The global Integrated Workplace Management System market size is expected to be worth around US$ 7.89 billion by 2028, according to a new report by Vision Research Reports.
The global Integrated Workplace Management System market size was valued at US$ 3.46 billion in 2020 and is anticipated to grow at a CAGR of 12.10% during forecast period 2021 to 2028.
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.
Emerging technologies such as the (IoT) are likely to provide significant growth opportunities to the market. The adoption of IoT can significantly simplify business operations, as data can be automatically collected and can later be analyzed for maintenance purposes. The adoption of IoT within enterprises can also significantly minimize the pressure on workplace management tools and help organizations make better decisions. IWMS software is also used for tracking utility usage and expenditures as part of efforts to lower operating costs. Additionally, the improved flexibility of several IWMS solutions and their capability to adapt to the changing and growing needs of businesses are anticipated to drive market growth over the forecast period.
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. Moreover, facility and space management solutions help in the proper alignment of administrative and infrastructural support functions to fulfill the core objective of businesses. Based on solution, the market is segmented into real estate and lease management, facilities and space management, asset and maintenance management, project management, and environment management.
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. IWMS vendors offer industry-oriented professional services, including consulting, software implementations, and training. Based on service, the market is segmented into professional services and managed services.
Vendors also offer training programs to client employees to help improve effectiveness and efficiency in handling IWMS solutions. For instance, Accruent, a provider of intelligent and cloud-based solutions, offers progressive training programs through its professional services, which allow clients to improve the effectiveness of their employees. Furthermore, with every implementation, the company offers product and process training, including key application usage and function guidelines for each solution with industry and business needs. Moreover, 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.
The on-premise segment dominated the market in 2020 and accounted for a share of over 50%. On-premise is a secured form of deployment model, which increases its demand in the market. Furthermore, on-premise IWMS solutions are mostly adopted by large enterprises with established physical servers, sufficient budgets, and expert technicians. Based on deployment, the market is segmented into on-premise and cloud.
Moreover, on-premise deployment allows client organizations to scale functionalities and manage and upgrade the solutions with ease. Furthermore, organizations across end-use industries such as BFSI and healthcare prefer the on-premises deployment of IWMS solutions as security is a critical concern in these industries. 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.
The large enterprises' segment dominated the market in 2020 with a share of over 60%. Large enterprises implement IWMS solutions to simplify their complex work environments. Such enterprises demand robust monitoring solutions and automation capabilities for tasks such as resource allocation and strategic decision-making. The segment is likely to expand at a promising pace over the forecast period as well. Based on enterprise size, the market is segmented into large enterprises and small and medium enterprises.
The manufacturing segment dominated the market in 2020 and accounted for a share of over 20%. Rapid technology implementation across the manufacturing vertical has significantly increased the degree of competitiveness among organizations. Thus, organizations are keen to adopt efficient workplace solutions in their manufacturing facilities. This is anticipated to drive the demand for IWMS solutions over the forecast period. Based on end use, the IWMS market is segmented into the public sector, IT and telecom, manufacturing, BFSI, real estate and construction, retail, healthcare, and others.
The 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. Furthermore, vendors in the market are capitalizing on this opportunity and introducing IWMS solutions tailored to the specific needs of companies operating in the real estate and construction vertical. For instance, in May 2020, Trimble Inc. introduced ManhattanONE, a software suite for centralizing portfolio, workplace, building, and finance lease information, which enables data monitoring of real-estate data and facilitates the evidence-based decision-making process. The suite also aims to address the back-to-work challenges posed by the COVID-19 pandemic.
North America dominated the integrated workplace management system (IWMS) market in 2020 with a share of over 30%. This can be attributed to the presence of major vendors such as International Business Machines Corporation; Accruent; FM:Systems; and MRI Software LLC in the region. The rising number of smart building projects in the region is anticipated to drive the demand for IWMS solutions for asset and maintenance management, space management, and real estate and lease management.
FSI (FM Solutions) Limited
International Business Machines Corporation
MRI Software LLC
Nemetschek Group (Spacewell)
Real Estate & Lease Management
Facilities & Space Management
Asset & Maintenance Management
Enterprise Size Outlook
Small & Medium Enterprises
IT & Telecom
Real Estate & Construction
Middle East & Africa (MEA)
The Integrated Workplace Management System market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Integrated Workplace Management System market for the base year 2020 and the forecast between 2021 and 2028. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Integrated Workplace Management System market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Integrated Workplace Management System market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Integrated Workplace Management System market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Integrated Workplace Management System capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Integrated Workplace Management System by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Integrated Workplace Management System market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2028. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Integrated Workplace Management System market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Integrated Workplace Management System market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Integrated Workplace Management System industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
The Integrated Workplace Management System market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Integrated Workplace Management System market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Integrated Workplace Management System market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Integrated Workplace Management System market. These factors have benefited the growth of the global market for Integrated Workplace Management System. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Integrated Workplace Management System. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Integrated Workplace Management System are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
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