Facility management is defined as an organizational function that is integrated with infrastructure, people and organization to enhance the quality of life of people working at a given facility and improve the productivity of the core business that is often associated with technology. According to a study, the role of internet of things (IoT) is anticipated to increase in facility management. About 40% to 60% of the total value of IoT applications relies on interoperability. Another study highlighted that 87% of the corporate sector are expected to invest in facilities and/or real estate management technology with the intention of helping to ensure the health and safety of employees as well as visitors. 59% of such people expected to increase investments in workplace technologies so that the efficiency of their facilities operations could be improved. One of the leading global flexible space providers, WeWork is collaborating with the global real estate services firm, Cushman & Wakefield, to garner an exclusive strategic partnership focusing on marketing jointly developed solutions on the management experience platform of WeWork.
The rising importance of integrated facility management to attain economies of scale is driving the growth of global facilities management software market. Many strategic mergers and acquisitions by industry players are responsible for this market driving factor. Automated systems can reduce costs regarding space and manpower. Increasing adoption of smart systems is also boosting the growth and creating more opportunities for the growth of global facilities management software market.
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Rapid technological advancements are smoothening the processes of infrastructure enhancement initiatives that cover construction and development of public facilities such as the construction of airports, ports, and railways. The integration of artificial intelligence (AI), machine learning (ML), and robotics in facilities management solutions is anticipated to accelerate the growth of global facilities management software market over the period of next eight years. Automation features and wireless protocols are changing the ways to access workplaces. Near field communication (NFC) technologies are being combined with IoT networks to create an ‘all-access’ pass for people working at a facility. Today, more companies are engaging with facilities management partners who provide sustainable equipment and solutions that would help companies to reduce carbon footprint while managing facilities, thus leading to green buildings. Through IoT, managing facilities via smart devices is becoming easier day by day. Drones are also being increasingly used for inspection of facilities.
As the efforts to prevent the China-originated coronavirus infection lead to lockdowns by governments all over the world, many business operations got interrupted and those which continued to run had to introduce various sanitation protocols such as disinfected high-touch areas in building, carrying out proper hygienic methods when handling cleaning equipment, and proper hand washing techniques. The facility management sector underwent a transformation due to COVID-19 pandemic and measures had to be taken for digital transformation in commercial buildings. Measures included employees wearing masks, only vaccinated employees being allowed to come to office, and regular temperature checks.
Key Findings of the Report:
- The global facilities management software market was valued at US$ 35270.47 Mn in 2020 and is anticipated to reach US$ 76776.64 Mn by 2029 growing at a CAGR of 9.05% during the forecast period (2021 – 2029)
- In 2020, on-premise solutions category occupied larger share in global facilities management software market because majority organizations undertake operations to manage a facility through on-premise deployment. However, during the forecast period, cloud solutions category is estimated to experience faster growth due to ease of storage, storage saving, and easy remote access.
- The integrated application segment held the largest market share in 2020. Customizing varied modules of facilities management into a single software application was observed as a major trend among end users.
- Large enterprises segment accounted for the largest market share in the global facilities management software market in 2020. Factors such as sizable employee strength, wide size of facilities and economies of scale have attributed towards the segment’s growth in the global market
- In 2020, North America dominated the global facilities management software market. Organizations in this region have been early adopters of facility management solutions and services due to availability of adequate and technologically advanced infrastructure which ensures efficient deployment of these solutions. Furthermore, the presence of major market players is also boosting the region’s share in the global market.
- Some of the major players operating in the global facilities management software market are Accruent, ARCHIBUS, Inc, EZOfficeInventory, Fluke Corporation, FM:Systems, FMX, Hippo CMMS, IBM Corporation, Infor, Limble CMMS, MaintainX, Maintenance Experts, Maxpanda CMMS, NetFacilities, Oracle, Planon, Quick Base, SAP SE, ServiceChannel, Sine Group Pty Ltd, Sutherland, UpKeep Maintenance Management, and Zuuse, amongst other market participants.
Global Facilities Management Software Market:
- By Offering
- Solutions
- Cloud
- On-Premise
- Services
- Solutions
- By Application
- Integrated
- Standalone
- Sustainability and Environment Management
- Workplace and Move Management
- Maintenance Management
- Security Management
- Asset, Property and Real Estate Management
- Others
- By Organization Size
- Small and Medium Enterprises
- Large Enterprises
- By Industry
- Banking, Financial Services and Insurance
- Education and Training
- Information Technology and Telecommunication
- Healthcare and Pharmaceutical
- Government
- Construction and Real-Estate
- Legal
- Transportation and Logistics
- Manufacturing and Automotive
- Media and Entertainment
- Retail
- Others
- By Region
- North America
- U.S.
- Canada
- Mexico
- Rest of North America
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Nordic Countries
- Denmark
- Finland
- Iceland
- Sweden
- Norway
- Benelux Union
- Belgium
- The Netherlands
- Luxembourg
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Southeast Asia
- Indonesia
- Thailand
- Malaysia
- Singapore
- Rest of Southeast Asia
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
- North America
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