target audience: TECH SUPPLIER Publication date: Sep 2023 - Document type: Market Share - Doc Document number: # US51236723
Worldwide Facility Management Applications Market Shares, 2022: Commercial Real Estate Issues Create Facility Management Software Vendor Opportunities
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Abstract
This IDC study provides market share data for the facility management applications market in 2022.
"Though the pandemic impact is receding, its ripple effects are still being felt, forcing facility and operation managers to navigate the new work world. This includes reevaluating leases and square footage needs as many prefer to work remotely. It also touches on growth of cloud solutions helping facility managers monitor multiple buildings on a campus from a central location. The cloud in turn is driving the need for cybersecurity," says Brian O'Rourke, research manager, Enterprise Asset Management and Smart Facilities at IDC. "However, the challenging environment is resulting in success for facility management software vendors, as 13.5% revenue growth in 2022 indicates. Trends that will continue to drive growth in the future include sustainability, IoT and smart buildings, and the continued ability of facility management software to help managers navigate the era of economic uncertainty that will likely last into 2024."