Global Facility Management Market Size, Share, Growth Analysis, By Service Type(Hard Services, Soft Services), By End-User(Public Sector, BFSI), By Component(Solutions (IWMS, BIM), By Deployment(Cloud, On-premises), By Enterprise Size(Large Enterprises, Medium Enterprises) - Industry Forecast 2022-2028

The Global Facility Management Market is segmented based on the Service type, Component, Enterprises Size, Deployment, End-User and region. Based on service type the market is segmented into hard services, soft services, other services Based on Component the market is segmented into Solutions (IWMS, BIM, Facility Operations and Security Management) and Services. Based on Deployment the market is segmented into Cloud, On-premises. Based on End-User the market is segmented into Public Sector, BFSI, Manufacturing, IT, Telecom, Healthcare, Retail, Education, Others. Based on Enterprise Size The market is segmented into Large Enterprises, Medium Enterprises, Small Enterprises. Based on Region it is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.

Analysis by Service Type

The market is divided into hard services, soft services, and other services based on the type of service provided. A significant portion of the market share will likely belong to the hard services category as a result of the global infrastructure market's continued expansion. This industry also includes cleaning, plumbing and drainage, building fabric maintenance, and other hard services. The physical framework of the building is linked to these services. The rapidly expanding building and construction industry as a result of global urbanisation is also a major driver of the hard services market. Additionally, the fastest-growing sub-segment within the service type category, soft services, is anticipated to experience significant growth during the projected period. Additionally, this rise has been attributed to increased investments in the waste management, energy management, wastewater management, and other green energy management businesses.

Analysis by End-Users

The market is divided into the healthcare, government, education, military & defence, real estate, and other vertical industries. Over the foreseeable period, it is anticipated that the real estate sector would be driven globally. It is attributable to the building and development industry's ongoing global expansion. In terms of market share, the real estate sector is anticipated to grow significantly, followed by the rest, which primarily consists of companies in the IT, telecoms, and BFSI sectors. Due to the rising adoption of healthcare facilities management services as preventative measures in various nations, it is also projected that the healthcare segment will expand significantly over the projection period. This is due to the government's emphasis on making investments in the domain of infrastructure. There are many different services offered in the educational sector, including management of integrated services, space management, and technological upkeep. The demand for these services that can efficiently provide such services and allow end-users to enhance and focus on their principal operations is strongest in the healthcare and educational sectors.

Owing to the inclusion of several organised and unorganised businesses in China and India, Asia Pacific is predicted to have the largest market presence. Additionally, established businesses are focusing on forging alliances with regional companies to expand their geographic reach and offer their services to end users. Additionally, the market in the nation is being impacted by the expanding use of novel technologies including business strategies and Internet of Things (IoT) evolutions. The facilities management industries in Qatar and Saudi Arabia are expanding significantly, and businesses must reinvent their products to maintain growth and profitability. However, the major sectors most likely to propel the market under study are the residential, commercial, industrial, and public infrastructure sectors.

Healthcare facilities have multiplied across the nation in recent years at a rapid rate, generating considerable business potential for facility management firms. Additionally, a number of government-led efforts are altering the FM market's dynamics, redefining Saudi Arabia's healthcare system, and building stronger institutional structures and regulatory frameworks to encourage private sector investment in healthcare. Furthermore, with to its more favourable market environment and the existence of big Facility Management service providers, South Africa is also one of the most developed marketplaces in Africa. Industry participants are supporting formal training and skill development, enhancing the calibre of service delivery, and promoting FM outsourcing among regional end users by actively engaging in the neighbourhood South African Facilities Management Association (SAFMA).

Furthermore, governments in the Middle East and Africa are expanding their investments in the tourism sector, which is the main driver of the region's market growth, thus both the Middle East and Africa and South America are projected to experience significant growth. Additionally, the South American market is being driven by the region's developing residential, commercial, and economic sectors.

