Integrated Workplace Management System Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)


Posted May 19, 2021 by statzyreports

The Global Integrated Workplace Management System Market is expected to register a CAGR of 13.4% over the forecast period (2021 - 2026).

 
The need for streamlining operations as well as connecting people and processes is causing the market to grow.

- Demand for increased productivity and cost reduction as businesses become complex is driving the market growth. It also provides real-time visibility into managing the impact of changing workplace dynamics. Also, as energy cost is rising, enterprises are focusing more on reducing energy utilization. According to IBM, energy costs represent 23 % of the total occupancy costs of facilities, which would lead to exponential adoption of workplace management systems.

- Lack of expertise to maintain the deployed integrated workplace management system is a challenging factor which is restraining the market growth. Also, there are majority of SMEs which are yet to explore the advantages of integrated workplace management system. 
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Key Market Trends

Real Estate Management to Dominate the Market

- The major driver for adoption of real estate management software is growing awareness of connected buildings and the need to use technology in order to provide a better environment for the occupants.

- Further with increase in online marketplaces for renting and lodging such as Airbnb, HomeAway and Homestay, it is compelling the real estate sector to help to identify opportunities to improve the environmental condition and extend the life cycle of real estate and facility assets.

- It leads to ease for real estate executives to collaborate and work virtually, It also enables every department to attain transparency in every other process and take informed decisions.
- Siemens Real Estate deployed Planon’s Accelerator software which incorporates Computer Aided Facility Management (CAFM) for delivering efficient management of the entire real estate lifecycle.

- IBM's TRIRIGA solution delivers an integrated workplace management system that integrates functional models across real estate, capital projects, facilities and workplace operations within a single technology platform.

North America to Occupy Major Share

- Cloud-based offerings are forecasted to dominate the market in this region since Cisco forecasts that North America will maintain largest share of cloud workloads as well as highest traffic volume by 2020.

- North America's average GRESB Score (70) was higher than the global average (68) in 2018, indicating a better sustainability performance of real estate and infrastructure portfolios and assets. Thus real estate sector is forecasted to grow in future, highlighting the importance of real estate management software in this region.

- In August 2019, California State University replaced its legacy system for an integrated workplace management system to improve its maintenance management, space management, integrated services management and mobile capabilities.

- In March 2018, Brown Univerisy selected Planon to implement smart campus technology for their facilities management services, which was aimed to transform the campus experience for their students, faculty, staff and visitors.

- Molina Healthcare was facing challenges as their facilities expanded. After embracing an Integrated Workplace Management System software, disparate and manual processes were brought into one solution, which lead to cost-cutting and better accounting of services.

Competitive Landscape

The market is fragmented due to increasing demand for improved decision making and ensuring cost-effective operations.

- September 2019 - California State University, Long Beach (CSULB) has deployed Planon Universe, an integrated workplace management system (IWMS) to enhance its campus experience. It aims to improve its maintenance management, space management, integrated services management, and mobile capabilities.

- September 2019 - Archibus launched Archibus Cloud that aligns organizations with best practices in agile, people-centric workplaces, featuring a simplified interface and cloud-based delivery model that makes it easier to implement, update, scale, and realize rapid time-to-value.

- September 2019 - The UK Foreign and Commonwealth Office (FCO) selected MRI Software’s Horizon CRE solution as an Integrated Workplace Management System (IWMS) for properties and assets in 220 locations around the world.

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Issued By Statzy Market Research
Country India
Categories Technology
Tags integrated workplace management system market , integrated workplace management system market forecast , integrated workplace management system market share , integrated workplace management system market size
Last Updated May 19, 2021