About Facility Management System
Facility management helps the system to manage repair and maintain program. In other words, facility management is a system of coordinating physical workplace with people which encompasses equipment maintenance, space planning, and portfolio forecasting. The facility management also includes emergency preparedness and business continuity, environmental sustainability, human factors, communication, project management, quality and many more. According to International Organization for Standardization (ISO) facility management is defined as the organizational function that integrates place, people, process and technology within the environment which improves the quality of life and productivity of core business.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 12.5% |
The companies are now exploring the market by adopting mergers & acquisitions, expansions, investments, new developments in existing products and collaborations as their preferred strategies. The players are also exploring new geographies and industries through expansions and acquisitions so as to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that United States Manufacturers will contribute the maximum growth to Global Facility Management System market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
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) and FM:Systems (United States) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are iOFFICE (United States), Maintenance Connection (United States), JadeTrack (United States), MetricStream (United States), Facility Management express (United States), eMaint (United States), Hippo CMMS (Canada) and FSI (England).
Segmentation Overview
AMA Research has segmented the market of Global Facility Management System market by Type (Asset Management, Workplace & Relocation Management, Strategic Planning Management, Real Estate & Lease Management and Others) and Region.
On the basis of geography, the market of Facility Management System has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Organization Size, the sub-segment i.e. SMEs will boost the Facility Management System market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Industry Vertical, the sub-segment i.e. BFSI will boost the Facility Management System market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Deployment, the sub-segment i.e. On premise will boost the Facility Management System market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Growing Adoption of IoT and Connected Devices and Development of Sustainable Infrastructure in Various Regions
Market Growth Drivers:
Rising Adoption of Cloud Based Solutions and Increasing Need to Maintain Environmental and Regulatory Compliance
Challenges:
Lack of Awareness about the Facility Management System and Lack of Skilled Professionals
Restraints:
Increasing Dependency on In House Facility Management Team
Opportunities:
Changing Organizational Structure and Work Management is Fueling the Market and Rising Demand of Service Outsourcing
Market Leaders and their expansionary development strategies
In August 2023, IFS acquired Ultimo, a cloud-based Field Service Management (FSM) software provider, expanding its offering for asset and maintenance management within the Facility Management System.
In October 2023, IBM Maximo expanded its mobile capabilities. It update introduced enhanced mobile functionalities for work order management, inspections, and asset tracking within the Maximo Facility Management System platform.
According to ISO 41001:2018, the facility management service should demonstrate effective and efficient delivery, and aims to without fail meet the requirements of interested customers/clients and applicable needs .
Key Target Audience
Facility management system providers, Government associations, Research organizations, software vendors and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.