Workspace management software solutions are used for managing and optimizing asset management, room scheduling, hoteling, and workplace utilization. These solutions help end-users optimize floor plans and analyze the performance of the workforce. Moreover, the use of mobile applications for workspace management has improved efficiency. The increased need for optimized space planning will drive the workspace management software growth.
Technavio estimates that the workspace management software market size will grow up to USD 1.37 billion, accelerating at a CAGR of 14% during 2020-2025. The workspace management software market research report has been segmented by deployment (cloud-based and on-premise) and geography (North America, Europe, APAC, South America, and MEA).
Unlock the comprehensive report summary describing the workspace management software market size and forecast along with the research methodology.
Five Forces Analysis
The concentration of new vendors that only focus on workspace management is moderate. However, several new and small vendors are expected to enter the market during the forecast period Due to the need for low capital investments. Hence, the threat of rivalry will be high during the forecast period.
Vendor Landscape
The competition in the workspace management software solutions market is high. This is attributed to factors such as the presence of several vendors. Moreover, various local vendors have entered the market, which has led to price wars and competitive pricing. During the forecast period, competition between the vendors is expected to intensify due to an expansion of product and service portfolios of vendors and technological innovations. Some of the key vendors operating in the market include AgilQuest Corp., Asure Software Inc., Condeco Group Ltd., FM Systems Group LLC, and Fortive Corp.
Market Segmentation
The workspace management software market has been segmented by deployment into in-cloud-based and on-premise. Among these, the cloud-based segment will have significant market share growth during the forecast period. Cloud-based software solutions enable organizations to operate in a quick and efficient manner. They are commonly provided as a service as a solution (SaaS). Organizations adopt cloud-based solutions to implement cost-effective and flexible IT solutions.
By geography, the market has been segmented into North America, Europe, APAC, South America, and the Middle East and Africa. North America will have the highest market growth during the forecast period. The US is the major contributor of revenue to the market in the region. Workspace management software solutions can be deployed to address such challenges associated with coworking, such as booking meeting rooms.
Key Drivers and Trends
The increased need for optimized space planning will drive the growth of the global workspace management software market during the forecast period. These solutions help organizations address the challenge of optimal use of the total floor space. For instance, Asure Software provides a meeting room booking system, which includes integrated tools to monitor and track occupancy and utilization data using on-site sensors.
The increased use of mobile applications for workspace management is a trend in the market. The widespread usage of smartphones and tablets has increased the use of smart devices to access the capabilities of workspace management software solutions. This enables businesses to easily access and exchange data with employees working remotely. They can also use mobile devices or touch panels situated outside conference rooms to identify and book rooms.
Apart from the increased use of mobile applications for workspace management, many other trends are also shaping the future of the market. View PDF Sample Report to learn about these trends
Key Data covered in the Workspace Management Software Market report
Precise market size estimation during the forecast period 2021-2025.
CAGR of the workspace management software market forecast during 2021-2025.
Market level data on units, average selling prices, and values of the workspace management software market share.
Prediction of the upcoming trends, drivers, and factors that challenge the growth of the workspace management software market.
Workspace management software industry growth across North America, Europe, APAC, South America, and MEA.
