chain analysis provides a clear understanding of the roles of stakeholders involved.

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    Detailed TOC of Smart Space Market Report:

    1.1 Study Deliverables
    1.2 Study Assumptions
    1.3 Scope of the Study



    4.1 Market Overview
    4.2 Introduction to Market Drivers and Restraints
    4.3 Market Drivers
    4.3.1 Increasing Adoption of IoT
    4.3.2 Increasing Urban Population
    4.4 Market Restraints
    4.4.1 High Initial Infrastructure Expenditure
    4.5 Industry Attractiveness – Porter’s Five Force Analysis
    4.5.1 Threat of New Entrants
    4.5.2 Bargaining Power of Buyers/Consumers
    4.5.3 Bargaining Power of Suppliers
    4.5.4 Threat of Substitute Products
    4.5.5 Intensity of Competitive Rivalry
    4.6 Industry Value Chain Analysis

    5.1 Type
    5.1.1 Solutions
    5.1.2 Services
    5.2 By End-user Industry
    5.2.1 Commercial
    5.2.2 Residential
    5.3 Geography
    5.3.1 North America
    5.3.2 Europe
    5.3.3 Asia-Pacific
    5.3.4 Latin America
    5.3.5 Middle East & Africa

    6.1 Company Profiles
    6.1.1 ABB Ltd.
    6.1.2 Siemens AG
    6.1.3 Adappt Intelligence Inc.
    6.1.4 Spacewell Faseas (Nemetschek Group)
    6.1.5 Cisco Systems Inc.
    6.1.6 ICONICS, Inc.
    6.1.7 Ubisense Limited
    6.1.8 Hitachi Vantara Corporation
    6.1.9 SmartSpace Software Plc
    6.1.10 Microsoft Corporation



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