Integrated Workplace Management Market Size, Competitive Landscape and Market Forecast - 2029

SKU: DMICT4480 | Last Updated On: Apr 28 2022 | Available Formats

> Global Integrated Workplace Management Market Expected to reach a high CAGR of 12.5% By 2029: DataM Intelligence

Global Integrated Workplace Management Market is segmented By Solution(Real Estate & Lease Management, Asset & Maintenance Management, Facilities & Space Management, Project Management, Environment Management), By Services(Professional Services, Managed Services), By Deployment(Cloud, On-premise), By Organization Size(Large Enterprises, Small & Medium Enterprises), By End-User(Public Sector, IT & Telecom, Manufacturing, BFSI, Retail, Healthcare, Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis,  2022-2029

 

Market Overview

The Global "Integrated Workplace Management Market" is estimated to reach at a high CAGR of 12.5% within the forecast period (2022-2029).

An integrated workplace management system is a software platform that aids businesses in optimizing the use of workplace resources, such as real estate portfolio management, infrastructure management and facilities asset management. Furthermore, the IWMS software platform allows executives and managers to minimize expenditures while increasing business productivity considerably.

As a result, numerous organizations implement integrated workplace management systems (IWMS) in their facilities management processes to improve efficiency, flexibility, customer satisfaction and transparency. In addition, the integrated workplace management system (IWMS) offers convenient features for real estate portfolio management, capital projects, workplace services, financial management, leases, facility and space utilization and energy and sustainability.

Source: DataM Intelligence Analysis (2021)

Market Dynamics

Growing advancements in technology and emerging technologies' adoption drive the market share for integrated workplace management systems. Various advantages offered by IWMS to improve the organization's business productivity are another factor adding value to the growing market of IWMS in recent times.

Growing advancements in technology and emerging technologies' adoption drive the market share for integrated workplace management systems.

The market is currently gaining traction around IoT, advanced analytics, cutting-edge new sensors, mobility, SaaS and new development environments. Resulting in a higher demand for enterprise integration than ever before, affecting integrated workplace management systems (IWMS) deployment across organizations. The IWMS platform can interact via social media, impacting project collaboration and space utilization.

IWMS can support machine and device data via sensors, meters, smartphones and other sources, allowing for the automation of operations, decisions and facilities. Thus the growing adoption of advanced technologies is gaining momentum across the globe, driving the demand for enterprise integration. As a result, the use of IWMS is becoming more widespread throughout businesses.

Transparency & visibility into facilities and business operations and related data are lacking globally. By establishing a structured and standard data repository for all organizational processes, an IWMS provides enterprises with transparency across all key areas. As businesses become more aware of the numerous advantages of IWMS, demand is expected to increase throughout the forecast period.

Various advantages offered by IWMS to improve the organization's business productivity are another factor adding value to the growing market of IWMS in recent times.

Managers and supervisors are confronted with various obstacles in today's workplace. These include everything from improving productivity to managing a more diverse staff. Organizations must also keep track of maintenance, projects, location and resource utilization across several sites.

Attempting to achieve all of this with spreadsheets and traditional paper-based record-keeping systems will almost always result in inefficiency. As a result, an increasing number of businesses are turning to integrated workplace management systems (IWMS).

IWMS gives businesses the tools they need to improve their operations and profits while adhering to all current legal requirements. A sophisticated IWMS software like Archibus integrates data, roles and goals to help to optimize daily performance, forecast needs, and keep the employees safe.

Furthermore, with IWMS software, the customer can visualize the office space data with real-time information. It helps keep track of office spaces that aren't being used, who sits where and which departments require extra space. In this manner, the customer can use under-utilized amenities and spaces, ensuring efficient use of office space.

In addition, facility management, asset management and space management faults can all be reduced using IWMS systems. The employees will always have access to the most up-to-date information. As a result, all operations and facility management specialists will examine any decision about the facility's space and asset management graphically. Thus, the mentioned advantages add value to the growing market of IWMS in the corporate sector.

Unavailability of expertise in the integrated workplace management system

The lack of essential skill sets and expertise is a big barrier when implementing IWMS. Because large IWMS projects involve several sites in different countries, implementation issues arise owing to a lack of knowledge. IWMS projects are now in charge of accounting for and resolving challenges related to numerous cultures, languages, special legislation and local business norms.

One of the most significant impediments to the development of workplace management as a profession is the negative perception of facility management. Another growth constraint in this industry is a lack of understanding regarding IWMS solutions.

COVID-19 Impact Analysis

The COVID-19 pandemic has presented challenges and changed lives, affecting health, economy and social interactions and altering various sectors globally. IWMS has seen a negative impact due to COVID-19 as the IWMS vendors face challenges in the wake of the COVID-19 pandemic. Furthermore, organizations in various industries have been forced to temporarily halt new automation initiatives due to the outbreak. However, from 2021 onwards, this investment is likely to increase.

