Integrated Workplace Management System (IWMS) Market by Component (Solution and Services), Deployment (On-premise and Cloud), Enterprise Size (Large Enterprises and Small & Medium-sized Enterprises), and Industry Vertical (Manufacturing, IT & Telecom, Real Estate & Construction, Healthcare, Retail, BFSI, and Others): Opportunity Analysis and Industry Forecast 2027
|ID: VPR/ICT/1181||Publishing Year: January 2022||Pages: 101||Format:|
Integrated Workplace Management System (IWMS) Market Overview:
An Integrated Workplace Management System (IWMS) is a large-scale software platform that allows executives and managers to considerably minimise these expenditures while simultaneously increasing business productivity. As a result, numerous organisations are implementing integrated Workplace Management Systems (IWMS) in their facilities management processes to improve efficiency, flexibility, customer satisfaction, and transparency. A software solution that assists IT, real estate experts, and facilities management in managing the end-to-end life cycle of corporate facilities is known as an integrated workplace management system.
The Integrated Workplace Management System (IWMS) aids in the efficient use of resources in the workplace, resulting in a better employee experience. It also has a number of advantages, including the ability to capture and analyse data, optimise workflows, manage operations, and improve the reporting of workplace management processes. Real estate portfolio management, financial management, leases, capital projects, workplace services, facility and space utilisation, and energy and sustainability are all covered by the Integrated Workplace Management System (IWMS).
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.
The tendency nowadays is to move away from complex on-premises implementation and toward cloud-based (SaaS-based) deployment. IWMS's SaaS installation allows for more granular, cost-effective, and resource-intensive projects. Tiny businesses prefer cloud deployment because it allows them to spend a small percentage of their income for data centre infrastructure, onsite implementation, deployment, and training. Cloud platforms offer a perfectly cost-effective and simply deployed alternative, obviating the need for small businesses to create on-premises data centres. Furthermore, cloud technology may provide a number of advantages to the integrated workplace management system market, including real-time tracking, integrated operations, reduced energy usage, safety and security, disaster recovery, and data centre consolidation. For example, site managers can now send notifications to staff in faraway places at any time, thanks to the use of mobile devices and cloud technologies.
The lack of knowledge of the integrated workplace management system market's importance in businesses is a major stumbling block to its progress. Previously, workplace administration was a time-consuming effort because each duty had to be controlled manually. It was regarded as a lesser-known department of a company with less visibility. Managers began focusing on good workplace management as the requirement for operational efficiency grew. Furthermore, despite the fact that workplace management is a vital feature of enterprises, many people are unaware of the evolving products and services that have elevated this department to the same level as other fundamental business activities.
Many countries, particularly developing ones like Malaysia, Saudi Arabia, Mexico, and Columbia, are providing IWMS suppliers with a diverse range of prospects. Despite this, growth is modest due to a lack of awareness about the relevance of facility management development. Myths such as facility managers believing customisation is highly expensive and that IWMS requires
Component, deployment, enterprise size, industry vertical, and region are all used to segment the Worldwide Integrated Workplace Management System Market. It is separated into solution and services by component. Capital project management, real estate and lease management, space and facilities management, asset & maintenance management, sustainability and energy management, and others are the functional categories under the solution segment. It is divided into two categories based on deployment: on-premise and cloud. The iwms market is divided into two categories based on enterprise size: major enterprises and small and medium enterprises. Manufacturing, IT & telecom, real estate & construction, healthcare, retail, BFSI, and others are the various industry verticals. North America, Europe, Asia-Pacific, and LAMEA are the regions studied.
This is due to the presence of key vendors in the region, including International Business Machines Corporation, Accruent, FM:Systems, and MRI Software LLC. The demand for IWMS solutions for asset and maintenance management, space management, and real estate and lease management is expected to increase as the number of smart building projects in the region grows.
Customers can use IWMS Solutions to connect various aspects of their company into a single application. Managers now have access to a comprehensive database of vital information, including invoices, client information, and orders. Furthermore, many companies in North America are continually looking for ways to improve efficiency and lower operating expenses. Over the projected period, this is expected to drive the market in the North American region. The market in North America is expected to grow because to the rising number of small and medium businesses in the region, as well as the increased adoption of cost-effective cloud-based workplace management solutions.
For infrastructure and manufacturing companies, an IWMS solution is rapidly becoming a must. Companies are sluggish to implement IWMS solutions and services, owing to stalled projects and low profitabilities as a result of global COVID-19 lockdowns. Furthermore, the return of the workers to the workplace following COVID-19 necessitates a sophisticated IWMS solution with risk management capabilities and social distancing benefits, which is best matched to current workplace safety norms and regulations. Furthermore, because of the cheap Total Cost of Ownership (TCO), everywhere access, and scalability features of cloud-based IWMS solutions, which are a must-have necessity during the COVID-19 issue, demand for cloud-based IWMS Systems has surged.
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