Key Findings
The North American market for smart spaces is anticipated to reach a CAGR of 13.03% during the projected period, 2020-2028. The factors boosting the market growth in the region are the increased government investment initiatives in smart city and smart home, and also a rise in investment in the Internet of Things (IoT).

Market Insights
In order to evaluate the smart spaces market further, the market region of North America is divided into the regions of the US and Canada. The Canadian government is helping to develop the Canadian cities by arranging ambitious smart city programs like the Smart Cities Challenge Program. The funding by the government will help the winning cities to enhance the lives of their residents through innovation, data, and connected technologies, through concrete planning. IoT technology is being implemented by the Canadian government to reduce expenditure to increase profitability and productivity. Many companies have integrated the IoT technology. However, are a number of challenges faced by the Canadian government, business leaders, and post-secondary institutions, were identified. The privacy and security issues, understanding and acceptance of IoT technology, availability of skilled labor, and a buildout of the infrastructure necessary to become an IoT leader, are the challenges that need to be tackled for further growth. Also, in the US, the investments in the 5G network are set to result in considerable market growth opportunities.

Competitive Insights
Cisco Systems Inc., Hitachi Vantara, IBM, SmartSpace Software Plc., Siemens AG, etc. are some of the renowned companies operating in the region.
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