Market Size and Growth:

Workspace management software is used to manage floor space effectively. This is highly recommended for the startup companies to make better use of the space with effective cost. Also, it deals with the assets, infrastructure, and companies real estate portfolio. The market size is expected to reach USD 816.2 million by 2022, registering at a CAGR of 15% during the forecast period.

Growth opportunities of the market:

Increasing new entry-level companies in every sector is majorly accelerating the demand of the market to the extent. In addition, the rise in the investments in the end-user industries by the government is propelling the growth of the market.

However, the lack of skilled persons in monitoring the systems in an effective way is slightly declining the demand of the market. High cost for installation and maintenance of the devices is also impeding the growth of the market.

Growing prevalence for the proper planning in utilizing the floor space and also to provide a good working environment is lucratively setting up growth opportunities for the market. Acceptance of the latest technologies is likely to bolster the demand of the market further.

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Regional Analysis:

Regionally, the market is segmented into North America, Asia pacific, Europe, Middle East and Africa. North America and Europe are witnessed in leading the highest shares of the market by owing to increasing capital income and a rise in the demand for modern infrastructures. Asia pacific is accounted in having the fastest growth rate with the growing scale of the IT sector and also trend towards the convenient workspace. Middle East and Africa are inclined to have significant growth rate in the coming years with the rising awareness in optimizing the utilization of workspace.

Leading Prominent Players mentioned in market report:

Asure Software, Condeco, IBM, Planon and Yardi Systems are some of the noteworthy players in the workspace management software market.

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