Facility Management Market Introduction
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.
Global Facility Management Market is the management which focuses on corresponding physical workplace with work and people of the organization surrounded by activities such as space planning, portfolio and maintenance of equipment. It includes skills such as environmental sustainability. human factors, leadership & strategy, communication, quality, project management and others.
Facility Management Market Overview
Rapid technology changes and digitization of business created a big opportunity for the facility management market. Companies are facing economic pressure due to rising maintenance and increased investments which has led to a reduction in capital expenditure which boosted the growth of the market. Stringent government regulations on environment and regulatory compliance alongside the expansion of commercial and real estate infrastructure development fueled the growth of the market. A gradual increase in renewable energy sources in order to lessen the emission of greenhouse gases has led to more adoption of facilities management services. Cloud-based solutions permit fast data recovery and offer safety measures for hosting important data. This has led to increasing demand for cloud-based in the facilities management market which has boosted the growth of the market.
However, shortage and lack of skilled personnel to handle facility management software and hardware have objected to the growth of the market. Rising price competition has hindered the growth of the market.
North America holds a vast share of the market. Increased adoption of automation and robustly developing infrastructure in the Asia-Pacific region is anticipated to promote swift growth of the market in the coming years.
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Facility Management Market Segmentation
By Solution:
+ Integrated Workplace Management System (IWMS)
+ Operations & Security Management
+ Building Information Modeling (BIM)
+ Property Management
+ Environment Management
By Service:
+ Auditing & Quality Assessment
+ Deployment and Integration
+ Support and Maintenance
+ Consulting
By Deployment Type:
+ Cloud
+ On-premises
By Organization Size:
+ Large
+ Small and Medium Enterprises
By Vertical:
+ IT and Telecommunication
+ Manufacturing
+ Education
+ Banking, Financial Services, and Insurance
+ Retail
+ Healthcare
+ Energy and Utilities
+ Construction and Real Estate
+ Public sector
+ Others
By Region:
+ Europe
+ North America
+ APAC
+ Latin America
+ Rest of World
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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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