Global Smart Workplace MarketSize and Trends

Increasing adoption of advanced technology and change in work culture of enterprises are key factors driving growth of the smart workplace market

Increasing adoption of cloud computing, artificial intelligence (AI), IoT, and automation are helping organizations to increase their productivity and enterprises mobility, which is expected to support growth of the smart workplace market worldwide. For instance, in July 2016, the Johnson & Johnson Group announced that the company had transferred more than 500 terabytes of data to the Amazon Web Services (AWS), which proportionally helped the company in saving resources of the company such infrastructure cost and administrative cost of the organisation. Moreover, in September 2016, Amazon announced that from Amazon Echo devices, which is AI-based voice controller, it had generated sales of US$ 1.3 billion in 2016 and it is increased to US$ 2.2 billion in 2017. This echo device can be used in the e-Commerce sector to get updated of the store including the number of sales, requirement for stock refilling, sales data, details of unfulfilled orders, and bestselling products. Thus, the usage of echo device helps to quickly execute a task just by using voice. Moreover, this device also helps in streamlining their tasks such as timely fulfilling the customers’ orders. Furthermore, in June 2017, Amazon Whole Food, which is a segment of the company that delivers both natural and organic food to customers, adopted IoT solutions, in order to increase revenue regeneration. For instance, Amazon Fresh segment generated US$ 40 billion revenue in 2017, which exhibited an increase from US$ 32.6 in 2016. Additionally, the adoption of IoT helps in delivering high quality of packaged food as IoT reduces the downtime of the manufacturing process and tracks the performance, conditions, and maintenances of various machines in the processes.

Hence, adoption of these smart solutions helps in transforming workplaces by integrating smart devices and solutions in the workplace, which in turn helps in increasing the productivity of the employee by enhancing transparency in communication, and helps in better decision making, consequently helping the organisation to respond to customer effectively. Hence, these factors are expected to propel growth of the smart workplace market.

Market Trends

Smart workplace is a workspace in which employees are able to perform their tasks or work more efficiently by using smart devices. The major benefits of smart workplace are that they help in minimizing the wastages of business resources such as paper, raw material, lighting cost, others. Adoption of various technologies such as iOffice workplace software, assets management software, and cloud technology, AI among others solutions help in creating predictive maintenance models and identify trends in data, which help employees to analyse faster, in order to improve decision making in real-time. Thus, these solutions are expected to increase the productivity of the business and helps in automating work processes.