Worldwide Facility Management Applications Market Shares, 2023: Economic Uncertainty Transitions to AI and Smart Facilities

Worldwide Facility Management Applications Market Shares, 2023: Economic Uncertainty Transitions to AI and Smart Facilities

This IDC study provides market share data for the facility management applications market in 2023. “The pandemic is past, but the lingering negative effects of longer-term commercial real estate issues are still there,” says Brian O’Rourke, research manager, Enterprise Asset Management and Smart Facilities at IDC. “Everyone from facilities personnel to finance professionals to the C-suite is dealing with the continued decline of commercial real estate values. The new workplace continues to evolve as leases need to be analyzed, and new work configurations and maintenance schedules must be created. This unsettled environment has been a boon for FM software vendors, as seen in revenue growth of 15.6% in 2023. Trends that will continue to drive revenue in the future include the growth of IoT and smart building technology and both AI and GenAI applications.”