Facility Management Service Market: Summary
The Global Facility Management Service Market is projected to reach a value of over USD 74.9 billion by 2027 at a CAGR of around 9.6%.
Facility Management is professional management focused on the efficient and effective delivery of support service of the organization it serves. It integrates places, people, processes, technologies, and asset the company to focus on its core competencies. Facility management services include inventory management, project management, operations management, maintenance management, and others which are focused on the delivery of services for enterprises in managing their facilities efficiently.
Facility Management Service Market: Drivers & Challenge
- Growing Infrastructure Development
Rising industrialization and urbanization has focused government from various countries to invest in infrastructure development. Thus, governing bodies have started investing in the construction of activities for building ports, airports, railways, highways, and among other sectors. For instance, High-Speed Railway project in California, Dubailand in Dubai, and others. Governments are signing contracts with several international players to complete and link the infrastructure internally and across the borders as well. Facility management service helps to manage these infrastructure projects by managing their inventory, keep operational track, and others. Thus, growing infrastructure development in various countries has expected to surge the demand for facility management service during the forecasted period.
- Lack of Managerial Awareness Among Small & Medium Enterprise
Facility management service offers various benefits to the organization but these are not entirely recognized by every organization. Many enterprises are still adopting cloud computing system rather than adopting IoT ecosystem. Additionally, transitions of conventional office to modern set up are still in its infancy. Despite facility management service being an important part of operations, the enterprise is unaware of the evolving solution. This has led to a complex task for an organization to give equal importance to their facility management department. Thus, lack of understanding and adopting prerequisite technologies has expected to pose a major challenge to the facility management service growth.
Facility Management Service Market: Key Segments
- Segmentation based on component: Solution, and Service.
- Segmentation based on organization size: Small and Medium-sized Enterprises (SMEs), and Large Enterprises.
- Segmentation based on deployment mode: On-premise, and Cloud Based.
- Segmentation based on industry: Banking, Financial Services, and Insurance (BFSI), IT & Telecommunication, Healthcare, Government & Public Administration, Retail, Education, Energy & Utilities, Construction & Real Estate, 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 Service Market: Report Scope
The report on the facility management service 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, Organization Size, Deployment Mode, Industry, and Region
North America, Asia-Pacific, Europe, Middle East & Africa, South America
Key Companies Covered
- Accruent (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
- SMS Integrated Facility Services Private Limited
- Trimble Inc.
- MRI Software LLC
- Service Works Global
- Causeway Technologies
- SPACEWELL INTERNATIONAL
- FSI S.r.l
- ARCHIBUS, Inc
- Other Key Companies
Facility Management Service Market: Report Segmentation
For the scope of the report, In-depth segmentation is offered by Forencis Research
Facility Management Service Market, by Component
- Asset Management
- Workplace & Relocation Management
- Strategic Planning Management
- Real Estate & Lease Management
Facility Management Service Market, by Organization Size
- Small and Medium-sized Enterprises (SMEs)
- Large Enterprises
Facility Management Service Market, by Deployment Mode
Facility Management Service Market, by Industry
- Banking, Financial Services, and Insurance (BFSI)
- IT & Telecommunication
- Government & Public Administration
- Energy & Utilities
- Construction & Real Estate
Facility Management Service 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 Service Market Providers
- Facility Management Service Market Solution and Services Suppliers, Distributors and Dealers
- End-Users of Varied Segments of Facility Management Service 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 SERVICE MARKET STUDY