Facility Management Market Size to Surpass USD 2,031.4 Billion by 2030
According to the report, The global facility management market size hit USD 1,260.0 billion in 2022. The market valuation is slated to rise from USD 1,291.6 billion in 2023 to USD 2,031.4 billion by 2030 at a 6.7% CAGR during the forecast period
The Factor that drives the growth of the market is the growing adoption of the outsourced services by different industrial sectors. Furthermore, the increasing focus on the adoption of the recycling processes for managing the wastes by the government also positively affects the growth of the facilities management market.
Global Facilities Management Market: Overview
Facilities management market aims to attain efficient and effective delivery of a variety of support facilities for various firms. It mainly coordinates among the demand and supply services between private and public companies. The current cutthroat setting has compelled in decreasing the expenditure in various sectors such as manufacturing, corporate, residential, or educational. Facilities management supports to attain the services of maintenance, security, and cleaning. These services support the organizations to decrease maintenance and operations costs. Increasing government controls/authority on waste management system has constrained several companies to majorly incline towards facilities management for a better and improved long-term support of surroundings and their associations.
Global Facilities Management Market: Growth Factors
By using facilities management solutions the efficiency of various business processes gets improved. By managing and maintaining the business processes the services offered by the organization enhances. With the help of the facilities management solutions, the organizations get the opportunity to provide quality services to their consumers. Owing to these benefits there is an increased adoption of the facilities management solutions in the large enterprises thus driving the growth of the facilities management market. The other factor that drives the growth of the market is the growing adoption of the outsourced services by different industrial sectors. Furthermore, the increasing focus on the adoption of the recycling processes for managing the wastes by the government also positively affects the growth of the facilities management market.
Global Facilities Management Market: Segmentation
In terms of types, the global facilities management market is classified into services and solution. In terms of organization size, the global market is categorized into small and medium enterprises & large enterprises. Solutions type division is further divided into maintenance management, relocation & workplace management, asset management, lease management & real estate, strategic planning management, and others. In terms of deployment types, the facilities management market is divided into on-premise and cloud. In terms of verticals, the market is divided into real estate, government, BFSI, manufacturing, healthcare, telecom & IT, retail, and others.
Global Facilities Management Market: Regional Analysis
Europe anticipates leading the global facilities management market. It is projected to grow at a higher rate in the coming future. This is primarily due to the growing demand and popularity for support and maintenance by developing ventures and projects in the region. With the increasing demand and popularity for a range of various types of specific services, for instance, plant maintenance, fabrication, and HVAC the demand for the facility management solutions will increase in the coming years. Countries such as the U.K. and Germany are contributing a major share in the European facilities management market. Additionally, Asia Pacific anticipates witnessing a rapid market growth in the coming years owing to the increased adoption of the facilities management solutions by the end-user industries.
Global Facilities Management Market: Competitive Players
Some of the most important market players in the global facilities management market are -
- Accruent
- Archibus
- iOffice Corporation
- CA Technologies
- IBM Corporation
- FM Systems
- Oracle Corporation
- Planon Corporation
- Trimble
- SAP SE
Global Facilities Management Market: Regional Segment Analysis
- North AmericaThe U.S.
- EuropeThe UKFranceGermany
- The Asia PacificChinaJapanIndia
- Latin AmericaBrazil
- The Middle East and Africa
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- Market share analysis
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- Emerging segments and regional markets
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