Market Research Future (MRFR) Announces the Publication of its Research Report – Global Facility Management Market 2016-2022.
Facility management is a process required to build coordination between physical workplace and people of an organization to provide positive and pleasing work environment for employees as well as clients & customers. It integrate business administration, infrastructure, and behavioral principles of a management. The key responsibilities associated with facility management includes building or property management, support services, engineering services, floors planning, operation management, and many others. Also, by managing the provided facilities, the management can maintain the assets and lifespan of the components associated with the infrastructure.
The rising need for support & maintenance services by manufacturing industries, changing work culture, growing adoption of cloud technology, rising trend of outsourcing facility management services, growing commercial real estate business are some of the factors driving growth of facility management market during forecast period 2016-2022.
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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.)
According to Market Research Future Analysis, The Global Facility Management market is estimated to reach around USD 60 billion by 2022 growing with approximately 13% CAGR during forecast period 2016-2022.
Commenting on the report, an analyst from Market Research Future (MRFR)’s team said:
“Among the wide application in end-user sectors, Real estate is expected to occupy largest market share due to high demand of high-tech commercial infrastructure especially in developing region. Legal document inspections, physical property review, and market analysis are some of the major concern of real estate facility manager. However, lack of awareness regarding facility management solutions available in the market is expected to hinder the growth of facility management market in the forecast period 2016-2022”
According to the report, geographically, North America is expected to boost the market growth of facility management tools & services in the forecast period 2016-2022 due to availability of highly advanced infrastructure in the region. U.S. is expected to hold largest market share in facility management due to early adoption of facility management services which is developing a positive and productive environment in an organization. Europe, on the other hand is expected to increase its market share in facility management market in the upcoming years due to growing demand of support & maintenance services among manufacturing and technical sectors. Further, Asia-Pacific is expected to be the fastest growing market in facility management as education and residential sectors is demanding for soft service management and growth in retail and hospitality sectors in the region.
Market research Future has segmented the global Facility Management Market into its various services, deployment and end-users. By services, facility management market is classified into Project Management, inventory management, maintenance management, operation management. By deployment, facility management market is categorized into on-premise, and on-cloud. By end-users, the market is divided into Healthcare, Education, Retail, Manufacturing, Real estate, BFSI, Government, IT & telecom and others.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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Regional Analysis of Facility Management Market:
North America is expected to dominate the facility management market during the forecast period 2016-2022 due to high adoption of technology advancement by manufacturing & IT sectors thereby lead to early adoption of facility Management services by companies in the region. Europe is also considered to support North America in generating high revenue for facility management market. The growing demand for support & maintenance services by manufacturing industry for services namely plant maintenance, and fabrication is expected to drive the market in the region. Furthermore, Asia-Pacific is expected to be the fastest growing market for facility management during the forecast period 2016-2022 due to changing work environment in the region. Also, increasing cloud based deployment among organizations and rising demand for soft services by education and residential sector is projected to increase the market of facility management in the region.
- 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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