What is the global market size of Facility Management Market?

Facility Management Market size was valued at USD 43.5 billion in 2021 and is poised to grow from USD 54.05 billion in 2022 to USD 119.4 billion by 2030, growing at a CAGR of 11.8% in the forecast period (2023-2030).

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 2024-2031

Report ID: SQMIG20L2037 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 151 | Figures: 78

Global Facility Management Market Insights

Facility Management Market size was valued at USD 43.5 billion in 2019 and is poised to grow from USD 54.05 billion in 2023 to USD 119.4 billion by 2031, growing at a CAGR of 11.8% in the forecast period (2024-2031).

According to the International Facility Management Association (IFMA), facility management is the integration of a physical workplace with a company's workforce and involves activities like equipment upkeep, space planning, and portfolio forecasting. These services include leadership & strategy, real estate & property management, project management, quality, human factors, environmental sustainability, emergency planning & business continuity, and others. On the other hand, the study mainly focuses on the technological side of management services, including software and services that aid in enhancing the efficacy and efficiency of facility management. This industry, which is described as offering maintenance help, user management, and project management, has grown significantly over the past 20 years as a result of the first development in urbanisation and industrialization.

The productivity and efficiency of organisations are influenced by a variety of elements that are included in facility management. A benchmark for creating and advancing efficient strategic, tactical, and operational FM principles around the world is the new management system standard, which complies with industry best practises. The FM sector's services have become incredibly commoditized. Additionally, because end-user sectors are highly price-sensitive, contracts are designed to be shorter in duration. The oversupply of commercial real estate has put pressure on rent yields, which has caused clients to reduce their spending on FM services.

US Facility Management Market is poised to grow at a sustainable CAGR for the next forecast year.

Global Facility Management Market Report Snapshots

License Type Top market research company in USA

File Type

$5,300

BUY NOW GET FREE SAMPLE

Want to customize this report?

Our industry expert will work with you to provide you with customized data in a short amount of time.

REQUEST FREE CUSTOMIZATION

FAQs

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. 'IBM Corporation', 'Oracle Corporation', 'SAP SE', 'Trimble, Inc.', 'Archibus, Inc.', 'Accruent LLC', 'CA Technologies', 'Planon Corporation', 'FM:Systems Group LLC', 'iOFFICE, Inc.', 'Autodesk, Inc.', 'Johnson Controls International PLC', 'JLL', 'CBRE Group, Inc.', 'ISS World Services A/S', 'Sodexo', 'Compass Group PLC', 'Aramark Corporation', 'G4S plc', 'Mitie Group plc'

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.

Rise in Cloud Hosting: Currently, hosting facilities management software on the cloud is safe and secure. By fostering greater security and co-operation 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.

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.

Feedback From Our Clients

"We have purchased recently a report from SkyQuest Technology, and we are happy to inform you that this report was so useful and practical for our team. Skyquest Team was very active and our queries were followed up completely.It was amazing. "

- Mr. Ali Zali, Commercial Director, ICIIC Iran.

Global Facility Management Market Insights

Global Facility Management Market Report Snapshots

Want to customize this report?

FAQs

What is the global market size of Facility Management Market?

Who are the key vendors in the Global Facility Management Market?

What is the key driver of Global Facility Management Market?

What is the key market trend for Global Facility Management Market?

Which region accounted for the largest share in Global Facility Management Market?

Request Free Customization

Related Reports

Feedback From Our Clients

$5,300