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Global Workspace Management Software Market Size, Share, Trends, COVID-19 Impact & Growth Forecast Report - Segmented By Type (Cloud based and On-Premises), Application (Real estate management, Capital Project Management, Facilities management, Maintenance Management and Others) and Region (North America, Europe, Asia-Pacific, Latin America, Middle East & Africa) - Industry Analysis (2024 to 2029)

Published: March, 2023
ID: 8712
Pages: 175
Formats: report pdf report excel report power bi report ppt

Global Workspace Management Software Market Size (2024 to 2029)

The size of the global workspace management software market is expected to reach USD 1733 Mn by 2029 from USD 713 Mn in 2024, growing at a CAGR of 19.44% from 2024 to 2029.

Workspace management software is very helpful for new companies as it deals with the infrastructure and facilities assets. The planning and maintenance are done peculiarly with this software. This is more appropriate in analyzing real property assets like purchase and lease activities. Also, this management process will include designing new facilities or remodeling the existing ones with proper usage of resources at the expected cost. Going with a strategic plan, any organization can certainly move with profits and this point can be satisfied with the workspace management software.

Global Workspace Management Software Market Drivers:

The growing number of new entry-level players and their demand to have optimization in the utilization of the resources, the rising prevalence of proper space planning and the rise in the capital income in both developed and developing countries are propelling the growth of the workspace management software market.  The emergence of advanced technologies and the launch of various innovative features, shifting trends towards convenient and flexible workspace in the organization and replacement of traditional methods with modern applications are further contributing to the growth of the global market.

Global Workspace Management Software Market Restraints:

The high costs associated with the installation and maintenance of these systems and the lack of standardization are hampering the growth of the global market.

REPORT COVERAGE:

REPORT METRIC

DETAILS

Market Size Available

2023 to 2029

Base Year

2023

Forecast Period

2024 to 2029

CAGR

19.44%

Segments Covered

By Deployment, Function and Region

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview of Investment Opportunities

Regions Covered

North America, Europe, APAC, Latin America, Middle East & Africa

Market Leaders Profiled

Asure Software, Condeco Group, IBM, Planon and Yardi Systems

 

This research report on the global workspace management software market has been segmented and sub-segmented based on the deployment, function and region.

Global Workspace Management Software Market - By Deployment:

  • Cloud-Based
  • On-Premises

Based on deployment, the cloud-based segment dominated the market in 2023 and is expected to continue the domination throughout the forecast period owing to the rising awareness towards usage of cloud-based platforms and increasing adoption of workspace management software in several industries.

Global Workspace Management Software Market - By Functions: 

  • Real Estate Management
  • Capital Project Management
  • Facilities Management
  • Maintenance Management
  • Others

Based on functions, the real estate management segment is anticipated to account for the major share of the global market during the forecast period whereas the facilities management segment is expected to register the fastest CAGR during the forecast period.

Global Workspace Management Software Market - By Region: 

  • Asia Pacific
  • North America
  • Europe
  • Latin America
  • Middle East and Africa

The North American region played a dominating role in the global market in 2023 and is expected to continue the same in the foreseen years. Rise in the scale of end-user industries and growing investments in the IT sector to develop new systems across the North American region are propelling the regional market growth.

The Asia Pacific region had the second largest share of the global market in 2023 and is predicted to witness a healthy CAGR during the forecast period owing to the increasing scale of the end-user industries and the rise in support from the public and private organizations.

The European workspace management software market is projected to hold a substantial share of the global market during the forecast period owing to the introduction of various applications with the latest technological developments.

The Middle East and Africa regional segment is inclined to have huge growth opportunities in the near future with the rise in the awareness of the management processes.

KEY MARKET PLAYERS:

Companies such as Asure Software, Condeco Group, IBM, Planon and Yardi Systems are currently dominating the workspace management software market.

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FAQ's

What is the current size of the global workspace management software market?

The global workspace management software market is anticipated to be valued at USD 713 Mn in 2024.

Which regions contribute significantly to the global workspace management software market share?

North America, particularly the United States, and Europe are major contributors to the global workspace management software market share, driven by the adoption of advanced technologies in business operations.

What key trends are shaping the growth of the workspace management software market in Europe?

In Europe, key trends in the workspace management software market include a focus on sustainable and energy-efficient workspaces, the integration of IoT devices, and an emphasis on data security and compliance.

How has the COVID-19 pandemic impacted the adoption of workspace management software globally?

The COVID-19 pandemic has accelerated the adoption of workspace management software globally, with businesses seeking solutions to facilitate remote work, implement social distancing measures, and ensure workplace safety.

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