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Booming Digital Technologies underscore Growth in Smart Workplace Market: TMR
ALBANY, N.Y. , Oct. 1, 2020 /PRNewswire/ -- Need for systemizing the daily tasks assigned to employees and the emergence of digitalization to change the face of the traditional workplace are prominent factors influencing the growth of the global smart workplace market positively.
According to the researchers at Transparency Market Research (TMR), the global smart workplace market may expand at a CAGR of ~17 percent during the assessment period of 2020-2030. The global smart workplace market is valued at ~US$ 26 bn in 2020 and is extrapolated to reach US$ 121 bn by 2030.
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The analysts at Transparency Market Research credit most of the growth to factors like enhancements in sensors, rising utilization of IoT, and technological advancements. The analysts also point out the overwhelming rise of smart cities as an ideal growth factor.
The TMR analysts also advise the players in the smart workplace market to leverage the diverse advancements in technology in the workplace mechanisms and impart them to the end-users at cost-effective prices to increase their revenue.
The advent of the novel coronavirus pandemic is increasing the demand for the smart workplace market greatly. Hence, this factor may serve as one of the significant growth factors across the smart workplace market.
Analyze global smart workplace market growth in 30+ countries including US, Canada , Germany , United Kingdom , France , Italy , Russia , Poland , Benelux, Nordic, China , Japan , India , and South Korea . Request a sample of the study
As the scenario of workplace mechanism is changing rapidly due to the advent of the SARS-CoV-2 outbreak, the smart workplace market is gaining good growth. The emergence of novel technologies is being observed through innovations, mergers, acquisitions, and partnerships. For instance, Exponential-e, a unified communication service and L&T Technology Services Ltd have entered into an agreement to provide workplace transformation solutions to people working in the post-COVID environment. Such developments bring good growth for the smart workplace market.
New players are also entering the smart workplace market. Zoho Corporation, a software development company recently launched Zoho Workplace to compete with tech giants like Google and Microsoft.
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