Renewed focus on facility and asset management software as market participants turn to software to address the mission-critical operational, planning, and energy consumption needs of the built-world.

Key takeaways

  • Built-world assets—including offices, manufacturing plants, hospital and educational campuses, and public infrastructure—face challenges ranging from the normal aging process and lack of digitization to a heightened public focus on sustainability.
  • No longer just systems of record and reactive maintenance or work order tracking, facility and asset management software now encompasses benchmarking and lifecycle monitoring for entire asset portfolios and is focused on forecasting and performance.
  • Across the world, there is heightened focus on clean energy usage, including more scrutiny on facilities’ energy usage and a desire to make them more sustainable.
  • As buildings accommodate the green transition and renewable energy production increases, the rise in data-forward solutions to cut emissions and replace legacy systems will continue.
  • In many advanced economies, public and critical infrastructure has aged and are in dire need of repair to meet contemporary needs; software will be essential to modernize those asset systems.
  • Facility and asset management software can transform such built-world assets by increasing and automating productivity, lowering operating costs and CapEx, mitigating risks and enhancing safety, reducing energy costs, and improving the daily experiences of people who use such assets.