The global integrated workplace management system market value was estimated at USD 3.40 billion in 2020 and is anticipated to propel at a CAGR of 12.8% during the forecast period, 2021–2028. The growth of the market is attributed to the constant acceptance of workplace with digital technology and implementation of automation in the processes.
The integrated workplace management system (IWMS) is a type of software, which bolsters the organizations to improve the use of workplace resources, such as the facilities assets, management of the real estate portfolio, along with infrastructure of a company. The acceptance of technologies such as Software as a Service (SaaS), advanced sensors, advanced analytics, and mobility, are boosting the demand for organization integration. Companies around the world lack insight and transparency in their corporate processes and facilities along with the related data. The use of IWMS provides businesses transparency in all relevant aspects by forming a standardized and structured data source for all types of processes.
The rise of extensive competition in various industries has required the companies to make fast and accurate decisions to stay in competition. Budget constraints, acquisitions & mergers, reorganizations, and several economic factors put pressure on businesses. The pressure on the companies increases the need of integrated workplace management system. The IWMS bolsters tactical, strategic, reports, dashboards, operational decision-making, and permits the companies to generate specific output or analysis on the basis of future forecasts as well as historical trends.
The COVID-19 pandemic has impacted the IWMS vendors in a negative manner. As the pandemic caused various organization to temporarily halt it expenditure on novel automation programs. Whereas, the spending is anticipated to gain momentum from 2021 onwards. Furthermore, market players have experienced a considerable downfall in their revenues of year 2020. Besides, the IWMS market is expected to profit from the rise in the demand for advanced IWMS solutions as risk management capabilities and social distancing, which are as per the COVID-19 restriction protocols and will benefit the industries.
Market Trends, Drivers, Restraints, and Opportunities
- The growing demand for next-generation facility management solutions, globally is the key factor for growth of the IWNS market worldwide.
- The supporting business processes in space and workplace management, asset & maintenance planning and control, project management, services management, real estate management, and sustainability management are the major factors for market growth in the near future.
- The integrated workplace management system (IWMS) offers several benefits such as real-time tracking, reduce costs, flexibility, less energy consumption, disaster recovery, increased efficiency, safety and security, and raised business productivity.
- The rising demand of CAD applications for global enterprise asset management (EAM) as well as for modelling spaces are contributing for the growth opportunities of integrated workplace management system (IWMS) market.
- The factors such as high system maintenance costs, coupled with the lack of a skilled professional are the major restraint for the market growth.
Scope of the Report
The report on the integrated workplace management system market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Integrated Workplace Management System Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Solutions (Real Estate & Lease Management, Facilities & Space Management, Asset & Maintenance Management, Project Management, Environment Management), Services (Professional Services and Managed Services), Deployment (On-premise and Cloud), Enterprise Sizes (Large Enterprises and Small & Medium Enterprises), End-users (Public-sectors, IT & Telecom, Manufacturing, BFSI, Real Estate & Construction, Retail, Healthcare, and Others)
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report
Accruent; ARCHIBUS, Inc.; FM:Systems; FSI (FM Solutions) Limited; International Business Machines Corporation; MRI Software LLC; Nemetschek Group (Spacewell); Planon; SAP SE; and Trimble Inc.
Market Segment Insights
Facilities & space management segment is expected to grow at a rapid pace
Based on solutions, the global integrated workplace management system market is divided into real estate & lease management, facilities & space management, asset & maintenance management, project management, and environment management. The facilities & space management segment is expected to grow at a rapid pace. The segment shows revenue share of 29% in year 2020. This is due to increasing demand of maintenance and for upgrades of existing solutions. It assists in appropriate alignment of infrastructure and administration for fulfillment of main objectives of organizations.
The growth in trend of work-from-home due to the COVID-19 outbreak has increased the space & facilities segment growth as this trend is anticipated to continue for long time. The solution permits the organizations to track space utilization and leads to saving of equipment maintenance along with reduction in replacement expense as it alters the operational parameters such as set temperature, fresh-air intake, and lighting operational hours. These factors contribute for the fast pace growth of the segment in the coming years.
