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Global Facility Management Services Market,by Type (Outsourced, In-house), Service (Hard Service [El

Published Date: | Report Code : IT2168984

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Global Facility Management Services Market,by Type (Outsourced, In-house), Service (Hard Service [Electrical, Civil, Mechanical, Specialized Services], Soft Service [Cleaning, Laundry, Landscaping, Security], Management Service [Contract Management, Energy and Utilities, Maintenance Planning and Control]), Application (Education, Commercial, Transportation, Industrial, Government and Public Sector, Healthcare and Others), and Region (North America, Europe, Asia-Pacific, Middle East and Africa, and South America) — Market Size and Forecasting (2021–2030)

COVID-19 Impact : Our team has been closely monitoring the current developments to identify the potential impact of COVID-19 on stakeholders and business processes across the value chain of industries. A special section about COVID-19 will be covered with the report to help companies in defining sustainable strategies.

Report Code : IT2168984

Status : Published

The Global Facility Management Services Market is estimated to reach USD 41.5 billion in 2021 and is projected to grow at a CAGR of 9.23% during the forecast period till 2030.

Facility management encompasses an organization's building and infrastructure management processes and procedures for ensuring the built environment's functionality. It helps the organization to concentrate on its core competencies by integrating individuals, locations, processes, and technologies.

The growing need to maintain environmental and regulatory compliances and the need for single integrated facility management to balance the companies' economies and financial regulations implementing automation in their facilities are driving the facility management services market growth. The transformation of the physical workplace is another major factor driving market growth. Owing to the rapid cloud computing adoption, many businesses are focusing on virtual workforces and enterprise mobility management.

FIGURE 1: GLOBAL FACILITY MANAGEMENT SERVICES MARKET

Although the market has several growth drivers, some factors can limit the market growth. The lack of facility management software services knowledge among small and midsize enterprises can hinder the market. On the other hand, digital twin technology and asset management strategies provide great potential for the facility management service market.

The facilities management (FM) market is expected to be driven by increased government initiatives for smart city growth. Smart city growth necessitates the new infrastructure construction, which necessitates facilities management services for efficient management and maintenance. Cleaning, security, and landscaping are expected to provide lucrative business opportunities as the number of universities, airports, and hospitals involved in smart city development projects develops.

Market Segmentation

The global facility management services market is segmented based on type, service, application, and region.

FIGURE 2: GLOBAL FACILITY MANAGEMENT SERVICES MARKET SEGMENTATION

Global Facility Management Services Market, by Type

Based on type, the market is bifurcated into outsourced and in-house. The outsourced segment is projected to observe significant growth during the forecast period. The growth can be due to increased pressure on enterprises to focus on core competencies, fuelling the segment growth. Outsourcing assists companies in maximizing their return on investment and establishing long-term market competitive advantages. The leading sectors witnessing increased demand for facilities management outsourcing are healthcare and education.

Global Facility Management Services Market, by Service

Based on service, the market is divided into hard service, soft service, and management service. Hard service bifurcated into electrical, civil, mechanical, and specialized services. Similarly, the soft service segment is divided into cleaning, laundry, landscaping, and security. Management service segment classified into contract management, energy and utilities, and maintenance planning and control. Among these, the hard service segment projected to gain a significant growth rate during the forecast period. This growth is attributed due to a rapid increase in the infrastructural sectors across the globe. In addition, the rapidly growing building & construction industry due to increasing urbanization across the world is the primary factor that driving the hard service segment.

Global Facility Management Services Market, by Application

Based on application, the market is segmented into education, commercial, transportation, industrial, government and public sector, healthcare, and others. The healthcare segment is projected to register significant growth during the forecast period due to government initiatives to improve healthcare centers. Healthcare facilities must respond to service requests quickly and efficiently, preventive maintenance schedules, and keep their operations running smoothly. Hospitals, both public and private, are crowded places with thousands of visitors per day, and the hospital administration faces a significant challenge in managing such a large crowd. The electrical, mechanical, medical, and surgical equipment in hospitals must be kept in working condition to provide effective healthcare services. Hospitals benefit from facilities management services because they allow them to run their operations efficiently and without interruption.

