Facility Management is a practice of integrating people, place, process and technology to create coordination between the physical workplace and the human factors of a company or an organization. It includes various activities such as communication, environmental sustainability, project management, leadership and strategy, preparedness and business continuity, real estate and property management and others. Rapid advancement in technology and inclination towards cloud-based services has led to the integration of all these activities on a single platform. The augmentation of industrialization and emergence of the cloud-based facility for management purpose is fueling the expansion of global facility management market.
The increasing demand for efficient facility management services due to the changing work culture in the organizations is one of the major factors driving the global facility management market. Inclination towards the adoption of cloud-based services and the growing trend of outsourcing facility management services is fueling the growth of global facility management market. Increasing collaboration of local facility management service providers with international players is creating new opportunities for facility management market on a global level. The growing focus on building assets and space management systems by organizations, increasing number of commercial real estate properties, rising demand for reduced operational cost in order to pin more focus and investment in the core services of the companies are some of the major factors that are causing the global facility management market to bolster in the forecast period.
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Major Key Players
IBM Corporation (U.S.),
Oracle Corporation (U.S.),
SAP SE (Germany),
EMCOR Group, Inc. (U.S.),
Aramark Corporation (U.S.),
FM System, Inc. (U.S.),
CA Technologies, Inc. (U.S.),
Accruent, LLC (U.S.),
Interserve Plc. (UK),
Trimble, Inc. (U.S.) and others.
Market Research Future (MRFR) has published a report asserting the Global Facility Management Market is anticipated to expand at a CAGR of over 13 % during the forecast period of 2016-2022.
Geographically, the global facility management market is segmented into North America, Europe, Asia-Pacific (APAC) and Middle East and Africa. The global facility management market is anticipated to be dominated by North America due to the high adoption of advanced technology by manufacturing and IT sector in this region. The growing demand for support and maintenance services for plant maintenance and fabrication by manufacturing industries is driving the facility management market in the European region. The changing work environment and rising number of outsourcing companies are causing the expansion of facility management market in the Asia-Pacific region. Increasing demand for cloud-based services by education and other sectors is projected to augment the market of facility management in this region.
Global Facility Management Market can be segmented as follows:
Segmentation by Services: Project Management, inventory management, maintenance management, operation management, and others.
Segmentation by Deployment: on-premise and cloud.
Segmentation by End-Users: Healthcare, Education, Retail, Manufacturing, Real estate, BFSI, Government, IT & telecom and others.
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- Facility management providers
- Managed service providers
- Cloud and network service providers
- Training and consultancy
- Application developers
- Integrated service providers
- Database vendors
- Small & large enterprises
- End users
- Technology investors
- IT vendors
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