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Global Integrated Workplace Management System (IWMS) Market Analysis and Forecast 2027 | IBM, Oracle, Archibus, Inc., and Nuvolo

05-27-2024 12:15 PM CET | IT, New Media & Software

Press release from: Allied Market Research

Integrated Workplace Management System (IWMS) Market

Integrated Workplace Management System (IWMS) Market

According to a recent report published by Allied Market Research, titled, "Integrated Workplace Management System Market by Component, Deployment, Enterprise Size, and Industry Vertical: Opportunity Analysis and Industry Forecast, 2020-2027," the global market was valued at $2.34 billion in 2019, and is projected to reach $5.78 billion by 2027, growing at a CAGR of 12.9% from 2020 to 2027.

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An integrated workplace management system (IWMS) is a software platform used by IT, facilities management, and real estate professionals to manage the end-to-end life cycle of corporate facilities. It helps optimize the use of workplace resources to provide an improved employee experience.

It also assists in cost containment by monitoring the real estate portfolio. Integrated workplace management system solutions mainly comprise functionalities such as capital project management, real estate and lease management, space and facilities management, asset & maintenance management, sustainability and energy management, and others.

Primarily, increase in competitiveness & changing workforce dynamics, rise in focus on CSR activities by enterprises, and growth in cloud-based system deployments are expected to drive the growth of the Integrated Workplace Management System (IWMS) market. In addition, post COVID-19 outbreak, need for safe working environment and safeguarding employees at workplaces is also expected to offer lucrative opportunity for integrated workplace management system industry across the world.

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According to the component, the software segment holds majority of the integrated workplace management system market share in 2019 due to the factors such as the need for smart maintenance and asset management, growing focus on increasing employee productivity, need to reduce the IT costs, adoption of agile workplaces to reduce real estate and facility management costs.

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.

By industry vertical, the manufacturing segment accounted for the highest share in the integrated workplace management system market in 2019, owing to its numerous benefits such as manage operations & maintenance (O&M) and other projects from the same platform, getting better insight into energy spending, increasing productivity at all facilities, and complying with regulatory and governance requirements. In addition, the need for data-driven facility and asset management, tracking and analyzing facility utilization is further boosting the growth of IWMS market.

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As per region, the global integrated workplace management system market size was dominated by North America in 2019. Factors such as major presence of leading market vendors in the U.S. and early adoption of advanced technologies such IoT and AI in this region are the major drivers for the integrated workplace management system market growth. In addition, rise in number of smart buildings and increase in need for optimum space & facilities utilization further propel the IWMS market growth in this region.

The outbreak of COVID-19 is anticipated to have a trivial impact on the growth of the integrated workplace management system market. With alarming increase in cases of coronavirus in 2020, many players adopted various business and marketing strategies. For instance, in June 2020, IBM presented Watson Works, a curated set of products that comprises IBM Watson AI models and applications to address post-COVID-19 workplace requirements, such as prioritizing employee health, facilities management, workplace re-entry, space allocation, contract retracing, and communication and collaboration.

Leading market players:

• IBM
• Oracle
• Accruent
• Trimble
• SAP SE
• Planon Corporation
• iOFFICE, Inc.
• Spacewell International
• Archibus, Inc.
• Nuvolo

Access the full summary at: https://www.alliedmarketresearch.com/integrated-workplace-management-system-iwms-market-A07189

Recent Developments:

Notable recent developments include IBM's introduction of Watson Works, a set of AI-driven products to support post-COVID-19 workplace requirements. Additionally, SAP and Honeywell's partnership aims to enhance building performance and safety through a new cloud-based solution.

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Lastly, this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

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