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.
Market Driver:
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.
Market Challenge:
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.
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.
|
Report Features |
Specifics |
|---|---|
|
Historical/Estimated/Forecasted Market Size Years |
2019-2027 |
|
Base Year for Market Calculation |
2020 |
|
Forecasted Period |
2021-2027 (2021 estimated year, forecasted up to 2027) |
|
Measured Units |
Value (USD Million) |
|
Segments Included |
Component, Organization Size, Deployment Mode, Industry, and Region |
|
Regional Coverage |
North America, Asia-Pacific, Europe, Middle East & Africa, South America |
For the scope of the report, In-depth segmentation is offered by Forencis Research
Facility Management Service Market, by Component
Facility Management Service Market, by Organization Size
Facility Management Service Market, by Deployment Mode
Facility Management Service Market, by Industry
Facility Management Service Market, by Region
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE FACILITY MANAGEMENT SERVICE MARKET STUDY
Note1: Tentative table of contents, may get updated during the course of research.
Note2: Company financial information is subject to availability in public domain
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE STUDY
