Key Findings
The smart spaces market of Asia Pacific is anticipated to register a CAGR of 18.64% over the projected period, 2020-2028. Some of the factors fueling the market growth in the region are the increasing need to build energy-efficient yet sustainable sources to save electricity, and boost in initiatives of smart cities in developing countries like India and China.

Market Insights
In order to assess the smart spaces market further, the region of Asia Pacific is divided into countries like Singapore, Japan, Australia, South Korea, China, India, and the rest of the Asia Pacific that consists of Malaysia, Thailand, and Indonesia. In South Korea, smart cities are a strategic part of national economic policy for the fourth industrial revolution. The government is attempting to make Korea’s economy competitive through the development and commercialization of 4IR technologies such as artificial intelligence, big data, and data analytics, IoT, and blockchain. These factors are influencing the market growth. Singapore considers IoT a major element to realize its vision of a smart nation. CODEX is a digital platform that helps the government to provide for better, cost effective, and quicker digital services.
The Australian government is committed to the ’Smart Cities Plan,’ which is a vision for ’productive and livable cities’ that stimulates innovation and growth. The IoT market in the Australian region is expected to grow due to the increasing demand for smart devices like phones, fitness bands, watches, etc., along with the development of cloud based applications, and technological advancements. These are the factors driving the market growth in Australia. In countries like Indonesia and Thailand, initiatives are being taken to develop smart cities. In Malaysia, the government aims to turn the country into a leading regional IoT development hub, through the National IoT Strategic Roadmap. These principal factors are steering the market growth in the region.

Competitive Insights
Eutech Cybernetics Pte, Ltd, IBM, Huawei Technologies, Hitachi Vantara, Siemens AG, etc. are some of the prominent companies in the market.
Our report offerings include:

  • Explore key findings of the overall market
  • Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
  • Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
  • Market Segmentation cater to a thorough assessment of key segments with their market estimations
  • Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
  • Key analytics: Porter’s Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
  • Competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
  • Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments


SEGMENTATION
1. IBM
2. CISCO SYSTEMS, INC.
3. COOR
4. EUTECH CYBERNETICS PTE, LTD
5. HITACHI VANTARA
6. HUAWEI TECHNOLOGIES CO. LTD.
7. SCHNEIDER ELECTRIC SE
8. SIEMENS AG
9. SMARTSPACE SOFTWARE PLC
10. SPACEWELL