According to the research report titled ‘Global Facilities Management Software Market Size study, by Component (Solution, Services) by Deployment Type (On-Premise, Cloud) by Vertical (healthcare, retail, manufacturing, construction and real estate, BFSI, government, others) and Regional Forecasts 2020-2026’, available with Market Study Report, global facilities management software market is expected to witness exponential growth during 2020-2026.
 

Growing focus towards reducing operational costs required to maintain and manage the facilities among the facility managers is driving the growth of global facility management software market. Surging adoption of these software across mid-sized companies for integrated facility management which helps achieve economies of scale is contributing to the market growth. Furthermore, increasing popularity of software as a service deployment model and shifting focus of the enterprises towards mobility and virtual workplace are augmenting global facilities management software market outlook. Notably, facilities management software helps the organizations to manage the premises efficiently along with cost savings. The software keeps a tab on maintenance and repair works while periodically checking the requirements of facility in real time.

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On the downside, lack of managerial awareness and dependence on in-house facility management are expected to restrain the market growth over the forecast period. Despite that, implementation of digital twin technology and integration of BIM in facility solutions creates lucrative opportunities for worldwide facilities management software market growth during 2020-2026.

Based on component type, the market is divided into services and solution. With regards to the deployment model, the market is segmented into cloud and on-premise. While as per industry vertical, the market is bifurcated into healthcare, manufacturing, retail, construction & real estate, government, BFSI, and others.
 

Speaking of regional landscape, global facilities management software industry is bifurcated into Europe, Latin America, Asia Pacific, North America, and rest of the world. North America market is poised to gain substantial traction over the forecast period, due to early adoption of IoT technology and presence of major players in the region.
 

Whereas, Asia-Pacific facilities management software market is expected to witness strong growth rate during 2020-2026, owing to rising disposable income, increasing organization infrastructure, and growing number of mid-size enterprises in the region.
 

Leading players operating in global facilities management software industry include CA Technologies, International Business Machines Corporation (IBM), Planon Corporation, Archibus Inc., Oracle Corporation, SAP SE, Trimble Inc., Accruent LLC, FM:Systems Group LLC, and iOFFICE Inc.