Digitization of Business Architectures Worldwide to Positively Influence the Computer-aided Facility Management Market

Computer-aided Facility Management market

The global computer-aided facility management market size is slated to experience a period of prolific expansion owing to the wide range of benefits offered by CAFM technologies to businesses, share Fortune Business Insights™ in its report, titled “Computer-aided Facility Management market size, share & industry analysis, By Component (Solution, Services), By Deployment (On-Premise, Cloud), By Industry (Manufacturing, Retail, Education, Government, Healthcare, Others (Hospitality, Chemical, etc.)) and regional forecast 2023-2030”. 

Computer-aided facility management (CAFM) tools are crafted to enable the planning and execution of every aspect of any construction. Driven by data collection and analysis, CAFM software utilizes information technology and computer-aided design (CAD) solutions to improve decision-making quality in organizations. Further, CAFM systems play an important role in the maintenance of assets and ensuring that they perform at their peak capacity.

Salient Features of the Report:

  • Unmatched research on market drivers, trends, restraints, and opportunities;
  • In-depth diagnosis of the key market players and their growth strategies;
  • Exhaustive examination of the various market segments; and
  • Actionable insights into the regional dynamics influencing the market.

Driving Factor

COVID-19 Pandemic to Generate Multiple Opportunities in the Market

The computer-aided facility management market growth is likely to benefit from the on-going COVID-19 pandemic as governments have imposed strict lockdown and social distancing regulations to control the spread of the virus. As a result, a huge chunk of workers around the globe have been working from home for an extended period of time, which has necessitated the deployment of virtual management tools. Computer-aided facility management systems provide essential administrative tools to managers to coordinate with employees, organizational resources, and office workspaces. 

Regional Insights

Speedy Uptake of Smart Business Solutions to Foster Market Growth in North America

Geographically, North America is expected to have a commanding hold on the computer-aided facility management market share in the upcoming years, primarily due to the eager adoption of automated business technologies by companies in the region. This factor is also bolstered by the region’s robust IT industry and the strong presence of global technological giants. 

In Asia Pacific, increasing penetration of CAFM companies will be a leading market driver. In addition, rising demand for outsourcing of business operations and digitization of business processes will further stoke the adoption of virtual management technologies in the region.

Competitive Landscape

Acquisitions & Partnerships to be the Dominant Strategies for Key Players

With a view to strengthen their position in the CAFM domain, key players in this market are making strategic acquisitions and entering into collaborations and actively engaging with other participants. These two complementary strategies are enabling companies to diversify their portfolios, expand market footprint, and bolster business prospects.

Industry Developments:

  • November 2020: Schneider Electric, a leading energy management company, announced that it will be purchasing a minority stake in Planon Beheer, a veteran in integrated workplace management systems. The investment is in line with Schneider’s goal to widen its end-to-end software product range and help digital transformation of businesses.
  • May 2019: Vetasi partnered with ServicePower and Cognito iQ to develop and deliver a highly advanced CAFM solution for facilities management companies. The companies announced their collaboration to create this off-the-shelf solution at the Facilities Show held in London.

List of Key Players Profiled in the Computer-aided Facility Management Market Report:

  • FMX 
  • MPulse Software, Inc. 
  • Hippo CMMS 
  • Vetasi Ltd 
  • Fortive Corporation 
  • IBM Corporation 
  • MicroMain Corporation 
  • CMMS Data Group 
  • ServiceChannel 
  • eMaint Enterprises 
  • Dude Solutions, Inc.

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