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2020

Integrated Workplace Management System (IWMS) Market

Integrated Workplace Management System (IWMS) Market Size, Share, Competitive Landscape and Trend Analysis Report, by Component, Deployment, Enterprise Size and Industry Vertical : Global Opportunity Analysis and Industry Forecast, 2020-2027

IC : Software and Services

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Author's: Vishwa Gaul | Onkar Sumant
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Integrated Workplace Management System (IWMS) Market Statistics, 2027

The global integrated workplace management system market size was valued at $2.34 billion in 2019, and is projected to reach $5.78 billion by 2027, growing at a CAGR of 12.9% from 2020 to 2027. An integrated workplace management system (IWMS) is a software platform used by IT, facilities management, and real estate professionals to manage the end-to-end life cycle of corporate facilities. It helps optimize the use of workplace resources to provide an improved employee experience. It also assists in cost containment by monitoring the real estate portfolio.

Rise in adoption of workflow automation solutions by real estate enterprises, increase in emphasis on energy management by governments, and surge in importance of corporate social responsibilities (CSR) are some of the major factors that drive the growth of the global integrated workplace management system (IWMS) market. However, lack of awareness of IWMS solutions and scarcity of expert staff are anticipated to restrict the integrated workplace management system market growth. On the contrary, integration of new technologies such as IoT, AI, and machine learning in integrated workplace management system, and growth in number of smart & sustainable buildings are anticipated to provide lucrative growth opportunities for the global integrated workplace management system market during the analysis period.

Integrated-Workplace-Management-System-Market-2020-2027

On the basis of component, the solution segment dominated the overall integrated workplace management system market size in 2019. This is attributed to the need for smart maintenance and asset management, growing focus on increasing employee productivity, need to reduce the IT costs, and adoption of agile workplaces to reduce real estate and facility management costs.

Integrated Workplace Management System (IWMS) Market
By Component
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IWMS Solution segment is projected as one of the most lucrative segments during the forecast period.

In 2019, North America accounted for the highest integrated workplace management system market share, due to high spending on facilities management, increase in number of smart buildings and early adoption of modern technologies such as IoT, AI, and more, in this region. In addition, majority of key market vendors are headquartered in North America, which is also propelling the growth of this segment. The need for space management, reducing costs, forecast the space requirement according to workforce, formulate effective strategies by analyzing all the facilities data act as the key driving factors of the North America integrated workplace management system market.

Integrated Workplace Management System (IWMS) Market
By Region
2027
North America 
Europe
Asia-Pacific
LAMEA

Asia-Pacific would exhibit the highest CAGR of 15.7% during 2020-2027.

The emergence of COVID-19 is expected to have a trivial impact on the growth of integrated workplace management system market. The global integrated workplace management system market witnessed significant growth in the recent past, and is expected to exhibit similar trend in the coming years. However, due to COVID-19 pandemic mostly workplaces of industries such as manufacturing and retail have been shut down due to mandatory lockdown imposed across various countries. Thus, in 2020, the IWMS market growth has been slow. However, the IWMS market is expected to recover till mid-2021, owing to the need for safeguarding employees’ health and providing safe workplaces post COVID-19. Economically, integrated workplace management system generated $2.34 billion in 2019, and is expected to reach $5.78 billion in 2027.

The report focuses on the growth prospects, restraints, and global integrated workplace management system market trends. Moreover, the study includes Porter’s five forces analysis of the industry to understand the impact of various factors such as bargaining power of suppliers, competitive intensity of competitors, threat of new entrants, threat of substitutes, and bargaining power of buyers on the growth of the integrated workplace management system market.

Integrated Workplace Management System (IWMS) Market
By Deployment Mode
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Cloud deployment mode is projected to witness highest growth rate during the forecast period.

Segment Review

The global integrated workplace management system market is segmented on the basis of component, deployment, enterprise size, industry vertical, and region. By component, it is divided into solution and services. The solution segment is further categorized by functionality into capital project management, real estate and lease management, space and facilities management, asset & maintenance management, sustainability and energy management, and others. Depending on deployment, it is categorized into on-premise and cloud. According to enterprise size, the iwms market is segregated into large enterprises and small & medium enterprises. As per industry vertical, it is fragmented into manufacturing, IT & telecom, real estate & construction, healthcare, retail, BFSI, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific and LAMEA.

The key players operating in the global integrated workplace management system market analysis include IBM, Oracle, Accruent, Trimble, SAP SE, Planon Corporation, iOFFICE, Inc., Spacewell International, Archibus, Inc., and Nuvolo.

Integrated Workplace Management System (IWMS) Market
By Enterprise Size
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Large Enterprises accounted for the highest market share in 2019.

Top Impacting Factors

Rise in adoption of workflow automation solutions by real estate enterprises

Real estate businesses are dynamic in nature and require handling of many processes such as handling multiple projects, tracking different locations, keeping up to date inventories, selling property, finding tenants, and getting investors on board for new developments, among many others. Workflow automation enables real-time tracking of assets, vendors, products, and transactions within the business enterprise. This enables organizations to focus on the core objectives of the business. Adoption of integrated workflow management systems, specifically by real-estate enterprises is driving the market.

