Smart Space Market by Component, (Hardware, Software, and Services), Space Type (Smart Indoor Spaces and Smart Outdoor Spaces), Application (Energy Management and Optimization, Layout & Space Management, Emergency & Disaster Management, and Security Management, and Others) and End User (Residential and Commercial): Global Opportunity Analysis and Industry Forecast, 2021–2030
A smart space includes digital as well as physical environment where humans and technology can interact with each other. The smart space technology bridges the gap between humans and technology with connected devices and networks that further enhances connectedness and coordination; therefore, reduces extra human efforts and provides efficiency. Moreover, smart space solutions in numerous industries creates more engaging, flexible, and creative environment which results in overall production improvement of the industries. The smart spaces leverage technologies such as IoT connected devices, smart lighting equipment’s, surveillance cameras, sensors, and HVAC systems. These devices and systems thus combined create connected environment across smart spaces.
Proliferation of advanced technologies such as Internet of Things (IoT) and artificial intelligence (AI) drives the growth of smart space market. In addition, rise in Greenfield projects and increase in environmental concerns across the globe are also expected to boost the market growth. However, high initial capital expenditure required for connected devices & other hardware, and rise in privacy concerns pertaining to information manipulation are expected to impede the market growth during the forecast period. Furthermore, increase in smart city initiatives across all the regions and emergence of 5G technology are expected to provide major growth opportunities for smart space market in upcoming years.
The global smart space market is segmented based on component, space type, application, end user, industry vertical, and region. Based on component, the market is divided into hardware, software, and services. Based on space type, it is bifurcated into smart indoor spaces and smart outdoor spaces.
Based on application, it is classified into energy management and optimization, layout & space management, emergency & disaster management, and security management, and others. Depending on end user, it is segmented into residential and commercial. The commercial segment is further categorized into energy & utility, transportation & logistic, healthcare, education, retail, manufacturing, government, and others. Based on region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The report analyzes the profiles of key players operating in the market. These include Cisco Systems, Inc., Eutech Cybernetic Pte. Ltd., Hitachi Vantara Corporation, Huawei Technologies Co., Ltd., International Business Machines Corporation (IBM), Schneider Electric SE, Siemens AG, SmartSpace Software Plc, Spacewell, and others.
KEY BENEFITS FOR STAKEHOLDERS
The study provides an in-depth analysis of the smart space market along with current trends and future estimations to elucidate imminent investment pockets.
Information about key drivers, restrains, and opportunities and their impact analysis on the market size is provided in the report.
Porter’s five forces analysis illustrates the potency of buyers and suppliers operating in the industry.
The quantitative analysis of smart space market for the period 2020–2030 is provided to determine the market potential.
KEY MARKET SEGMENTS
BY COMPONENT
Hardware
Software
Services
BY SPACE TYPE
Smart Indoor Space
Smart Outdoor Space
BY APPLICATION
Energy Management and Optimization
Layout & Space management
Emergency & Disaster Management
Security Management
Others
BY END USER
Residential
Commercial
BY REGION
North America
U.S.
Canada
Europe
UK
France
Germany
Russia
Rest of Europe
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
KEY MARKET PLAYERS
Cisco Systems, Inc.
Coor
Eutech Cybernetic Pte. Ltd.
Hitachi Vantara Corporation
Huawei Technologies Co., Ltd.
International Business Machines Corporation (IBM)
Schneider Electric SE
Siemens AG
SmartSpace Software Plc
Spacewell
List of Company Profiles
Cisco Systems, Inc.
Coor
Eutech Cybernetic Pte. Ltd.
Hitachi Vantara Corporation
Huawei Technologies Co., Ltd.
International Business Machines Corporation (IBM)
Schneider Electric SE
Siemens AG
SmartSpace Software Plc
Spacewell
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