Market Size of APAC Smart Office Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 10.50 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
APAC Smart Office Market Analysis
The Asia Pacific Smart Office Market is expected to register a CAGR of 10.5% during the forecast period. The consumer's propensity to adopt security solutions rises due to the pandemic scenario and the uncertainty of back into normal life. The aspect of a smart office is looking more practical in the new normal post-COVID-19 in various countries in the Asia Pacific, which is expected to create significant opportunities in the market.
- Several progressions have accelerated smart office demand, driven by digital transformation and changing needs of all stakeholders. One of the drivers is the pandemic's impact on the future of work and the increased adoption of the hybrid work model. However, several existing drivers have grown in importance in the region, with dedicated, intelligent IoT solutions for various use cases.
- The market is witnessing various innovations catering to access cards, data security, and AI capabilities. For instance, in December 2020, SHARP Business Systems (India) Pvt. Ltd. launched an integrated package of workplace solutions designed to meet the needs of working professionals operating remotely in the COVID-19. Sharp offers high-end Digital Multifunctional Printers (MFPs) in both color and mono as part of the integrated deal, with contactless printing through access cards, data security, and AI capabilities such as voice assist and high-speed scanning to digitize documents.
- Also, various collaborations are witnessed in the region to ensure adherence to critical safety protocols such as capacity thresholds, mask-wearing, social distancing, and air quality. For instance, in May 2021, Infosys and RXR Realty partnered to create and deploy a comprehensive Smart Officeform solution that runs on Microsoft Azure. RxWell, a public-health-based, data-driven framework, offers health and wellness insights and management tools for property managers, tenant administrators, and office workers to aid in a safe return to work after a medical emergency.
- The market vendors are combining several data-driven and digitally-enabled services and solutions to improve work expertise and efficiency, realize the cost and energy savings, and add value to the office through apps for various stakeholders.
