Computer Aided Facility Management (CAFM) Global Market Report 2024

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 observed in the historical period can be attributed to the adoption of building information modeling (BIM), heightened focus on sustainability and energy efficiency, a surge in demand for centralized facility management solutions, advancements in sensor technology and IoT devices, and an increasing necessity for compliance with regulations.

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 anticipated growth in the forecast period is driven by the widespread adoption of artificial intelligence and machine learning technologies, the expansion of smart building initiatives, a surge in demand for cloud-based facility management solutions, a growing emphasis on remote monitoring and management capabilities, and the integration of augmented reality and virtual reality tools for facility management. Key trends expected in the forecast period include the emergence of predictive maintenance solutions, the implementation of blockchain for secure facility data management, the proliferation of mobile-first and user-friendly CAFM applications, the integration of Internet of Things (IoT) for real-time asset tracking, and a heightened focus on data analytics for informed decision-making in facility management.

The burgeoning popularity of virtual workplaces is poised to propel the computer-aided facility management market forward. Virtual workplaces, characterized by digital environments facilitating remote collaboration and work tasks, are increasingly favored for their flexibility and remote collaboration capabilities. CAFM systems play a pivotal role in enabling virtual workplace management, accessible remotely from any location with internet connectivity. This enables seamless collaboration and coordination of facility management tasks among stakeholders. For instance, data from the US Bureau of Labor Statistics in April 2023 indicates a notable increase in the percentage of establishments implementing telework, rising from 37.4% in 2021 to 42.2% in 2022. Consequently, the growing traction of virtual workplaces serves as a significant driver for the expansion of the computer-aided facility management market.

Leading players in the computer-aided facility management market are strategically focusing on developing AI-powered solutions to gain a competitive edge. Artificial intelligence (AI) technologies, encompassing machine learning, reasoning, and problem-solving capabilities, are leveraged to enhance operational efficiency and decision-making processes. For instance, in March 2024, Auberon Technologies Private Limited introduced Optima, a third-generation CAFM solution infused with AI-driven features. Optima's AI capabilities elevate asset, facility, and maintenance management by optimizing service delivery and enhancing customer satisfaction through meticulous service level agreement (SLA) tracking and management. This next-gen CAFM solution exemplifies the industry's commitment to harnessing AI for improved efficiency and performance in facility management operations.

In August 2021, MRI Software LLC, a leading real estate software solutions provider based in the United States, completed the acquisition of FSI Ltd for an undisclosed sum. This strategic move by MRI Software signifies a significant expansion of its solution portfolio and strengthens its capacity to cater to the needs of property owners, operators, and contractors with advanced technology for efficient facility management. FSI Ltd, headquartered in the United Kingdom, specializes in the design and development of computer-aided facilities management (CAFM) software solutions.

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.

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. The countries covered in the computer aided facility management (CAFM) market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Computer-aided facility management (CAFM) entails utilizing software and technology to efficiently manage facility operations and maintenance. CAFM systems are tailored to streamline processes, boost efficiency, and elevate facility performance. The primary aim is to automate and centralize facility management tasks, encompassing buildings, infrastructure, and assets, ensuring their effective operation and upkeep.

The core components of CAFM include software and services, designed to optimize facility operations and maintenance processes. Deployment options range from on-premises to cloud-based solutions, catering to industries such as IT telecom, BFSI, manufacturing, energy, government, healthcare, retail, transportation, and others.

The computer-aided facility management (CAFM) market research report is one of a series of new reports that provides computer-aided facility management (CAFM) market statistics, including computer-aided facility management (CAFM) industry global market size, regional shares, competitors with computer-aided facility management (CAFM) market share, detailed computer-aided facility management (CAFM) market segments, market trends, and opportunities, and any further data you may need to thrive in the computer-aided facility management (CAFM) industry. This computer-aided facility management (CAFM) market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The computer-aided facility management (CAFM) market consists of revenues earned by entities such as maintenance management, space planning, and asset tracking. The market value includes the value of related goods sold by the service provider or included within the service offering. The computer aided facility management market also includes sales of CAFM software, IoT sensors, and building management systems. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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