Workplace Management Tools Market

Workplace Management Tools Market Outlook (2023 to 2033)

The global workplace management tools market size is anticipated to exceed USD 11,583.6 million in 2023 and is projected to reach USD 65,046.7 million by 2033, indexing a CAGR of 18.8% by the end of the forecast period.

Companies use workplace management applications to create employees' best-fit schedules, track time and attendance, manage tasks, HR management, and manage their employees' absences and leaves.

Attributes	Details
Market Share (2022)	USD 9,883.6 million
Market Share (2023)	USD 11,583.6 million
Market Share (2033)	USD 65,046.7 million
Market Share (2023 to 2033)	18.8%

Workplace management application features vary from industry to industry. The manufacturing industry has been a strong adopter of workplace management solutions as it helps them to measure employee productivity as well as manage and retain high-performing employees. Whereas in the IT sector, human resources software is paired with workforce management tools that are integrated with biometric recognition.

In addition, factors such as workforce optimization, increasing cloud deployments, and compliance with regulatory mandates are responsible for driving the market growth. Various end-user industries are anticipating an increase in demand for workplace management systems, as well as connectivity and unified enterprise solutions.

However, there is a lack of awareness of workplace management solutions in the corporate sector, and the shortage of expert staff has limited the growth of the workplace management tools market.

Other factors, such as the rise in smart and sustainable buildings, corporate social responsibility (CSR), and the growth in sustainable and smart buildings, are also expected to provide lucrative growth opportunities for the global workplace management tools market.

What Are the Market Dynamics for Workplace Management Tools?

Drivers

• Introduction of New Technologies: The introduction of new technologies like AI, IoT, and machine learning and their increasing adoption in workplace management systems may drive the workplace management tools market.
• Increasing Cloud-Computing Application Deployments: The trend is shifting from complex on-premises deployments to cloud-computing (SaaS-model) deployments. The SaaS-based implementation of IWMS enables more granular, less costly, and resource-intensive projects.
• Costs Effective: A low cost of deployment and implementation of workplace management tools like cloud services makes cloud computing attractive to small companies. Platforms on the cloud provide a cost-effective and easily deployable alternative, eliminating the need for small companies to build their data centers.
• Multiple Benefits: Several benefits are offered in the workplace management tools, including real-time tracking, integrated processes, reduced energy consumption, safety and security, disaster recovery, and consolidation of data centers. For Instance, the use of mobile devices and cloud technology has made it much easier for facility managers to send alerts anywhere, anytime, to employees in remote locations.
• Lack of Awareness & Unexplored Benefits: The biggest impediment in the market is the lack of awareness and its importance in organizations. People are not fully aware of the changes in products and services, even though workplace management is an imperative aspect of organizations. This has made this department equally as crucial as other core business processes.

Regional Insights

How North America is Dominating Workplace Management Tools Market?

North America is experiencing a rapid increase in the workspace management tools market. In 2022, North America held a market share of 28.1% due to higher adoption and installation of workspace tools on virtual desktops by enterprises.

Currently, the United States holds a massive share due to increasing developments in smart building projects in the region. Most leading market players, such as Oracle, IBM, Trimble, Accruent, and Archibus, have headquarters in this region.

Also, advanced developments and establishments in the real estate and infrastructure sector increase the demand for workplace management tools in North America. Hence, North America is expected to dominate the market in the coming years.

How is Europe Performing in the Workplace Management Tools Market?

In 2022, a significant share of 25.1% was occupied by the workplace management tools market in Europe due to a decrease in the total ownership costs of workspace management tools in the region.

Within the European Union, continuous technological advancements are occurring throughout the region, such as in Norway, Finland, Sweden, Denmark, the Netherlands, Switzerland, and the United Kingdom, which holds a strong position in national technological strength.

Start-up Ecosystem

How is the Start-up Ecosystem in the Workplace Management Tools Market?

The workplace management tools market survey explains that various business models are emerging all the time, sometimes due to market changes and sometimes due to technological advancements, culminating in brand-new and exciting trends. It is becoming increasingly common for start-ups to focus on innovation, merge and acquire, and develop the appropriate frameworks and architectures.

• In 2022, organizations all around the world are expected to have an average of 35 AI projects in place. Moreover, 45 percent of companies use machine learning, artificial intelligence, or data analysis tools for addressing data quality issues.
• Eden's Performance Management product launches the company's People Success software suite, complementing its flexible Office suite of tools.
• Start-up companies are focusing on creating a full-stack solution as DEX software. DEX management tools support that strategy by aggregating usage and performance data, dissecting that data, and providing insights that help companies make better choices for their technology, fuelling the overall sales of workplace management tools.

