Integrated Workplace Management System Market Size

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.

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 â€“ 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 Size