Integrated Workplace Management System (IWMS) Market: Global Opportunity Analysis and Industry Forecast, 2020–2027 | Key players - IBM, Oracle, Accruent, Trimble, SAP SE, Planon Corporation, iOFFICE, Inc., Spacewell International, Archibus, Inc., and Nu

The continuous adoption of digital workplace solutions and automation of facility management processes are expected to drive market growth. Organizations are increasingly shunning conventional approaches and switching to digital solutions for activities such as lease management, facilities and space management, asset and maintenance management, and project management. The rising demand for efficient and improved operational solutions, which is leading to the increased sophistication of solutions and services, is anticipated to drive the demand for integrated workplace management systems (IWMSs).

Post COVID-19 companies are looking to adopt strategies for making their workplace environment secure for their employees and increase their productivity in an efficient and risk-free manner. This is anticipated to offer great opportunity for IWMS market. In addition, rise in focus of government to promote energy efficient & sustainable corporate infrastructure and growth in smart building projects are further driving the growth of this market.

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Increase in adoption of workflow automation solutions by real estate organizations and focus on energy management by governments drive the growth of the global integrated workplace management system market.

The global integrated workplace management system industry garnered $2.34 billion in 2019, and is expected to reach $5.78 billion by 2027, registering a CAGR of 12.9% from 2020 to 2027.

The global integrated workplace management system market analysis includes some of the key market players such as IBM, Oracle, Accruent, Trimble, SAP SE, Planon Corporation, iOFFICE, Inc., Spacewell International, Archibus, Inc., and Nuvolo.

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Based on region, North America contributed to the largest market share with nearly two-fifths of the global integrated workplace management system market in 2019, and is expected to maintain its dominant position by 2027. This is attributed to rise in adoption of smart buildings along with increase in need for automated & centralized control for accounting, workplace maintenance, and leasing management. However, Asia-Pacific is expected to witness the fastest CAGR of 15.7% from 2020 to 2027. This is due to supportive government initiatives for digital technologies and energy-efficient infrastructure and regulations to offer a sustainable corporate environment.

Based on deployment, the on-premise segment contributed to the highest share in 2019, accounting for nearly three-fifths of the global integrated workplace management system market, and is estimated to maintain its dominant share throughout the forecast period. This is due to preference of organizations to deploy solution in their own environment to gain optimal application performance and security of data. However, the cloud segment is estimated to manifest the highest CAGR of 16.6% from 2020 to 2027, owing to less investment required, flexible plans offered by vendors, and scalability.

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Based on industry vertical, the manufacturing segment held the highest market share, accounting for more than one-fifth of the total share of the global integrated workplace management system market in 2019, and will maintain its lead during the forecast period. This is attributed to its various benefits including management of operations & maintenance (O&M) and other projects from the same platform, insights offered on energy spending, and rise in productivity at all facilities. The healthcare segment is projected to grow at the fastest CAGR of 15.6% from 2020 to 2027, owing to factors such as changes in medicaid and other healthcare funding, establishment of urgent care facilities and ambulatory surgery centers, and increase in virtual care.

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