Competitive Landscape

Workplace Management Tools Market: Key Contracts/ Agreements/ Acquisitions

Most workplace management tools market competitors adopted partnerships as a key strategy to expand their geographical footprint and upgrade their product technologies.

• In March 2021, Cisco enabled trusted workplaces and safe returns to the office through Webex and collaboration devices that use sensors, alerts, and artificial intelligence (AI).

Recent Developments in the Workplace Management Tools Market

Due to the competitive environment, organizations increasingly require workplace management tools to keep their workers motivated and organized. This ensures optimal productivity to stay abreast of the changing times. Companies like SISQUAL, Oracle, NICE Systems, and Infor are introducing a wide range of innovative workplace management tools with advanced capabilities and features. These solutions address the traditional needs of contact centers, back offices, and branches.

• Asana: Work management platform Asana launched a new set of tools and product liaisons in October 2022 with the goal of automatically providing company executives with a comprehensive view of progress toward important projects to guide resource allocation and planning. The newest products from Asana are designed to assist businesses in quickly shifting priorities when their needs alter. They also seek to reduce waste costs and duplication of effort by reducing cross-functional work through an integrated tech stack and scaling up worldwide security through enterprise security capabilities.
• Atlassian Corporation: A renowned provider of team collaboration and productivity software, Atlassian Corporation Plc, launched a new work management solution called Atlassian Together in September 2022, along with several new product features. These new offerings from Atlassian are intended to facilitate the alignment of autonomous teams' work practices and the technologies they select to support organizations' attempts to become digital.
• Authority Software: Authority Software announced the launch of Authority Workforce Management on April 16th, which includes quality recording management, customer relationship management, and rapid application development.
• TRAX: TRAX partnered with Blue Yonder in January 2021 to launch workforce management software for retailers and fulfillment centers that track real-time demand visibility and employ a flexible, skilled workforce to solve store issues quickly and effectively.
• Dell Technology: In April 2019, Dell Technologies introduced Unified Workspace, which offers workers a ready-to-work experience that simplifies IT's entire device lifecycle.

Key Players in the Global Market

• Matrix42 AG
• Citrix Systems Inc.
• RingCube Technologies Inc.
• Cisco Systems Inc.
• Ivanti Software Inc.
• Dell Inc.
• VMware Inc.
• Microsoft Corporation
• Bitrix Inc.
• Atlantis Computing Inc.

Scope of the Report

Attribute	Details
Forecast Period	2023 to 2033
Historical Data Available for	2018 to 2022
Market Analysis	USD million for Value
Key Regions Covered	North America; Latin America; Europe; Asia Pacific; The Middle East & Africa (MEA)
Key Countries Covered	United States, Canada, Germany, United Kingdom, Nordic, Russia, BENELUX, Poland, France, Spain, Italy, Czech Republic, Hungary, Rest of EMEAI, Brazil, Peru, Argentina, Mexico, South Africa, Northern Africa, GCC Countries, China, Japan, South Korea, India, ASEAN, Thailand, Malaysia, Indonesia, Australia, New Zealand, Others
Key Segments Covered	Deployment, Component, Organization Size, Industry Vertical, Region
Report Coverage	Market Forecast, Company Share Analysis, Competition Intelligence, Trend Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives

Workplace Management Tools Market Segmentation

By Deployment:

• On-premise
• Cloud

By Component:

• Solution
• Services

By Organization Size:

• Large Enterprises
• Small Enterprises
• Medium Enterprises

By Industry Vertical:

• Manufacturing
• Healthcare
• Government
• BFSI
• Retail & E-commerce
• IT & Telecom
• Education
• Others

By Region:

• North America
• Latin America
• Europe
• Asia Pacific
• The Middle East & Africa (MEA)

Frequently Asked Questions

What is the Current Estimated Valuation of the Workplace Management Tools Market?

The workplace management tools market is set to reach USD 11,583.6 million in 2023.

What Size is the Workplace Management Tools Market Expected to Reach by 2033?

The global workplace management tools market is poised to achieve a revenue milestone of USD 65,046.7 million by 2033.

What is the CAGR Forecast for the Workplace Management Tools Market?

A CAGR of 18.8% is predicted for the workplace management tools market through 2033.

Which Region Reveals Substantial Profit Opportunities for Workplace Management Tools?

North America, with a 28.1% global revenue share in 2022, offers substantial profit prospects for workplace management tools driven by remote work trends.

Which is the Top Trend in the Workplace Management Tools Market?

The prominent trend shaping the workplace management tools market involves leveraging AI and IoT integration to elevate operational efficiency.