Global Digital/ Smart Workplace Market: Introduction

A digital/ smart workplace consists of a holistic set of platforms, tools, and environments for work, delivered in a usable, coherent, and productive manner. Smart workplaces make use of technology to connect and engage employees with their work environment. It is majorly enabled through networked platforms, software, IoT technologies, and sensors.

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Global Digital/ Smart Workplace Market – Dynamics

Increasing Need for Social Interaction Expected to Drive the Digital/ Smart Workplace Market

A CDW survey of over 2000 workers showed that 79% of workers employed in the private sector and half of workers employed in the public sector were concerned about feeling isolated and missing human interaction if they were to start telecommuting. Smart working spaces also help solo entrepreneurs to socialize and share their experiences. The increasing need for such services from solo entrepreneurs is expected to drive the demand for smart working places

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Transitioning to New Technology and Processes

System down time and restructuring the whole process of smart workplace and related systems within developing regions such as Asia Pacific, South America, and Middle East & Africa is expected to be comparatively high. This could restrict companies from adopting the technology and hamper the growth of the digital/ smart workplace market.

North America Expected to Dominate the Global Digital/ Smart Workplace Market

In terms of region, the global digital/ smart workplace market can be divided into North America, Europe, Asia Pacific, South America, and Middle East & Africa. North America is expected to dominate the global digital/ smart workplace market during the forecast period, due to increased adoption of IoT and digitized technology by SMEs.

COVID-19 Impact on the Global Digital/ Smart Workplace Market

It is expected that the lock down period in many countries across the globe due to the outbreak of COVID-19 will moderately impact the growth and adoption of digital/ smart workplaces. Smart/digital workplaces need huge investment initially. This may reduce the adoption of smart/digital workplace for the time being due to the economic depression brought about by COVID-19.

Global Digital/ Smart Workplace Market – Competitive Landscape

  • In May 2019, Johnson Controls Inc. (U.S) partnered with Evoteq (UAE) to introduce an end-to-end integrated AI platform for smart buildings and districts by combining their capabilities.

Johnson Controls

Established in 1885, Johnson Controls is headquartered in Cork, Ireland. Johnson Controls is focused on developing energy solutions, integrated infrastructure, and transportation systems. The company designs, manufactures, and installs building products and systems around the world, including heating, ventilation and air conditioning (HVAC) equipment, HVAC controls, energy-management systems, security systems, fire detection systems, and fire suppression solutions.

Global Digital/ Smart Workplace Market: Segmentation

The global digital/ smart workplace market can be segmented based on:

  • Industry
  • Region

Global Digital/ Smart Workplace Market, by Industry

Based on industry, the global digital/ smart workplace market can be divided into:

  • Banking, Financial Services & Insurance
  • Telecom & Information Technology (IT)
  • Manufacturing
  • Construction
  • Wholesale Distribution
  • Non-profit Organizations
  • Chemicals
  • Food and Beverage
  • Retail
  • Others (Hospitality, Government, and Public Sector, etc.)

Regional Analysis of the Global Digital/ Smart Workplace Market:

  • North America
    • U.S.
    • Canada
    • Mexico
    • Rest of North America
  • Europe
    • Germany
    • U.K.
    • France
    • Russia
    • Italy
    • Spain
    • Nordics
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • Singapore
    • Malaysia
    • South Korea
    • Rest of Asia Pacific
  • Middle East & Africa
    • UAE
    • Saudi Arabia
    • South Africa
    • Rest of Middle East & Africa
  • South America
    • Brazil
    • Rest of South America

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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