Facility Management Market: Summary
The Global Facility Management Market is projected to reach a value of over USD 77.3 billion by 2027 at a CAGR of around 10%.
The facility management refers to a professional management, which is used to improve the business activities. Also, it helps to encompasses various decision to ensure safety, efficiency, comfort and functionally of the environments through integrating people, process and technology. Whereas, it majorly focuses on core services and to offer support which will lead to enhance the quality of services. Also, it helps with the features such as asset tracking and management, as well as with integrated facilities management which will boost adoption for business growth and developments.
Hence, it also analysis and understand different workplace cost drive effective business planning which will also play a key role in the growth of the market.
Facility Management Market: Drivers & Restraints
- Growing Demand for Cloud Based Technologies
With the growing demand for cloud-based technologies is witness to boost the growth of the market in the projected period. Whereas, it helps to provides a centralized database which can access from any location through any device at any time. Also, it support the companies to reduce the cost as to improve the security and collaboration among the team from different location. Moreover, it also helps to boost the user experience by reducing the maintenance and repair costs.
Hence, with the help of cloud technologies the data aggregation and analysis will become exponentially easier. As well as, the cloud-based facility management software is built to be flexible and easily scale up the organization. Other key benefits of cloud-based facility management solutions include security and scalability, as well as quick disaster recovery management. These will lead to fuel the growth of the market in the forecast period.
One of the major key concern of the facility management market is the lack of awareness which may hinder the growth of the market. Whereas, many of the organization are still not adopted Internet of Thing (IoT) based ecosystem, which may lead to create a challenging factor for the market growth. However, the facility management is being an important part of operations, businesses are unaware of the production solutions. As, this has made as complex task for companies to provides an equal importance to their facility management department without hampering the business operation.
Hence, the advantages of facility management are still not recognize by various enterprises which may lead to create a major challenging factor for the growth of the market.
Facility Management Market: Key Segments
- Segmentation based on Component: Solution and Services.
- Segmentation based on Deployment Type: Cloud and On-Premises.
- Segmentation based on Enterprises Size: Small and Medium Size Enterprises and Large Enterprises.
- Segmentation based on End-User: IT and Telecommunication, Government, Healthcare, Education, Retail, Energy and Utilities and Others.
- Segmentation based on region covers: North America, Europe, Asia-Pacific, Middle East & Africa and South America with individual country-level analysis.
Facility Management Market: Report Scope
The report on the facility management market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.
Historical/Estimated/Forecasted Market Size Years
Base Year for Market Calculation
2021-2027 (2021 estimated year, forecasted up to 2027)
Value (USD Million)
Component, Deployment Type, Enterprise Size, End-User and Region
North America, Asia-Pacific, Europe, Middle East & Africa, South America
Key Companies Covered
- IBM Corporation (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
- SAP SE
- Trimble Inc.
- MRI Software LLC
- Service Works Global
- Causeway Technologies.
- Other Key Companies
- SPACEWELL INTERNATIONAL
- ARCHIBUS, Inc.
- JadeTrack Energy Management Software
Facility Management Market: Report Segmentation
For the scope of the report, In-depth segmentation is offered by Forencis Research
Facility Management Market, by Component
- Facility Operations and Security Management
- Building Information Modeling
- Facility Property Management
- Facility Environment Management
- Deployment and Integration
- Auditing and Quality Assessment
- Support and Maintenance
Facility Management Market, by Deployment Type
Facility Management Market, by Enterprise Size
- Small and Medium Size Enterprises
- Large Enterprises
Facility Management Market, by End-User
- IT and Telecommunication
- Energy and Utilities
Facility Management Market, by Region
- North America
- South Korea
- Rest of Asia-Pacific
- Rest of Europe
- Middle East & Africa
- Saudi Arabia
- Rest of Middle East & Africa
- South America
- Rest of South America
Key Questions Answered By The Report
- What are the prominent developments affecting the market worldwide and its growth?
- What will be the impact of the developments in the market on the industry and on the market players in the future?
- What are the evolving variations of the market globally?
- What are the evolving functions of the market globally?
- What are the prominent aspects that will affect market growth globally during the study period?
- Who are the key players operating in the market across the globe?
- How are the key players leveraging in the present market scenario worldwide?
- Facility Management Market Providers
- Facility Management Market Solution and Services Suppliers, Distributors and Dealers
- End-Users of Varied Segments of Facility Management Market
- Government Bodies and Intellectual Institutions
- Associations and Industrial Organizations
- Research & Consulting Service Providers
- Research & Development Organizations
- Investment Banks & Private Equity Firms
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE FACILITY MANAGEMENT MARKET STUDY