Facility Management Market Demand, Future Trend And Recent Development By Forecast 2027

  Summary:

A new study title “Facility Management market size, status and forecast 2027” has been featured on market research future.


The global facility management market is witnessing increasing demand. Onset of the COVID 19 pandemic has boosted the demand for facility management platforms across the world. Increasing uptake of facility management platforms over the past few years in healthcare, education & academics, community centers, municipality centers, and sports training centers influences the market growth.

According to Market Research Future (MRFR), the global facility management market valuation is projected to grow exponentially by 2027, registering a steady CAGR throughout the forecast period (2020 –2027). With safety and wellness taking center stage, organizations are investing more than ever in maintaining the health & well-being of their employees. 

Increased Efficiency & Productivity Benefits Offered by Facility Management Boosts Market Growth

Besides, technological advances in facility management software as a service and platform escalate market growth. The increasing numbers of service and solution providers impact the facility management industry growth positively. Additionally, growing numbers of enterprises and the spurring rise in the IT sector bolster the market growth. 

The availability of advanced facility management solutions and increasing spending on facility management positively impact the market growth. Furthermore, considerable adoption of facility management platforms by increasing numbers of education & academic institutes, community centers, and municipality centers fosters the growth of the market.

Lack of Awareness for Facility Management Advantages Restrict Market Growth

Despite demonstrating promising prospects, the market still witnesses several challenges, such as the lack of awareness for facility management benefits is a major factor impeding the market growth. Nevertheless, the implementation of facility management platforms in various commercial sectors such as academic institutions and sports training centers would support the market's growth.

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Global Facility Management Market – Segmentations

The report is segmented into services, deployments, end-users, and regions. The service segment is sub-segmented into project management, inventory management, operations management, and others. The deployment segment is sub-segmented into on-cloud and on-premise.

The end-user segment is sub-segmented into retail, healthcare, manufacturing, education, BFSI, real bequest, IT and telecom, government, and others. The region segment is sub-segmented into Asia Pacific, Americas, Europe, and rest-of-the-world.

Facility Management Market – Geographical Analysis

North America dominates the global facility management market. The largest market share attributes to the rising adoption of facility management in various enterprises. Besides, large technological advances and the early adoption of advanced technology drive the growth of the market. Moreover, the growing adoption of facility management software in enterprises and government and public sectors boosts the market growth. 

Furthermore, the presence of a number of key players and well-developed technology foster the facility management market size. Augmenting demand for advanced facility management software from the increasing number of health and wellness centers drives the regional market. The US and Canada are prominent markets in the region. The North American facility management market is projected to retain its dominance throughout the estimated period. 

Facility Management Market – Competitive Analysis 

The facility management market is highly competitive, fragmented with the presence of several matured & small key players. These players form a competitive landscape incorporating strategic initiatives such as partnership, acquisition, expansion, product & technology launch, and collaboration. 

Major Players: 

Players leading the global facility management market include IBM Corporation (US), Trimble, Inc. (US), Accruent, LLC (US), FM System, Inc. (US), EMCOR Group, Inc. (US), Oracle Corporation (US), SAP SE (Germany), Aramark Corporation (US), CA Technologies, Inc. (US), and Interserve Plc. (UK), among others. 

Industry/Innovation/Related News:

June 24, 2021 --- Yardi introduced its first-of-its-kind facility manager solution with HVAC fault detection and diagnostics. The solution would identify equipment faults and automate work orders. The combined power of Yardi Facility Manager and Pulse Fault Detection would enable commercial property managers to pre-emptively address equipment failures and automate work order creation when a fault is detected.

 

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About Us:

Market Research Future (MRFR) is an esteemed company with a reputation of serving clients across domains of information technology (IT), healthcare, and chemicals. Our analysts undertake painstaking primary and secondary research to provide a seamless report with a 360 degree perspective. Data is compared against reputed organizations, trustworthy databases, and international surveys for producing impeccable reports backed with graphical and statistical information.

We at MRFR provide syndicated and customized reports to clients as per their liking. Our consulting services are aimed at eliminating business risks and driving the bottomline margins of our clients. The hands-on experience of analysts and capability of performing astute research through interviews, surveys, and polls are a statement of our prowess. We constantly monitor the market for any fluctuations and update our reports on a regular basis.

 

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