The integrated workplace management system (IWMS) market is predicted to grow at a robust CAGR of 10.9% during the forecast period of 2022 to 2032. It is estimated that the globally integrated workplace management system (IWMS) market might reach a value of nearly US$ 9.2 Billion by 2032, increasing from US$ 2.9 Billion in 2021.
The necessity for corporate integration is growing in all verticals as improved analytics, modern, sophisticated sensors, software as a service (SaaS), and portability have become widely adopted around the world. As a result, the use of integrated workplace management software has increased across several business enterprises affirming its impressive market growth in the recent past years.
What is the Covid-19 Impact on Global Integrated Workplace Management System (IWMS) Market?
Following the outbreak of the Covid-19 epidemic, integrated workplace management system (IWMS) market players encountered certain issues that are observed to be continuing hitherto.
Several industrial and commercial organizations were forced to temporarily halt any new automation attempts, thereby weakening the integrated workplace management system (IWMS) market key trends and opportunities. Moreover, the IWMS service providers experienced a considerable drop in revenues in the year 2020 owing to their cost-cutting measures.
However, the pandemic years offered a disguised benefit for the integrated workplace management system (IWMS) market future trends by the digitization of all possible workplaces in an attempt to follow the social distancing norms. As a result, in the post-pandemic years, the integrated workplace management system (IWMS) market share is expected to gain an upswing in demand for IWMS integrated with advanced features.
What are the Main Issues Facing the Market Players for Integrated Workplace Management Systems (IWMS)?
It is anticipated that the lack of knowledge about integrated workplace management software and its significance in managing a firm may to some extent hinder its adoption. The growth of the integrated workplace management system (IWMS) market size across the various verticals has also been constrained by claims made about expensive implantation charges by the linked markets.
“As businesses at levels becoming more aware of the numerous advantages of IWMS solution or software, its demand is expected to increase manifold in the forthcoming years.”
Another significant issue facing the market is the need for knowledgeable employees who have received extensive training to use IWMS software. As a result, third-party software or solution providers have joined forces with the market. Due to a lack of commercially viable terms, this arrangement of employing third-party licencing to support software frequently results in failures.
Integrated Workplace Management System (IWMS) Market Key Players
- Service Works Global
- FM Systems