Enjoy complimentary customisation on priority with our Enterprise License!
The workspace management software market is estimated to grow by USD 2.29 billion at a CAGR of 17.5% between 2022 and 2027. The increased need for optimized space planning is driven by the desire for more efficient use of office space and resources. The growing interest in integrating IoT with workspace management is fueled by the potential for IoT technologies to improve productivity, comfort, and energy efficiency in the workplace. The increasing number of startups and the adoption of co-working are driving demand for flexible and cost-effective workspace solutions, further fueling growth in the market.
To learn more about this report, Download Report Sample
This report extensively covers market segmentation by deployment (cloud-based and on-premise), application (IT and telecom, retail and e-commerce, healthcare, and others), and geography (North America, Europe, APAC, South America, and the Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
The market share growth by the cloud-based segment will be significant during the forecast period. The segment is growing rapidly, and its market share will increase during the forecast period. This will primarily be due to the focus of organizations on reducing their IT infrastructure cost and improving the flexibility, agility, and efficiency of their marketing operations. The rapid change in the marketing landscape and the proliferation of content and channels have encouraged marketers to adopt solutions that are scalable and consistent and improve the control of quality. Cloud-based workspace management software solutions are commonly provided under the service-as-a-solution (SaaS) model. SaaS workspace management software solutions in the cloud are usually installed and hosted at the provider site, and the organization pays a subscription or service fee to access and use the software solution.
Get a glance at the market contribution of various segments Request a PDF Sample
The cloud-based segment showed a gradual increase in market share with USD 744.68 million in 2017 and will continue to grow by 2021. Cloud-based solutions are deployed over the public, private, and hybrid cloud computing models. Cloud computing solutions are being adopted by organizations to implement cost-effective and flexible IT solutions to store digital content and media files. Some benefits of hosted solutions include predictable expenses, no need for a powerful local server, no maintenance fees, low IT personnel-related costs, and the inclusion of free upgrades in subscription or support fees.
For more insights on the market share of various regions Request PDF Sample now!
North America is projected to contribute 35% of the market's growth by 2027. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
In 2022, North America dominated the global market. The US was the major contributor to revenue in the market in the region. Several prominent vendors, such as Azure Software, are headquartered in the US. These solutions integrate booking, billing, payments, and plan management. Hence, they could make the complex task of managing co-working easier, which will increase the demand for these solutions during the forecast period.
The market is evolving rapidly with the rise of coworking spaces and the increasing adoption of these strategies. Businesses are leveraging research and consulting services to optimize their workspace utilization and enhance the performance of the workforce. The market is witnessing a shift towards IoT-enabled software, with companies like OfficeRND offering innovative solutions. The software, available in both cloud-based and on-premise models, caters to organizations of all sizes, from SMEs to large enterprises. Key features include membership and booking management, asset management, and room scheduling. As businesses focus on improving workplace efficiency, the demand for these software is expected to grow, driven by factors such as consumer behavior and the adoption of emerging technologies. The competitive landscape is intense, with companies vying to enhance their online presence and offer comprehensive solutions for various industries including healthcare, telecommunications, and government institutions. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The increased need for optimized space planning is notably driving market growth. These solutions play a pivotal role in optimizing floor plans and workforce performance analysis across various industries. By offering insights into space utilization, these solutions enable significant cost savings and foster energy efficiency maintenance within organizations. Through objective data analysis, organizations gain visibility into space utilization trends across departments and locations, enhancing decision-making processes.
Cloud-based booking systems simplify meeting room management, empowering employees to reserve and manage meeting spaces seamlessly. With the rise of IoT-enabled software and emerging technologies, workspace management solutions are evolving to meet the dynamic needs of modern workplaces. From membership and booking management to asset management, these solutions cater to diverse organizational requirements, driving their adoption among SMEs and large enterprises alike. As the demand for efficient workspace utilization and streamlined operations grows, the market is poised for significant growth in the forecast period.
