The Integrated Workplace Management System (IWMS) market size is expected to grow from USD 2.6 billion in 2020 to USD 4.6 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 12.5% during the forecast period. The demand for IWMS is driven by the requirement for improved and efficient operational solutions, which is leading towards an increased sophistication of solutions and services.
The major players in the IWMS market are IBM (United States [US]), Oracle (US), Trimble (US), Planon (Netherlands), Accruent (US), Archibus (US), Service Works Global (United Kingdom [UK]), Causeway (UK), SAP (Germany), FSI (FM Solutions) (UK), FM: Systems (US), iOFFICE (US), Spacewell (Belgium), MRI Software (US), Facilio (US), zLink (US), Nuvolo (US), VLogic Systems (US), Rapal (Finland), AssetWorks (US), Smartsheet (US), SIERRA (India), OfficeSpace (US), IDASA SISTEMAS (Spain), Collectiveview (US), Budgetrac (US), Tango (US), QuickFMS (US), and ServiceChannel (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 two major strategies adopted by these players to achieve a strong foothold in the IWMS market.
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IBM (US) is one of the prominent players in the IWMS market. IBM TRIRIGA delivers a robust suite of IWMS applications 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. Moreover, it has plans to invest in new businesses, products, services and technologies, systems, facilities, infrastructures, and acquisitions. For instance, in June 2020, IBM introduced Watson Works, a curated set of products that incorporates IBM Watson AI models and applications to address post-COVID-19 workplace requirements, such as prioritizing employee health, facilities management, workplace re-entry, space allocation, contract retracing, and communication and collaboration.
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.
Integrated Workplace Management System (IWMS) Market by Offering (Solution and Services (Professional & Managed)), Deployment Type, Organization Size, Vertical (Real Estate & Construction, Healthcare, Retail, Education), and Region - Global forecast to 2025
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