In a recently published report, Computer-aided Facility Management (CAFM) Market report for till 2030. The report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Computer-aided Facility Management (CAFM) Market products.
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Moreover, increase in ICT spending around the globe for hardware, software, services, new technologies and telecom among others is also anticipated to contribute to the growth of the market in the coming years. The spending on new technologies recorded around USD 0.6 million in 2018 and is further estimated to reach close to USD 1.3 million by 2023. The total ICT spending around the globe further recorded close to USD 5 million in 2019 and is further.
CAFM is designed to aid the planning for a building or facility which covers every aspect of the day to day operations of the cause of the building. The software combines architecture and engineering, business administration and behavioral science concepts which optimizes the functioning of the organization and helps the property owner and manager stay in control and avoid unwanted fall outs. The rising digitalization and growing dependency on IT has led to increased adoption of these Software. According to American Society for Quality’s report of April 2019, 63% of manufacturers consider IoT products will increase profitability over the next five years and will invest USD 267 billion in IoT by 2020. Furthermore, the increased efficiency and optimization offered by these software also fuel the market growth. The rising need for automation across the globe has also triggered a boost in the market growth. However, cyber security threats impedes the growth of the market over the forecast period of 2020-2027.
Although, advent of AI in the software presents a lucrative opportunity for the market. For Instance: in May 2019, Manhattan Associates, launched Manhattan Automation Network, a program designed to speed the development and implementation of modern distribution center automation and robotics in warehouse automation sector. the program delivers joint solution design, integration touchpoints and implementation between warehouse management solution and innovative robotics.
The regional analysis of global Computer-aided Facility Management (CAFM) market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the early adoption of technology and availability of well-established infrastructure. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such as rising disposable income, rising digitalization would create lucrative growth prospects for the Computer-aided Facility Management (CAFM) market across Asia-Pacific region.
Major market player included in this report are:
IBM Corporation
Hippo
Data Processing Solutions, Inc.
Dude Solutions
IFS
Fortive
Merchant logo
FasTrak SoftWorks, Inc
ServiceChannel
eMaint
Real Asset Management
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
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The detailed segments and sub-segment of the market are explained below:
By Type:
Cloud Based
On-Premises
By Application:
Industrial & Manufacturing
Property Management Firms
Logistics & Retail
Education & Government
Healthcare
Others
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Computer-aided Facility Management (CAFM) Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors
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