Professional services segment is projected to expand at a considerable CAGR
On the basis of services, the global market is divided into professional services and managed services. The professional services segment is projected to expand at a considerable CAGR owing to the increasing complexities of business operations along with rising acceptance of IWMS solutions. The services offered by the vendors such as software implementations, training, and consulting are the key contributors for the segment.
Vendors provide training for the clients to assist them to optimize efficiency and effectiveness in operating IWMS solutions. The rising demand for maintenance services and third-party support, as it is cost effectiveness and well-trained technicians as well as experienced are expected to bolster the market during the forecast period.
On-premises segment is projected to contribute at a significant rate
Based on deployments, the global market is bifurcated into on-premise and cloud. The on-premises segment is projected to contribute at a significant rate. The increased adoption of on-premises solution by the large enterprises with sufficient budgets, expert technicians, and established physical servers.
The on-premises deployment permits the customers to scale functionalities for managing and upgrading solutions effortlessly. However, the cloud segment also demonstrates ability to grow at significant rate due to the high benefits offered such as scalability, flexibility, and reduce total cost of ownership (TCO).
Large enterprises segment is estimated to propel at a considerable rate
On the basis of enterprises sizes, the global market is classified into large enterprises and small & medium enterprises. The large enterprises segment is estimated to propel at a considerable rate owing to the benefit of simplifying the complex work environment with the use of IWMS. The enterprises requires strong monitoring solutions along with automation abilities to complete tasks such as strategic decision-making and resource allocation.
For the management of employee health and floorspace effectively the IWMS software are used in large enterprises. Post COVID-19 lockdowns the organizations are adopting the use of IWMS for controlling and managing the viral disease spread in the organization.
Manufacturing segment is anticipated to boost in the near future
Based on end-users, the market is segregated into public-sectors, healthcare, real estate & construction, IT & telecom, retail, manufacturing, BFSI, and others. The manufacturing segment is anticipated to boost in the near future owing to the implementation of technology in the manufacturing vertical, which has considerably boosted the competition in the companies. This resulted in increased focus of organizations’ to accept workplace in its manufacturing facilities.
The real-estate and construction segment is projected to demonstrate rapid growth in the coming years. This is attributed to the reduction in operational cost and effective managing of the processed in the real estates. Likewise, the introduction of IWMS by the vendors to satisfy the requirement of organization in the construction vertical and real-estates.
North America is anticipated to constitute a key market share
In terms of regions, the global market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa.
North America is anticipated to constitute a key market share. This is because of the presence of key vendors of the market in the region such as FM:Systems; Accruent; International Business Machines Corporation; and MRI Software LLC. The increasing number of smart building projects is also a major contributing factor for the market growth in the region.
Asia Pacific market is also boosting at rapid rate due to the presence of high population and development processes around the region as it is a developing region. The countries such as China and India are the major contributor for the market development in the region.
Segments Covered in the Report
The global integrated workplace management system market has been segmented on the basis of
- Real Estate & Lease Management
- Facilities & Space Management
- Asset & Maintenance Management
- Project Management
- Environment Management
- Professional Services
- Managed Services
- Large Enterprises
- Small & Medium Enterprises
- IT & Telecom
- Real Estate & Construction
- Asia Pacific
- North America
- Latin America
- Middle East & Africa
- ARCHIBUS, Inc.
- FSI (FM Solutions) Limited
- International Business Machines Corporation
- MRI Software LLC
- Nemetschek Group (Spacewell)
- SAP SE
- Trimble Inc.
The key players in the global integrated workplace management system market are SAP SE; Accruent; ARCHIBUS, Inc.; Nemetschek Group (Spacewell); FM:Systems; International Business Machines Corporation; FSI (FM Solutions) Limited; MRI Software LLCPlanon; and Trimble Inc.. These key players have adopted a series of market strategies including new product launching, entering into partnership, collaboration, and production expansion to enhance their market position and expand their consumer base.