Sandy, Utah, USA, Jan. 09, 2023 (GLOBE NEWSWIRE) -- Custom Market Insights has published a new research report titled “Facility Management Market Size, Trends and Insights By Service Type Analysis (Hard services, Soft services, Others), By Industry Vertical Analysis (Healthcare, Government, Education), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2022–2030” in its research database.
“According to the latest research study, the demand for global Facility Management Market size & share was valued at approximately USD 48.49 Billion in 2021 and is expected to reach USD 56.62 billion in 2022 and is expected to reach a value of around USD 121.73 Billion by 2030, at a compound annual growth rate (CAGR) of about 12.5% during the forecast period 2022 to 2030.”
Facility management is a professional management discipline aiming to provide efficient and effective delivery and logistics with other supportive services by intelligent people.
The integration of the physical workplace with an organization’s people and work, including the tasks such as maintenance of equipment, planning and spaces and portfolio forecasting. Facility management basically ensures the functionality, comfort, safety, sustainability and efficiency of the building and the surrounding infrastructure of the work.
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The facility management services include emergency preparation and business continuity, environmental sustainability, human aspects, communication, project management, leadership and strategy. In the building era of Urbanization and industrialization, facility management is the most growing and demanding sector as it has provided maintenance assistance, user management and project management for the last two decades.
The increasing demand for cloud base solutions has pushed the direction of the facility management market across the globe. As facility management is offered by a third party, its demand is expected to improve in the upcoming years as organizations move towards outsourcing facility adoption to focus more on core competency.
(A free sample of the Facility Management report is available upon request; please contact us for more information.)
Our Free Sample Report Consists of the following:
- Introduction, Overview, and in-depth industry analysis are all included in the 2022 updated report.
- The COVID-19 Pandemic Outbreak Impact Analysis is included in the package
- About 220+ Pages Research Report (Including Recent Research)
- Provide detailed chapter-by-chapter guidance on the Request
- Updated Regional Analysis with a Graphical Representation of Size, Share, and Trends for the Year 2022
- Includes Tables and figures have been updated
- The most recent version of the report includes the Top Market Players, their Business Strategies, Sales Volume, and Revenue Analysis
- Custom Market Insights (CMI) research methodology
(Please note that the sample of the Facility Management report has been modified to include the COVID-19 impact study prior to delivery.)
Click Here to Access a Free Sample Report of the Global Facility Management Market @ https://www.custommarketinsights.com/report/facility-management-market/
Market Dynamics
Drivers.
The rising workflow of various organizations is provoking the demand for technologies like big data analytics and cloud computing to manage operational activities with the private details of the company. So, this makes the anticipation of a rise in investment in facility management services in the upcoming years. Furthermore, the organization’s rising focus on improving operational efficiencies, better client experience, and protecting vital information has compelled industries to adopt the facility management service, thereby propelling the demand for the facility management market.
Increases in the adoption of cloud computing: The rising adoption of cloud computing and automation in the industry for enhancing their productivity and operational activities have given anticipation to fuel the demand and eventual sales of facility management.
Increase in government expenditure in the service sector: The demand for the facility management market has risen steadily due to the increase in government expenditure in transportation, energy, construction and others. Their service provider contacts the building management to deliver their services successfully.
Equipment to boost the market in the COVID scenario: The only strategy left for the government was to use facility management during the pandemic to boost the market. The increased awareness of cleanliness, management, maintenance and security has given a push to the demands of the facility management market.
A surge in Infrastructural Investment: The rising focus of government bodies across the globe on the heavy investment in construction and infrastructural growth has given the advantage to boost the market. The propensity to renovate old buildings has presented most services related to the industry, performance, and market growth.
An environment of formalized workflow: In this competitive environment, companies mainly focus on their core competencies and other operational loads are handed to outsourcing. Thus, increasing the demand for maintaining a formalized workflow across various industries can boost facility management applications.
Restraints.
The ongoing changes in the organizational policies to cover the changing business environment and its need eventually result in improper documentation. This creates limitations for the adoption process of modern technologies due to higher cost and time constraints, thereby affecting the sales of the facility management market.
The need for more skilled and well-trained experts in developing countries is also expected to create hindrances in implementing facility management.
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Opportunities.
