by Brianna Crandall — April 6, 2022 — Independent research firm Verdantix recently revealed eight “Leaders” in integrated workplace management system (IWMS) platforms for smart buildings, complementing the firm’s list of four Leaders in Internet of Things (IoT) platforms revealed earlier this year.
Verdantix graphic courtesy of Spacewell, one of the select Leaders in both IWMS and IoT. Planon also appears in both Leader quadrants. Click image to enlarge
IWMS Leaders
According to the IWMS report, eight firms — Accruent, FM:Systems, IBM (TRIRIGA), iOFFICE + SpaceIQ (Archibus), MRI (ManhattanONE), Planon, Spacewell and Tango — currently lead the rapidly changing IWMS marketplace. Using its proprietary Green Quadrant methodology, Verdantix assessed the capabilities of the 13 most prominent IWMS providers on their ability to centralize real estate and facilities data and drive operational improvements.
Joy Trinquet, Verdantix industry analyst, commented:
Firms are more closely analysing existing real estate portfolios, facilities contractors’ performance, maintenance plans and energy use to identify cost-cutting opportunities. This is being driven by the financial impact of the pandemic lasting longer than expected with executives looking for quick fixes which will open up funding for more strategic projects.
The Verdantix report, Green Quadrant: Integrated Workplace Management Systems 2022, provides prospective buyers of IWMS with detailed analysis to expedite and inform vendor selection decisions.
Key findings include:
- Buyers looking for a comprehensive IWMS solution to optimize employee experience, maintenance, leases and space usage have significant choices with eight vendors making it into the Leader’s quadrant.
- Acquisition-led growth has substantially transformed the IWMS vendor landscape, with 30 strategic deals closing across the market in the past three years. For example, FM:Systems acquiring WizzPass to offer visitor management capabilities, Spacewell purchasing DEXMA to build out its energy management offering, iOFFICE and SpaceIQ merging to create iOFFICE + SpaceIQ, and vendors such as MRI Software (MRI) and Planon using acquisitions to fortify existing IWMS offerings.
- Mobile applications, IoT solutions and advanced analytics will continue to drive long-term IWMS innovation. Suppliers are focused on optimizing mobile apps for technicians and occupants, forming integrations with the wider smart building ecosystem and including emerging technologies, such as artificial intelligence (AI), machine learning (ML) and virtual assistants, into IWMS platforms and mobile apps. For instance, Tango’s IWMS platform has AI and ML capabilities built into the platform for key areas of functionality, such as real estate investment and space scenario modeling.
Trinquet continued:
The intensified M&A activity has increased the choice of IWMS vendors with international delivery expertise and broad platform capabilities. We’re seeing IWMS vendors reinvesting 25% to 30% of their annual revenue into product development, which has translated into providers developing the interoperability and functionality of solutions across multiple areas.
An Executive Summary of the Verdantix IWMS report is available on the firm’s website. The complete Green Quadrant: Integrated Workplace Management Systems 2022 report is available to those with a Verdantix Smart Buildings subscription.
IoT Leaders
According to the IoT report, four firms — JCI, Schneider Electric, Siemens and Spacewell — currently lead the market for Internet of Things (IoT) platforms for Smart Buildings but face strong competition from new entrants and innovative start-ups. Using its proprietary Green Quadrant methodology, Verdantix assessed the capabilities of the 17 most prominent IoT platforms for Smart Buildings on their ability to deliver value and support enterprise-scale architecture.
Dayann Charles, Verdantix industry analyst, commented:
The IoT market is growing at a considerable rate, with seven new entrants to this study since 2019. Vendors are expanding their capabilities to deliver comprehensive applications in areas such as air quality, building security and space optimization. In order to meet rapidly changing buyer needs, vendors are pursuing aggressive acquisition and product investment strategies to fill gaps in their capabilities.
The Verdantix report, Green Quadrant: IoT Platforms For Smart Buildings 2022, provides prospective buyers of IoT platforms with detailed analysis to expedite and inform vendor selection decisions.
Key findings include:
- Vendors such as Johnson Controls (JCI), Schneider Electric, Siemens and Spacewell lead the market with integrated suites of solutions that cover almost all elements of building management. Other vendors that feature in our Leaders’ quadrant, who meet the majority of buyer needs, include Carrier, Honeywell and Planon.
- The market is witnessing innovation across the board, driven by the need to meet expanding customer demand. For example, Accruent, Energisme, PointGuard and ThoughtWire are bringing new insights to traditional functionality areas such as asset and energy management through advanced analytics and workflow optimization.
- The lowering costs of IoT sensors and solutions is also driving the adoption of IoT for newer building applications. Spica Technologies and Thing Technologies offer strong occupant-facing solutions, helping to enhance hybrid workspaces and the employee experience, while Infogrid has a track record of deploying thousands of sensors rapidly to support the cultivation of healthy building environments.
- With 44% of firms expecting to increase their spending on IoT platforms for buildings in 2022, vendors are continuing to strive for differentiation. This has led to more solutions leveraging AI and machine learning to deliver advanced analytics that support both real-time operations and long-term strategy, such as real estate rationalization and capital expenditure planning.
Charles concluded:
With the needs of firms, both operational and strategic, constantly evolving, building IoT platform vendors are well-placed to tackle key use cases and generate value across real estate portfolios for the full range of building stakeholders, from C-suite executives and portfolio managers to building occupants.
An Executive Summary of the Verdantix IWMS report is available on the firm’s website. The complete Green Quadrant: Integrated Workplace Management Systems 2022 report is available to those with a Verdantix Smart Buildings subscription.
