The global Facility Management Software Market was valued at USD 1.79 billion in 2022 and is projected to reach USD 3.59 billion by 2030, growing at a CAGR of 9.29% from 2023 to 2030.
The increasing deployment of Computer Aided Facilities Management (CAFM) and Integrated Workplace Management Systems (IWMS) solutions is driving market growth. Currently, companies completely rely on these solutions to drive operational performance and reduce costs. Facility management software plays a vital role in enabling businesses of all sizes to streamline their operations, foster growth, and enhance efficiency, thereby helping them achieve their organizational goals. However, several factors are restraining the facility management software market growth such as high costs and the legacy of advanced technologies. Other challenges include employment management, maintenance, and lack of facility information availability.