Steady Expansion Forecast for Computer Aided Facility Management (CAFM) Market, Projected to Reach $1.75 Billion by 2029

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What Is the Expected CAGR for the Computer Aided Facility Management (CAFM) Market Through 2025?
Over recent years, the market size for computer aided facility management (cafm) has experienced significant growth. It is set to expand from its size of $1.15 billion in 2024 to $1.25 billion in 2025 with a compound annual growth rate (CAGR) of 9.0%. This growth during the historical period is linked to the incorporation of building information modeling (BIM), heightened focus on energy efficiency and sustainability, the need for consolidated facility management solutions, advances in IoT devices and sensors technology, and an increasing necessity for compliance with regulations.

What's the Projected Size of the Global Computer Aided Facility Management (CAFM) Market by 2029?
The projected growth for the computer aided facility management (cafm) market signposts that it may reach the $1.75 billion mark by 2029, expanding at an 8.7% compound annual growth rate (CAGR). This anticipated rise can be associated with the increased uptake of artificial intelligence and machine learning, broadening of smart building programs, surging demand for cloud-based management solutions, amplified attention towards remote monitoring and management capabilities, and integration of augmented and virtual reality tools for facility management. Key forecast trends encompass the advent of predictive maintenance solutions, introduction of blockchain for secure data management, evolution of mobile-first and user-friendly CAFM apps, incorporation of Internet of Things (IoT) for live asset tracking, and focus on data-driven decision-making in facility management.

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Top Growth Drivers in the Computer Aided Facility Management (CAFM) Industry: What's Accelerating the Market?
The rising trend of virtual offices is anticipated to boost the advancement of the computer-aided facility management (CAFM) market. These virtual workspaces, that are digital platforms enabling staff to cooperate, communicate, and fulfil work assignments from a distance, are generally enabled by technology and digital tools. Demand for flexible work schedules and the need for remote cooperation facilities are propelling the increasing popularity of virtual offices. CAFM platforms can be used remotely from any place that has internet connectivity, providing facility supervisors, managers, and other stakeholders with the ability to virtually coordinate and collaborate on facility management tasks. For example, the US Bureau of Labor Statistics noted in April 2023 that the proportion of establishments where employees were able to work entirely remotely surged from 37.4% in 2021 to 42.2% in 2022. Hence, the increasing demand for virtual workspaces is fuelling the growth of the computer-aided facility management sector.

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What Trends Will Shape the Computer Aided Facility Management (CAFM) Market Through 2029 and Beyond?
Leading businesses in the computer-aided facility management market are concentrating on creating solutions that utilize artificial intelligence to gain a competitive edge. Artificial intelligence (AI) is a term that is used to refer to the imitation of human cognitive functions by machines, such as learning, rationalizing, and solving problems. To illustrate, Auberon Technologies Private Limited, a technology firm based in India, introduced Optima, a third-generation computer-aided facility management (CAFM) tool in March 2024. The AI-based capabilities of Optima enhance operational effectiveness and decision-making processes. This advanced CAFM solution offers a wide range of features designed to improve the efficacy and efficiency of asset, facility, and maintenance management. The AI-powered service management attribute of Optima improves service delivery and heightens client satisfaction through vigilant service level agreement (SLA) tracking and control.

What Are the Main Segments in the Computer Aided Facility Management (CAFM) Market?
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

Subsegments:
1) By Solution: Facility Management Software, Maintenance Management Solutions, Space Management Solutions, Asset Management Solutions, Energy Management Solutions, Workplace Management Solutions, Real Estate Management Solutions, Integrated Building Management Systems (Bms)
2) By Services: Consulting Services, Implementation And Integration Services, Training And Support Services, Managed Services, System Customization Services, Cloud Hosting And Saas Solutions, Data Analytics And Reporting Services

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Which Top Companies are Driving Growth in the Computer Aided Facility Management (CAFM) Market?
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.

Which Regions Will Dominate the Computer Aided Facility Management (CAFM) Market Through 2029?
North America was the largest region in the computer aided facility management (CAFM) market in 2024. 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.

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