The global integrated workplace management system market is projected to record a CAGR of 12.78% during the forecast period, 2021-2028. The benefits like time-saving, growing demand for energy management, thriving AI technology & IoT, and cost-effectiveness propel market growth.
Integrated Workplace Management System, also known as IWMS software, is part of a next-generation FM (Facility Management) solutions in the workplace. The lower-level employees, corporate real estate management software, and maintenance management in varied departments can look over real estate expenditure and cost savings.
The IWMS minimizes the time spent retrieving lease information from IT systems and compiling compliance reports, thereby aiding savings on lease management and real estate. It also considerably reduces the time spent reporting on space utilization and surveying spaces. In addition, it can manage building operations and workplace services, making essential functions like booking rooms and meetings efficient. Besides, it saves time spent reporting on energy usage and analyzing utility bills. Moreover, it streamlines building maintenance by reducing reactive maintenance time, taking inventory of assets, and reporting data. Such aspects drive the global IWMS market growth. However, the limited availability of professionals and the limited exploration of the IWMS hamper the market growth.
The global integrated workplace management system market growth analysis includes the geographical evaluation of Europe, North America, Asia-Pacific, and Rest of World. Asia-Pacific is expected to be the fastest-growing region in the global market, given the rising focus on energy management, the introduction of advanced technologies and workflow automation solutions, and the increasing smart & sustainable buildings.
The market’s high competitive rivalry depends on aftermarket services, reseller base, warranty, costs, product innovations, and customer retention. MRI Software, Accruent Llc, FM Systems, International Business Machines (IBM) Corporation, etc., are among the leading market players.
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