Dublin, Aug. 23, 2022 (GLOBE NEWSWIRE) -- The "Facility Management Services Market by Service Type, Type, End-user: Global Opportunity Analysis and Industry Forecast, 2020-2030" report has been added to ResearchAndMarkets.com's offering.
The facility management services market was valued at $1,253.3 billion in 2020, and is expected to reach $2,525.1 billion by 2030, registering a CAGR of 7.1% from 2021 to 2030. Facility management services expand the worth of the building by offering different maintenance solutions.
Furthermore, these services offer more noteworthy returns over the real estate investments to landowners through administration and value-added solutions. The facility management services uphold functional and financial goals of proprietors. The services include applications, such as security, plumbing, finishing, electrical arrangements and cleaning for different uses.
The global facility management services market experiences growth due to rise in urbanization and industrialization. The growing urbanization leads to growing tourism and hospitality industry. In addition, different industries like petroleum, mining, transportation, and pharmaceutical are growing due to rise in urbanization.
The huge industrial sector requires the timely maintenance of industrial facilities, which drives the growth of the facility management services market. In addition, different organizations have goals regarding safeguarding their assets that require huge investment and safeguarding them requires maintenance solutions. This is expected to drive the growth of the market. Moreover, the development of mega projects in different countries is growing, which demands for timely maintenance owing to greater investment and spending. Hence, such investments are expected to drive the growth of the facility management services market.
However, adoption of outsourced facility management services over in-house facility management services restrains the growth of the facility management services market. In addition, lack of education in developing countries leads to lesser skilled workforce, which leads to low understanding of the facility management services. Hence, the lower awareness is expected to hamper the growth of the facility management services market.
Advancement of technology owing to use of Internet of Things (IoT) provides better security, is predicted to create lucrative opportunities for companies operating in the market. In addition, different initiatives by governments lead to rise in investments over commercial and railway projects. This in turn, is expected to offer new opportunities for the facility management service providers.
Key Market Segments
By Service Type
- Cleaning
- Security
- Catering
- Others
- Property
By Type
- Outsourced
- In-house
By End-user
- Commercial
- Institutional
- Public/Infrastructure
- Industrial
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- France
- U.K.
- Italy
- Rest of Europe
- Germany
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Rest Of Asia Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- BVG India
- Group Atalian (Arthur McKay & Co Ltd.)
- CBRE Group, Inc.
- EMCOR Group, Inc.
- ISS World Services A/S
- Knight Facilities Management
- Quess Corp Ltd
- Sodexo, Inc.
- Downer Group (Spotless Group)
- Tenon Group
Key Topics Covered:
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: FACILITY MANAGEMENT SERVICES MARKET, BY SERVICE TYPE
CHAPTER 5: FACILITY MANAGEMENT SERVICES MARKET, BY TYPE
CHAPTER 6: FACILITY MANAGEMENT SERVICES MARKET, BY END-USER
CHAPTER 7: FACILITY MANAGEMENT SERVICES MARKET, BY REGION
CHAPTER 8: COMPANY LANDSCAPE
CHAPTER 9: COMPANY PROFILES
For more information about this report visit https://www.researchandmarkets.com/r/a6adca
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