Global Facility Management Market Information, by End-User (Real Estate, Education, Government, Retail, Healthcare), by Service (Project Management, Inventory Management, Operations Management), by Deployment (Cloud, On-Premise) - Forecast 2022
Market Scenario
Market Research Future (MRFR), in its global Facility Management Market 2020 states different forces that can impact the market. A detailed analysis of the impact of COVID-19 pandemic on the world facility management market is provide with the regular market analysis. As per MRFR findings, the facility management market can rise at above 13% CAGR across the assessment period 2016 to 2022.
The growing need for facility management to managing multiple disciplines for seamless operations of an enterprise to ensure smooth functionality of the internal environment can underpin the expansion of the global facility management market. It growing utility of facility management for the productive integration of place, people, process, and technology to aid company focus on their major competencies.
Such as environment sustainability, leadership operation & maintenance, finance & business, project management, strategy, communication, property management, and technology management can boost the expansion of the world market of facility management market across the review period.
The growing awareness about benefits of facility management is replacing the traditional approach which can boost the expansion of the market. The increase in application of cost effective facility management processes in business and to motivate smart working across IT enterprises can promote the expansion of the market.
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Market Segments
The segment study of the Global Facility Management Market is based on services, end-users, and deployment. Segment study provides deeper insights on the impact of corona pandemic on the facility management market.
The Services-based segments of the facility management market are maintenance management, Project Management, operation management, and inventory management among others. The high utility of facility management for Project Management can impel the expansion of the market in the years to come.
The Deployment based segments of the facility management market are on-premise and cloud. Increase in the preference for cloud deployment can support the expansion of the facility management market across the review period.
The End-Users based segments of the facility management market are Retail, Healthcare, Manufacturing, Education, BFSI, Real estate, IT & telecom, and Government among others. The increased application of facility management in the field of healthcare, followed by the retail and other major end-users can boost the expansion of the worldwide facility management market through the assessment period.
Regional Analysis
In North America, the facility management market can rise across the forecast period 2016-2022. It is due to the rise in the adoption of technology advancements and their utility in the manufacturing & IT sectors. The early adoption of facility Management services by well-established companies can also promote the expansion of the regional market. The growing support from North America government for funding in innovations to launch new facility management solutions can boost the expansion of the regional facility management market. The pressing demand for support & maintenance services in the manufacturing sector can also impel the expansion of the market.
In APAC, the facility management market can rise owing to the need for efficient facility management services. Other causes that can boost APAC facility management market are rise in cloud technology market, ongoing trend of outsourcing facility management operations, high real estate properties demand, and increase in the focus on space management system and building asset & building asset can drive the rise of the facility management market in the years to come.
Key Players
MRFR identified major players functioning the world Facility Management Market. They are; SAP SE (Germany), IBM Corporation (U.S.), EMCOR group, Inc. (U.S.), Oracle Corporation (U.S.), FM System, Inc. (U.S.), CA Technologies, Inc. (U.S.), Aramark Corporation (U.S.), Trimble, Inc. (U.S.) Interserve Plc. (UK), Accruent, LLC (U.S.), and others.
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