Integrated Workplace Management System Industry Overview
The global integrated workplace management system market size is expected to reach USD 7.85 billion by 2027, according to a new study by Grand View Research, Inc. It is projected to register a CAGR of 12.8% from 2021 to 2027, Growing demand for solutions that help improve business performance, reduce working capital, reinforce company growth, improve customer service, and simplify workload is expected to drive the market. Additionally, enterprises across the globe are focusing on reducing operational costs and increasing the effectiveness of their decision-making processes which is anticipated to drive the demand for integrated workplace management systems (IWMSs) over the forecast period.
Organizations across the globe are also investing in big data analytics to obtain valuable business insights for decision-making purposes. Big data analytics can help in data integration, data segmentation, and business intelligence. The growing adoption of cloud computing and big data analytics is opening numerous growth opportunities for vendors in the IWMS market.
Integrated Workplace Management System Market Segmentation
Grand View Research has segmented the global integrated workplace management system market based on solution, service, deployment, enterprise size, end-use, and region:
Based on the Solution Insights, the market is segmented into Real Estate & Lease Management, Facilities & Space Management, Asset & Maintenance Management, Project Management, and Environment Management
- The facilities and space management segment dominated in 2020 and accounted for over 29% of the market. This can be attributed to the growing demand for upgrades and maintenance of existing solutions, which helps increase the efficiency of decision-making processes.
- Facilities and space management solutions allow businesses to track space utilization across all areas, resulting in savings across equipment maintenance and replacement costs by altering operational parameters such as lighting operational hours, set temperatures, and fresh-air intake.
Based on the Services Insights, the market is segmented into Professional Services and Managed Services.
- The professional services segment dominated the market in 2020 and accounted for a share of over 65%. This can be attributed to the rising complexities in business operations and the growing adoption of IWMS solutions.
- The growing demand for third-party support and maintenance services, owing to cost-effectiveness and experienced and well-trained technicians are anticipated to drive the growth of the professional services segment.
Based on the Deployment Insights, the market is segmented into Cloud and On-premise.
- The on-premise segment dominated the market in 2020 and accounted for a share of over 50%.
- The cloud segment is anticipated to register significant growth over the forecast period.
- The demand for cloud-based IWMS solutions has increased owing to its benefits such as minimum Total Cost of Ownership (TCO), scalability, and flexibility.
Based on the Enterprise Size Insights, the market is segmented into Large Enterprises and Small & Medium Enterprises.
- The large enterprises' segment dominated the market in 2020 with a share of over 60%. The segment is likely to expand at a promising pace over the forecast period as well.
- Opening of offices post the COVID-19 pandemic, organizations are likely to adopt transitional measures such as workplace distancing to ensure no further spread of the viral disease. This is expected to increase the demand for IWMS software to efficiently manage the floorspace and employee health.
Based on the End-use Insights, the market is segmented into Public Sector, IT & Telecom, Manufacturing, BFSI, Real Estate & Construction, Retail, Healthcare, and Others.
- The manufacturing segment dominated the market in 2020 and accounted for a share of over 20%.
- The real estate and construction segment is anticipated to register considerable growth over the forecast period.
- The rising demand for effectively managing all major aspects of a real estate project by minimizing operational costs is anticipated to propel the demand for IWMS solutions within the real estate and construction segment.
Integrated Workplace Management System Regional Outlook
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
Key Companies Profile & Market Share Insights
The market is highly fragmented owing to the presence of a large number of market players across the globe. Major vendors in the market are engaging in new product development, mergers and acquisitions, and partnerships to stay competitive in the market. Vendors are heavily investing in the development of new and improved versions of solutions, which may help them maintain their competitive position in the market.
Some of the prominent players in the Integrated Workplace Management System market include:
- Accruent
- ARCHIBUS, Inc.
- FM:Systems
- FSI (FM Solutions) Limited
- International Business Machines Corporation
- MRI Software LLC
- Nemetschek Group (Spacewell)
- Planon
- SAP SE
- Trimble Inc.
Order a free sample PDF of the Integrated Workplace Management System Market Intelligence Study, published by Grand View Research.
