Facilities Management Software Market Skyrocketing growth Expected to Grow at CAGR 8.1% by 2027 Owing to the Increasing Need For Reduced Operational Costs, says Absolute Markets Insights

Facilities management software market Prominent players include Accruent, FMClarity, ARCHIBUS, Inc., OfficeSpace Service Inc., Planon, amongst others.

Facilities management solutions help in achieving productivity, safety, comfort, convenience, and cost-effective operations through seamless integration of all real-time functionalities across enterprises. Facilities management software enables organizations in managing functions, such as repair & maintenance work management, space management by means of a web-based portal.

Economic pressure from regulatory requirements along with increased market competition are some of the factors contributing in the growth of facilities management software market. In addition, technological enhancements across these solutions by the global Facilities Management Software Market participants is another factor contributing in the growth of market. For instance, in 2019, Pointfuse, a software providing company launched Building Information Modeling (BIM) for facilities management to cater to the applications across construction and architectural sector. The BIM solution automates classification and identification of objects for facilities management applications that can use data from mobile mapping systems, such as Leica BLK2GO. Thus, such factors are responsible for the growing adoption of facilities management software across various end user industries.

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Facilities management software support enterprises in attaining economies of scale along with increased productivity. This further enables enterprises in managing a large-scale customer-base service and support. Another factor leading towards the growth of facilities management software market is owing to the frequent strategic alliances formed by key market participants with an aim to strengthen their regional as well as global footprints along with a streamlined focus on new product development. For instance, in 2017, CBRE ServiceInsight acquired Mainstream Software, Inc. (Mainstream), inorder to provide mobile and software-as-a-service (SaaS) technology solutions for facilities management operations. Similarly, in 2018, ARCHIBUS, Inc. partnered with Serraview, a global provider of space optimization solutions to offer a comprehensive suite of cloud-first, employee-centric space management software across real estate and infrastructure. However, unorganized service providers are delivering facility management services at lower costs, which is creating a negative impact on the companies offering premium services, which in turn is limiting the facilities management software market growth.

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The detailed research study provides qualitative and quantitative analysis of the global Facilities Management Software Market. The Facilities Management Software Market has been analyzed from demand as well as supply side. The demand side analysis covers market revenue across regions and further across all the major countries. The supply side analysis covers the major market players and their regional and global presence and strategies. The geographical analysis done emphasizes on each of the major countries across North America, Europe, Asia Pacific, Middle East & Africa and Latin America.

Key Findings of the Report:

 In terms of revenue, the global facilities management software market is expected to reach US$ 1401.46 Billion by 2027 owing to rising importance of integrated facility management to attain economies of scale combined with strategic mergers and acquisitions by industry players.

 Integrated softwares are widely preferred as all-in-one cost effective solution and also viewed as easy for implementation. With highly transforming application industries the demand for integrated software is anticipated to increase during forecast period.

 On the basis of component, services segment accounted for more than 53% of the Facilities Management Software Market share in 2018 and is expected to grow at a CAGR of 8.7% over the forecast period.

 Some of the prominent players operating in the global facilities management software market include Accruent, FMClarity, ARCHIBUS, Inc., OfficeSpace Service Inc., Planon, amongst others.

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Global Facilities Management Software Market
• By Type
o Integrated
o Standalone
• By Deployment Type
o Cloud-based
o On-Premise
• By Organization Size
o Small and Medium Enterprises
o Large Enterprises
• By Component
o Solution
 Integrated Workplace Management System
 Building Information Modeling
 Facility Operations and Security Management
 Lease Accounting and Real Estate Management
 Others
o Services
 Consulting
 Auditing and Quality Assessment
 Support and Maintenance
 Service Level Agreement Management
• By Vertical
o Healthcare
o Retail
o Manufacturing
o Construction and Real Estate
o Banking, Financial Services, and Insurance
o Government and Public Administration
o Education
o Others

• By Region
• North America
o U.S.
o Canada
o Mexico
o Rest of North America
• Europe
o France
o The UK
o Spain
o Germany
o Italy
o Nordic Countries
 Denmark
 Finland
 Iceland
 Sweden
 Norway
o Benelux Union
 Belgium
 The Netherlands
 Luxembourg
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o New Zealand
o Australia
o South Korea
o Southeast Asia
 Indonesia
 Thailand
 Malaysia
 Singapore
 Rest of Southeast Asia
o Rest of Asia Pacific
• Middle East & Africa
o Saudi Arabia
o UAE
o Egypt
o Kuwait
o South Africa
o Rest of Middle East & Africa
• Latin America
o Brazil
o Argentina
o Rest of Latin America

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This release was published on openPR.