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Global facilities management software market stood at US$ 704.15 billion (Bn) in 2022 and is expected to grow at a CAGR of 8.1% during the forecast period (2022 – 2030).. The Major players profiled in this report include: Accruent, FMClarity, ARCHIBUS, Inc., OfficeSpace Service Inc., Planon, Agilent Technologies, Inc., ARC Document Solutions, LLC, AssetWorks, LLC and CBRE ServiceInsight amongst others..
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It Becomes easy to achieve supreme level of market insights and obtain knowhow of the best market opportunities into the specific markets with an outstanding Facilities Management Software Market report. The report lists down the company profiles of major market players and brands which explore their actions about product launches, product enhancements, joint ventures, mergers and acquisitions with respect to effect on the sales, import, export, revenue and CAGR values.
The finest market report puts light on various factors that have direct or indirect effect on the growth of business which includes historic data, present market trends, environment, technological innovation, upcoming technologies and the technical progress in this industry. This market research report identifies as well as analyses the emerging trends along with major driving factors, challenges and opportunities in the market for industry.
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This growth can be attributed to the ability of this software to assist organizations in overcoming issues related with space management, repair & maintenance work management while saving time and reducing overall costs along with improved efficiency. It helps organizations in keeping historical records to gain real time insights for future growth. This software can be delivered either as an integrated software or a standalone software. Integrated facilities management software is widely preferred among enterprises, as it is easy for implementation and is more cost-effective in comparison with standalone solutions. In addition, demand for integrated software is rapidly increasing, especially among small and medium enterprises to get control over space as well as repair & maintenance work management, which is anticipated to propel the market demand.
Facilities management software support enterprises in attaining economies of scale along with increased productivity. This further enables enterprises in managing a large-scale customer-base service and support. Another factor leading towards the growth of facilities management software market is owing to the frequent strategic alliances formed by key market participants with an aim to strengthen their regional as well as global footprints along with a streamlined focus on new product development. For instance, in 2017, CBRE ServiceInsight acquired Mainstream Software, Inc. (Mainstream), inorder to provide mobile and software-as-a-service (SaaS) technology solutions for facilities management operations. Similarly, in 2018, ARCHIBUS, Inc. partnered with Serraview, a global provider of space optimization solutions to offer a comprehensive suite of cloud-first, employee-centric space management software across real estate and infrastructure. However, unorganized service providers are delivering facility management services at lower costs, which is creating a negative impact on the companies offering premium services, which in turn is limiting the facilities management software market growth.
Key market participants in the global facilities management software market are leveraging opportunities with the growth of IoT (Internet of Things) as well as other smart technologies. These technologies assist enterprises in creating a more comfortable workplace for employees. In addition, small and medium enterprises are majorly favoring to be the predominant users of flexible workspaces and co-working services, which is surging the demand for facilities management software. However, large enterprises are majorly using these solutions for catering the applications associated with space management, repair & maintenance work management. In addition, the employment of facilities management software enables enterprises to increase their use of managed workspaces for swing space in order to accommodate a growing workforce and manage expenses during times of transition. In addition to adoption of flexible workspace arrangements, corporate real estate executives are prioritizing the ability to support employee flexibility, which is further expected to propel the global facilities management software market during the forecast period.
Global Facilities Management Software Market
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