Covina, United States: Global Facility Management Market, by Solutions (Integrated Workplace Management System, Building Information Modeling, Facility Operations and Security Management, Facility Environment Management, and Facility Property Management), by Service (Deployment and Integration, Consulting, Auditing and Quality Assessment, Support and Maintenance, SLA (Service Providers Need) Management), by Deployment Type (On-Premises and Cloud), by Organization Size (Small and Medium-Sized Enterprises and Large enterprises), by Vertical (BFSI, IT and Telecom, Government and Public Administration, Healthcare, Education, Retail, Energy and Utilities, Manufacturing, and Construction and Real Estate), and Region – Global Forecast to 2029
Facility Management Market Outlook
- Market Value 2020: US$ 40.44 Bn
- Market Value Estimation 2029: US$ 64 Bn
- CAGR: 11.3%
Facility Management is a branch of management that focuses on providing businesses with support services in an effective and efficient manner. Through the integration of location, people, process, and technology, facility management ensures the built environment’s functionality, comfort, safety, and efficiency. Facilities management looks after an organization’s structures and machinery. Controlling and managing several concerns relating to the environment and safety requires facility management. Environmental and legal compliance are maintained with the aid of facility management.
Top News relating to Industry, Innovation:
- In June 2022 – On the heels of its launch of the SoniShield View display meter, Sonicu is introducing a complementary device designed to further improve visibility and safety across enterprise health systems.
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Key Segmentation of the Facility Management Market:
The Global facility management market accounted for US$ 36.7 billion in 2019 and is projected to register a moderate CAGR of 11.3% over the forecast period. The market report has been segmented on the basis of solutions, service, deployment type, organization size, vertical, and region.
- By solution, the asset maintenance management system segment accounted for major revenue share in 2019. Asset maintenance management system is used to designed program and records an organization’s maintenance activities. Asset maintenance management provides a problem solving-time assessment of buildings, equipment, machinery, and other organizational assets.
- By service, the global facility management system is segmented into deployment and integration, consulting, auditing and quality assessment, support and maintenance, and SLA (service providers need) management.
- By region North America facility management market accounted for major revenue share of the global facility management market and is further anticipated to maintain its dominance over the forecast period, owing to increasing number of public-private partnership projects as well as growing number of redevelopments in the existing facilities has increased burden on the existing facilities especially in U.S. and Canada.. Europe is expected to account for fastest growing rate in global facility management market, in 2019.
The Facility Management Market Report mentions the following promising regions:
- North America- U.S., Canada
- Europe- UK, Germany, Spain, France, Italy, Russia, Rest of Europe
- Asia Pacific- Japan, India, China, South Korea, Australia, Rest of Asia-Pacific
- Latin America- Brazil, Mexico, Argentina, Rest of Latin America
- Middle East & Africa- South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa
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Top-tier significant players:
The prominent player operating in the global Facility Management Market includes International Business Machines Corporation, Oracle Corporation, SAP SE, MCS Solutions, ARCHIBUS, Inc., Trimble Inc., CA Technologies, Accruent, LLC, Planon B.V., FM:Systems, Inc., iOFFICE, Inc., Maintenance Connection Inc., JadeTrack, MetricStream, Inc., Facilities Management eXpress, LLC, eMaint Enterprises, LLC, Hippo CMMS, Indus Systems Inc, Autodesk, Inc., Nemetschek SE, Archidata Inc, Officespace Software Inc, FacilityONE Technologies, LLC, and Apleona GmbH.
Premium Report offers:
- Assessments of market share for the regional and national segments
- A description of the business, including its goals, finances, and most recent advancements.
- In addition to a comprehensive analysis of market share, the report contains data on significant drivers, restraints, and opportunities.
- The market power of consumers and suppliers is demonstrated via Porter’s five forces study.
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