Integrated Workplace Management Systems: A Comprehensive Market Share Overview

 

In the past, the majority of small businesses primarily served their products and services locally or within a specific country. However, as these organizations expanded, they began catering to multiple geographical locations. This expansion posed challenges for organizations in terms of managing their offerings through a single office and facility. With the onset of globalization, organizations started establishing their businesses on an international scale, embracing digitalization and various innovative technologies.

Quadrant Knowledge Solutions defines an Integrated Workplace Management System (IWMS) as a software platform that centralizes organizational assets and databases to create a unified platform for real estate managers and facilities executives. This platform encompasses real estate, leases, facilities, spaces, projects, and maintenance cycles, promoting sustainability and facility management across enterprises. IWMS solutions encourage active participation from facility management personnel to workstation employees, enabling real-time responses and strategic decision-making.

To address the growing complexities, organizations started implementing Integrated Workplace Management Systems (IWMS) software. An IWMS is a software solution designed to assist organizations in managing their entire portfolio, both current assets and future decisions regarding portfolio expansion, renovation, and replacement. This technology enables management professionals, real estate managers, IT teams, and finance teams to concentrate on critical areas and make strategic decisions more effectively.

IWMS solutions also offer features such as Computer-Aided Design (CAD) to provide visual representations of buildings and assets, aiding in floor and building management. They assist organizations in diversifying and expanding their operations, whether through renting, buying, or leasing properties. Additionally, IWMS enables organizations to make informed decisions through scenario testing and data-driven analysis, considering factors like opportunity cost, investment requirements, return on investment, depreciation value, and other relevant information.

With the integration of automation and AI, IWMS systems provide smart features like Building Information Modeling (BIM) for immersive floor plans, space utilization reporting for insights into employee space accommodation, and analytics for forecasting and offering recommendations. IWMS solutions also provide real-time insights into project statuses and facilitate accounting according to both local and global standards.

IWMS solutions come in various deployment options, including cloud-based single and multi-tenant options, vendor-hosted single and multi-tenant solutions, on-premises solutions, and hybrid configurations. Currently, multi-tenant Software-as-a-Service (SaaS) deployment is particularly popular among end-users.

The industrial application of IWMS is expected to experience significant growth due to the increased adoption of AI, machine learning, sensors, and IoT technologies, which enhance enterprise asset management. The future of IWMS holds potential for integrating multiple standalone systems through common APIs to provide comprehensive capabilities across various service needs.

Download the sample report of Market Share: Integrated Workplace Management Systems.

Some notable trends in the integrated workplace management systems industry include:

Shift in Product Offerings Post-Pandemic: The COVID-19 pandemic has prompted organizations to embrace new working models, such as remote-first, office-occasional, and office-first. IWMS vendors are adapting to these changes by offering functionalities tailored to employees' working models and focusing on solutions that maintain health and safety standards in line with regional and industrial guidelines.

Customization of IWMS Solutions: Vendors are developing and implementing strategies to ensure safe working environments during and after the pandemic. These strategies include regular health check-ups, thermal screening, proper ventilation, capacity restrictions, and thorough cleaning protocols for shared spaces.

Integration of IWMS with IoT: The integration of IWMS with IoT technology is gaining attention, particularly for managing internal environmental parameters like lighting, heating, cooling, security, and environmental monitoring.

Use of VR for Digital Collaboration: There is growing demand for immersive digital experiences in IWMS, combining physical and digital realms with 3D imagery to facilitate virtual meetings, holographic presentations, and visualization of facility-related equipment and components.

The study aims to address key questions, including the growth prospects of the IWMS market, factors influencing market acceleration and restraint, major end-user industries for IWMS solutions, promising growth regions, preferred customer segments, deployment options, and an assessment of various vendors in the IWMS market. Vendors covered in this study include Accruent, FM Systems, Gensler, IBM, iOFFICE + SpaceIQ, MRI, Nuvolo, Oracle, Planon, Rapal, Service Works Global, Tango Analytics, Vlogic, and zLink.

About Us: Quadrant Knowledge Solutions is a global advisory and consulting firm focused on helping clients in achieving business transformation goals with Strategic Business, and Growth Advisory Services. At Quadrant Knowledge Solutions, our vision is to become an integral part of our client’s business as a strategic knowledge partner.

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Contact: ajinkya@quadrant-solutions.com