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Oracle and Archibus Have Adopted These Strategies To Expand Their Product Portfolio in Facility Management Market
Facility management solutions provide a cost-effective means for managing space and real estate, workplace and related resources, strategic planning and management of projects, and other facilities of organizations. The facility management market is projected to have an increasing growth owing to the increasing penetration of cloud and mobile technologies in various industry sectors. The global facility management market is projected to be USD 56.67 Billion by 2021, and is expected to grow at a Compound Annual Growth Rate (CAGR) of 14.42% during the forecast period (2016–2021).
This business sector includes an expansive number of vendors providing facility management products, for instance, International Business Machines (IBM) Corporation (U.S.), Oracle Corporation (U.S.), SAP SE (Germany), Archibus, Inc. (U.S.), Trimble Navigation, Ltd. (U.S.), CA Technologies (U.S.), Accruent LLC. (U.S.), Planon Corporation (Netherlands), FM Systems, Inc. (U.S.), and iOffice Corporation (U.S.). Players in this business sector have embraced different strategies to extend their worldwide presence and expand their market share. New product development and partnership/collaboration are some of the significant strategies embraced by market players to accomplish development in the facility management market.
Companies such as Oracle and Archibus have adopted these strategies to expand their product portfolio. Oracle is one of the leading providers in the facility management market. The company caters to more than 400,000 clients in more than 145 countries through its innovative products and solutions. The company’s long-term strategy is focused towards organic growth and it is expected to develop new products and solutions to attract a larger customer base worldwide. Launch of advanced comprehensive facility management solutions, Primavera, which provides project portfolio management capabilities to public sector, financial, and engineering and construction industries, further adds to the fact that Oracle would be focused on organic growth strategy for cementing its market leader position in the facility management market.
Archibus is another major provider of facility management solutions. The company offers a broad range of products related to facility management to cater to various industries across the world. The company focuses on both organic and inorganic growth to tap into the facility management market. Archibus has launched updated version of its asset management solutions to provide cost-effective and comprehensive solutions to its customers. Moreover, Archibus has also partnered with Canada’s Calgary Board of education to provide Integrated Workplace Management Solutions (IWMS) to 225 schools across Canada.
Facility Management Market by Solution (Asset & Inventory, Workplace & Relocation, Strategic Planning & Project, Sustainability, Real Estate & Lease, Maintenance), Service, Deployment Type, Business Size, Vertical, and Region - Global Forecast to 2021
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