LONDON--(BUSINESS WIRE)--The global workspace management software market is expected to grow at a CAGR of close to 15% during the period 2018-2022, according to a new market research study by Technavio.
The report presents a comprehensive research of the global workspace management software market by product, including cloud-based and on-premise. The report also determines the geographic breakdown of the market in terms of detailed analysis and impact, which includes key geographies such as APAC, the Americas, and EMEA.
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Market driver: increased need for optimized space planning
A major challenge faced by organizations while finalizing their floor planning strategy is the optimum use of the total floor space. Workspace management software solutions aids in providing the end-users with optimized floor plan and analyzing the performance of the workforce in different floor planning configurations. The cost associated with maintenance and relocating are major challenges for organizations. Optimum utilization of space can provide significant cost savings for end-users.
According to a senior analyst at Technavio for IT security research, “Workplace management software solutions also facilitates in maintaining energy efficient parameters. These solutions measure, monitor, and benchmark the energy performance of workspaces. To ensure optimum energy management while designing the workspace, projects such as lighting and heating, ventilation, and air conditioning are also included. Therefore, workspace management software solutions are being widely used to optimize space planning to ensure better space utilization.”
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Market trend: changing work culture
Players in the market that offer workplace management software solutions are focusing on providing solutions after considering the changing work culture, globally. Some major changes in work culture include:
- The focus has shifted from providing a spacious and comfortable work environment to providing a more active, social, and flexible work environment, owing to the increased support from technology to make workspaces comfortable.
- Ergonomics used to be a consideration for workspaces, but now ergonomics is considered as an outcome of a comfortable workspace.
- Nowadays, technology has been inculcated into the daily life of employees and not as a tool to accomplish work easily.
- With the advent of context-rich communications and micro-messaging, the use of traditional applications such as E-mail has reduced.
Market challenge: the high cost of implementation
Several factors such as the number of users or employees and area and volume of space manages are considered while implementing the workspace management software solutions. Apart from these costs, the cost of deployment comprises of the cost of services such as professional services, implementation, customization, data management, and upgrades. It is difficult to calculate ROI after the implementation of workspace management software solutions. The time required to calculate ROI from workspace management software solutions depends on the player and the size of the end-user.
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