The 2023 report on the “Integrated Workplace Management System (IWMS) Market” presents a thorough and accurate examination of different factors pertaining to business expansion prospects, challenges, risk elements, and trends in all geographical regions. This report delivers current information on the most recent technological developments, along with SWOT and PESTLE analysis, and valuable insights on market size.
Global Integrated Workplace Management System (IWMS) Market is valued approximately USD 2.3 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 12.5 % over the forecast period 2020-2027. Integrated workplace management system (IWMS) is a software platform that helps organizations to optimize the use of workplace resources, including the management of a companys real estate portfolio, infrastructure and facilities assets.
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According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3%. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.
The global Integrated Workplace Management System (IWMS) market is facing challenges due to the coronavirus pandemic as halted projects and low profitabilities. However, return of the workforce at the workplace post-COVID-19 demands an advanced IWMS solution with risk management capabilities and social distancing benefits, as IWMS is a requirement for infrastructure and manufacturing companies.
The growing cloud-based application deployments, increasing competitiveness and workforce dynamics, growing importance of corporate social responsibilities across the globe and increasing government regulatory compliances are the few factors responsible for growth of the market over the forecast period. Furthermore, the rising advancements and other strategic alliance by market key players will create a lucrative demand for this market.
For instance: in June 2020, IBM launched Watson Works, AI models and applications to address post-COVID-19 workplace requirements, such as workplace re-entry, prioritizing employee health, facilities management, space allocation, contract retracing, and communication and collaboration. However, unexplored benefits of facility and workplace management is the major factor restraining the growth of global Integrated Workplace Management System (IWMS) market during the forecast period.
The regional analysis of global Integrated Workplace Management System (IWMS) market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world owing to the increasing developments in smart building. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027.
Major market player included in this report are:
IBM
Oracle
Trimble
Accruent
SAP
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Planon
Archibus
Service Works Global
Causeway Technologies
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study.
Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Offering:
Solution
Services
By Deployment Type:
On-premises
Cloud
By Organization Size:
Large Enterprises
Small and Medium-sized Enterprises (SMEs)
By Vertical:
Public Sector
IT and Telecom
Manufacturing
BFSI
Real Estate and Construction
Retail
Healthcare
Education
Others
By Region:
North America
U.S.
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Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Market Dynamics:
- Surging air traffic: As the global aviation industry continues to expand, there is a corresponding increase in market demand.
- Heightened emphasis on safety and reliability: The aerospace and defense sector places significant importance on ensuring safety and reliability, which drives the need for top-notch market offerings.
- Growing commitment to environmental sustainability: The aerospace and defense industry is increasingly dedicated to reducing its carbon footprint, resulting in the adoption of sustainable aviation fuels.
- Escalating globalization: The growth of international trade and travel propels the demand for market solutions.
- Increasing desire for private air transportation: The rising number of affluent individuals and their preference for exclusive air travel are generating fresh opportunities in the market.
- Expanding utilization of digital fuel management systems: The integration of digital fuel management systems facilitates efficient fuel consumption and reduces associated costs.
- Advancements in fuel cell technology: Ongoing developments in fuel cell technology unlock new possibilities for the production of sustainable market alternatives.
- Mounting demand for air cargo transportation: The flourishing e-commerce sector fuels an increasing need for air cargo transportation, thereby driving the demand for market offerings.
- Rising defense budgets: Governments worldwide are augmenting their defense spending, leading to heightened market demand.
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