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Integrated Workplace Management System (IWMS) Market
An integrated workplace management system (IWMS) is an enterprise-scale software platform that enables executives and managers to reduce these costs significantly and increase business productivity at the same time. Hence, various organization are adopting integrated workplace management system (IWMS) for enhanced efficiency, flexibility, customer satisfaction, and transparency in their facilities management processes. An integrated workplace management system is a software solution that supports IT, real estate professionals and facilities management to manage the endwise life cycle of corporate facilities.
The integrated workplace management system (IWMS) helps to optimise the use of workplace resources to provide an improved employee experience. It also offers various benefits such as capturing and analysing information, optimising workflows, managing operations, and improving the reporting of workplace management related processes. The integrated workplace management system (IWMS) offers suitable features for real estate portfolio management, financial management, leases, capital projects, workplace services, facility and space utilisation, and energy and sustainability.
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The COVID-19 pandemic is impacting the global integrated workplace management system (IWMS) market, affecting logistics, key supply chains, shipping, and more industrial applications. According to estimates, COVID-19 is going to affect the halted projects with low profitability, and organization are showing a slow adoption of integrated workplace management system (IWMS) software and services. Hence, integrated workplace management system (IWMS) market would decline by 2-3% market growth in 2020 as compared to the year 2019. It is estimated that the integrated workplace management system (IWMS) market will grow at an annual rate of 12.5% post COVID-19 period. Also, the return of the employees at the workplace post-COVID-19, would see increasing demands for advanced integrated workplace management system (IWMS) software & services, with cloud-based application and social distancing benefits, enabling new regulations and guidelines regarding workforce safety.
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The major factor which is driving the integrated workplace management system (IWMS) market is the increasing demand for next-generation facility management solutions, globally. Also, the growth of the integrated workplace management system (IWMS) market is boosting due to the supporting business processes in space and workplace management, project management, asset & maintenance planning and control, real estate management, services management, and sustainability management.
The integrated workplace management system (IWMS) offers different features such as reduce costs, increased efficiency, flexibility, and increase business productivity. Such features are creating potential growth opportunities for the integrated workplace management system (IWMS) market, during the forecast period. The increasing demand for CAD applications for modelling spaces as well as global enterprise asset management (EAM) applications are creating potential growth opportunities for integrated workplace management system (IWMS) market.
Challenges
The integrated workplace management system (IWMS) has unexplored benefits of facility and workplace management, high system maintenance costs, along with the shortage of a skilled workforce. Such factors are challenging the adoption of integrated workplace management system (IWMS) in the market.
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Some of the prominent players providing integrated workplace management system (IWMS) are IBM Corporation, Oracle Corporation, Service Works Global, Planon, SAP SE, Accruent, among others.
By geography, the integrated workplace management system (IWMS) market has been segmented into North America, Europe, Latin America, East Asia, South Asia & Pacific, and MEA. Among these regions, North America is expected to dominate the global integrated workplace management system (IWMS) market due to growing developments in smart building projects in the US. Moreover, the emerging countries like India, Malaysia, Indonesia and other, would contribute to the high growth of market in the Southeast Asia region.
The integrated workplace management system (IWMS) market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators, and governing factors, along with market attractiveness as per segment. The integrated workplace management system (IWMS) market report also maps the qualitative impact of various market factors on market segments and geographies.
