Overview and Scope
Facility management services refers to a process that integrate people, place, process, and technology to assure the functionality, comfort, safety, and efficiency of buildings and grounds, infrastructure, and real estate. It entails using an outside service provider to manage and maintain the building, and to perform several non-core business duties for the corporation.
Sizing and Forecast
The facility management services market size has grown rapidly in recent years. It will grow from $1543.98 billion in 2023 to $1759.68 billion in 2024 at a compound annual growth rate (CAGR) of 14.0%. The growth in the historic period can be attributed to globalization and expansion of businesses, changing consumer expectations in commercial spaces, rise in outsourcing facility services, focus on sustainability and energy efficiency, evolution of workplace dynamics.
The facility management services market size is expected to see rapid growth in the next few years. It will grow to $2863.73 billion in 2028 at a compound annual growth rate (CAGR) of 12.9%. The growth in the forecast period can be attributed to global expansion and facility standardization, outsourcing of non-core functions, demand for data-driven decision making, shift towards sustainable and green buildings, rise of remote work and flexible spaces. Major trends in the forecast period include adoption of predictive analytics, customization for flexible workspace, enhanced security and safety measures, demand for sustainable practices, shift to remote facility management.
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Segmentation & Regional Insights
The facility management services market covered in this report is segmented –
1) By Component: Solutions, Services
2) By Service Type: Hard Services, Soft Services, Other Services
3) By Deployment Mode: Cloud, On-premises
4) By Organization Size: Small and Medium Enterprises (SMEs), Large Enterprise
5) By Industry Vertical: Healthcare, Government, Education, Military And Defense, Real Estate, Other Industry Verticals
North America was the largest region in the facility management services market in 2023. The regions covered in the facility management services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
Increasing smart city initiatives is expected to propel the growth of the facility management services market going forward. Several government initiatives are being introduced by various countries for the development of smart cities. Facility management services support smart cities by providing innovative information and communication technologies (ICTs) to the field of Urban Facility Management (UFM) and new possibilities for optimizing existing services and for developing new services based on the Internet of Things (IoT), Big Data, information sharing, and smart applications. For instance, in 2021, according to IBEF, the Government of India invested a total of Rs 205,018 crore (US$ 28.31 billion) for the smart city mission. Therefore, increasing the adoption of the smart city concept drives the facility management services market.
Key Industry Players
Major companies operating in the facility management services market report are Atalian Servest AMK Limited, BVG India Limited, CBRE Group Inc., EMCOR Group Inc., International Service System A/S World, Knight Facilities Management Limited, Quess Corporation Limited, Sodexo Inc., Spotless Group Holdings Limited, Tenon Group, QuickFMS, Nuvolo Technologies India Pvt. Ltd., InnoMaint Systems Pvt. Ltd., eFACiLiTY Systems Pvt. Ltd., FacilityONE Technologies LLC, Jones Lang LaSalle Incorporated, Cushman & Wakefield Plc, Compass Group Plc, Aramark Services Inc., Colliers International Group Inc., Apleona GmbH, Mitie Group PLC, G4S Secure Solutions (UK) Limited, ABM Industries Incorporated, Serco Group plc, UGL Limited, Vanderlande Industries B.V., Cofely GDF SUEZ, OCS Group, Vinci Facilities, Amey plc, Carillion plc, Johnson Controls International plc, SIS Group Limited
The facility management services market report table of contents includes:
1. Executive Summary
2. Facility Management Services Market Characteristics
3. Facility Management Services Market Trends And Strategies
4. Facility Management Services Market – Macro Economic Scenario
5. Global Facility Management Services Market Size and Growth
…..
31. Global Facility Management Services Market Competitive Benchmarking
32. Global Facility Management Services Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Facility Management Services Market
34. Facility Management Services Market Future Outlook and Potential Analysis
35. Appendix
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