The space management solutions market is poised to witness a CAGR of 7.8% during the forecast period. Over this projection period, the space management solutions market share is estimated to reach a net worth of USD 1.89 Billion by 2032, improving from the current valuation of USD 890 Million in 2022.
| Attributes | Details |
|---|---|
| Space Management Solutions Market Value in 2022 | USD 890 Million |
| Space Management Solutions Market Value in 2032 | USD 1.89 Billion |
| Space Management Solutions Market CAGR (2022 to 2032) | 7.8% |
The rising need for managing valuable assets and physical store space is turning out to be one of the major factors driving the growth of the space management solutions market. Moreover, the rising demand for space management solutions in the retail sector is also turning out to be another major factor driving the growth of the market in a positive manner in recent years.
Space management solutions are adopted by most enterprises in order to maximize the performance of their total floor space, and it also helps to improve employee productivity. The space management solutions enable enterprises to enhance their decision-making for future investments and improve compliance reporting for space allocations with several advanced features, which include visual space planning, strategic planning, move management, space surveys and reporting.
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Most of the sales of space planning and space management software are achieved for workplace management necessities arising out of resources and infrastructure constraints. Some of the prominent factors favouring the space planning and space management software market growth:
Scarcity of Skilled Labours - An Obstacle to Knowledge Transfer
Some challenges holding back the space planning and space management software market from realizing its full potential:
Lack of visibility across the entire inventory of space which leads to delays in decision making is the major challenge faced by most of the vendors in the space management solutions market.
Among all the major end-use verticals of the market, the Hospital sector is anticipated to rule the space planning and space management market over the forecast period. The deployment of patient beds on the hospital floor is what fuels the segments rise.
Particularly the peak period of the Covid-19 pandemic compelled healthcare institutions to adopt such software to accommodate a maximum number of patients. Such advantages have resulted in higher demand for space planning and space management software even after the subsidence of the pandemic period.
The North American region holds the largest space planning and space management software market by contributing almost 28.5% share in the overall sales and export.
Among the assessed regions, the space management solutions market in North America is expected to dominate during the forecast period owing to its rising adoption for optimizing enterprise resource planning. North America region is expected to be followed by Western Europe and APAC.
Over the last couple of years, Asia Pacific countries have witnessed some remarkable growth opportunities and have acquired the 2nd position with a contribution of around 22.6%.
This space planning and space management software market analysis report represents the figures in favour of the Asia Pacific region for rapid growth during the forecast years.
A number of businesses involved in the space planning and space management software market are now engaged in launching strategies like target marketing and improving user experience as a way of boosting their brand recognition. The recent developments in the direction of integrating features related to other business activities have also created immense opportunities for the key players in the present market.
Sensing the huge gap in the existing market for providing suitable solutions according to rapidly diversifying workplace environments, many new entrants have come up in the space planning and space management software market in recent years. Many start-up companies have also started providing support services as a major strategy to penetrate the market.
The overall space planning and space management software market is turning fragmented with the emergence of many new players that were once consolidated due to the dominance of some prominent solution developers.
Serraview is a renowned workplace management software provider that entered into a long-term partnership with PointGrab in March 2017. PointGrab is known for developing Cognipoint edge-analytics smart sensing solutions that will be integrated with software for further strengthening the sales of space planning and space management software by the company.
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| Attributes | Details |
|---|---|
| Growth Rate | CAGR of 7.8% from 2022 to 2032. |
| Base year for Estimation | 2022 |
| Historical Data Available for | 2016 to 2021 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Million and CAGR from 2022-2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis. |
| Segments Covered | Solution Type, Services, End User Industry, Regions |
| Regions Covered | North America; Latin America; Asia Pacific; Japan; Western Europe; Eastern Europe; Middle East & Africa |
| Key Countries Profiled | The USA, Canada, Brazil, Argentina, Germany, The UK, France, Spain, Italy, Nordics, BENELUX, Australia & New Zealand, China, India, GCC, South Africa |
| Key Companies Profiled | Accurent; Symphony Retail Solutions; Trimble Navigation Limited; JDA Software Group, Inc.; Asset Works.; Others |
| Customization | Available upon Request |
The space management solutions market is anticipated to register a CAGR of 7.8% through 2032.
The space management solutions market is estimated around USD 890 Million in 2022.
The space management solutions market is poised to be valued at USD 1.89 Billion by 2032.
The North America region captures a share of 28.5% of the space management solutions market.
| Market Size (2023) | USD 1,509.8 million |
|---|---|
| Market Size (2033) | USD 7,725.4 million |
| Market CAGR (2023 to 2033) | 17.7% |
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Space Management Solutions Market
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