The global integrated workplace management system market is predicted to reach USD 4.16 billion in 2024 and USD 7.50 billion by 2029, growing at a CAGR of 12.5% during the forecast period.
The global IWMS market is driven by the demand for efficient and improved operational solutions, accelerating the sophistication of solutions and services. Integrated Workplace Management System (IWMS) is a software platform used by IT, facilities management, and real estate professionals to manage the end-to-end lifecycle of corporate facilities. It helps optimize the use of workplace resources to enhance the employee experience. It also monitors the real estate portfolio to help reduce costs.
Rather, the integration of new technologies such as IoT, AI, and machine learning into integrated workplace management systems and the increase in the number of smart and sustainable buildings are expected to provide profitable growth opportunities for the global market. The business is driven by strengthening the competitiveness and dynamics of the workforce. As multinational companies work on a global scale, they need a more coherent and holistic view of their global portfolio of facilities. Multinational corporations play a key role in implementing Integrated Workplace Management System solutions to destroy existing construction, facilities management silos, and real estate and generate significant interest. The changing workforce is tech-savvy and uses new technologies efficiently to enhance market growth further. Unexplored benefits from workplace and facility management are expected to drive market growth in the forecast period. As government regulations on energy and waste management and carbon footprint increase, organizations must improve and sustain business activities to reduce and control hazardous gas emissions. Governments around the world are using laws to encourage companies to reduce their carbon footprint. The integrated workplace management system calculates the emissions generated by the company and develops solutions to improve the environment and the company's long-term sustainability.
Increasing business activities and environmental impact are supposed to drive organizations to adopt integrated workflow management systems at scale. This is expected to accelerate the growth of the Integrated Workplace Management Systems (IWMS) market globally during the forecast period. Organizations are increasingly moving away from traditional approaches to digital solutions for activities such as rental management, space and facilities management, asset and maintenance management, and project management. Along with this, the growing demand for efficient and improved operational solutions is expected to increase the sophistication of solutions and services, increasing the demand for Integrated Workplace Management Systems (IWMS). Besides, the benefits provided by these systems, such as real-time monitoring, integrated processes, disaster recovery, reduced power consumption, security, and data center consolidation, are expected to drive the market during the conjecture period. As the business becomes more complex, the demand for higher productivity and lower costs drives market growth. The main drivers for adopting real estate management software are an increased awareness of connected buildings and the need to use technology to provide a better experience for residents.
The lack of awareness of the workplace's importance, coupled with the high cost of implementation, is a market constraint for integrated workplace management systems (IWMS). Additionally, myths such as high implementation costs and extensive training requirements are also limiting the market's growth.
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REPORT METRIC |
DETAILS |
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Market Size Available |
2023 to 2029 |
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Base Year |
2023 |
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Forecast Period |
2024 to 2029 |
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CAGR |
12.5% |
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Segments Covered |
By Component, Industry Vertical, and Region. |
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Various Analyses Covered |
Global, Regional, & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
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Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
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Market Leaders Profiled |
Oracle, IBM, Trimble, Accruent, Planon Corporation, SAP SE, Archibus, Inc., Spacewell International, iOFFICE, Inc., Nuvolo, and Others. |
The solutions segment accounted for the majority of the market share of integrated workplace management systems in 2020 due to factors such as the need for smart maintenance and asset management, increased interest in improving employee productivity, the need to reduce IT costs, and adoption.
The manufacturing segment held the largest integrated workplace management systems market share in 2020. Operations and maintenance management (O&M) and other projects on the same platform, increased knowledge of energy consumption, increased productivity, and many other benefits to ensure compliance with facility governance and regulatory requirements.
North America is foreseen to dominate the global Integrated Workplace Management Systems (IWMS) market during the forecast period. The US is expected to have a significant share of the North American market and is likely to expand at a CAGR of 14.5% due to the higher adoption rate of cloud-based technologies. Asia Pacific occupied a significant share of the global Integrated Workplace Management Systems (IWMS) market in 2018, and China, India, and Japan are supposed to expand at the highest rate during the forecast period, which is the major market in the region. The European and South American market for Integrated Workplace Management Systems (IWMS) is also estimated to expand modestly during the projection period.
Key players in the global market for integrated workplace management systems include Oracle, IBM, Trimble, Accruent, Planon Corporation, SAP SE, Archibus, Inc., Spacewell International, iOFFICE, Inc., and Nuvolo.
In June 2020, IBM announced a suite of select products that integrate IBM Watson AI models and applications to address post-COVID-19 workplace requirements such as prioritizing employee health, facilities management, reentry to the workplace, space allocation, and contracts that Watson Works has released. Monitoring, communication, and collaboration.
In June 2020, SAP and Honeywell partnered to launch a cloud-based solution that combines SAP Cloud for Real Estate solutions with Honeywell Forge, a business performance management product.
In May 2020, Trimble introduced ManhattanONE, a comprehensive software package that centralizes portfolio, building, workplace, and leasing information to enable the monitoring of key real estate data and facilitate decision-making based on evidence.
By Component
By Industry Vertical
By Region
Frequently Asked Questions
Technological advancements such as IoT, AI, machine learning, and cloud computing are revolutionizing IWMS solutions, enabling more efficient management of real estate portfolios, facilities, and workplace resources.
The IWMS market caters to a wide range of industries including commercial real estate, healthcare, manufacturing, retail, government, and education, with each sector adopting IWMS solutions to streamline operations and enhance productivity.
Challenges such as initial investment costs, integration complexities with existing systems, data security concerns, and resistance to change are hindering the adoption of IWMS solutions, particularly in emerging economies.
Sustainability has emerged as a key driver for IWMS adoption, as organizations seek to reduce carbon footprints, optimize energy usage, and comply with green building certifications, thereby enhancing their corporate social responsibility initiatives.
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