Market Research Report
Integrated Workplace Management Systems (IWMS)
|Integrated Workplace Management Systems (IWMS)|
Published: October 1, 2021
Global Industry Analysts, Inc.
Content info: 239 Pages
Delivery time: 1-2 business days
Global Integrated Workplace Management Systems (IWMS) Market to Reach US$5.7 Billion by the Year 2026
The IWMS or Integrated Workplace Management System, otherwise called CAFM or Computer-Aided Facility Management, assists the management executives in delivering a correct picture of facilities data. IWMS allows the management executives to use dashboards and reports embedded with prime performance indicators to rapidly identify the areas experiencing inefficiencies inside the facilities. IWMS market is anticipated to grow rapidly, due to the growing adoption of IoT, and ICT by various industry verticals. Additionally, the deployment of cloud-based models of IWMS solutions is assisting the organizations in using the advanced solutions, with no investments in physical infrastructure. Majority of the end-user industries are using IWMS technology because of the technical specification component comprising strategic planning of decision-making which increases expense control and productivity, which in turn drives the IWMS market growth. Businesses are gradually avoiding the conventional methods and shifting towards digital resolution for proceedings such as lease management, project management, facilities & space management, and asset and maintenance management. Increased demand for enhanced operational and well-organized solutions offering the services and solutions of enhanced superiority is anticipated to drive the IWMS demand. Disaster recovery, consolidation of the data center, security and safety, tracking in real-time, integrated procedures, and less energy consumption are also projected to drive market growth.
Amid the COVID-19 crisis, the global market for Integrated Workplace Management Systems (IWMS) estimated at US$2.9 Billion in the year 2020, is projected to reach a revised size of US$5.7 Billion by 2026, growing at a CAGR of 11.9% over the analysis period. Solutions, one of the segments analyzed in the report, is projected to grow at a 11% CAGR to reach US$4 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Services segment is readjusted to a revised 13.7% CAGR for the next 7-year period. This segment currently accounts for a 33.4% share of the global Integrated Workplace Management Systems (IWMS) market. The Solution segment`s growth is facilitated by increasing focus of organizations to upgrade and maintain existing systems to streamline administrative procedures. These solutions assist companies in ensuring effectiveness of infrastructure and managerial support aspects for achieving business objectives.
The U.S. Market is Estimated at $952.8 Million in 2021, While China is Forecast to Reach $670.5 Million by 2026
The Integrated Workplace Management Systems (IWMS) market in the U.S. is estimated at US$952.8 Million in the year 2021. The country currently accounts for a 30.33% share in the global market. China, the world`s second largest economy, is forecast to reach an estimated market size of US$670.5 Million in the year 2026 trailing a CAGR of 15.1% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 8.7% and 11.3% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 12.2% CAGR while Rest of European market (as defined in the study) will reach US$609 Million by the end of the analysis period. North America (including USA and Canada) retains a strong position in the global integrated workplace management systems market owing to high inclination of companies to embrace innovative technologies and rise in smart building projects that are favoring uptake of these systems for space management, asset and maintenance management, and real-estate and lease management. Growth in Asia-Pacific region is attributed to increasing penetration of IoT that is creating high demand for these systems to streamline operations. The regional market is bound to benefit from high uptake of cloud services, expansion of government/corporate networks and healthy growth of organizations.
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