According to the computer aided facility management (CAFM) market analysis by Future Market Insights (FMI), the demand registered in the market will grow at a CAGR of 7.1% from 2022-2032.
The report also forecasts that the market will surpass a valuation of ~US$ 1,047.5 Mn by 2022 and US$ 2,081.4 Mn by 2032. Technologies such as Internet of Things (IoT), cloud-computing, automation and others are responsible for the growth of CAFM software as these technologies are deployed by facilities management vendors to help enterprises work in the data-driven environment.
Big data is transforming maintenance and operation regimes across the facilities management industry. The technology allows facilities management to gain meaningful insights from a vast amount of heterogeneous data gathered from a variety of sources. Integration of sensors with IoT provides insights for reduction of real estate cost and enhancing the overall employee experience.
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Further, IoT sensors play a key role in identifying spaces used on regular bases for adjusting cleaning schedule while saving time and cost. This enables cleaner, safer workplaces with smarter, more responsive maintenance. Thus, adoption of technologies such as big data and IoT is fueling the growth.
Key Takeaways: Computer Aided Facility Management (CAFM) Market
- By solution, computer aided facility management software segment is anticipated to account for the leading share 71.2% in the global demand for computer aided facility management during 2032.
- By enterprise size, the adoption of computer aided facility managements in small & medium enterprises is anticipated to increase at a CAGR of 8.6% between 2022 & 2032.
- By industry, the adoption of computer aided facility management in IT & Telecom is anticipated to grow at a CAGR of 9.9% between 2022 & 2032, while manufacturing segment is dominating the market share during the current year 2022.
- North America is expected to lead the market followed by East Asia in 2022. South Asia & Pacific is anticipated to emerge as the fastest growing region between 2022 & 2032.
- Japan computer aided facility management (CAFM) market is expected to progress at a CAGR of 6.0% through 2032.
- In GCC Countries, sales of computer aided facility management (CAFM) solutions are expected to increase at a CAGR of 9.0% over the forecast period.
Increasing Demand for Integrated Facilities Management to Drive CAFM Market
Integrated facilities management is the consolidation of entire facility-related solutions and processes under single unified management group with a single point of contact. It is a proven method for streamlining of operations and task management in large enterprises. It is easy to observe why the facilities management market has been on the rise in terms of technology owing to rising surge for space management, smart infrastructure and cloud based solutions.
With growing importance for enhanced collaboration, improved human resource engagement, accurate reporting and disaster planning the insistence for computer aided facilities management software which serves the consolidated benefits of integrated facilities is predicted to rise, creating an attractive environment for CAFM software market players.
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Growing Demand for Smart Facilities Propelling CAFM Market Growth
The CAFM market has seen considerable growth in the recent years owing to the insistence for smart facilities for enhanced employee experience at the workplace. Controlling work environment variables is simply one aspect of facilities management which further includes optimization of workplace and anticipating complications for creating a rational positive experience for employees.
Emergence of smart buildings in large scale enterprises equipped with sensors and technology, has resulted in a higher demand for facilities management services that goes beyond the typical scope of employment with purposeful use of the available space being crucial and essential part in cost and efficiency of the enterprise.
Smart software leverages technologies such AI, machine learning for energy predictions, predictive maintenance and security providing high level of assistance for facility managers while facilitating workforce with the finest experience in workplace management.
Computer Aided Facility Management (CAFM) Outlook By Category
By Solution:
- Computer Aided Facility Management (CAFM) Software
- Services
By Enterprise Size:
- Small and Mid-Size Enterprises (SMEs)
- Large Enterprises
By Industry:
- IT & Telecom
- BFSI
- Manufacturing
- Energy & Utilities
- Government & Defense
- Healthcare & Life Sciences
- Retail & CPG
- Transportation & Logistics
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East and Africa (MEA)
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