Computer Aided Facility Management (CAFM) Global Market Report 2024 by The Business Research Company | International Business Machines Corporation, Schneider Electric SE, Fortive Corporation, Bentley Systems, Eptura, Brightly Inc., Planon Corporation, Foc

The computer aided facility management market size has grown strongly in recent years. It will grow from $1.05 billion in 2023 to $1.15 billion in 2024 at a compound annual growth rate (CAGR) of 9.2%. The growth in the historic period can be attributed to integration of building information modeling (bim), increasing emphasis on sustainability and energy efficiency, demand for centralized facility management solutions, technological advancements in sensors and IoT devices, and growing need for compliance and regulatory adherence.

The computer aided facility management market size is expected to see strong growth in the next few years. It will grow to $1.66 billion in 2028 at a compound annual growth rate (CAGR) of 9.7%. The growth in the forecast period can be attributed to adoption of artificial intelligence and machine learning technologies, expansion of smart building initiatives, rise in demand for cloud-based facility management solutions, increasing focus on remote monitoring and management capabilities, and integration of augmented reality and virtual reality tools for facility management. Major trends in the forecast period include emergence of predictive maintenance solutions, implementation of blockchain for secure facility data management, growth of mobile-first and user-friendly CAFM applications, integration of Internet of Things (IoT) for real-time asset tracking, and emphasis on data analytics for informed decision-making in facility management.

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Computer Aided Facility Management (CAFM) Market Major Segments
The computer aided facility management (CAFM) market covered in this report is segmented -

1) By Component: Solution , Services
2) By Deployment: On-Premises, Cloud
3) By Industry: IT And Telecom, Banking, Financial Services, and Insurance(BFSI), Manufacturing, Energy And Utilities, Government And Defense, Healthcare And Life Sciences, Retail And CPG, Transportation And Logistics, Other Industries

Key Driver - Virtual Workplaces Fuel Growth In Facility Management Market

The growing popularity of virtual workplaces is expected to propel the computer-aided facility management market going forward. Virtual workplaces are digital environments where employees can collaborate, communicate, and perform work tasks remotely, often facilitated by technology and online tools. Virtual workplaces' growing popularity is driven by the desire for flexible work arrangements and the need for remote collaboration capabilities. CAFM systems is accessed remotely from any location with an internet connection, allowing facility managers, administrators, and other stakeholders to collaborate and coordinate facility management tasks virtually. For instance, in April 2023, according to the US Bureau of Labor Statistics, a US-based governmental organization, the percentage of establishments with employees who teleworked all the time grew from 37.4% in 2021 to 42.2% in 2022. Therefore, the growing popularity of virtual workplaces is driving the computer-aided facility management market's growth.

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Prominent Trend - Next-Gen AI-Powered CAFM Solution Optimizes Facility Management

Major companies operating in the computer-aided facility management market are focused on developing solutions that leverage artificial intelligence to gain a competitive advantage. Artificial intelligence (AI) refers to the simulation of human intelligence processes by machines, including learning, reasoning, and problem-solving. For instance, in March 2024, Auberon Technologies Private Limited, an India-based technology company, launched Optima, a third-generation computer-aided facility management (CAFM) solution. The AI-driven features of Optima advance operational efficiency and decision-making. This next-gen CAFM solution introduces a comprehensive suite of features to enhance the efficiency and effectiveness of asset, facility, and maintenance management. With this AI-driven service management feature, Optima optimizes service delivery and improves customer satisfaction through meticulous service level agreement (SLA) tracking and management.

Computer Aided Facility Management (CAFM) Market Players
Major companies operating in the computer aided facility management (CAFM) market are International Business Machines Corporation, Schneider Electric SE, Fortive Corporation, Bentley Systems, Eptura, Brightly Inc., Planon Corporation, Focus Softnet Pvt. Ltd., Idox plc, ServiceChannel Inc., Ramco Systems Ltd., SelectHub, AssetWorks Inc., Verve Systems Private Limited, Facilities Management eXpress (FMX), eMaint Enterprises LLC., Fracttal Tech S.L, Updater Services Limited, CMMS Data Group Inc., VLogic Systems Inc., MicroMain Corporation, Velosi Asset Integrity Ltd., Cryotos Solutions Private Limited, eFacility Inc., MPulse Software Inc.

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Largest And Fastest Growing Region In The Market
North America was the largest region in the computer aided facility management (CAFM) market in 2023. The regions covered in the computer aided facility management (CAFM) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Computer Aided Facility Management (CAFM) Market Report Structure
3. Computer Aided Facility Management (CAFM) Market Trends And Strategies
4. Computer Aided Facility Management (CAFM) Market - Macro Economic Scenario
5. Computer Aided Facility Management (CAFM) Market Size And Growth
…..
27. Computer Aided Facility Management (CAFM) Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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