The market size of the Global Integrated Workplace Management System (IWMS) is projected to grow from USD 2.6 billion in 2020 to USD 5.3 billion by 2027, at a compound annual growth rate (CAGR) of 12.2 per cent from 2020 to 2027.
Integrated Workplace Management Systems support business processes in real estate management, planning and control of assets & maintenance, space and workplace management, management of services, project management and sustainability management. True IWMS software, as defined by Gartner, is an enterprise class software platform that integrates five key functionality components, operated from a single technology platform and repository for databases. The IWMS market has seen a rise mainly due to increased Internet of Things (IoT) and Information and Communications Technology ( ICT) adoption across various vertical industries. The demand for IWMS is driven by the need for improved and efficient operational solutions, which leads to increased solution and service sophistication.
The industry is rapidly gaining traction across technology such as IoT, predictive analytics, cutting-edge digital sensors, automation, SaaS, and innovative growth environments, creating more demand for enterprise convergence than ever before, which in turn impacts IWMS implementation across organisations. The IWMS platform will communicate through social media, impact project coordination and use of space. IWMS can assist system and computer data from sensors, metres, and smartphones and so on, while enabling integration of processes, decisions and services. In comparison to conventional analytical methods, IWMS is now integrated with the enterprise method of Real Estate Financial Modelling (REFM), as well as pre-configured for business use.
Report : Integrated Workplace Management System Market - By offerings (Solution, Services) By Deployment Type (On premises, Cloud) By Organization Size (Large Enterprises, Small and Medium-sized Enterprises) By Vertical (Public Sector, IT and Telecom, Manufacturing, BFSI, Real Estate and Construction, Retail, Healthcare, Education, Others) By Region (North America, Europe, Asia Pacific, Middle East & Africa, Latin America)