Global Facility Management Market to Gain Unparalleled Adoption

  • 14 May 2019

Global facility management market is predicted to value over US $ 61.13 billion by 2026 end and observe a CAGR of 10.2% during the forecast period of 2019 to 2026. 

Standardized services and streamlined process are constant demands from organizations aiming to progress beyond conventional facility management. Modern facility management solutions are gaining accelerated adoption due to 
•    rapid technology changes
•    agility in business functions
•    digitization of businesses
•    integrated facility management under one platform
•    reduction in capital expenditure and focus on core activities
•    adoption of outsourced services
•    environmental and regulatory compliance
•    automation of building asset and space management
•    expansion in commercial and real estate infrastructure development
•    changing work culture across organisations
The international mergers and acquisition are reckoned to present significant opportunities to the facility management service providers. Also, the rising collaboration of small scale local facility management providers with prominent cross border providers in lieu of wider customer base coverage is fuelling the rapid growth of the global facility management market.

Global Facility Management Market Restraints
•    Presence of unorganized facility management players
•    Shortage of skilled personnel to handle facility management software and hardware
•    Rising price competition
•    Resistance due to the highly adopted comfortable traditional approach
•    Unavailability of standardization

Global Facility Management Market, by Solution: 
+ Integrated Workplace Management System (IWMS)
+ Operations & Security Management
+ Building Information Modeling (BIM)
+ Property Management
+ Environment Management

Global Facility Management Market, by Service: 
+ Auditing & Quality Assessment
+ Deployment and Integration
+ Support and Maintenance
+ Consulting

Global Facility Management Market, by Deployment Type:
+ Cloud
+ On-premises
Cloud-based facilities are widely adopted due to the ease of implementation irrespective of a physical location with a single sign-on, convenient data accessibility and low cost. Hence cloud segment is anticipated to experience strong growth opportunities in the coming years.

Global Facility Management Market, by Organization Size:
+ Large
+ Small and Medium Enterprises
Large organization require complex asset tracking and space management due to large staff and a higher number of loyal customers as compared to small and medium-sized enterprises. Hence this requirement is to positively impact the growth of large organization size sub-segment in future.

Global Facility Management Market, by Vertical:
+ IT and Telecommunication
+ Manufacturing
+ Education 
+ Banking, Financial Services, and Insurance 
+ Retail
+ Healthcare
+ Energy and Utilities 
+ Construction and Real Estate 
+ Public sector
+ Others 

Global Facility Management Market, by Region:
+ Europe 
+ North America 
+ APAC 
+ Latin America
+ Rest of World
Increased adoption of digital technologies like 3Dprinting, IoT, smart building systems, etc. and high population as compared to limited facility management services in North America makes it a market leader in terms of size and adoption. Europe is considered the second largest place holder with the rise in demand for integrated facilities services, however devaluation of sterling is resulting cheaper market entrants’ investment and poor health of facility management companies is estimated to slow down the growth of the market in Europe, especially in the UK region. Increased adoption of automation and robustly developing infrastructure in the APC region is anticipated to promote swift growth of the market in the coming years. Rest of the world, especially the middle-east with its rising tourism and exploding commercial infrastructure development signals a healthy growth of the market during 2019-2026.

Competitive Landscape: 
+ Tier 1 players- established companies in the market with a major market share 
+ Tier 2 players
+ Emerging players which are growing rapidly
+ New Entrants  

Future Wise Takeaways 
+ Growth prospects 
+ SWOT analysis
+ Key trends
+ Key data points affecting market growth 

Objectives of the Study:
+ To provide with an exhaustive analysis on the global facility management market on the basis of the solution, service, deployment type, organization size, vertical, and region 
+ To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
+ To evaluate and forecast micro-markets and the overall market 
+ To predict the market size, in key regions (along with countries)—North America, Europe, Asia Pacific, Latin America, and the Middle East.
+ To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions
+ Profiling of companies to evaluate their market shares, strategies, financials and core competencies 

 

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