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(MoneyNewsWire.Net, August 08, 2018 ) The report "Integrated Workplace Management System Market by Solution (Environment & Energy Management, Real Estate, Operations & Facility Management), Service (Consulting, Managed), Application (Property, Space & Move Management) - Global Forecast to 2021", is expected to grow from USD 1.52 Billion in 2016 to USD 3.35 Billion by 2021, at an estimated Compound Annual Growth Rate (CAGR) of 17.1% during the forecast period. The major drivers of this market include changing workforce dynamics, strict regulatory compliances, and increase in Corporate Social Responsibility (CSR) activities. Evolution of Internet of Things (IoT) and huge growth in application of cloud platforms across the globe provides vast opportunities for the IWMS vendors, service providers, and consulting companies.
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Environmental and energy management solution segment to be the most encouraging segment during the forecast period
The market size for environmental and energy management solution is expected to be the highest during the forecast period. The advancement in the solution adoption is due to the increasing CSR activities across the globe. The increasing awareness towards environmental protection from greenhouse gas emissions, carbon footprints, and waste management also drives the environmental and energy management solution among verticals.
Property management application segment is expected to be the most promising segment during the forecast period
The IWMS market has been segmented into solutions, services, applications, and verticals. The property management application is projected to have the highest market share; hence, will present good market opportunity during the forecast period. The growth of real estate sector and increasing construction in Middle East and Africa (MEA) and Asia-Pacific (APAC) are considered as the primary drivers for the growth of the IWMS market. Increasing technological awareness in emerging economies is expected to provide huge opportunities for the growth of the market.
Presently, North America contributes the maximum market share
North America is expected to have the largest market share and would dominate the IWMS market from 2016 to 2021 due to government mandates and increasing adoption of cloud computing in the U.S. and Canada. APAC and MEA offer potential growth opportunities due to the development of large-scale infrastructure and increasing technological adoption.
The major vendors covered in the IWMS market for this study include IBM Corporation, Oracle Corporation, Trimble Navigation Limited, Planon Corporation, Accruent LLC, ARCHIBUS, Inc., NJW Limited, Indus Systems, FM:Systems, Inc., and iOffice Corporation.
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MarketsandMarkets segments the IWMS market on the basis of Solutions- real estate management, project management, facility management, operations and services management, and environmental & energy management; Services- professional services and managed services; Applications- property management, maintenance management, space & move management, and technology management Verticals- public sector, telecommunication & IT, manufacturing, BFSI, real estate & construction, retail, healthcare, education, and others; and Geography- North America, Europe, MEA, APAC and Latin America. A detailed analysis of the regions has been done to provide insights into the potential future business opportunities in different regions.
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