What is CAFM Software Market?
CAFM is Computer Aided Facility Management software which enables facility managers to plan, execute, and monitor all activities involved in space and workplace management, asset management, reactive and planned preventative maintenance, operational facility services, room reservations, and any other customer service request. The software uses advanced databases, visual modelling tools, and geographic information services to give managers a comprehensive view of buildings and asset portfolios. It is used in various industries such as government, oil and gas, and healthcare.
The market study is being classified and major geographies with country level break-up.
Maintenance Connection (United States), eMaint (United States), Dude Solutions (United States), Hippo (United States), IBM (United States), ServiceChannel (United States), Fiix (Canada), UpKeep (United States), Siveco (Romania) and IFS (Italy) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are ManagerPlus (United States) and Axxerion (Netherlands).
The companies are now exploring the market by adopting mergers & acquisitions, expansions, investments, new developments in existing products and collaborations as their preferred strategies. The players are also exploring new geographies and industries through expansions and acquisitions so as to avail a competitive advantage through combined synergies. Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global CAFM Software market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global CAFM Software market by Type, Application and Region.
On the basis of geography, the market of CAFM Software has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Wide Range of Applications in End Use Industries
- Rising Demand for Integrated Facility Management
Market Trend
- Technological Advancements in Software
- Increasing Demand for Cloud Solutions
Restraints
- High Initial Costs of Installation of Software
Opportunities
- Higher Adoption in Developing Economies
Challenges
- Stiff Competition Among the Major Players
- Lack of Skilled Expertise
On 28th January 2020, IBM is adding AI capabilities to its TRIRIGA real estate and facilities management software, the company announced Tuesday. The new intelligent features are meant to help real estate and facility managers optimize office space and improve the workplace experience.
Key Target Audience
Government associations, Research organisations, software vendors and Others