February 08, 2021
According to the research report titled ‘Global Computer-aided Facility Management (CAFM) Market Size study, by Type (Cloud Based, On-Premises) by Application (Industrial & Manufacturing, Property Management Firms, Logistics & Retail, Education & Government, Healthcare, Others) and Regional Forecasts 2020-2027’, available with Market Study Report LLC, global computer-aided facility management (CAFM) market is anticipated to generate noteworthy revenue during 2020-2027.
Industry experts claim that rising digitization, growing adoption of CAFM software, and increasing dependency of enterprises on IT are stimulating the global computer-aided facility management market outlook.
For the uninitiated, computer-aided facility management, abbreviated as CAFM is a software which assists in the planning of the daily operations of building facilities or establishments. Moreover, the software helps in optimizing the functioning of organizations by combining functionalities such as business administration, behavioral science concepts, engineering, and architecture.
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The report states that increasing adoption of IoT (Internet of Things) based products, inclination towards automation across the globe, and ongoing technological advancements in the business domain are positively swaying the global computer-aided facility management market dynamics.
Additionally, introduction of AI (Artificial Intelligence) technologies in software development along with increasing implementation of robotics for warehouse automation are furthering business development.
Speaking of type, the industry is categorized into on-premises, and cloud. The application spectrum of the market comprises of healthcare, education & government, logistics & retail, property management firms, and industrial & manufacturing among others.
As per the regional analysis of the business intelligence report, North America currently dominates the worldwide computer-aided facility management industry, on account of rapid adoption of technology, and surging infrastructure enhancement activities.
Alternatively, Asia-Pacific market is predicted to register the highest year-on-year growth rate during 2020-2027, owing to rising digitization, and increasing disposable income in the region.
Prominent corporations that influence the global computer-aided facility management industry trends include Real Asset Management plc, eMaint Enterprises LLC, ServiceChannel.com Inc., FasTrak SoftWorks Inc., Fortive, IFS AB, Dude Solutions, Data Processing Solutions Inc., Hippo CMMS, and IBM Corporation among others.