Furthermore, industry participants are predicted to see a considerable drop in revenues in 2020, putting extra pressure on them to cut costs. The market is expected to profit from a surge in demand for advanced IWMS systems with social distancing benefits and risk management capabilities, which are best suited to new legislation and guidelines governing labor safety due to the post-pandemic.

Segment Analysis

The global integrated workplace management market is segmented based on solution, service, deployment, organization size, end-users and region.

Rising demand for updates and maintenance of existing systems uplifts the market share for facility and space management solutions.

The globally integrated workplace management market based on solution is segmented into real estate & lease management, asset & maintenance management, facilities & space management, project management, environment management. Out of the mentioned segments, in 2020, the facilities and space management category dominated the market. The rising demand for updates and maintenance of existing systems can be due to the rising demand for updates and maintenance, which helps decision-making processes become more efficient.

Furthermore, facility and space management solutions aid in the proper alignment of administrative and infrastructural support tasks to achieve a company's primary goal. Work-from-home practices replaced desk occupations in massive numbers during the COVID-19 pandemic. Regardless of any pandemic or similar circumstance, it is expected that more work-from-home practices will be adopted during the forecast period.

Meeting room bookings and hot-desking functionality are required to be more streamlined and automated in a work-from-home scenario. As a result, the demand for facilities and space management solutions for scheduling conference spaces is expected to rise during the forecast period.

Source: DataM Intelligence Analysis (2021)

Geographical Analysis

The presence of various key players and growing investments in adopting methods to improve efficiency and save operating expenses are boosting the market share for IWMS solutions in the North American region

North America held a dominating position for the integrated workplace management system (IWMS) market in 2020 compared to the rest of regions. The region's significant growth is due to the presence of major vendors such as FM: Systems, Global Business Machines Corporation, Accruent and MRI Software LLC in the region.

Furthermore, the demand for IWMS solutions for asset and maintenance management, space management and real estate and lease management is expected to increase as the number of smart building projects in the region grows.

Furthermore, many companies in North America are continuously looking for methods to improve efficiency and save operating expenses. Over the projected period, this is expected to drive the market in the North American region. The market in North America is expected to grow due to the rising number of small and medium businesses in the region and the increased adoption of cost-effective cloud-based workplace management solutions.

Source: DataM Intelligence Analysis (2021)

Competitive Landscape

The integrated workplace management market is highly competitive with the presence of local and global companies. Some prime companies contributing to the market's growth include Accruent, ARCHIBUS, Inc., Nemetschek Group (Spacewell), FM: Systems, FSI (FM Solutions) Limited, MRI Software LLC, Planon, SAP SE, Trimble Inc., Global Business Machines Corporation and among others.

The major companies are adopting several growth strategies such as acquisitions, product launches and collaborations, contributing to the growth of the integrated workplace management market globally.

  • For instance, in June 2020, SAP and Honeywell have collaborated to create a cloud-based system that combines SAP Cloud for Real Estate with Honeywell Forge, an enterprise performance management solution. The solution aims to improve tenant experience by assisting real estate organizations in optimizing building performance and ensuring building occupant safety following the implementation of COVID-19.

Global Business Machines Corporation

Overview: Global Business Machines Corporation supplies its products and solutions in 9 categories: AI, BlockChain, Cloud Computing, Data Analytics, IT Infrastructure, Security, supply chain, Business Operation and supply chain. The company provides its services in 19 sectors, including automotive, aerospace, education, electronics, and other industries.

The company operates in more than 175 countries, expanded in the Americas, Africa, Asia Pacific, Europe and Middle East regions. The company offers more than 170 cloud products under 18 categories. In 2019, more than 5,000 applications were created by 180,000 developers from 165 countries based on disaster relief.

Product Portfolio: The Company has a product portfolio of integrated workplace management that includes:

  • Watson Works helps employers make smart return-to-office plans and reimagine a new flexible workplace. Watson Works uses data, AI and blockchain technology to deliver insights that help with safe workplace re-entry and facility management, worker and workplace safety and contact tracing and care management.

Key Development

  • In June 2020, IBM unveiled Watson Works, a curated set of products that uses IBM Watson AI models and applications to solve post-COVID-19 organization needs such as employee wellness, facilities management, workplace re-entry, space allocation, contract tracking and communication and collaboration.

Why Purchase the Report?

  • Visualize the integrated workplace management market segmentation by solution, service, deployment, organization size, end-users, highlighting key commercial assets and players.
  • Identify commercial opportunities in the integrated workplace management market by analyzing trends and co-development deals.
  • Excel data sheet with thousands of integrated workplace management market-level 4/5 segmentation points.
  • PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
  • Product mapping in excel for the key product of all major market players

The globally integrated workplace management market report would provide approximately 77 market data tables, 76 figures, and 180 pages.

Target Audience 2022

  • Service Providers/ Buyers
  • IT and Telecom Companies
  • Emerging Companies
  • Manufacturers
  • Logistics companies
  • Distributors

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