Integrated Workplace Management System Market

Product launches and acquisitions were the 2 major strategies adopted by these players to achieve a strong foothold in the Integrated Workplace Management System Market

The Integrated Workplace Management System (IWMS) market is expected to grow from USD 2.3 billion in 2019 to USD 4.6 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 14.2% during the forecast period. The demand for IWMS is driven by the requirement for improved and efficient operational solutions, which is leading toward an increased sophistication of solutions and services.

The major players in the IWMS market include IBM (US), Oracle (US), Trimble(US), Planon (Netherlands), Accruent (US), ARCHIBUS (US), Service Works Global (UK), Causeway (UK), SAP (Germany), FSI (FM Solutions) (UK), FM:Systems (US), iOFFICE (US), Spacewell (Belgium), MRI Software (US), and Facilio (US). These players have adopted various growth strategies, including new product launches, partnerships, agreements, mergers and acquisitions, and business expansions. Product launches and acquisitions were the 2 major strategies adopted by these players to achieve a strong foothold in the IWMS market.

IBM (US) is one of the prominent players in the IWMS market. IBM TRIRIGA delivers a robust suite of IWMS application on a single system to optimize the life cycle of facilities. TRIRIGA helps organizations increase the operational, financial, and environmental performance of real estate portfolios.

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The company’s major operations consist of 5 business segments, namely, cognitive solutions, global business services, technology services and cloud platforms, systems, and global financing. Furthermore, the company specializes in cloud, mobile, cognitive, security, research, Watson analytics, consulting, commerce, experience design, Internet of Things (IoT), technology support, industry solutions, systems services, Information Technology (IT) infrastructure, resiliency services, and finance. Moreover, it has plans to invest in new businesses, products, services and technologies, systems, facilities, infrastructures, and acquisitions. For instance, in 2019, IBM collaborated with Sund & Bælt, which owns and operates some of the largest infrastructures in the world, to assist in IBM’s development of an Artificial Intelligence (AI)-powered IoT solution which is designed to help prolong the lifespan of aging bridges, tunnels, highways, and railways.

Accruent (US) is another innovative company in the IWMS market. The company is a leading provider of the physical resource management software that helps organizations to achieve superior performance by transforming how they manage their physical resources. The real estate, facilities, and asset management solution, an integrated cloud-based framework and reporting platform, enables organizations to optimize all stages of real estate, facilities and asset management, from capital planning through IoT-based monitoring and control.

Related Reports:

Integrated Workplace Management System Market by Solution, Services (Professional and Managed), Deployment Type (On-premise and Cloud), Vertical (Public Sector, Manufacturing, BFSI, Retail, and Real Estate), and Region - Global Forecast to 2024

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Report Code
TC 4270
RI Published ON
7/5/2019
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