Market Research Report
Integrated Workplace Management System (IWMS) - Global Market Outlook (2019 -2027)
|Integrated Workplace Management System (IWMS) - Global Market Outlook (2019 -2027)|
Published: November 1, 2020
Stratistics Market Research Consulting
Content info: 150+ Pages
Delivery time: 2-3 business days
According to Stratistics MRC, the Global Integrated Workplace Management System (IWMS) Market is accounted for $2.15 billion in 2019 and is expected to reach $5.93 billion by 2027 growing at a CAGR of 13.5% during the forecast period. Growing cloud-based application deployments, increasing competitiveness and workforce dynamics, and growing importance of corporate social responsibilities across the globe are the major factors propelling the market growth. However, unexplored benefits of facility and workplace management are hampering the market growth.
The integrated workplace management system is a platform for software. It has different functional areas such as facilities management (operations, optimal utilization of facilities), sustainability and energy management, real estate management (acquisition, financial management, disposition of tangible property assets), maintenance management and capital project management (remodeling of facilities, development, design). Also, the integration of AI in an integrated workplace management system is generating higher demand for the automation process. It is beneficial for companies in efficiently utilizing the resources at the workplace.
Based on the end user, the manufacturing segment is going to have a lucrative growth during the forecast period due to the rapid technology implementation across the manufacturing vertical. Furthermore, the degree of competitiveness among organizations has increased drastically. As a result, organizations are keen to implement efficient workplace solutions in their manufacturing facilities.
By geography, North America is going to have a lucrative growth during the forecast period due to the new advancements and establishments of real estate and infrastructure sector. The region remains one of the fastest in the adoption of innovative technologies. Currently, the United States (US) holds the highest share in the integrated workplace management system market, due to increasing developments in smart building projects in the US. This has led to the use of IWMS solutions for space management, asset and maintenance management, and real estate and lease management. Most of the leading market players, such as IBM, Oracle, Trimble, Accruent, and Archibus, have their headquarters in this region.
Some of the key players profiled in the Integrated Workplace Management System (IWMS) Market include: Accruent, Archibus, AssetWorks, Causeway, Facilio, FSI (FM Solutions), IBM, MRI Software, Nuvolo, Oracle, Planon, Rapal, SAP, Service Works Global, Smartsheet, Spacewell, Tango, Trimble, VLogic Systems, and zLink.
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