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High Security Concerns leading to Rising Deployment of On-Premise Integrated Workplace Management Systems: Fact Report
ROCKVILLE, MD, UNITED STATES, June 19, 2024 /EINPresswire / -- The global integrated workplace management system (IWMS)
market has been valued at US$ 4 billion in 2024, as revealed in the recently updated
industry analysis published by Fact, a market research and competitive intelligence provider. The global market has been projected to expand at a noteworthy 10.2% CAGR from 2024 to 2034.
In recent years, there has been growing deployment of on-premise integrated workplace management systems by organizations, which allows them to scale up their functionalities and easily manage and upgrade different solutions. In addition, end-use industries such as healthcare and BFSI prefer on-premise solutions more due to rising security concerns.
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Rapidly increasing demand for integrated workplace management systems in East Asia is owing to the expansion of government and corporate networks, which are generating huge demand for supportive tools. Further, proliferation of cloud services in the region is driving up demand for IWMS solutions for quick content delivery through digitization.
Key Takeaway from Market Study
The global IWMS market is evaluated to reach a value of US$ 10.6 billion by the end of 2034. East Asia is approximated to account for 25.8% share of global market revenue by 2034.
Demand for integrated workplace management systems in South Korea is analyzed to accelerate at a CAGR of 11.9% from 2024 to 2034. Sales of integrated workplace management systems in Japan are forecasted to climb at 11.7% CAGR through 2034.
Global demand for IWMSs for use in large enterprises is calculated to increase at a CAGR of 9.8% and reach a market value of US$ 6.5 billion by 2034-end. Integrated workplace management system solutions are projected to occupy 64% share of the global market by the end of 2034.
“Less energy consumption, real-time tracking, integrated processes, data center consolidation, safety and security, and disaster recovery are some of the key advantages of IWMS solution, contributing to their increased demand,” says a Fact analyst.
Presence of Key Market Players in United States
Demand for IWMSs in the United States is analyzed to accelerate at a CAGR of 10.1% and reach a market value of US$ 1.2 billion by 2034-end. The country is home to some of the leading market players such as Trimble, IBM, Accruent, and Oracle. In addition, increasing development of smart building products for managing and maintaining assets, space management, and real estate & lease management is contributing to rapid market growth in the country.
Key Market Players
Some of the leading integrated workplace management system providers are Accruent, Service Works Global, IBM Corporation, iOFFICE, Oracle, FM Systems, Trimble Inc., FSI, MRI Software LLC, SAP, Nemetschek Group, and Planon.
Competitive Landscape
Key players in the integrated workplace management industry are adopting several strategies such as collaborations, new product launches, and portfolio expansion to establish themselves and gain a competitive edge in this business space.
For instance :
Crestron Electronics and Tango, in May 2023, announced their extended partnership. Crestron developed Desk Touch, a sophisticated hardware solution used for desk scheduling with sleek touch interface features. With this integration, the company is planning to offer advanced workplace analytics and improve desk utilization with the support of Tango.
Eptura, in April 2023, launched updates to its system Archibus used for integrated workplace management. These additions are offering greater analysis options and occupancy transparency, thereby allowing facility management teams to make an effective use of building operations on-site.
Fact provides detailed information about the price points of key integrated workplace management system providers positioned across the world, sales growth, production capacity, and speculative technological expansion, in the recently updated market report.
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More Valuable Insights on Offer
Fact, in its new offering, presents an unbiased analysis of the integrated workplace management system (IWMS) market, presenting historical demand data (2019 to 2023) and forecast statistics for the period (2024 to 2034).
The study divulges essential insights into the market based on offering (solutions, services (professional services, managed services)), deployment (on-premise, cloud), organization size (large enterprises, small & medium-sized enterprises (SMEs)), and vertical (public sector, IT & telecom, manufacturing, banking, financial services, & infrastructure (BFSI), real estate & construction, retail, healthcare, education, F&B, chemicals, transportation, agriculture), across seven major regions of the world (North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia & Pacific, and MEA).
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