The segment is expected to grow at a promising pace in the coming years.īased on End User, the market is segmented into Manufacturing, BFSI, IT & Telecom, Healthcare, Real Estate & Construction, Retail and Others. These enterprises demand strong monitoring solutions and automation capabilities for resource allocation and strategic decision-making. Large enterprises adopt IWMS solutions to streamline their complex work environments. The large enterprises’ segment led the market in 2019.
Moreover, on-premise IWMS solutions are largely adopted by large enterprises with conventional sufficient budgets, physical servers, and expert technicians.īased on Enterprise Size, the market is segmented into Large Enterprises and Small & Medium Enterprises. On-premise is a safer form of deployment model, which surges its demand in the market. The on-premise segment led the market in 2019. This is accredited to the necessity for asset management and smart maintenance, rising focus on increasing employee productivity, need to decrease the IT costs and adoption of active workplaces that would reduce real estate and facility management costs.īased on Deployment Type, the market is segmented into On-premise and Cloud. Based on components, the solution segment led the global integrated workplace management system market size in 2019. Solution Segment is further bifurcated across Facilities & Space Management, Real Estate & Lease Management, Asset & Maintenance Management, Project Management and Others. However, the IWMS market is anticipated to make progress gradually and will recover till mid-2021, due to the increasing need for safeguarding the health of the employee and providing safer workplaces post COVID-19.īased on Component, the market is segmented into Solution and Services. Therefore, the IWMS market growth had been slowed down in 2020. However, the COVID-19 pandemic resulted in the shutdown of industries such as manufacturing and retail due to obligatory lockdown imposed by the governments of various countries. The global integrated workplace management system market has shown considerable growth in the past few years and is likely to exhibit a parallel trend in the coming years. The outbreak of COVID-19 is likely to have an insignificant impact on the growth of the integrated workplace management system market.
The growth in a number of smart & sustainable buildings is also expected to provide lucrative growth opportunities for the worldwide integrated workplace management system market during the forecast period. On the other hand, the introduction of new technologies like IoT, AI, and machine learning and their increasing adoption in integrated workplace management systems will drive the integrated workplace management system market. However, there is a lack of awareness of IWMS solutions in the corporate sector and a shortage of expert staff has limited the growth of the integrated workplace management system market. Other factors include the increasing importance of corporate social responsibilities (CSR). The major factors contributing to the growth of the globally integrated workplace management system (IWMS) market are the increasing adoption of workflow automation solutions by real estate enterprises, and the rising emphasis on energy management by governments. It monitors the real estate portfolio and thus assists in cost containment. It is beneficial in optimizing the use of workplace resources which in turn provides an improved and better employee experience.
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This software helps in managing the end-to-end life cycle of corporate facilities. 10, 2021 (GLOBE NEWSWIRE) - announces the release of the report "Global Integrated Workplace Management System Market By Component, By Deployment Type, By Enterprise Size, By End User, By Region, Industry Analysis and Forecast, 2020 - 2026". An integrated workplace management system (IWMS) is a software platform widely used by facilities management, IT, and real estate professionals. 4 billion by 2026, rising at a market growth of 15% CAGR during the forecast period. The Global Integrated Workplace Management System Market size is expected to reach $7.
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