Integrated Workplace Management System Market Size & Share, by Offering (Solution, Services); Deployment Type (On-Premises, Cloud); Organization (Large Enterprises, SMEs); End-user (Manufacturing, IT & Telecom, Real Estate & Construction, Healthcare, Retail, BFSI) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2035

  • Report ID: 5054
  • Published Date: Jun 21, 2023
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2023 - 2035

Integrated Workplace Management System Market size is poised to surpass USD 9 Billion by the end of 2035, witnessing around 13% CAGR during the forecast period, i.e., 2023 – 2035. In the year 2022, the industry size of integrated workplace management system was about USD 4 Million. The major factor boosting the market is the growing consumption of energy by the commercial sector. An average small firm consumes between about 14000 and approximately 24000 kWh of energy annually. Hence, by using IWMS enterprise leaders may obtain a comprehensive picture of each building's energy use and they could proactively make changes that minimize expenses while minimizing the carbon footprint.

Furthermore, real estate agents demand a thorough analysis of each structure, including information on its square footage, occupancy, and costs. Corporate real estate managers additionally have to maintain complete records of all assets and property in order to comply with new IASB and FASB lease accounting rules. This includes the lease's conditions, beginning and ending dates, owner, and lessee. With the installation of IWMS software, real estate managers may keep every relevant information on a single digital platform, making it feasible for them to visualize each space and asset in their portfolio as well as respond to inquiries regarding lease accounting.


Integrated Workplace Management System Market
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Integrated Workplace Management System Sector: Growth Drivers and Challenges

Growth Drivers

  • Growing Prevalence of People Working from Home Approximately 81% of the population in the globe preferred working from home in 2022. Moreover, by 2030, about 254 million people would be working remotely in the world. Hence, there has been growing advancement made by the organization in their system in order to benefit remote working employees. Selecting a place to work is the top consideration when coming to a remote operation. The majority of contemporary IWMS solutions give remote workers access to a mobile app so they may book a room in advance of a meeting or reserve a desk. Additionally, these apps enable staff to arrange for food, A/V support, guest wifi, and more.
  • Emergence of New Technologies Technologies including loT, advanced analytics, cutting-edge new sensors, mobility, SaaS, and new development environments are making organizational integration increasingly in demand. As a result, the market is estimated to be influenced.
  • Provide Security to the Organization Every business focuses on security, whether that be the security of data or the workplace itself. Hence, the implementation of IWMS software is on the surge. Moreover, since data is stored across multiple places, each of those places needs to be carefully secured. Hence, the ability to access facility data over a single secure database is one of an IWMS's greatest advantages, as well as one of its most significant security aspects. Also, the facilities manager is able to quickly assess the rate of occupancy of each workstation and the location of each asset owing to an IWMS. With this understanding, the facilities manager may identify potential security or safety problems, such as fire hazards or places that aren't secure though should be, and take the appropriate action.

Challenges

  • Lack of Awareness Among Organization - Although there is an increasing demand for integrated workplace management systems, the market's expansion is being hampered by a scarcity of experienced labor. Additionally, IWMS is experiencing a scarcity of skilled personnel as a result of a lack of understanding of cutting-edge technologies. Given the numerous sites and geographical distribution of the large IWMS projects, implementation is difficult. IWMS efforts have the responsibility of monitoring and resolving issues caused by different cultures, languages, specific laws, and regional business standards. Organizations have had trouble determining how regulatory objectives and company objectives fit due to a lack of experience at the management and senior levels. This also keeps companies from realizing the value of hiring qualified facilities managers.
  • High Cost of Integrated Workplace Management System
  • Lack of Skilled Workforce

Integrated Workplace Management System Market: Key Insights

Base Year

2022

Forecast Year

2023-2035

CAGR

~13%

Base Year Market Size (2022)

~ USD 4 Billion

Forecast Year Market Size (2035)

~ USD 9 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Integrated Workplace Management System (IWMS) Segmentation

Organization Size (Large Enterprises, SMEs)

The large enterprises segment in the integrated workplace management system market is slated to generate the highest revenue by 2035. This growth of the segment is influenced by the rising larger enterprises and growing awareness among them. In 2021, there are expected to be about 351,519 large companies with 250 or more employees worldwide, compared to approximately 337,522 in 2020. Moreover, these large enterprises have significant investments in data analytics which further opens a scope for them to implement advanced technology in order to improve organizations’ productivity and efficiency. Hence, this further dominated the adoption of IWMS in the large enterprises.

