The global Facility
Management Market is predicted to touch USD 60 billion at a 13% CAGR
between 2016- 2022, as per the recent Market Research Future (MRFR) analysis.
Facility management, simply put, is the process to manage multiple disciplines
& operations of a company and also ensure smooth functionality of the built
environment. This helps to integrate technology, process, place, people, and
also helps the company to lay emphasis on their core competencies, which
include technology management, property management, project management,
operation and maintenance, leadership strategy, finance and business,
environmental sustainability, and communication. Inventory management,
operation management, project management, maintenance management, and others
are its different services. Owing to its alluring features and plentiful
benefits, facility management has wide applications in government, IT and
telecom, real estate, BFSI, education, manufacturing, healthcare, retail, and
other sectors.
Various factors are propelling the
global facility management market growth. According to the latest MRFR report,
such factors include the changing work culture, booming cloud technology
market, increasing trend of outsourcing facility management operations, growing
emphasis by organizations on space management system and building asset, and
increase in commercial real estate properties.
On the contrary, the lack of awareness
and the COVID-19 pandemic impact are factors that may limit the global facility
management market growth over the forecast period.
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Competitive
Outlook:
Key players profiled in the
global facility management market report include Trimble, Inc. (U.S.),
Interserve Plc. (UK), Accruent, LLC (U.S.), CA Technologies, Inc. (U.S.), FM
System, Inc. (U.S.), Aramark Corporation (U.S.), EMCOR group, Inc. (U.S.), SAP
SE (Germany), Oracle Corporation (U.S.), and IBM Corporation (U.S.).
Segmentation:
The MRFR provides an inclusive
segmental analysis of the global facility management market based on services,
deployment, and end users.
By services, the global facility
management market is segmented into inventory management, operation management,
project management, maintenance management, and others. Of these, the project
management segment will lead the market over the forecast period for the
increasing use of facility management for project management.
By deployment, the global facility
management market is segmented into cloud and on-premise. Of these, cloud
deployment will dominate the market over the forecast period for the rising
preference for cloud deployment.
By end users, the global facility
management market is segmented into government, IT and telecom, real estate,
BFSI, education, manufacturing, healthcare, retail, and others.
Regional
Analysis:
Based on the region, the global
facility management market report covers the growth opportunities and recent
trends across North America, Europe, the Asia Pacific (APAC), & the Middle
East and Africa (MEA). Of these, North America will have the lions share in the
market over the forecast period. Increasing use of technology advances and its
use in IT and manufacturing sectors, early adoption by well-established
companies, growing support by the government in the region for funding in
innovations for launching new facility solutions, and the pressing need for
maintenance and support in the manufacturing sector is adding to the global
facility management market growth in the region.
The global facility management market
in the APAC region is predicted to grow at a fast pace over the forecast
period. The surging need for effective facility management services, growth in
the cloud technology market, the ongoing trend towards outsourcing facility
management operations, and burgeoning demand for high real estate properties
are adding to the global facility management market growth in the region.
Besides, the rising emphasis on building asset and space management system is
also adding market growth.
The global facility management market
in Europe is predicted to have steady growth over the forecast period, while
the MEA is predicted to have sound growth over the forecast period.
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Table of Contents:
1 Executive
Summary
2 Scope of the
Report
2.1 Market
Definition
2.2 Scope
of the Study
2.2.1 Research objectives
2.2.2 Assumptions & Limitations
2.3 Markets
Structure
3 Market
Research Methodology
3.1 Research
Process
3.2 Secondary
Research
3.3 Primary
Research
3.4 Forecast
Model
Continued….
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