Workspace management platforms are used to optimize and manage room scheduling, asset management, workplace utilization, and hoteling. Workspace management software solutions provide managed floor plans to organizations and help in analyzing the performance of the workforce on the optimized work floor. Several companies are adopting workspace management software for improving their workspace management strategy and analyzing the performance of the workforce. The workspace management software enables organizations to improve productivity and employee engagement, which helps them manage the administrative, technology, and licensing overhead of provisioning resources across large, distributed networks. Workspace management software focuses on automation of daily tasks and activities with the goal of improving management efficiency and covering the different stages of interaction with workspace users.
The global workspace management platform market is primarily driven by an increase in demand for optimized planning of workspace among end-users. In the current working environment, organizations are facing challenges during the finalizing their floor planning strategy, which helps optimize the use of the total floor space. Furthermore, a rise in the adoption of workspace management platforms is anticipated to fuel the global workspace management platform market. Additionally, an increase in the number of strategic alliances or acquisitions is estimated to boost demand for workspace management platforms market across the world.
These acquisitions are increasing due to major factors such as rise in demand for changing space utilization requirements and the needs for multigenerational employees. Currently, a rise in demand for working anytime, from anywhere, using employees’ own mobile devices is boosting demand for workspace management platforms. Thus, enterprises across the globe are likely to make significant investments in workspace management platforms in the near future. A rise in trend among end-users of 'bring your own device' (BYOD) and changing work culture are also likely to augment the global workspace management platform market.
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However, slow adoption of workspace management platforms is hampering the workspace management platforms market. The high cost of implementation is also projected to inhibit the workspace management platform market. Several factors such as area and volume of space are considered while implementing workspace management platforms. Additionally, the cost of deployment and cost of services such as professional services, implementation, customization, data management, and upgrades are also considered.
The global workspace management platform market can be segmented based on deployment, application, enterprise size, and region. Based on deployment, the market can be bifurcated into on-premise and cloud-based. In terms of application, the global workspace management platform market can be split into health care establishments, IT & telecommunication, government institutions, and research and consulting services. Based on enterprise size, the market can be segmented into large enterprises and small-medium enterprises.
In terms of region, the global workspace management platform market can be divided into Europe, North America, Middle East & Africa, South America, and Asia Pacific. The market in North America is estimated to expand at a substantial pace during the forecast period. North America is expected to constitute a prominent share of the workspace management platform market during the forecast period. Increase in acceptance of workspace management platforms by organizations is resulting in their higher penetration in the region.
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