The new report by Expert Market Research titled, ‘Global Integrated Workplace Management System Market Trends, Size, Share, Scope, Outlook, Report and Forecast 2023-2028’, gives in-depth analysis of the global integrated workplace management system market, assessing the market based on its segments like offerings, deployment type, end-use, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2018-2028):
- Historical Market Size (2022): USD 3.31 billion
- Forecast CAGR (2023-2028): 10.80%
- Forecast Market Size (2028): USD 6.35 billion
The demand for integrated workplace management system has risen as a result of the need for better operational solutions. Real estate management solutions would see an increase in the amount of investments made as a result of stringent environmental and energy management policies.
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The introduction of cloud-based deployments and the implementation of IoT are driving current investments in integrated workplace management system. Furthermore, the introduction of AI into integrated workplace management system is speeding up the automation process, but the integrated workplace management system market is hampered by a lack of knowledge about the value of workplace and facility management.
Integrated Workplace Management System Industry Definition and Major Segments
The integrated workplace management system is a software framework that assists organisations in optimising the use of workplace tools, such as real estate portfolio management, facilities asset management, and infrastructure management.
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The industry is divided based on offerings into:
- Operations and Services Management
- Real Estate Management
- Environmental and Energy Management
- Facility Management
- Project Management
- Professional Services
- Managed Services
Based on deployment type, the market is segmented into:
The market is divided based on its end-uses into:
- Public Sector
- IT and Telecom
- Banking, Financial Services, and Insurance
- Real Estate and Construction
- Education Vertical
On the basis of regional markets, the industry is divided into:
1 North America
1.1 United States of America
2.2 United Kingdom
3 Asia Pacific
4 Latin America
5 Middle East & Africa
5.1 Saudi Arabia
5.2 United Arab Emirates
5.4 South Africa
Integrated Workplace Management System Market Trends
The trend nowadays is to move away from complex on-premises deployment and toward cloud-based (SaaS-based) deployment. IWMS’s SaaS implementation allows for more granular, cost-effective, and resource-intensive projects. Small businesses choose cloud deployment because it allows them to spend a small percentage of their sales on data centre infrastructure, onsite installation, deployment, and training. Cloud systems provide a perfectly cost-effective and quickly deployable option, obviating the need for small businesses to create on-premises data centres.
Furthermore, cloud technology can provide a number of advantages to the integrated workplace management system industry, including real-time monitoring, integrated processes, reduced energy usage, safety and security, disaster recovery, and data centre consolidation.
For example, facility managers can now send notifications to workers in remote areas at any time, thanks to the use of mobile devices and cloud technology. For any technology, North America has always been a cutting-edge and competitive environment.
The area continues to be one of the most advanced in terms of technology adoption. Due to increased advances in smart building projects in the US, the United States (US) currently holds the largest share of the integrated workplace management system market. As a result, IWMS tools are also being used for room management, asset and maintenance management, as well as real estate and lease management.
Key Market Players
The major players in the market are Archibus, Causeway Technologies, SAP, Service Works Global, FSI, Facilio, MRI Software, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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