According to the MarkNtel Advisors' research report, "GCC Smart Space Management Systems Market Analysis, 2021," the market shall grow at a CAGR of 10.2% in the forecast period of 2021-26. It owes to the increasing adoption of IoT-enabled building management systems, rising consumer preference & adoption of information technologies applications that shall enhance the growth of the GCC Smart Space Market.
Consulting service segment to Attain Largest Share
Based on service, the GCC Smart Management Systems Market segments into consulting, deployment & integration, and support & maintenance. The consulting service segment is likely to attain the largest market share in the forecast period. It provides an understanding of the importance of smart building solutions. Increasing consumer awareness for proper space utilization is another critical factor likely to propel the segment growth in the market.
“GCC Smart Space Management Systems Market Analysis, 2021” provides comprehensive, qualitative, and quantitative insights on the market potential, key factors impacting the market growth, hotspots, and opportunities available for Smart Space Management Systems providers across the countries. Moreover, the report also encompasses the key strategic imperatives for competitors' success and strategic factorial indexing to measure their capabilities on 16 parameters, which will help companies formulate 'Go to Market' strategies and identify the blue ocean for their offerings.
UAE to Witness Fastest Market Growth
UAE is likely to witness substantial market growth in the forecast period of 2021-26. The region is growing fastest in the Smart space market due to undergoing progressive developments toward the enactment of innovative & advanced business-related technologies with home automation. Further, the region shall also witness significant growth due to its broad customer base & evolving buying choices of end-users. In recent years, the government proclaimed its plans to become a Smart nation, which presents the country as a market with multiple opportunities. Therefore, based on these factors, UAE shall witness the fastest growth rate and contribute to the overall market growth in the forecast period, reveals MarkNtel Advisors in their research report, "GCC Smart Space Management Systems Market Analysis, 2021."
According to MarkNtel Advisors, the leading players in the GCC Smart Space Management Systems Market are IBM, ABB, Siemens, Hitachi Vantara, Condeco, Sauter Controls, Infosys, Smart Space Global, Cisco, Oracle.
Key questions answered in the study