The popularity of outsourcing facility management is an ongoing trend, forcing the organization to evaluate its operational model to maximize value creation. In most regions like Europe, The Middle East and North America, This trend is driven mainly by the increase in demand for high-quality work experience and better client experience.
Challenges.
The facility management solutions cannot run individually as an isolated solution as Enterprise resource planning (ERP) has witnessed preference in many large organizations. This gives rise to the requirement for the integration of
facility management and ERP system is quite tricky and challenging and can lag behind in catering according to the customer’s expectations.
Key questions answered in this report:
- What is the size of the Facility Management market and what is its expected growth rate?
- What are the primary driving factors that push the Facility Management market forward?
- What are the Facility Management Industry's top companies?
- What are the different categories that the Facility Management Market caters to?
- What will be the fastest-growing segment or region?
- In the value chain, what role do essential players play?
- What is the procedure for getting a free copy of the Facility Management market sample report and company profiles?
Key Offerings:
- Market Share, Size & Forecast by Revenue | 2022−2030
- Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Leading Trends
- Market Segmentation – A detailed analysis by Types of Services, by End-User Services, and by Regions
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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Report Highlights.
In the service type, the facility management market is further categorized into complex, soft, and other services. Among these, complex services hold the dominant position due to the continuous growth of the global infrastructure industry. In addition, the industry also includes cleaning, plumbing, drainage, building fabric maintenance and other services. These services are associated with the building’s physical structure, which is also influenced by the increased construction risk due to urbanization.
By industry verticals, the facility management market is categorized into healthcare, government, education, military and defense, real estate and others. Among these, the real estate sector is the most dominating one throughout the World over the forecast period. This is also characterized by continuous expansion in the construction and development industry.
Regional Snapshot
Asia-Pacific held the dominant position and is anticipated to be in the dominating state during the forecast period of the facility management market. The existence of various organized and unorganized companies in India and China is the main reason behind the regional domination in the market. Moreover, the establishment of multiple firms concentrates more on building a partnership with the local players to provide services to the end users and increase their geographic reach. Apart from this, Europe is predicted to have an increased market share in the upcoming years due to the adoption of preventive measures by the government.
Report Scope
| Feature of the Report | Details |
| Market Size in 2021 | USD 48.49 Billion |
| Projected Market Size in 2030 | USD 121.73 Billion |
| Market Size in 2022 | USD 56.62 Billion |
| CAGR Growth Rate | 12.5 % CAGR |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Prominent Players | Sodexo, CBRE Group Inc , ISS A/S, Compass Group, Aramark , Jones Lang Lasalle Incorporated, Cushman & Wakefield plc., Tenon Group, Johnsons Controls International plc., Dussmann Group , Serco Group PLC, Mitie Group Plc, Veolia Environment, and Others |
| Key Segment | By Service Type Analysis, Industry Vertical Analysis, and Region |
| Report Coverage | Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends |
| Regional Scope | North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America |
| Buying Options | Request tailored purchasing options to fulfil your requirements for research. |
Key Players:
- Sodexo
- CBRE Group Inc
- ISS A/S
- Compass Group
- Aramark
- Jones Lang Lasalle Incorporated
- Cushman & Wakefield plc.
- Tenon Group
- Johnsons Controls International plc.
- Dussmann Group
- Serco Group PLC
- Mitie Group Plc
- Veolia Environment
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(We customized your report to meet your specific research requirements. Inquire with our sales team about customizing your report.)
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Recent Developments.
In June 2020, Sodexo partnered with Bureau Veritas to present a hygiene verification label, Sodexo services which gives quality assurance to consumers. This partnership basically covers the on-site facility management services
along with catering services.
In November 2021 the CBRE Group, Inc. and Turner & Townsend Holdings Limited completed their acquisition in which 60% of the ownership stake was bought by CBRE to enter into the strategic collaboration. Together will serve 46 countries with program management, cost consulting, project management, and advisory consulting services.
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Key Insights from Primary Research/Key Insights & Findings from the report:
- As per the analysis shared by our primary respondents, the Facility Management market is expected to grow annually at a CAGR of around 10.5 %.
- Through primary research, it was established that the Facility Management market was valued at around USD 1.5 Billion in 2021.
