The need for improved and efficient operational solutions to drive the growth for IWMS market
The global Integrated Workplace Management System (IWMS) market size is projected to grow from USD 2.3 billion in 2019 to USD 4.6 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 14.2% from 2019 to 2024. The IWMS market is expected to grow at a fast pace, owing to the increased adoption of the Internet of Things (IoT), and Information and Communications Technology (ICT) across different industry verticals. In addition to this, the growth of the cloud-based deployment model for IWMS solutions is helping organizations utilize the benefits of advanced solutions, without investing in the physical infrastructure.
Solution segment to hold a larger market size in 2019
The solution segment is projected to contribute majorly to the market, while the services segment is projected to witness a higher growth rate during the forecast period. This growth is supported by the need for the upgrades and maintenance of existing solutions. These solutions help in the alignment of administrative, technical, infrastructural, and environmental support functions to fulfill the core objective of businesses.
By vertical, manufacturing industry to register the largest market size during the forecast period
The manufacturing vertical is expected to hold the largest market size in the IWMS market. With rapid technology implementation across the manufacturing vertical, the degree of competitiveness among organizations has increased drastically. As a result, organizations are keen to implement efficient workplace solutions in their manufacturing facilities.
Asia Pacific (APAC) to register the highest growth rate during the forecast period
The APAC IWMS market is experiencing a disruptive growth, owing to increase in the adoption of Internet of Things (IoT) which is encouraging the organizations in the region to integrate IWMS solution for streamlining their operational processes. The expansion of corporate and government networks, the proliferation of cloud services, growing businesses, and associated operations are expected to increase the use of IWMS solutions in this region. The major countries to witness high growth rates in this region include China, Japan, India, and others.
- By Company Type: Tier 1 – 62%, Tier 2 – 23%, and Tier 3 – 15%
- By Designation: C-level executives– 38%, Director Level – 30%, and Others – 32%
- By Region: North America – 40%, Europe – 15%, APAC – 35%, MEA – 5%, LA – 5%
Major vendors offering IWMS solutions are IBM (US), Oracle (US), Trimble (US), Planon (Netherlands), Accruent (US), ARCHIBUS (US), Service Works Global (UK), Causeway (UK), SAP (Germany), FSI (UK), FM:Systems (US), iOFFICE (US), Spacewell (Belgium), MRI Software (US), and Facilio (US).
The market study covers the IWMS market size across segments. It aims at estimating the market size and the growth potential of the market across segments by offering, deployment type, vertical, and region. The study also includes an in-depth competitive analysis of the key market players, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key Benefits of Buying the Report
- The report will help the market leaders/new entrants with information on the closest approximations of the revenue numbers for the overall IWMS market and its subsegments.
- The report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and to plan suitable go-to-market strategies.
- The report will also help stakeholders understand the pulse of the market and provide them with information on key market drivers, restraints, challenges, and opportunities.