Global Facility Management Services Market, by Region

Based on region, the market is segmented into North America, Europe, Asia-Pacific, the Middle East and Africa, and South America. North America is expected to hold a high market share over the forecast period. This growth can be attributed to the presence of several facility management services vendors in the region. North American companies were among the first to use facility management services. The region's economies are stable and well-established, and it is increasingly investing in R&D to develop emerging technologies such as AI, machine learning, cloud computing, and big data.

The Asia-Pacific region is expected to become the fastest-growing region in the market for facility management services. The regional market growth can be due to increased internet penetration, construction industry development, and a surge in need of better data management.

FIGURE 3: GLOBAL FACILITY MANAGEMENT SERVICES MARKET (USD BILLION), MARKET OVERVIEW, 2021–2030

Recent Developments in the Global Facility Management Services Market

  • In January 2019, Cushman & Wakefield acquired Quality Solutions, Inc. (QSI) to enhance facilities management capabilities. This acquisition helped the Cushman & Wakefield company to expand its coverage across North American markets.
  • In November 2018, SAP introduced Intelligent Asset Management, a technology suite that adds collaborative asset information, planning, prediction, and simulation to equipment maintenance and operations.

Market Players

The key market players operating in the global facility management services market are Business Machines Corp., Oracle Corporation, SAP AC, MCS Solutions Pvt Ltd, ARCHIBUS, Inc., Trimble Inc., CA Technologies, Accruent, Planon Ltd., FM System, Inc., and others.

What Does This Report Provide?

A detailed understanding of the global facility management services market from qualitative and quantitative perspectives during the forecast period. The report also provides dynamic indicators with potential impact on the market and an in-depth analysis of the leading companies operating in the market. The major market drivers, challenges, restraints, and opportunities for the global facility management services market have also been covered in the report.

This report further includes the market shares of the leading companies operating in the global facility management services market, along with their production capacities and the growth strategies adopted by them. An in-depth pricing analysis, patent analysis, and distribution channel analysis have also been covered in the report. Apart from these, how the COVID-19 pandemic has affected the global facility management services market has been analyzed in this study, both in terms of qualitative and quantitative analysis.

Market Segmentation:

By Type 

  • Outsourced
  • In-house

By Service 

  • Hard Service
    • Electrical
    • Civil
    • Mechanical
    • Specialized Services
  • Soft Service
    • Cleaning
    • Laundry
    • Landscaping
    • Security
  • Management Service
    • Contract Management
    • Energy and Utilities
    • Maintenance Planning and Control

By Application 

  • Education
  • Commercial
  • Transportation
  • Industrial
  • Government and Public Sector
  • Healthcare
  • Others

By Region

North America Facility Management Services Market

  • North America, by Country
    • The U.S.
    • Canada
    • Mexico
  • North America, by Type
  • North America, by Service
  • North America, by Application

Europe Facility Management Services Market

  • Europe, by Country
    • Germany
    • The U.K.
    • France
    • Italy
    • Spain
    • Russia
    • The Rest of Europe 
  • Europe, by Type
  • Europe, by Service
  • Europe, by Application

Asia-PacificFacility Management Services Market

  • Asia-Pacific, by Country
    • China
    • India
    • Japan
    • South Korea
    • Australia
    • The Rest of Asia-Pacific 
  • Asia-Pacific, by Type
  • Asia-Pacific, by Service
  • Asia-Pacific, by Application

 Middle East and AfricaFacility Management Services Market

  • Middle East and Africa, by Country 
    • The UAE
    • Saudi Arabia
    • Qatar
    • South Africa
    • The Rest of Middle East and Africa
  • Middle East and Africa, by Type
  • Middle East and Africa, by Service
  • Middle East and Africa, by Application

South America Facility Management Services Market

  • South America, by Country 
    • Brazil
    • Argentina
    • Colombia
    • The Rest of South America
  • South America, by Type
  • South America, by Service
  • South America, by Application

Reasons to Buy This Report:

  • Market size estimation of the facility management services market on a regional and global basis
  • Unique research usage for market size estimation and forecast
  • Profiling of major companies operating in the market with key developments
  • Broad scope to cover all the possible segments helping every stakeholder in the market

Customization:

We provide customization of the study to meet specific requirements:

  • By Segment
  • By Sub-segment
  • By Region/Country

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