Press Release Source: Report Ocean According to a new report published by REPORT OCEAN on February 14, 2022-the smart space market is projected to grow at a healthy growth rate of over 13.6% over the 2022-2030 forecast period. increase. The global market for smart spaces in 2021 will be US $ 34.68 billion. The global market for smart spaces is projected to grow at a compound annual growth rate (CAGR) of 13.6% during the projected period from 2022 to 2030, reaching US $ 109.3 billion in 2030. Please request a free sample page before purchasing the report: https://reportocean.com/industry-verticals/sample-request?report_id=BWCC444 Market Overview: What is Connected Place or Smart Space? A location with a computerized sensor that provides owners, residents, and managers with more information about their condition and usage. Smart space refers to everything from buildings with networked temperature and motion sensors to cars that continuously report location, performance, and maintenance needs. Smart spaces enabled by technologies such as IoT and 5G wireless can be used not only across regions but also in urban areas to generate real-time data to monitor municipal operations with outstanding efficiency. I can do it. Factors Affecting Market Growth: Various factors are driving the global smart space market, including the growth of cutting-edge technologies such as the Internet of Things (IoT) and AI (artificial intelligence). The increase in Greenfield projects and the growing interest in global environmental issues are expected to drive the growth of the smart space market as a whole. During the forecast period, initial capital spending on connected devices and other hardware and growing privacy concerns related to data manipulation could slow global market growth. Over the next few years, the emergence of 5G technology and the global smart city initiative will provide significant growth opportunities for the global smart space market. COVID-19 Impact Analysis: The COVID-19 pandemic has significantly spurred market growth. This is due to the increase in the construction of secure smart spaces and the introduction of IoT. The spread of smart buildings due to pandemics is also having a positive impact on the market. Smart buildings feature social distance, occupancy tracking / monitoring, ventilation and air conditioning (HVAC) systems, smart heating, and more stringent cleaning requirements. Regional Insights: North America leads the smart space market. A strong technology base, large government investment in innovative smart technologies, and an increase in IoT devices are contributing to the region's market growth. The Asia Pacific region is projected to grow at the fastest rate during the forecast period. Connected systems are becoming more prevalent in the region, driven by ongoing trends in smart homes and offices, along with government-led infrastructure projects. Key competitors: Leading companies in the global market for smart space are: Cisco Systems, IncorporatedCoorEutech Cybernetic Pte. LimitedHitachi Vantara Corporation Huawei Technologies Co., Limited International Business Machines Corporation (IBM) Schneider Electric SESiemens AGSmartSpace Software PlcSpacewellOther Prominent Players Report Scope: The global market for smart space is segmented with a focus on components, space types, applications, end users, and regions. Classification by component: Hardware Software service Classification by space type: Smart indoor space Smart outdoor space Segment by application: Energy management and optimization Layout / space management Emergency / disaster countermeasure security management Other segment by end user: Residential by commercial area , North America (US, Canada, Mexico) Europe (UK, Germany, France, Italy, Spain, Poland, Russia, Netherlands, Belgium, Turkey, Scandinavian countries, and other European countries). Asia Pacific (China, India, Japan, South Korea, Australia, New Zealand, ASEAN countries, other Asia Pacific) Middle East / Africa (UAE, Saudi Arabia, South Africa, Israel, Kuwait, Qatar, Oman, other MEA) South America (Argentina) , Brazil, Other South Africa) Request to confirm the scope of the report: https://reportocean.com/industry-verticals/sample-request?report_id=BWCC444 About us: We are the best market in the industry Survey report provider. Report Ocean believes in providing quality reports to its clients to reach their top and bottom line goals of increasing market share in today's competitive environment. Report Ocean is a "one-stop solution" for individuals, organizations and industries looking for innovative market research reports.To the details of the corporate press release To the top of PR TIMES
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