Global Facilities Management Software Market is Expected to Grow at CAGR 8.1% by 2027 Owing to the Increasing Need For Reduced Operational Costs, Says Absolute Markets Insights

PUNE, India, Dec. 11, 2019 /PRNewswire/ -- Facilities management solutions help in achieving productivity, safety, comfort, convenience, and cost-effective operations through seamless integration of all real-time functionalities across enterprises. Facilities management software enables organizations in managing functions, such as repair & maintenance work management, space management by means of a web-based portal. Economic pressure from regulatory requirements along with increased market competition are some of the factors contributing in the growth of facilities management software market. In addition, technological enhancements across these solutions by the global Facilities Management Software Market participants is another factor contributing in the growth of market. For instance, in 2019, Pointfuse, a software providing company launched Building Information Modeling (BIM) for facilities management to cater to the applications across construction and architectural sector. The BIM solution automates classification and identification of objects for facilities management applications that can use data from mobile mapping systems, such as Leica BLK2GO. Thus, such factors are responsible for the growing adoption of facilities management software across various end user industries.

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Another advantage is that this software can be designed and customized according to the need of customers in order to create more collaborative and seamless industry environment for customers, suppliers, partners, and employees. In addition, the Facilities Management Software Market serves a various industries, including healthcare, retail, manufacturing, construction and real estate, banking, financial services, and insurance (BFSI), government and public administration, and education, amongst others. Furthermore, it enables service providers to utilize available infrastructure effectively and efficiently with reduced operational costs and development cost, which further expected to drive the implementation of facilities management software. These service providers are also collaborating with other providers' inorder to offer integrated facility management software and also to expand their regional presence. For instance, in 2019, Planon, a provider of integrated workplace management system (IWMS) solutions formed partnership with Avector, an organization that specializes in real estate technology (PropTech). Through this partnership, Planon is planning to strategically expand its reach in Scandinavia, Northern Europe. Therefore, strategic alliances formed by key Facilities Management Software Market participants is contributing in the growth of global facilities management software market.

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The detailed research study provides qualitative and quantitative analysis of the global Facilities Management Software Market. The Facilities Management Software Market has been analyzed from demand as well as supply side. The demand side analysis covers market revenue across regions and further across all the major countries. The supply side analysis covers the major market players and their regional and global presence and strategies. The geographical analysis done emphasizes on each of the major countries across North America, Europe, Asia Pacific, Middle East & Africa and Latin America.          

Key Findings of the Report:

• In terms of revenue, the global facilities management software market is expected to reach US$ 1401.46 Billion by 2027 owing to rising importance of integrated facility management to attain economies of scale combined with strategic mergers and acquisitions by industry players.
• Integrated softwares are widely preferred as all-in-one cost effective solution and also viewed as easy for implementation. With highly transforming application industries the demand for integrated software is anticipated to increase during forecast period.
• On the basis of component, services segment accounted for more than 53% of the Facilities Management Software Market share in 2018 and is expected to grow at a CAGR of 8.7% over the forecast period. 
• Some of the prominent players operating in the global facilities management software market include Accruent, FMClarity, ARCHIBUS, Inc., OfficeSpace Service Inc., Planon, amongst others.

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Global Facilities Management Software Market

• By Type
• Integrated
• Standalone
• By Deployment Type
• Cloud-based
• On-Premise
• By Organization Size
• Small and Medium Enterprises
• Large Enterprises
• By Component
• Solution
• Integrated Workplace Management System
• Building Information Modeling
• Facility Operations and Security Management
• Lease Accounting and Real Estate Management
• Others
• Services
• Consulting
• Auditing and Quality Assessment
• Support and Maintenance
• Service Level Agreement Management
• By Vertical
• Healthcare
• Retail
• Manufacturing
• Construction and Real Estate
• Banking, Financial Services, and Insurance
• Government and Public Administration
• Education
• 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

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About Us:

Absolute Markets Insights assists in providing accurate and latest trends related to consumer demand, consumer behavior, sales, and growth opportunities, for the better understanding of the market, thus helping in product designing, featuring, and demanding forecasts. Our experts provide you the end-products that can provide transparency, actionable data, cross-channel deployment program, performance, accurate testing capabilities and the ability to promote ongoing optimization.

From the in-depth analysis and segregation, we serve our clients to fulfill their immediate as well as ongoing research requirements. Minute analysis impact large decisions and thereby the source of business intelligence (BI) plays an important role, which keeps us upgraded with current and upcoming market scenarios.

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SOURCE Absolute Markets Insights

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