The increase in the number of strategic alliances is a key trend influencing market growth. The number of strategic alliances, such as partnerships and M&A, is increasing in the global market, as consolidation can help in the growth of the market.
Through strategic partnerships, organizations can expand their product portfolios and market reach. For instance, in February 2020, Kronos Inc. entered into a definitive agreement with The Ultimate Software Group Inc., which is the world's largest cloud company. The merger offers enhanced scale and a strong, fast-growing human capital management (HCM) marketplace. These factors will support the growth of the market during the forecast period.
The reluctance to adopt workspace management software may impede the market growth. Some of the major end-users of these solutions are facility management providers, integration service providers, workplace solution providers, real estate solution providers, national regulatory authorities, energy management solution providers, government organizations, telecommunication companies, manufacturing industries, BFSI companies, healthcare facilities, construction companies, retail organizations, and educational institutions.
These solutions enable optimal space utilization and reduce expenses. Though workspace management software solutions have several applications and provide many advantages, their adoption is limited. According to numerous SMEs, these solutions are meant for large organizations that generate significant revenues and have a large workforce. Hence, the adoption of workspace management software solutions is limited. These factors will pose a challenge to the growth of the market during the forecast period.
The report includes the adoption lifecycle of the market, from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product launches, to enhance their presence in the market.
AgilQuest Corp - The company offers workspace management software for workspace scheduling and meeting room booking.
The report also includes detailed analyses of the competitive landscape of the market and information about 20 market vendors, including:
A qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The report forecasts market growth by revenue at global, regional, and country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. The market has been segmented by deployment, application, and region.
The market is driven by the need for facilities management and optimizing space allocation. Companies like ManagerPlus, an asset management SaaS provider, offer solutions for production value and employee health. The market addresses import and export statistics while focusing on communication & collaboration. Strategic measures include facility expansions and contract retracing. Global manufacturers use these tools to manage operational status and capacity. Despite complicated data, these solutions provide insights into gross profits and financial position in simple language. The market is influenced by external factors and internal factors, offering decision-makers insights to overcome limitations and address threats while leveraging market trends and development trends for economic impact.
Furthermore, the market is evolving with the rise of online content and cloud-based deployment. It addresses geopolitical tensions and economic sanctions through social distance setup in meeting rooms. Understanding purchasing behaviors is crucial for providers offering use cases for various application areas and enterprise sizes. The market offers SWOT analysis and AI models for marketing processes and growth potential assessment. It tracks sales value and consumption value to optimize workplace utilization in the IT industry. New products and deployments cater to changing needs, driving market expansion.
The market is also driven by the digitization of workspaces and the need for integrated solutions for workspace management. Cloud-based deployment offers flexibility and cost-effectiveness. However, challenges include the lack of awareness and understanding of deployment types. Solutions cater to SMEs with features like contract management, customer relationship management, and access control. The market emphasizes reporting and analytics for optimizing operational costs. It also addresses security concerns in independent and co-working workspaces, supporting the trend of remote work through digital platforms and E-mail confirmation.
Workspace Management Software Market Scope |
|
Report Coverage |
Details |
Page number |
173 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 17.5% |
Market growth 2023-2027 |
USD 2.29 billion |
Market structure |
Fragmented |
YoY growth (%) |
16.5 |
Regional analysis |
North America, Europe, APAC, South America, and the Middle East and Africa |
Performing market contribution |
North America at 35% |
Key countries |
US, China, Japan, Germany, and UK |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
AgilQuest Corp., AppiXoft, Asure Software Inc., Citrix Systems Inc., Condeco Group Ltd., FM Systems Group LLC, Fortive Corp., iOFFICE LP, Ivanti Software Inc., Matrix42 AG, MRI Software LLC, Nemetschek SE, NFS Technology Group, Planon Shared Services BV, Ricoh Co. Ltd., Space HoldCo Inc., Vega Technology Ltd., Videlio, Yardi Systems Inc., and International Business Machines Corp. |
Market dynamics |
Parent market analysis, Market Forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Deployment
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Get lifetime access to our
Technavio Insights
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.