End User Industry (Manufacturing, IT & Telecom, Real Estate & Construction, Healthcare, Retail, BFSI)

The manufacturing segment in the integrated workplace management system market is projected to have significant growth over the forecast period. This is owing to the need for tracking, and managing assets & analytics on facility utilization, density, vacancy rates, and chargebacks.

Our in-depth analysis of the global market includes the following segments:

 

   Offering

  • Solution
  • Services

 

   Deployment Type

  • On-Premises
  • Cloud

 

  Organization Size

  • Large Enterprises
  • SMEs

  End User Industry

  • Manufacturing
  • IT & Telecom
  • Real Estate & Construction
  • Healthcare
  • Retail
  • BFSI

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Integrated Workplace Management System Industry- Regional Synopsis

North American Market Forecast

The North America integrated workplace management system market is poised to have the highest growth by the end of 2035. For every technology, North America has always been a leading-edge and competitive region. The region still has one of the greatest acceptance rates for technical advancement. Additionally, the United States currently holds the greatest market share for integrated workplace management systems due to a spike in smart building efforts in this nation.

European Market Statistics

The integrated workplace management system was first used in Europe. Specifically, in the region's manufacturing and automobile industries, predictive maintenance has grown into an essential component of contemporary corporate operations. The integrated workplace management system market is growing in Europe, where it continues to attract significant funding and interest from European companies.

Research Nester
Integrated Workplace Management System Market Share
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Companies Dominating the Integrated Workplace Management System (IWMS) Landscape

top-features-companies
    • Accruent
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Archibus Inc.
    • AssetWorks, Inc.
    • Budgetrac LLC
    • Causeway Technologies
    • Collectiveview, Inc.
    • Facilio, Inc.
    • FM:Systems
    • Oracle Corporation
    • IBM Corporation

In-the-news

In The News

  • Accruent, the industry's top provider of solutions to integrate the built environment, has partnered with Viewport, a prominent global provider of AI-powered software for the process sector, which includes the chemical, oil & gas, and utility industries. The Netherlands-based company Viewport is recognized for integrating software with other platforms where asset-related data is kept in order to produce a unified view of all technical data. By working together, organizations are thought to be better able to face their biggest asset information management difficulties, resulting in continual growth and improvement.
  • The leading provider of connected asset management and services, Yotta, which is now a part of Causeway Technologies, was expected to implement Alloy so that English Heritage could more effectively manage its tree assets, which include 160 hectares of woodland and individual trees with significant historical and botanical value.

Author Credits:  Abhishek Verma, Hetal Singh


  • Report ID: 5054
  • Published Date: Jun 21, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

The major factors driving the growth of the market are growth in number of people working from home, emergence of technologies, and provide security to the organization.

The market size of integrated workplace management (IWMS) is anticipated to attain a CAGR of ~13% over the forecast period, i.e., 2023 – 2035.

The major players in the market are Accruent, Archibus Inc., AssetWorks, Inc., Budgetrac LLC, and more.

The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue generating capacity as well as the new products being launched into the market by the company.

The market is segmented by offering, deployment type, organization size, end user industry and by region.

The large enterprises segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.

Lack of awareness among organization, high cost of integrated workplace management system is estimated to be the growth hindering factors for the market expansion.

The market in the North American region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.
Integrated Workplace Management System Market Report Scope
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