Inpixon Bolsters Its Offering For The Hybrid Workplace With The Acquisition Of CXApp
On May 3, 2021, indoor location technology vendor Inpixon announced that it had acquired The CXApp, a provider of white-label mobile apps that enhance the experience of workplaces and virtual events. The acquisition will enable Inpixon to bring together indoor mapping, location services and workplace apps into a single proposition, enabling faster product development and cross-selling opportunities with existing clients. Prior to the acquisition, Inpixon and The CXApp had already partnered on multiple workplace app integration projects, as firms provide their employees with new apps to support smarter and safer workplaces.
The acquisition will help Inpixon improve its competitive positioning in the growing smart workplace app market. According to our 2020 survey, employee engagement apps will be one of the most sought-after smart building technologies in 2021. Across the 250 interviewees, 41% of firms are planning to engage vendors to implement workplace mobile apps and a further 24% will invest in consulting services only. The move towards more hybrid and flexible working has been a major driver of customer demand, as firms seek to provide their employees with more sophisticated tools for booking and using space. The CXApp has already benefited from this trend, reporting 73% year-on-year revenue growth in 2020.
Even though the workplace app market continues to grow, Inpixon should anticipate increasing competition as the return-to-work opportunity draws in a new slew of vendors. For example, Microsoft launched a series of workplace app templates for its Power Platform, helping firms speed up app development for employee health monitoring and workspace booking. ServiceNow also launched its own suite of workplace apps to support room booking and visitor management, supported by its acquisition of the 4Facility assets of App4mation, a ServiceNow services partner. In the near term, Inpixon can differentiate thanks to its combined indoor mapping and workplace app capabilities, where there is demand amongst large buildings occupiers and campus environments.
To learn more about the evolving smart workplace app marketplace, see our recent report Strategic Focus: Using Mobile Apps To Bring A Digital Experience To The Workplace.