Driver

• Solutions that use the cloud provide a dependable way to host facilities management software. They improve security and collaboration across teams and subsidiaries present in various places, which helps firms lower operating costs. Secure hosting of sensitive data, enhanced security and scalability, and quick disaster recovery are some other benefits of cloud-based facilities management solutions. Because the backups are kept on a private cloud host platform, businesses may quickly retrieve important server data from them. Through secure logins, the data is readily accessible from any location with a reliable internet connection. Additionally improving customer satisfaction and lowering repair and maintenance costs are cloud-based facilities management solutions. As a result, more cloud-based solutions are being used to integrate facility management services, which is expected to drive the growth market expansion.

Restraint

• The advantages of facilities management are not fully appreciated by businesses. The issue is brought on by a failure to comprehend and implement necessary technologies. Many firms have not yet adopted an IoT ecosystem and are still implementing cloud computing technologies. Additionally, they are still in the early stages of switching from traditional workplace layouts to a contemporary one. Despite the fact that facility management is a crucial component of operations, businesses are ignorant of the developing solutions. Due to this, it has become challenging for businesses to give their facilities management department the same priority as their main business processes.

The Facility Management Market is extremely fragmented, and both domestic and foreign competitors have extensive industry knowledge. By utilising their experience, FM vendors are implementing a potent competitive strategy. Additionally, a sizable portion of the money is going toward advertising. The technology that the FM firms are adopting into their offerings are strengthening their service offering.

Top Player's Company Profiles

• Sodexo (France)
• CBRE Group, Inc. (US)
• ISS A/S (Denmark)
• Compass Group (UK)
• Aramark (US)
• Jones Lang LaSalle Incorporated (US)
• Cushman & Wakefield plc. (US)
• Tenon Group (India)
• Johnson Controls International plc. (Ireland)
• Dussmann Group (Germany)
• Serco Group PLC (UK)
• Mitie Group Plc (UK)
• G4S Plc (UK)
• Veolia Environment (France)

Recent Developments

• In June 2022, Imdaad, a group of businesses with headquarters in Dubai that provides integrated, sustainable facilities management services that increase the operational effectiveness of physical assets, has formally established a new joint venture with LMD, a well-known Egyptian real estate company, to offer a full selection of high-quality facility management solutions throughout all of Egypt.
• In February 2022, The facilities management (FM) company Farnek, based in the United Arab Emirates, has developed a new business that offers smart technology solutions for FM. The internally developed HITEK solution 4.0 was first introduced in Q3 of last year. It connects people, assets, and spaces from various remote sites using intelligent analytical platforms for cleaning, security, and maintenance. By utilising the Internet of Things (IoT), Building Management Systems (BMS), Cloud, Machine Learning (ML), and Artificial Intelligence (AI) based technologies, these platforms can be intelligently centrally managed and monitored.

• Currently, hosting facilities management software on the cloud is safe and secure. By fostering greater security and cooperation among teams and subsidiaries spread out over different regions, they also help businesses cut costs. Other benefits of cloud-based facilities management solutions include secure hosting of sensitive data, enhanced security and scalability, and quick disaster recovery. Businesses can immediately access crucial server data because the backups are kept on a public or private cloud hosting platform. Data can be accessible from any location that has a dependable internet connection thanks to secure logins. Customer satisfaction is increased, and repair and maintenance costs are decreased thanks to cloud-based facilities management systems. Because of these benefits, important global market growth is being fueled by the adoption and integration of cloud-based solutions.

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.

According to our analysis, Solutions for facilities management are utilised to lower operating costs and boost productivity across the board. During the anticipated period, the facilities management market is expected to be driven by the growing acceptance of facilities management in the business, residential, and educational sectors. The worldwide facilities management market is also being driven by the soaring need for sanitization, cleaning, spot sterilisation, and workplace-specific sanitization requirements. The need for facilities management services is also being fueled by the growing use of SaaS (Software-as-a-Service) and cloud-based facility management systems.