Internet
of Things (IoT) is the inter-networking of buildings, vehicles,
physical devices, and other items embedded with sensors, software,
actuators, electronics, and network connectivity that allows these
objects to exchange and collect data. Introduction of Internet of
Things at the workplace is transforming it digitally with experiences
and interactions presented to enormous number of users across
numerous locations, devices, and time. IoT at workplace aids in
enhancing satisfaction of the employee by offering a consumer-style
experience supported by automation, analytics, self-service, and
profile-based support. There is a rising usage of sensors, beacons,
and other smart devices that collect data to automate, streamline
operations, manufacturing, and enhance user experiences.
The
IoT at workplace market is primarily driven by the increasing
workplace collaboration across the world. Rapid development of new
technologies is likely to help advance ease of collaboration.
Businesses are likely to swiftly discover more efficient and new
techniques due to the merger of Internet of Things and Video
conferencing to convey teams together worldwide and more effectively
engage and manage employees. Another important driver responsible for
driving the market is the increasing demand for data-driven workplace
across the world. It was difficult for companies to understand the
impact of their decisions, as they were unable to track all
activities in their workplace. However, with the advent of IoT, it is
changing. Companies are likely to employ connected sensors to collect
enormous amount of data about their employee activities in the
workplace. This data is likely to help companies redesign work spaces
and rework policies to improve employee satisfaction and productivity
with their work.
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Despite
of numerous driving factors in the Internet of Things at workplace
market, there are few factors that are likely to hinder the expansion
of the market during the forecast period. Data security and privacy
concern are few such factors that are estimated to hinder the
expansion of this market during the forecast period. A major risk for
any industry is the chance of data being compromised since every
device and machine is connected to the internet.
Advancement
of technology is an important factor creating ample opportunities in
the internet of things at workplace market globally. Most companies
are already seriously focused on developing products that operate
flawlessly across numerous devices, crafting a platform for the
improvement of custom-built mobile apps that simply assimilate with
existing products and services. There are various types of connected
devices and technology from smart glasses to wearable and beyond;
however, the actual opportunity arises when these devices are
connected together. When combined together, these connected devices
provide great opportunities and represent the next major dive in
human-device interaction.
In
terms of type, the Internet of Things (IoT) at workplace market can
be segmented into smart lighting, energy management systems, security
and access control, HVAC control, audio video conferencing system,
and others. In terms of application, the Internet of Things (IoT) at
workplace market can be segmented into media, infrastructure
management, environmental monitoring, energy management, healthcare
and medical, building and home automation, and others. In terms of
geography, the global IoT at workplace market can be segmented into
North America, Asia Pacific, Europe, Middle East & Africa, and
Latin America. North America is anticipated to dominate the Internet
of Things at workplace market globally during the forecast period.
Advancement in technology and rapid digitalization are key factors
responsible for the expansion of the market in North America.
Additionally, Asia Pacific is likely to be the most attractive market
globally due to the increasing adoption rate of newer technologies.
Leading
companies operating in the global Internet of Things at workplace
market include ABB Ltd. (Switzerland). Cisco Systems Inc. (U.S.),
Crestron Electronics (U.S.), Honeywell International (U.S.), Johnson
Controls (U.S.), Koninklijke Philips N.V (the Netherlands), Lutron
Electronics (U.S.), Schneider Electric (France), Siemens AG
(Germany), Telkom SA Soc Ltd. (South Africa), and United Technologies
Corporation (U.S.).
The
report offers a comprehensive evaluation of the market. It does so
via in-depth qualitative insights, historical data, and verifiable
projections about market size. The projections featured in the report
have been derived using proven research methodologies and
assumptions. By doing so, the research report serves as a repository
of analysis and information for every facet of the market, including
but not limited to: Regional markets, technology, types, and
applications.
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