Automation in this industry brings improvement in communication and reduces friction for managing business of real estate companies. Workflow automation in real estate services can be managed by using integrated web interface. Tracking the property constructions, property details, progress of ongoing projects, renewals of agreements, emails, documents, and all other associated activities are centralized. Further, licenses, sale deed, agreements, subcontractor agreements, and loan related documentation can be aggregated with an integrated software. There is a growing demand for robust analytics for real estate and capital planning; thus, driving the growth for integrated workplace management system market.

Integrated Workplace Management System (IWMS) Market
By Industry Vertical
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Manufacturing industry is one of the most significant segments.

Increase in emphasis on energy management by governments

Growth in government regulations on energy and waste management and carbon footprints has obliged organizations to improve and maintain their business activities in order to decrease and control emission of harmful gases. For instance, the Energy Policy Act of 1992, by the U.S. Federal Government, focuses on energy reduction and lists guidelines for the implementation of conservation measures. In the U.S., there are currently 22 states with a mandatory Energy Efficiency Resource Standard (EERS) and 4 states with a voluntary EERS (non-binding). EERS is a mechanism to encourage more efficient generation, transmission, and use of electricity, and in some cases natural gas.

Furthermore, the Energy Conservation Building Code (ECBC) was developed by Government of India for new commercial buildings on 27th May 2007. ECBC sets minimum energy standards for new commercial buildings having a connected load of 100 kW or contract demand of 120 KVA and above. Such government policies for energy management across various countries are further boosting the growth of the IWMS market, as it offers the energy & sustainability management functionality. Similarly, governments across the world are using regulations to encourage businesses to decrease carbon emissions. The integrated workplace management system helps calculate emissions generated by businesses and develops a solution to improve the long-term sustainability of the environment and businesses.

Key Benefits For Stakeholders

  • This study includes the analytical depiction of the global integrated workplace management system market forecast and trends to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and integrated workplace management system market opportunity.
  • The current market size is quantitatively analyzed from 2019 to 2027 to highlight the financial competency of the integrated workplace management system industry.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the iwms market.

Integrated Workplace Management System (IWMS) Market Report Highlights

Aspects Details
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By Component
  • Solution
  • Services
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By Deployment
  • On-Premise
  • Cloud
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By Enterprise Size
  • Large Enterprises
  • Small & Medium Enterprises (SMEs)
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By Industry Vertical
  • Manufacturing
  • IT & Telecom
  • Real Estate & Construction
  • Healthcare
  • Retail
  • BFSI
  • Others
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By Region
  • North America  (U.S., Canada)
  • Europe  (UK, Germany, France, Rest of Europe)
  • Asia-Pacific  (China, India, Japan, Australia, Rest of Asia-Pacific)
  • LAMEA  (Latin America, Middle East, Africa)
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Key Market Players

.Archibus, Inc., iOFFICE, Inc., SAP SE, Trimble, Planon Corporation, Oracle Corporation, Nuvolo, Accruent, Spacewell International, International Business Machines Corporation

Analyst Review

Asia-Pacific countries are expected to witness high adoption of integrated workplace management system due to presence of large number of enterprises and SMEs and increase in facilities management adoption in the region.

In future, integrated workplace management system models will play an integral role in business processes due to the immense economic value generated by it. With integrated workplace management system, organizations have the opportunity to take action proactively in a variety of functions. Government regulations regarding environment friendly & energy-efficient buildings and rise in focus on sustainability in Europe and Asia-Pacific are further propelling the demand for integrated workplace management system in these regions.

Moreover, rise in cloud adoption and upsurge in investment in facilities management are expected to boost the growth of the integrated workplace management system market in the coming years. The COVID-19 pandemic is a good opportunity for workplace managers to decrease the financial burden by maximizing existing space to introduce activity-driven practices that fill the workplace with fresh plans post pandemic.

Targeting aggressive growth and scaling up in business with conventional on-premises model could be a challenge with IWMS. Hence, companies in the integrated workplace management system (IWMS) market should increase their focus in cloud-based models that deliver real-time applications dashboards and reporting.

Moreover, the outbreak of the COVID-19 pandemic in 2020 has led to innovation of integrated workplace management system solution for combating the crisis and helping industries in making strategies to safeguard their workplaces as well as consider future resource demands.

The key players operating in the global integrated workplace management system market include IBM, Oracle, Accruent, Trimble, SAP SE, Planon Corporation, iOFFICE, Inc., Spacewell International, Archibus, Inc., and Nuvolo. These players have adopted various revenue and business growth strategies to enhance and develop their product portfolio, strengthen their market share, and increase their market penetration

Author Name(s) : Vishwa Gaul | Onkar Sumant

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Integrated Workplace Management System (IWMS) Market

Global Opportunity Analysis and Industry Forecast, 2020-2027