The global smart space market size reached USD 13.19 Billion in 2020 and is expected to register a revenue CAGR of 17.9% during the forecast period, according to latest analysis by Emergen Research. Increasing demand for green buildings due to environmental concerns and increasing urban population are factors projected to support market revenue growth between 2021 and 2030.
In addition, increasing demand for smart technology in public spaces will boost revenue growth of the market going ahead. The use of smart devices in public settings has increased steadily globally. Smart shops, parks, transport networks, hospitals, stadiums, and restaurants are some of the application areas that have been turned into smart environments. The use of smart technology at such locations is expected to gain traction over time and is a factor expected to drive revenue growth of the global smart space market.
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However, high capital expenditure is one of the key factors expected to hamper market revenue growth to some extent during the forecast period. In addition, limited resources and technology in emerging economies are likely to constrain global market growth to some extent. Smart space solutions and services are a relatively new market, and many organizations are focused on entering the market with cutting-edge products, solutions, and services. As a result, early market entrants and investors would need to spend a significant amount to get these technologies implemented and deployed.
The research report offers in-depth insights into company profiles along with their production values, production capacity, product portfolio, strategic plans such as mergers and acquisitions, joint ventures, collaborations, product launches and brand promotions, government and corporate deals, among others. The report, additionally, offers a comprehensive SWOT analysis and Porter’s Five Forces analysis to offer a better understanding of the competitive landscape of the industry.
Companies profiled in the global Smart Space market:
ABB Ltd.,
Cisco Systems Inc.,
Siemens AG,
Huawei Technologies Co. Ltd.,
SmartSpace Software Plc,
Hitachi Vantara Corp.,
Iconics Inc.,
Smarten Space,
Softweb Solution Inc., and
Ubisense Group Plc.
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Emergen Research has segmented the global smart space market on the basis of type, component, application, end-use, and region:
Type Outlook (Revenue, USD Billion; 2018–2028)
Smart Indoor Space
Smart Outdoor Space
Component Outlook (Revenue, USD Billion; 2018–2030)
Solutions
Services
Application Outlook (Revenue, USD Billion; 2018–2030)
Energy Management and Optimization
Emergency Management
Security Management
Layout and Space Management
End-Use Outlook (Revenue, USD Billion; 2018–2030)
Residential
Commercial
Utility
Transportation & Logistic
Retail
Manufacturing
Government
Healthcare
Education
Others
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The Global Smart Space Market is further analyzed across the key geographical locations where the market has expanded to a significant size. The key region analyzed are North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The report offers a country-wise analysis to provide a comprehensive analysis of the Smart Space market in terms of production and consumption patterns, supply and demand ratio, import/export, revenue contribution, trends, and presence of prominent players in each region.
Regional Analysis Covers:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
ToC of the report:
Chapter 1: Market overview and scope
Chapter 2: Market outlook
Chapter 3: Impact analysis of COVID-19 pandemic
Chapter 4: Competitive Landscape
Chapter 5: Drivers, Constraints, Opportunities, Limitations
Chapter 6: Key manufacturers of the industry
Chapter 7: Regional analysis
Chapter 8: Market segmentation based on type & applications
Chapter 9: Current and Future Trends
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