Smart space is a digital or physical environment where humans interact with technology enabled systems in connected as well as coordinated and smart ecosystems.
It provides an environment which is equipped with audio sensing and visual systems that can react to the people without requiring them to wear any special equipment’s. Smart spaces are built on the following technology which include vision, facial expression, gesture recognition, dynamic solution, performance animation and audition. The best example of smart space is the connected homes or smart homes which helps in improving the safety, productivity, convenience and entertainment. Some more instances where smart spaces are used is hospitals, airports, grocery stores and apartment buildings.

Market Analysis and Insights: Global Smart Space Market
The global Smart Space market size is projected to reach US$ 17580 million by 2027, from US$ 9150.8 million in 2020, at a CAGR of 9.3% during 2021-2027.
With industry-standard accuracy in analysis and high data integrity, the report makes a brilliant attempt to unveil key opportunities available in the global Smart Space market to help players in achieving a strong market position. Buyers of the report can access verified and reliable market forecasts, including those for the overall size of the global Smart Space market in terms of revenue.
On the whole, the report proves to be an effective tool that players can use to gain a competitive edge over their competitors and ensure lasting success in the global Smart Space market. All of the findings, data, and information provided in the report are validated and revalidated with the help of trustworthy sources. The analysts who have authored the report took a unique and industry-best research and analysis approach for an in-depth study of the global Smart Space market.

Global Smart Space Scope and Market Size
Smart Space market is segmented by company, region (country), by Type, and by Application. Players, stakeholders, and other participants in the global Smart Space market will be able to gain the upper hand as they use the report as a powerful resource. The segmental analysis focuses on revenue and forecast by Type and by Application in terms of revenue and forecast for the period 2016-2027.

Segment by Type
Hardware
Software
Services

Segment by Application
Energy Management and Optimization
Layout & Space management
Emergency & Disaster Management
Security Management
Others

By Region
North America
U.S.
Canada
Europe
Germany
France
U.K.
Italy
Russia
Nordic
Rest of Europe
Asia-Pacific
China
Japan
South Korea
Southeast Asia
India
Australia
Rest of Asia
Latin America
Mexico
Brazil
Rest of Latin America
Middle East & Africa
Turkey
Saudi Arabia
UAE
Rest of MEA

By Company
Cisco Systems, Inc.
Coor
Eutech Cybernetic Pte. Ltd.
Hitachi Vantara Corporation
Huawei Technologies Co., Ltd.
International Business Machines Corporation (IBM)
Schneider Electric SE
Siemens AG
SmartSpace Software Plc
Spacewell