The global integrated workplace management system market accounted for USD 2.1 billion in 2019. It estimated to register growth at a CAGR of 9.9% during the forecast period.
The COVID-19 has impacted the market for integrated workplace management system. For infrastructure and manufacturing companies the IWMS has become necessary requirement. However, due to lockdown the projects are halted and profitability is low for various organizations, this has made IWMS growth slower. Post COVID-19, the return of workforce has demanded IWMS solution and services with social distancing benefits and risk management capabilities for workforce safety. Moreover, the cloud-based IWMS solutions demand have been increased because of its low cost of ownership, scalability and anywhere access benefits. This is a must have requirement in the global pandemic.
For more details, visit: Global Integrated Workplace Management System Market By Services (Professional Services, Managed Services), By End User (Manufacturing, Real Estate & Construction, Others), By Region–Forecast & Opportunities to 2026
The complex on-premises deployments are less popular these days and the focus is shifting towards cloud-based (SaaS-based) deployment. The cloud-based implementation of IWMS enables resource-intensive projects, less costly and more granular. Small companies are widely adopting could-based deployment. Thus, drives growth in integrated workplace management system during the forecast period.
On the basis of services, the integrated workplace management system is segmented into professional services and managed services. The professional services are expected to register growth at highest CAGR during the forecast period. The professional services are further categorized into consulting, support & maintenance and system integration & deployment. The complexity in business operation is increasing and this has led to increase in IWMS solutions in professional services.
On the basis of end-user, the integrated workplace management system market is segmented into IT & telecom, public sector, manufacturing, BFSI, retail, education, healthcare, real estate & construction and others. The manufacturing vertical is expected to hold the largest market size during the forecast period. The manufacturing vertical has showcase rapid implementation of technology. The competition is rising worldwide and to compete in a market the manufacturing industries are adopting technological advancement. This is likely to drive growth in manufacturing vertical in IWMS during the forecast period.
North America region is expected to account for largest market size during forecast period. This region is always been technology hub with existence of many big organizations. This region is known for faster adoption of new innovations and technologies. The increase in development in smart building projects in this region has led to increase in the use of integrated workplace management systems for various purposes such as asset management, maintenance and space management. All these factors are contributing in growth of North America region in integrated workplace management system market during the forecast period.
The key market players in integrated workplace management system are Oracle, IBM, Accruent, Planon, Archibus, SAP, iOffice, Planon, Trimble, FSI, Causeway, Facilio, Service Works Global, MRI Software, zLink and SiERRA. All these companies are focusing on strengthening their market position via partnership, agreements and collaboration.
- What are the expected industry trends over the next three to five years?
- Which of the integrated workplace management system service is likely to lead by 2025?
- Which of the end-user segments is expected to have the maximum potential to during the forecast period?
- Which region is going to have the highest smart meters market share by 2025?
- What are different organic and inorganic strategies implemented by companies to gain increased market share?