- Based on type segmentation, gas chromatography (GC) and high-performance liquid chromatography (HPLC) were predicted to show maximum market share in the year 2021.
- The key factor driving the market is the legalization of cannabis use for recreational and medical purposes will be the primary force behind future market trends.
- The “North America” region will lead the global Facility Management market during the forecast period 2022 to 2030.
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Facility Management Market: Facility Management Market Size, Trends and Insights By Service Type Analysis (Hard services, Soft services, Others), By Industry Vertical Analysis (Healthcare, Government, Education), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2022–2030
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Segments covered in the report
By Service Type Analysis
- Hard services
- Soft services
- Others
By Industry Vertical Analysis
- Healthcare
- Government
- Education
On the basis of Geography
North America
- The U.S.
- Canada
- Mexico
Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia Pacific
The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of the Middle East & Africa
Latin America
- Brazil
- Argentina
- Rest of Latin America
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This Facility Management Market Research/Analysis Report Contains Answers to the following Questions.
- Which Manufacturing Technology is used for Facility Management? What Developments Are Going On in That Technology? Which Trends Are Causing These Developments?
- Who Are the Global Key Players in This Facility Management Market? What are Their Company Profile, Their Product Information, and Contact Information?
- What Was the Global Market Status of the Facility Management Market? What Was Capacity, Production Value, Cost and PROFIT of the Facility Management Market?
- What Is the Current Market Status of the Facility Management Industry? What's Market Competition in This Industry, Both Company and Country Wise? What's Market Analysis of Facility Management Market by Taking Applications and Types in Consideration?
- What Are Projections of the Global Facility Management Industry Considering Capacity, Production and Production Value? What Will Be the Estimation of Cost and Profit? What Will Be Market Share, Supply and Consumption? What about imports and exports?
- What Is Facility Management Market Chain Analysis by Upstream Raw Materials and Downstream Industry?
- What Is Economic Impact On Facility Management Industry? What are Global Macroeconomic Environment Analysis Results? What Are Global Macroeconomic Environment Development Trends?
- What Are Market Dynamics of Facility Management Market? What Are Challenges and Opportunities?
- What Should Be Entry Strategies, Countermeasures to Economic Impact, and Marketing Channels for Facility Management Industry?
Click Here to Access a Free Sample Report of the Global Facility Management Market @ https://www.custommarketinsights.com/report/facility-management-market/
Reasons to Purchase Facility Management Market Report
- Facility Management Market Report provides qualitative and quantitative analysis of the market based on segmentation involving economic and non-economic factors.
- Facility Management Market report outlines market value (USD) data for each segment and sub-segment.
- This report indicates the region and segment expected to witness the fastest growth and dominate the market.
- Facility Management Market Analysis by geography highlights the consumption of the product/service in the region and indicates the factors affecting the market within each region.
- The competitive landscape incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled.
- Extensive company profiles comprising company overview, company insights, product benchmarking, and SWOT analysis for the major market players.
- The Industry's current and future market outlook concerning recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging and developed regions.
- Facility Management Market Includes in-depth market analysis from various perspectives through Porter's five forces analysis and provides insight into the market through Value Chain.
Reasons for the Research Report
- The study provides a thorough overview of the global Facility Management market. Compare your performance to that of the market as a whole.
- Aim to maintain competitiveness while innovations from established key players fuel market growth.
What does the report include?
- Drivers, restrictions, and opportunities are among the qualitative elements covered in the worldwide Facility Management market analysis.
- The competitive environment of current and potential participants in the Facility Management market is covered in the report, as well as those companies' strategic product development ambitions.
- According to the component, application, and industry vertical, this study analyzes the market qualitatively and quantitatively. Additionally, the report offers comparable data for the important regions.
- For each segment mentioned above, actual market sizes and forecasts have been given.
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Who should buy this report?
- Participants and stakeholders worldwide Facility Management market should find this report useful. The research will be useful to all market participants in the Facility Management industry.
- Managers in the Facility Management sector are interested in publishing up-to-date and projected data about the worldwide Facility Management market.
- Governmental agencies, regulatory bodies, decision-makers, and organizations want to invest in Facility Management products' market trends.
- Market insights are sought for by analysts, researchers, educators, strategy managers, and government organizations to develop plans.
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