Global Facilities Management Market Overview:
Facility management is a multidisciplinary field dedicated to the coordination of infrastructure, space, organization, and people. It is often associated with the administration of office blocks, sporting complexes, schools, shopping complexes, hotels, manufacturing, hospitals, and convention centers among others. The supportive government initiatives for the development of smart cities and the increasing adoption of smart connected devices and IoT for building automation are the major factors supporting facilities management market growth. Moreover, growing demand from the developing economies expected to fuel market growth during the forecasted period.
As per latest study released by AMA Research, the Global Facilities Management market is expected to see growth rate of 11.41%Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Forecast Period | 2022-2027 |
Historical Period | 2017-2021 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
Growing Adoption of Cloud-Based Facilities Management Solutions and Emphasizing On Implementation of Digital Twin Technology in Facility Asset Management Solutions
Market Growth Drivers:
Increasing Adoption of Smart Connected Devices and IoT for Building Automation and Emergence of the SaaS Deployment Model for Facilities Management Solutions
Challenges:
Lack of Awareness Regarding Facility Management Solutions
Restraints:
Lack of Skilled Professional to Adopt New Technology
Opportunities:
Growing Focus on Integrating Building Information Modeling with Facility Management Solutions and Rising Demand from the Developing Economies
Competitive Landscape:
Some of the key players profiled in the report are IBM (United States), Oracle (United States), SAP (Germany), MCS Solutions (Belgium), ARCHIBUS (United States), Trimble (United States), CA Technologies (United States), Accruent (United States), Planon (Netherlands), FM Systems (United States), Maintenance Connection (United States), JadeTrack (United States), MetricStream (United States), Facility Management eXpress (United States), Indus Systems (United States), Autodesk (United States), Nemetschek (Germany), OfficeSpace (United States), FacilityONE Technologies (United States) and Apleona (Germany). Additionally, following companies can also be profiled that are part of our coverage like EMaint (United States), Hippo CMMS (Canada), FSI (United Kingdom), Archidata (Canada), iOFFICE (United States) and Genius Consultants Ltd. (India). Analyst at AMA Research see United States Players to retain maximum share of Global Facilities Management market by 2027. Considering Market by Organization Size, the sub-segment i.e. SMEs will boost the Facilities Management market. Considering Market by Industry Vertical, the sub-segment i.e. BFSI will boost the Facilities Management market. Considering Market by Service, the sub-segment i.e. Deployment and Integration will boost the Facilities Management market. Considering Market by Deployment, the sub-segment i.e. On-Premises will boost the Facilities Management market. Considering Market by Solution, the sub-segment i.e. Integrated Workplace Management System will boost the Facilities Management market.
2nd January 2019, Genius consultants, an Indian consulting and manpower outsourcing company launched facility management service (FMS) to expand its service portfolio.
“The European standards for facilities management offers a definition in EN15221-1, provided by the European Committee for Standardization (CEN) and ratified by 31 European countries as: “the integration of processes within an organization to maintain and develop the agreed services which support and improve the effectiveness of its primary activities. According to this European standard, the scope of FM is 'Space & Infrastructure' (planning, design, workplace, construction, lease, occupancy, maintenance, furniture, cleaning, etc.) and 'People & Organization' (catering, ICT, HR, HS&S, accounting, marketing, hospitality, etc.)”
What Can be Explored with the Facilities Management Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Facilities Management Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Facilities Management
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Facilities Management market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Facilities Management market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Facility Management Solution Providers, Managed Service Providers, Integration Service Providers, Cloud Service Providers, Facility Management Service Providers, Building Automation Solution Providers, Architects, Engineers, and Contractors, Consultancy Firms and Advisory Firms, Regulatory Agencies and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.