Facility Management Market Overview :
Global Facility Management Market is estimated to reach $52.9 billion by 2026, forecast to grow at a CAGR of 9.1% during 2021-2026. Increasing penetration of outsourced facility management services has increased significantly on a global scale over the last two decades. Nowadays customers expect their facility management service provider to have wide knowledge of the corporate mission, and the competency to address the customer’s specific needs, which is expected to drive the market in the long term. Facility management providers are expanding with their expansion of the facility management outsourcing market. The facility management providers are majorly focusing on finding new and innovative ways to make facility assets and services not only relevant but also critical to enhance the customer’s experience, business administration, occupation physiology, and enabling their core business. Property management service offers with property owner’s short, including long term financial objectives. Service and solution providers develop a strategic property operations plan founded in a zero-based operating budget and capital plan for the customers. Facility management experienced property managers and accounting professionals work closely with the engineering sciences staff to monitor and manage all operating costs to achieve the greatest possible return on investment.
Report Coverage :
The report: “Facility Management Market – Forecast (2021-2026)”, by IndustryARC covers an in-depth analysis of the following segments of the Facility Management Market.
By Solution: Integrated Workforce Management System, Facility Operations & Security Management, BIM, Facility Environment Management, Facility Property Management.
By Service: Deployment and Integration, Consulting, Auditing & Quality Assessment, Support and Maintenance and Service Level Agreement Management.
By Deployment Type: Cloud, On Premises.
By Organization Size: Large Enterprises, Small and medium sized enterprises.
By End Use Industry: IT and Telecom, Government and Public Administration, Healthcare, Education, Retail, Energy and Utilities, Manufacturing, Construction and Real Estate.
By Geography: North America (U.S, Canada and Mexico), South America (Brazil, Argentina and Rest of South America), Europe (U.K, Germany, Italy, Spain, Netherlands, France and Rest of Europe), Asia Pacific (China, Japan, India, South Korea, Australia and Rest of APAC),RoW (Middle East and Africa).
Key Takeaways :
North America and Europe have the highest market penetration for integrated facility management in 2020.
High security and stringent regulation have an opportunity for the management teams to deploy technological solutions which can enhance the facility management process at the time of extenuating the associated risk.
Outsourcing on-demand facilities management services offer major benefits over creating a team in-house and handling on-demand needs for customer facility
Different regulatory bodies are encouraging companies to maintain proper industry standards and mandate for all business processes. These regulatory bodies have played a major role in ascribing to a large number of customers across various end-user verticals.
Facility Management Market Landscape :
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Facility Management market. In 2020, the market of Facility Managementhas been fragmented by the top five players accounting more than 35% of the share. Major players in the Facility Management market are, Apleona, Archibus, CA Technologies, Autodesk, SAP, Oracle, Trimble, Planon, Jadetrack, Metricstream, andamong others.