Computer Aided Facility Management Cafm Market Research Report |COVID-19 Impact and Future Scope Analysis Forecast till 2027

Global Computer Aided Facility Management (CAFM) Market: Introduction

Computer aided facility management (CAFM) is a technology that combines business administration, behavioral science, architecture, and engineering concepts to optimize the functioning of an organization. The main function that separates it from earlier versions of facilities management is that it utilizes CAD (computer-aided design) elements and visuals in combination with alphanumeric data processing. The computer-aided facility management (CAFM) market is set to reach slightly above US $500 Mn by 2025.

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Global Computer Aided Facility Management (CAFM) Market - Dynamics

Evolution of Industry 4.0 is expected to drive the Computer Aided Facility Management (CAFM) Market

Industry 4.0, popularly known as smart organization, is considered the fourth era of industry that collaborates computing and automation. It also includes cyber-physical systems, Internet of Things, cloud computing, and cognitive computing. This initiative has increased the adoption level of automation software and systems across the globe. Industry 4.0 is expected to drive the growth of the computer aided facility management (CAFM) market due to its major operational and administrative benefits.

Growth in Cloud based Engineering Software is expected to drive the Computer Aided Facility Management (CAFM) Market

Cloud-computing technology, combined with increased configurability and computing mobility of software and services, is creating a wide range of opportunities for end-users. This has led to a rise in the level of effectiveness of data sharing inside organizations since it ensures sharing of applications and services within the organization. It has also resulted in the sharing and accessing of a deeper level of information across various end-use sectors. Major advantages of cloud-based computer aided facility management (CAFM) which are bolstering the market include administration benefits, cost benefits, designing benefits, and data benefits. Implementation of cloud-based services and solutions is expected to give more ease and accessibility to users, which in turn would boost the growth of computer aided facility management (CAFM).

Cost Concerns Restricting Growth of the Computer Aided Facility Management (CAFM) Market

High Cost of Software Integration for On-premise Deployment

Cloud based simulations are gaining popularity due to ease of use and low cost. However, on-premise solutions could be of significant importance as compared to its counterpart, to conduct simulation on a very large scale and due to security concerns. Implementation and application of on-premise based computer aided facility management (CAFM) software attracts higher cost, making it difficult for small and medium enterprise to implement it.

North America Expected to Dominate the Global Computer Aided Facility Management (CAFM) Market

In terms of region, the global computer aided facility management (CAFM) market can be divided into North America, Europe, Asia Pacific, South America, and Middle East & Africa. North America is expected to dominate the global computer aided facility management (CAFM) market during the forecast period, as the adoption of enterprise workflow automation technologies within this region is very high compared to other regions.

Global Computer Aided Facility Management (CAFM) Market – Competition Landscape

In August 2018, a new generation of the Computer Aided Facilities Management (CAFM) system was launched by The University of Hong Kong, specifically for space management, building operations, store management, furniture management, equipment management, and events management.

IBM Corporation

Established in 1911, IBM Corporation is headquartered in Armonk, New York, the U.S. Previously known as Computing-Tabulating-Recording Co., the company changed its name to International Business Machines Corporation, i.e. IBM Corporation in 1924. IBM Corporation operates as an integrated services and technology company across the globe. It functions through five business segments: global business services, cognitive solutions, systems, technology services & cloud platforms, and global financing. It offers a high-performance simulation framework called Qiskit Aer for the open source Qiskit software stack.

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Global Computer Aided Facility Management (CAFM) Market: Segmentation

The global computer aided facility management (CAFM) market can be segmented based on:

Enterprise Size
Industry
Region

Global Computer Aided Facility Management (CAFM) Market, by Enterprise Size

Based on enterprise size, the global computer aided facility management (CAFM) market can be divided into:

Small & Medium Enterprises
Large Enterprises

Global Computer Aided Facility Management (CAFM) Market, by Industry

In terms of industry, the global computer aided facility management (CAFM) market can be segregated into:

Banking, Financial Services & Insurance
Telecom & Information Technology (IT)
Manufacturing
Construction
Wholesale Distribution
Non-profit Organizations
Chemicals
Food and Beverage
Retail
Others (Hospitality, Government, and Public Sector, etc.)

Regional analysis of the global computer aided facility management (CAFM) market includes:

North America

U.S.
Canada
Mexico
Rest of North America

Europe

Germany
U.K.
France
Russia
Italy
Spain
Nordics
Rest of Europe

Asia Pacific

China
India
Japan
Australia
Singapore
Malaysia
South Korea
Rest of Asia Pacific

Middle East & Africa

UAE
Saudi Arabia
South Africa
Rest of Middle East & Africa

South America

Brazil
Rest of South America

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

Customer Experience Maps
Insights and Tools based on data-driven research
Actionable Results to meet all the business priorities
Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

North America
Asia Pacific
Europe
Latin America
The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?