Advances in Technologies Widen Market Opportunities for Space Planning and Management Solutions Use

Space Planning and Management Solutions: Introduction

• Space planning and management solutions are digital platforms that simplify space planning. The primary objective of space planning and management solutions is to bring all floor plans into a single and interactive display.
• Space planning and management solutions are mainly used to create seating plans by organizations to manage the performance of their total floor space. It is used to manage and track real estate assets and all aspects of organization physical space inventory.
• Space planning and management solutions are also used by organizations to make smart real estate decisions as these solutions detect any wrong changes that occur in the workplace.
• The global space planning and management solutions market is projected to expand at a rapid pace during the forecast period, due to an increase in the demand for cloud-based space planning and management solutions among organizations.

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Global Space Planning and Management Solutions Market: Dynamics

Global Space Planning and Management Solutions Market: Key Drivers and Restraints

• Growing demand to manage physical store space and valuable assets is estimated to boost the demand for space planning and management solutions during the forecast period.
• Rising adoption of cloud-based space planning and management solutions among organizations is estimated to boost the demand for these solutions across the globe.
• Increasing demand for space planning solutions in the retail industry is likely to propel the need for space planning and management solutions during the forecast period
• Demand for space planning and management solutions from enterprises to simplify and synchronize resources is estimated to propel the market during the forecast period
• Rising demand for automated management of the entire workflow of the space utilization process in real-time across the globe is anticipated to boost the demand for space planning and management solutions during the forecast period
• However, data security and privacy concerns are expected to hamper the space planning and management solutions during the forecast period
• Increase in complexities and lack of visibility across the whole inventory of space which leads to delays in decision making is also a key factor projected to hinder the global space planning and management solutions market in the next few years

Impact of COVID-19 on Global Space Planning and Management Solutions Market

• Increasing cases of COVID-19 across the globe is resulting in economic slowdown. Developed countries are strongly affected by this pandemic. Businesses have been adversely impacted in most countries due to partial or full lockdown. This in turn is projected to indirectly hamper the global space planning and management solutions market in the next few years. However, empty offices are a unique opportunity to improve the physical workplace. Currently, organizations are planning new designs of workplace and improving workplace technology, to move employees or entire departments without disruption and while following the social distancing rule.

North America to Hold a Major Share of the Global Space Planning and Management Solutions Market

• In terms of region, the global space planning and management solutions market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America
• North America dominated the global space planning and management solutions market in 2019, due to the presence of well-established and technologically advanced players in the region. Increasing demand for agile IT infrastructure is anticipated to boost the market in the region.
• The space planning and management solutions market in Asia Pacific is projected to expand at a rapid pace during the forecast period. This can be attributed to rapid adoption of cloud computing technology along with increased digitalization in the region.

Global Space Planning and Management Solutions Market: Competition Landscape

Several local, regional, and international players are active in the space planning and management solutions market with strong presence. Rapid technological advancements have created significant opportunities in the market. Market players are gradually focusing on mergers and acquisition with technology partners to develop innovative and advanced solutions in order to improve their offerings and market reach.

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This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

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