According to the latest report by IMARC Group, titled “Integrated Workplace Management System Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," the global integrated workplace management system market is expected to grow at a CAGR of 14.1% during 2023-2028. An integrated workplace management system (IWMS) refers to a software solution that facilitates the management of workplace resources. It provides a data-driven centralized platform that aids organizations in automating routine tasks and optimizing operations. IWMS is widely used to manage lease agreements, portfolios, occupancies, vendor contracts, space allocation, inventories, and assets. It provides a comprehensive management solution that enhances workplace productivity, reduces maintenance costs, optimizes asset utilization, improves the employee experience, and increases overall efficiency. IWMS also provides access to real-time data and insights that help in decision-making, reducing energy consumption, minimizing waste generation, and ensuring compliance with regulations and standards.
Global Integrated Workplace Management System Market Trends:
The rising trend of automation in facility management (FM) processes is one of the key factors driving the market growth. IWMS is widely used by organizations to optimize resource utilization, track assets, and automate various routine processes, such as documentation, maintenance, space allocations, energy usage, and work orders. Furthermore, the increasing consumer awareness regarding various benefits of IWMS, such as providing real-time tracking capabilities, minimizing energy consumption, reducing operating costs, lowering environmental footprints, and promoting sustainability, is positively influencing the market growth. Additionally, the adoption of cloud-based IWMS solutions that are cost-effective and offer greater flexibility, faster deployment, easy upgrades, and enhanced security is providing an impetus to the market growth. Apart from this, the integration of the Internet of Things (IoT) sensors to capture real-time data associated with building occupancy, energy utilization, and equipment performance to improve operational efficiency is favoring the market growth. Moreover, the increasing adoption of IWMS to provide a centralized platform, manage permits and certifications, identify potential violations, and streamline the audit process, due to the growing regulatory compliances is creating a positive outlook for the market. Other factors, including the rising development of smart and green buildings, increasing investments in the research and development (R&D) of advanced IWMS solutions, and the growing emphasis on better space utilization, are anticipated to drive the market growth.
- On the basis of the component, the market has been divided into solution (real estate and lease management, facilities and space management, asset and maintenance management, project management, and others) and services (professional and managed services).
- Based on the deployment, the market has been bifurcated into on-premises and cloud-based.
- On the basis of enterprise size, the market has been classified into large and small, and medium enterprises.
- Based on the end use industry, the market has been divided into public sector, IT and telecom, manufacturing, BFSI, real estate and construction, retail, healthcare, and others.
- On a regional basis, the market has been categorized into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the industry has also been examined, with some of the key players being Accruent (Fortive Corporation), ARCHIBUS Inc, FM:Systems, FSI (FM Solutions) Limited, International Business Machines Corporation, iOFFICE, MRI Software LLC, Nuvolo, Oracle Corporation, SAP SE and Trimble Inc.
|Base Year of the Analysis
||Component, Deployment, Enterprise Size, End Use Industry, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||Accruent (Fortive Corporation), ARCHIBUS Inc, FM:Systems, FSI (FM Solutions) Limited, International Business Machines Corporation, iOFFICE, MRI Software LLC, Nuvolo, Oracle Corporation, SAP SE and Trimble Inc.
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