DUBLIN--(BUSINESS WIRE)--The "Smart Space Market by Component, Space Type, Application, and End User: Global Opportunity Analysis And Industry Forecast, 2018-2026" report has been added to ResearchAndMarkets.com's offering.
According to the report, the global smart space market size was valued at $23,519 million in 2018 and is projected to reach $86,516 million by 2026, growing at a CAGR of 17.6% from 2019 to 2026.
Proliferation of advanced technologies such as internet of things (IoT) and artificial intelligence (AI) are driving the growth of smart spaces market. In addition, rising greenfield projects and increasing environmental concerns across the globe is also expected to boost the market growth.
However, high initial capital expenditure required for connected devices & other hardware, and growing privacy concerns pertaining to information manipulation are expected to impede the smart space market growth during the forecast period.
Furthermore, growing 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.
Based on component, the hardware segment dominated the overall smart space market size in 2018 and is expected to remain dominant during the smart space market forecast period. The growth of this segment is mainly attributed to the increase in adoption of smart devices in smart homes and buildings. In addition, growth in security concerns is also one of the major factors fueling the demand for security cameras, thus driving the demand for more hardware in smart spaces.
North America dominated the overall smart space market in 2018 and is expected to remain dominant during the forecast period due to presence of the major market players and growth in investment in Internet of Things (IoT) in this region. Furthermore, Asia-Pacific is expected to generate highest growth rate throughout the forecast period. Growth in initiatives of smart cities in developing countries such as India and China, and need to build energy efficient yet sustainable sources to save electricity are expected to drive the smart space market growth in this region.
Some of the key smart space industry players profiled in the report 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.
- Based on space type, the smart indoor space segment generated the highest revenue for smart space market share in 2018 and is expected to dominate throughout the forecast period, the increase in trend of making homes, buildings, and indoor spaces smarter driving the market growth of this segment.
- Based on application, the energy management and optimization segment dominated the overall market in 2018 and is expected to generate highest revenue during the forecast period. The growth of this segment is mainly attributed to increase in need for efficient management of energy resources and increase in trend of smart lighting systems.
- In terms of end user, the commercial segment generated the highest revenue for smart space market share in 2018 and is expected to dominate throughout the forecast period. Globally numerous companies are adopting intelligent space platforms to create their offices livelier and more connected as it directly influences on workplace productivity and their revenues.
Key Topics Covered
CHAPTER 1: INTRODUCTION
1.1. Report description
1.2. Key benefits for stakeholders
1.3. Key market segments
1.4. Research methodology
1.4.1. Secondary research
1.4.2. Primary research
1.4.3. Analyst tools & models
CHAPTER 2: EXECUTIVE SUMMARY
2.1. Key findings
2.1.1. Top impacting factors
2.1.2. Top investment pockets
2.2. CXO perspective
CHAPTER 3: MARKET OVERVIEW
3.1. Market definition and scope
3.2. Key Forces Shaping Smart spaces Market
3.2.1. Moderate-to-high bargaining power of suppliers
3.2.2. Low-to-high bargaining power of buyer
3.2.3. Low-to-high threat of substitutes
3.2.4. Moderate-to-high threat of new entrants
3.2.5. Low-to-high competitive rivalry
3.3. Industry Evolution: Smart spaces Market
3.4. Value Chain Analysis
3.5. Case Studies
3.5.2. Unibail Rodamco
3.6. Impact of government regulations on global smart spaces market
3.7. Market dynamics
22.214.171.124. Proliferation of advanced technologies such as internet of things (IoT) and artificial intelligence (AI)
126.96.36.199. Increasing environmental concerns
188.8.131.52. Rising greenfield projects
184.108.40.206. High Initial Capital Expenditure
220.127.116.11. Growing privacy concerns pertaining to information manipulation
18.104.22.168. Growing smart cities initiatives
22.214.171.124. Advent of 5G technology
CHAPTER 4: SMART SPACES MARKET, BY COMPONENT
CHAPTER 5: SMART SPACES MARKET, BY SPACE TYPE
5.2. Smart Indoor Space
5.3. Smart Outdoor Space
CHAPTER 6: GLOBAL SMART SPACE MARKET, BY APPLICATION
6.2. Energy Management and Optimization
6.3. Layout & Space management
6.4. Emergency & Disaster Management
6.5. Security Management
CHAPTER 7: SMART SPACES MARKET, BY END USER
CHAPTER 8: SMART SPACES MARKET, BY INDUSTRY VERTICAL
8.2. Energy & Utility
8.3. Transportation & Logistic
CHAPTER 9: SMART SPACES MARKET, BY REGION
9.2. North America
CHAPTER 10: COMPETITIVE LANDSCAPE
10.1. Market Player Positioning, 2018
10.2. Top Winning Strategies
CHAPTER 11: COMPANY PROFILES
11.1. Cisco Systems Inc.
11.3. Eutech Cybernetic Pte. Ltd
11.4. Hitachi Vantara Corporation
11.5. Huawei Technologies Co. Ltd.
11.6. International Business Machines Corporation
11.7. Schneider Electric SE
11.8. Siemens AG
11.9. SmartSpace Software PLC
For more information about this report visit https://www.researchandmarkets.com/r/88u81l