According to a new report Global Smart Space Market, published by KBV research, The Global Smart Space Market size is expected to reach $18.4 billion by 2026, rising at a market growth of 12.3% CAGR during the forecast period.
The service segment is expected to record the highest growth rate in the coming years. Services are an integral part of the execution of lifecycle and software deployment. Services, such as consulting, product support, and maintenance, are essential at various stages, from pre-sales requirement valuation to post-sales product execution and deployment, thus assisting the customer to get better ROI. Smart space is shifting the way engineers and designers make new product designs and modifications.
The Energy Management & Optimization market dominated the Global Smart Space Market by Application 2019. The Emergency Management market is estimated to grow at a CAGR of 12.8% during (2020 - 2026). Additionally, The Security Management market would showcase a CAGR of 12.7% during (2020 - 2026).
North America led the market in 2019. Moreover, APAC is growing at the fastest rate in the global smart space market and likely to see significant growth in the coming years. APAC is experiencing dynamic changes in terms of both adoptions of advanced business-related technologies and home automation. India, Australia, China, and Singapore have seen significant growth in the global smart space market. China is the largest market in APAC, as it has a broad customer base and shifting buying preferences of end-users.
Full Report: https://www.kbvresearch.com/smart-space-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of ABB Group, Cisco Systems, Inc., Siemens AG, Huawei Technologies Co., Ltd. (Huawei Investment & Holding Co., Ltd.),IBM Corporation, Schneider Electric SE, Hitachi, Ltd., Nemetschek Group (Spacewell International), SmartSpace Software PLC and Avnet, Inc. (Softweb Solutions, Inc.)
Global Smart Space Market Segmentation
By Component
- Solutions
- Services
By Application
- Energy Management & Optimization
- Emergency Management
- Security Management
- Others
By Premises Type
- Commercial
- Residential
- Others
By Geography
North America
- US
- Canada
- Mexico
- Rest of North America
Europe
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Companies Profiled
- ABB Group
- Cisco Systems, Inc.
- Siemens AG
- Huawei Technologies Co., Ltd. (Huawei Investment & Holding Co., Ltd.)
- IBM Corporation
- Schneider Electric SE
- Hitachi, Ltd.
- Nemetschek Group (Spacewell International)
- SmartSpace Software PLC
- Avnet, Inc. (Softweb Solutions, Inc.)
