by Brianna Crandall — November 16, 2015—The facilities management (FM) software market in Australia has been benefitting from a relatively informed and mature end-user base that is constantly looking for more suitable products to meet their changing needs, points out new analysis from global growth partnership company Frost & Sullivan.
Considering the high priority placed on creating the best possible workplace environment for staff and end users, focus on the optimal utilization of resources and organizational assets, risk management, and compliance reporting, FM products with these capabilities are expected to drive market growth, with probable relevance to other relatively mature markets such as the USA.
The new analysis, Facilities Management Software Market in Australia, finds that the market earned revenues of $33.23 billion in 2014 and estimates this will reach $43.93 billion in 2021. The study covers FM solutions, occupancy or space management solutions, collaboration solutions, niche point solutions for mobility or field force enablement, and resource planning solutions with FM-specific modules.
According to Janice Wung, Frost & Sullivan Environment and Building Technologies industry analyst:
The main competitive advantage rests with companies that are able to provide customers with FM software that yields relevant, actionable insights. Although developing this competitive advantage could be a challenge for vendors as an increasing number of data sources needs to be integrated for this purpose, it will be crucial to ensure that FM software does not become a mere administrative tool.
Moreover, with the software-as-a-service model and cloud deployment receiving increased attention, vendors who focus on technology trends such as cloud computing and multi-device mobility stand to benefit. The heightened use of graphical dashboards to monitor metrics and migration from native to Web applications also provide areas of potential growth in the Australian market.
On the other hand, the resistance to change within some organizations, particularly smaller firms, and the increased complexity in decision-making due to the diversity of mobile devices and applications being used will deter FM software adoption in the country, according to the report. Additionally, the influx of a range of niche mobility applications, which has intensified competition and provided customers with more options, could dampen market prospects.
Wung explained:
Short-term contracts and periodic replacement/upgrades typically associated with FM software allow end users to consider available options in the market on a regular basis. However, since the vendor already has access to significant operational data, customers generally stay with their current solution provider unless they are extremely dissatisfied. Thus, they are mostly able to protect their market share.
While the market is served by several multinational vendors, established local software providers remain highly competitive. To sustain their position, local software vendors will need to invest in training and talent development of skilled personnel to maintain end-user interest in their solutions.
The report lists some of the key competitors in the market as: IBM Maximo, Serraview, Archibus, Pronto, Manhattan, FM Innovations, Service Works Global, BEIMS, MEX Maintenance Software, Aconex, FSI and Pervidi. The companies provide a wide variety of FM-related software such as CAFM / IWMS, asset management, energy management, maintenance / CMMS and space management software.
Available for purchase from Frost & Sullivan, Facilities Management Software Market in Australia is part of the Building Management Technologies Growth Partnership Service program. All studies included in the firm’s subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.
