Facility Management Market to Reach 1.62 trillion by 2027; Demand for Improved Workplace Infrastructure will Create Several Opportunities for Market Growth, says Fortune Business Insights™

Key Companies Covered in Facility Management Market Research Report Are Sodexo (France), CBRE Group, Inc. (United States), ISS A/S (Denmark), Compass Group (United Kingdom), Aramark (United States), Jones Lang LaSalle Incorporated (United States), Cushman & Wakefield plc. (United States), Tenon Group (India), Johnson Controls International plc. (Ireland), Dussmann Group (Germany).c

Pune, Dec. 10, 2020 (GLOBE NEWSWIRE) -- The global facility management market size is projected to reach USD 1.62 trillion by 2027. Recent technological advances have played a huge role in the growth of the overall market. According to a report published by Fortune Business Insights, titled “Facility Management Market Size, Share & COVID-19 Impact Analysis, By Service Type (Hard Services, Soft Services, and Others Services), By Industry (Healthcare, Government, Education, Military & Defense, Real Estate and Others) and Regional Forecast, 2020-2027,” the market was worth USD 1.24 trillion in 2019 and will exhibit a CAGR of 4.0% during the forecast period, 2020-2027.

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Facility management covers a wider range of business aspects including maintenance, support, project management, and user management. The rising investments in the development of efficient management services will help the companies improve the overall business. This service will ensure safety and comfort in the workplace and subsequently enhance the quality of the work environment. Facility management is used to enable seamless business functions; a factor that has influenced its widespread use. The global facility management market derives growth from the massive technology investments as well as advances in the deployment of advanced concepts by major companies across the world. The rising demand for an improved workplace environment and the increasing awareness regarding workplace safety will create several growth opportunities for the companies operating in the market.

Covid-19 Impact will Provide Several Growth Opportunities for Facility Management Providers

The COVID-19 pandemic has created a sense of panic among people across the world. Accounting to the rapid spread of the disease, governments across the world has imposed lockdowns. Moreover, the practices followed by people to curb the spread of the disease have led to a shutdown in businesses. Having said that, several corporate offices are resuming operations under certain conditions and this will subsequently create several opportunities for the companies in the facility management market. The demand for sanitized and safe workplaces due to the coronavirus outbreak will bode well for the growth of the overall market in the immediate future.

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Increasing Number of Company Mergers and Acquisitions will Emerge in Favor of Market Growth

The report encompasses several factors that have contributed to the growth of the overall market in recent years. Among all factors, the increasing number of company mergers and acquisitions has made the highest impact on the growth of the market in recent years. It is observed that the rising demand for facility management services has encouraged companies to collaborate with each other to make use of the resources of its counterparts. This helps both the companies and provides a platform for generating huge revenue. In January 2020, Algeco Group announced that it has completed the acquisition of France-based Altempo. The company will look to expand its portfolio in the European market and this acquisition will help the company extend its customer base in France. Through this acquisition, the company will look to capitalize on the rising demand for improved infrastructure across France.

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Asia Pacific to Emerge Dominant; Presence of Numerous Organized Companies in Emerging Countries

The report analyses the latest market trends across five major regions, including North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Among all regions, the market in Asia Pacific is projected to emerge dominant in the coming years. The presence of several large scales organized as well as un-organized companies in emerging countries such as India and China will emerge in favor of market growth. The rising efforts put in by established companies to make use of local services as well as manpower in densely populated countries across this region will contribute to the growth of the regional market. As of 2019, the market in Asia Pacific was worth USD 476.38 billion and this value will rise considerably in the coming years. Besides Asia Pacific, the market in North America will rise considerably driven by rising investments in workplace environment and infrastructure.

List of the Companies Operating in Facility Management Market are:

•             Sodexo (France)
•             CBRE Group, Inc. (United States)
•             ISS A/S (Denmark)
•             Compass Group (United Kingdom)
•             Aramark (United States)
•             Jones Lang LaSalle Incorporated (United States)
•             Cushman & Wakefield plc. (United States)
•             Tenon Group (India)
•             Johnson Controls International plc. (Ireland)
•             Dussmann Group (Germany)

Industry Developments:

May 2019: Dussman Group announced that it has completed the acquisition of STS Group. Through this company, Dussman will look to maximize the resources of STS and subsequently establish a wider consumer base.

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Detailed Table of Content

  • Introduction
    • Definition, By Segment
    • Research Approach
    • Sources
  • Executive Summary
  • Market Dynamics
    • Drivers, Restraints and Opportunities
    • Emerging Trends of Market
  • Key Insights
    • Macro and Micro Economic Factors
    • Key Technological Developments
    • Consolidated SWOT Analysis of Key Players
    • Porter’s Five Forces Analysis
    • Impact Analysis of Covid-19 on the Market
  • Global Facility Management Market Analysis, Insights and Forecast, 2016-2027
    • Key Findings / Summary
    • Market Sizing Estimations and Forecasts – By Service Type (Value)
      • Hard Services
      • Soft Services
      • Other Services
    • Market Sizing Estimations and Forecasts – By Industry (Value)
      • Healthcare
      • Government
      • Education
      • Military & Defence
      • Real Estate
      • Others (IT & Telecommunication, BFSI, etc.)
    • Market Analysis, Insights and Forecast – By Region (Value)
      • North America
      • Europe
      • Asia Pacific
      • Middle East and Africa
      • Latin America

TOC Continued..

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