Integrated Workplace Management System Market Outlook
According to a new report by Expert Market Research titled, “Integrated Workplace Management System Market Share, Size, Analysis, Report and Forecast 2024-2032″, the global integrated workplace management system market reached a value of USD 3.31 billion in 2023. Aided by the increasing demand for efficient and integrated facility and real estate management solutions, the market is projected to further grow at a CAGR of 10.80% between 2024 and 2032 to reach a value of USD 6.35 billion by 2032.
IWMS is a software platform that integrates five key components of functionality, namely: real estate management, facilities and space management, maintenance management, sustainability and energy management, and project management. It allows organisations to optimise the use of workplace resources, including the management of the company’s real estate portfolio, infrastructure, and facilities assets.
With the rising costs of real estate and facilities management, organisations are progressively seeking ways to optimise their operations and reduce expenses. The IWMS solutions are gaining traction among various industries for their capacity to integrate multiple functions into a single platform, enabling organisations to achieve significant operational efficiency and cost savings.
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The advent of technologies like IoT, AI, and machine learning has played a crucial role in positively impacting the integrated workplace management system market outlook. These technologies have enabled real-time monitoring and analysis of facilities and infrastructure, making it easier for managers to make data-driven decisions.
As the concept of smart buildings and smart cities gains traction, the need for integrated systems that can manage and optimise a multitude of operations and services within these infrastructures is escalating. IWMS is pivotal in such settings, as it seamlessly integrates various functions, including energy management, space utilisation, and preventive maintenance.
The real estate sector has been generating a healthy integrated workplace management system market demand. In the increasingly competitive real estate market, managing properties efficiently is critical. IWMS solutions enable real estate professionals to optimise space usage, manage leases more effectively, and ensure that facilities are maintained optimally. Meanwhile, the healthcare facilities, where operational efficiency directly correlates with patient care, IWMS solutions are proving invaluable. They help in managing complex facilities and compliance requirements, ensuring a safe and efficient environment for patients and staff alike.
The North American region, being a pioneer in technology adoption, holds a significant portion of the integrated workplace management system market share, with Europe following closely. The Asia-Pacific region is poised to be a rapidly growing market, owing to its booming real estate and industrial sectors and increasing awareness of efficient facility management solutions.
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Integrated Workplace Management System Market Segmentation
The market can be divided based on offering, deployment type, end use, and region.
Market Breakup by Offering
- Solution
- Operations and Services Management
- Real Estate Management
- Environmental and Energy Management
- Facility Management
- Project Management
- Services
- Professional Services
- Managed Services
Market Breakup by Deployment Type
- On-Premises
- Cloud
Market Breakup by End Use
- Public Sector
- IT and Telecom
- Manufacturing
- Banking, Financial Services, and Insurance
- Real Estate and Construction
- Retail
- Healthcare
- Education
- Education Vertical
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global integrated workplace management system market. Some of the major players explored in the report by Expert Market Research are as follows:
- Oracle
- Trimble
- SAP SE
- Service Works Global
- MRI Software, LLC
- Facilio, Inc.
- Causeway Technologies Ltd.
- Archibus, Inc.
- Others
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