Computer Aided Facility Management (CAFM) Market Growth Outlook Through 2024-2033

Overview and Scope
Computer-Aided Facility Management (CAFM) refers to the use of computer software and technology to manage and optimize the various aspects of facility operations and maintenance. CAFM systems are designed to streamline facility management processes, improve efficiency, and enhance the overall performance of facilities. The purpose of CAFM is to centralize and automate the management of facilities, including buildings, infrastructure, and assets, to ensure their effective operation and maintenance.

Sizing and Forecast
The computer aided facility management market size has grown strongly in recent years. It will grow from $1.05 billion in 2023 to $1.15 billion in 2024 at a compound annual growth rate (CAGR) of 9.2%. The growth in the historic period can be attributed to integration of building information modeling (bim), increasing emphasis on sustainability and energy efficiency, demand for centralized facility management solutions, technological advancements in sensors and IoT devices, and growing need for compliance and regulatory adherence.

The computer aided facility management market size is expected to see strong growth in the next few years. It will grow to $1.66 billion in 2028 at a compound annual growth rate (CAGR) of 9.7%. The growth in the forecast period can be attributed to adoption of artificial intelligence and machine learning technologies, expansion of smart building initiatives, rise in demand for cloud-based facility management solutions, increasing focus on remote monitoring and management capabilities, and integration of augmented reality and virtual reality tools for facility management. Major trends in the forecast period include emergence of predictive maintenance solutions, implementation of blockchain for secure facility data management, growth of mobile-first and user-friendly CAFM applications, integration of Internet of Things (IoT) for real-time asset tracking, and emphasis on data analytics for informed decision-making in facility management.

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Segmentation & Regional Insights
The computer aided facility management (CAFM) market covered in this report is segmented –

1) By Component: Solution , Services
2) By Deployment: On-Premises, Cloud
3) By Industry: IT And Telecom, Banking, Financial Services, and Insurance(BFSI), Manufacturing, Energy And Utilities, Government And Defense, Healthcare And Life Sciences, Retail And CPG, Transportation And Logistics, Other Industries

North America was the largest region in the computer aided facility management (CAFM) market in 2023. The regions covered in the computer aided facility management (CAFM) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth
The growing popularity of virtual workplaces is expected to propel the computer-aided facility management market going forward. Virtual workplaces are digital environments where employees can collaborate, communicate, and perform work tasks remotely, often facilitated by technology and online tools. Virtual workplaces’ growing popularity is driven by the desire for flexible work arrangements and the need for remote collaboration capabilities. CAFM systems is accessed remotely from any location with an internet connection, allowing facility managers, administrators, and other stakeholders to collaborate and coordinate facility management tasks virtually. For instance, in April 2023, according to the US Bureau of Labor Statistics, a US-based governmental organization, the percentage of establishments with employees who teleworked all the time grew from 37.4% in 2021 to 42.2% in 2022. Therefore, the growing popularity of virtual workplaces is driving the computer-aided facility management market’s growth.

Key Industry Players

Major companies operating in the computer aided facility management (CAFM) market are International Business Machines Corporation, Schneider Electric SE, Fortive Corporation, Bentley Systems, Eptura, Brightly Inc., Planon Corporation, Focus Softnet Pvt. Ltd., Idox plc, ServiceChannel Inc., Ramco Systems Ltd., SelectHub, AssetWorks Inc., Verve Systems Private Limited, Facilities Management eXpress (FMX), eMaint Enterprises LLC., Fracttal Tech S.L, Updater Services Limited, CMMS Data Group Inc., VLogic Systems Inc., MicroMain Corporation, Velosi Asset Integrity Ltd., Cryotos Solutions Private Limited, eFacility Inc., MPulse Software Inc.

The computer aided facility management (cafm) market report table of contents includes:

1. Executive Summary
2. Computer Aided Facility Management (CAFM) Market Characteristics
3. Computer Aided Facility Management (CAFM) Market Trends And Strategies
4. Computer Aided Facility Management (CAFM) Market – Macro Economic Scenario
5. Global Computer Aided Facility Management (CAFM) Market Size and Growth
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31. Computer Aided Facility Management (CAFM) Market Other Major And Innovative Companies
32. Global Computer Aided Facility Management (CAFM) Market Competitive Benchmarking
33. Global Computer Aided Facility Management (CAFM) Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Computer Aided Facility Management (CAFM) Market
35. Computer Aided Facility Management (CAFM) Market Future Outlook and Potential Analysis
36.Appendix

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