Facility Management Market size was valued at US$ 51.61 Bn . in 2021 and the total revenue is expected to grow at CAGR 11.20% , reaching nearly US$ 107.29 Bn in 2029.
Facility Management Market Overview:
The Facility Management Market study gives a complete picture of the competition, including the market share and company profiles of the key competitors in the global industry. The scope of the research includes a thorough investigation of the Facility Management Market , as well as the reasons for variations in the industry’s growth in various locations.
Facility Management Market Scope:
This market report makes extensive use of secondary sources, directories, and databases, such as annual reports, press releases, journals, company websites, and other databases, to discover and collect excerpts acceptable for this study.
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Facility Management Market Drivers:
Cloud-based facility management offers reduced operating costs, secure hosting of critical data, quick disaster recovery, improved security, and scalability. These factors are expected to drive market growth.
Outsourcing of facility management is continuously growing in popularity and before outsourcing they review the mix of insourcing, outsourcing on basis of cost, capability, and coverage. Outsourcing is contributing significantly to market growth.
Increased investment in infrastructure by governments in several countries and signing contracts with players to link and complete their infrastructure internally and globally as well is driving the market growth of facility management.
Facility Management cannot be used as a complete solution in facility digital architecture as it is required to be integrated with ERP systems which are complicated tasks due to complex features. This factor is restraining the growth of the market.
Facility Management Market Segmentation:
by Solutions
Facility Property Management
Integrated Workplace Management System
Facility Environment Management
Facility Operations & Security Management
Building Information Modeling
by Services
Consulting
SLA Management
Deployment & Integration
Auditing & Quality Assessment
Support & Maintenance
by Deployment Type
Cloud
On-Premises
by Organization Size
Small & Medium Enterprises
Large Enterprises
by Vertical
BFSI
Education
IT & Telecom
Publications & Research
Retail
Manufacturing
Healthcare
Government & Public Administration
Energy & Utilities
Construction & Real Estate
Others
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Facility Management Market Key Players :
The entire method entails an examination of the key market players’ financial reports. Following the assessment of the overall market size, the market was segmented into several segments and sub-segments and validated by key industry professionals such as CEOs, VPs, directors, and marketing executives. The biggest players in the Facility Management Market are as follows:
5. Accruent
6. MRI Software
7. Planon
8. ServiceChannel
9. Service Works Global
10. FMX
11. Causeway Technologies
12. FM: Systems
13. Space well
14. iOFFICE
15. FSI
16. ARCHIBUS
17. Archidata
18. JadeTrack
19. UpKeep Maintenance Management
20. Apleona
21. FacilityONE Technologies
22. OfficeSpace Software
23. Facilio
24. eFACiLiTY
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Regional Analysis:
Individual market influencing elements and changes in market laws that influence present and future market trends are also included in the geographical overview of the Facility Management Market study. Current and future trends are examined in order to assess the entire market potential and uncover profitable trends in order to get a more stable footing. The geographical market assessment is based on the present environment and expected developments.
COVID-19 Impact Analysis on Facility Management Market :
Due to a break in operations, end-user sectors where Facility Management Market are used had a decline in growth from January to May in various countries, including China, Italy, Germany, the United Kingdom, the United States, Spain, France, and India. This resulted in a large drop in the revenues of firms operating in these industries and, as a consequence, in demand for Facility Management Market manufacturers, affecting the development of the Facility Management Market in 2020. End-user business demand for Facility Management Market has dropped considerably as a result of lockdowns and a rise in COVID-19 incidents throughout the world.
Key Questions Answered in the Facility Management Market Report are:
- Which segment had the largest share in the Facility Management Market in 2021?
- What is the competitive landscape of the Facility Management Market ?
- Which are the key drivers aiding the Facility Management Market growth?
- Which region has the maximum share in the Facility Management Market ?
- What will be the CAGR of the Facility Management Market during the forecast period (2022-2027)?
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