According to Inkwood Research, the Global Integrated Workplace Management System Market is projected to grow at a CAGR of 12.78% in terms of revenue during the forecasting period of 2021-2028.
“Browse 57 market Data Tables and 50 Figures
spread over 202 Pages, along with an in-depth TOC on the Global Integrated
Workplace Management System Market Forecast
2021-2028.”
An integrated workplace management system
(IWMS) is a software platform that enables workplace leaders, corporate real
estate professionals, and facilities managers to conduct important functions
required to engage the workforce and operate buildings. The five central parts
of the IWMS are sustainability & energy management, capital project
management, maintenance management, real estate management and lease
accounting, and space & facilities management.
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Demand for
Energy Management propels Market Growth
Energy management is the practice of
tracking and minimizing the organization’s energy consumption. Though it can
start with simple steps, it also obligates complex financial modeling for
future year planning. As a result, there is a growing emphasis on sophisticated
energy management programs. Additionally, government regulations on energy
& waste management and carbon footprint have raised the pressure to enhance
and maintain operations that minimize harmful gas emissions. For instance, the
US Federal Government’s Energy Policy of 1992 prioritizes energy conservation
and has guidelines for implementing conservation measures.
At present, 22 states in the US have a
mandatory EERS (Energy Efficiency Resource Standard), and four states have a
voluntary EERS. It is a mechanism that facilitates the efficient use of
electricity, transmission, and generation of electricity. The IWMS calculates
emissions generated and produces solutions to improve the long-term
sustainability of businesses and the environment.
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Dominating
Organization: Large Enterprises
Large enterprises have a large workforce
and revenue. As a result, businesses lookout for innovative ways to transform
their processes. This has increased their reliance on business analytics to
offer a vast range of services and swift responses to consumers. Business
analytics help large enterprises make decisions on real-time data securely,
increase profitability, and drive efficiency.
Further, large enterprises are investing
largely in data analytics that allows the integration of advanced technologies
into infrastructure and improves overall productivity. Therefore, they are
increasingly implementing IWMS. One of the significant drivers of the global
IWMS market is the fast-paced increase in mission-critical applications among
larger enterprises.
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Largest
Region with Revenue Share: North America
The SMEs in the region have the highest
cloud-based technology adoption globally. They account for almost 90-95% of the
total number of enterprises in the region. Also, many countries have made
considerable investments in smart space infrastructures like parking spaces,
retail, offices, buildings, etc., attributed to the presence of major market
players in the region. In addition, there are also increasing investments in
IoT. Such factors offer growth opportunities.
The market rivalry is high, accredited to
the cost of provided services, scalability parameters, and service reliability.
Some of the prominent market players include MRI Software, FM Systems, Archibus
Inc (iOFFICE + SpaceIQ), IBM, etc.
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energy, with an objective comprehension that acknowledges the business
environments. Our geographical analysis comprises North & South America,
CEE, CIS, Middle East, Europe, Asia, and Africa.
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