The “Global Facility Management Market Size By Offering, By Deployment Mode, By End User, By Geographic Scope And Forecast” report has been published by Verified Market Research®. The report provides an in-depth analysis of the global Facility Management Market, including its growth prospects, market trends, and market challenges
JERSEY CITY, N.J., Sept. 11, 2023 /PRNewswire/ — The Global Facility Management Market is projected to grow at a CAGR of 5.0% from 2021 to 2028, according to a new report published by Verified Market Research®. The report reveals that the market was valued at USD 1234.55 Billion in 2020 and is expected to reach USD 1759.25 Billion by the end of the forecast period.
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Browse in-depth TOC on “Facility Management Market“
202 – Pages
126 – Tables
37 – Figures
Global Facility Management Market: Key Players, Market Drivers, and Future Outlook
The global Facility Management Market is poised for significant growth, driven by a combination of market drivers and key industry players who are at the forefront of shaping this dynamic sector. Notable companies such as CA Technologies, IBM Corporation, Oracle Corporation, SAP SE, Archibus, Trimble, Accruent, Planon, FM: Systems, iOffice, and Planon are actively contributing to the market’s expansion.
Facility Management Market Drivers:
- Technological Advancements: The Facility Management Market industry is witnessing a rapid integration of advanced technologies, such as Internet of Things (IoT), Artificial Intelligence (AI), and cloud-based solutions. These innovations are revolutionizing the way facilities are managed, enhancing efficiency, reducing costs, and improving overall operational effectiveness.
- Infrastructure Development: Governments worldwide are intensifying their investments in infrastructure projects, including transportation, healthcare, and educational facilities. This surge in infrastructure development is creating a robust demand for facility management services to ensure the optimal operation and maintenance of these assets.
- Sustainability Initiatives: Growing environmental concerns and sustainability goals are compelling organizations to adopt sustainable practices in their facilities. Facility Management Market providers are playing a crucial role in helping businesses reduce their environmental footprint, lower energy consumption, and adhere to sustainability standards.
- Outsourcing Trends: An increasing number of businesses are opting to outsource their facility management operations to specialized service providers. This trend is driven by the desire to focus on core competencies while entrusting facility management experts to handle the complexities of maintaining their infrastructure.
Facility Management Market Outlook:
The global Facility Management Market is expected to experience robust growth over the forecast period. As technology continues to evolve and governments worldwide invest in infrastructure, the demand for efficient and sustainable facility management solutions is set to soar. Moreover, the market’s outlook is characterized by:
- Increased Adoption of IoT: The integration of IoT devices for real-time monitoring and predictive maintenance is expected to become a standard practice in facility management, enhancing operational efficiency and reducing downtime.
- Expansion of Cloud-Based Solutions: Cloud-based facility management software is gaining traction, offering scalability, flexibility, and cost-effectiveness. This trend is likely to persist as organizations seek centralized and accessible solutions.
- Focus on Sustainability: Sustainable facility management practices will remain a priority, driven by regulations and corporate responsibility. Providers will continue to develop solutions that support environmental conservation.
- Strategic Partnerships: Key players in the Facility Management Market are anticipated to engage in strategic partnerships, acquisitions, and collaborations to broaden their service offerings and global reach.
Facility Management Market Key Players:
The global Facility Management Market boasts a roster of influential players, including:
- CA Technologies
- IBM Corporation
- Oracle Corporation
- SAP SE
- FM: Systems
These industry leaders are driving innovation and shaping the future of facility management through their expertise and technological prowess.
To get market data, market insights, financial statements and a comprehensive analysis of the Global Facility Management Market, please Contact Verified Market Research®.
Based on the research, Verified Market Research® has segmented the global Facility Management Market into Offering, Deployment Mode, End User, And Geography.
- Facility Management Market, by Offering
- Facility Operations and Security Management
- Facility Environment Management
- Facility Property Management
- Professional Services
- Managed Services
- Facility Management Market, by Deployment Mode
- Facility Management Market, by End User
- Banking, Financial Services, and Insurance (BFSI)
- IT and Telecom
- Government and Public Administration
- Energy and Utilities
- Construction and Real Estate
- Facility Management Market, by Geography
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- Latin America
- North America
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