The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
Smart Space Market Size, Growth Rate, And Forecast:
The global smart space market size grew from $17.1 billion in 2022 to $19.57 billion in 2023 at a compound annual growth rate (CAGR) of 14.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The smart space market size is expected to grow to $31.35 billion in 2027 at a CAGR of 12.5%.
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Smart Space Market Drivers:
Green building initiatives and environmental concerns are expected to propel the growth of the smart space market going forward. A green or sustainable building is a building that maintains or improves the quality of life of the environment in which it is located. These buildings rely on smart technology that is incorporated into the entire system to improve the building’s performance and functionalities. These technologies not only store data but also analyze it and deliver relevant results.
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Smart Space Market Segments
•By Component: Hardware, Software, Services
•By Space Type: Smart Indoor Space, Smart Outdoor Space
•By Application: Energy Management and Optimization, Layout and Space management, Emergency & Disaster Management, Security Management, Other Applications
•By Industry: Banking, Financial Services and Insurance (BFSI), Retail and E-Commerce, Government, Media and Entertainment, Food and Beverages, Healthcare, Automotive, Other Industries
•By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the smart space market.
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Smart Space Market Key Players:
Major competitors in the smart space market include Cisco Systems Inc., Microsoft Corporation, 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, ABB, Adappt, Ubisense, Smarten Space, and Avnet Inc. (Softweb Solutions Inc.).
The Business Research Company’s “Global Smart Space Market Report 2023” is a comprehensive report of the market, covering over 60 geographies and high level market segmentation per geography. The section on regional and country breakdowns examines the market in each geography as well as market size by region and country. Furthermore, it evaluates the market’s historical and projected growth and identifies significant trends and strategies that businesses can use to expand their operations.
The Table Of Content For The Smart Space Market Include:
1. Executive Summary
2. Smart Space Market Characteristics
3. Smart Space Market Trends And Strategies
4. Smart Space Market – Macro Economic Scenario
5. Smart Space Market Size And Growth
26. Africa Smart Space Market
27. Smart Space Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Smart Space Market
29. Smart Space Market Future Outlook and Potential Analysis
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