The Business Research Company’s report on the Facility Management Services Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
What are the key drivers behind the facility management services market’s growth in recent years?
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 February 2024, according to the report published by the Institute of the Americas, a US-based inter-American organization, global spending on smart city initiatives is projected to exceed $190 billion by the end of 2023, with smart buildings expected to make up one-third of industrial IoT connections and smart utilities 23% by 2025, while Latin America, though accounting for less than 10% of global spending, is seeing increasing engagement in smart city projects. Therefore, increasing the adoption of the smart city concept drives the facility management services market.
Access Your Free Sample of the Global Facility Management Services Market Report – Get Insights Now!
https://www.thebusinessresearchcompany.com/sample.aspx?id=8734&type=smp
How does the future projection of the facility management services market size compare to its historical growth?
The facility management services market size has grown rapidly in recent years. It will grow from $1744.37 billion in 2024 to $1981.61 billion in 2025 at a compound annual growth rate (CAGR) of 13.6%. 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 $3218.49 billion in 2029 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.
Gain Exclusive Market Insights—Customize Your Research Report Today For Fast Delivery!
https://www.thebusinessresearchcompany.com/customise?id=8734&type=smp
Which key players are shaping the future of the facility management services market?
Major companies operating in the facility management services market 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, 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., OCS Group, Vinci Facilities, Amey PLC, Johnson Controls International PLC, SIS Group Limited
What trends will propel the growth and evolution of the facility management services market?
Technological innovations have emerged as a key trend gaining popularity in the facility management services market. Companies are expanding their service portfolios by integrating technologies into their offerings. Large businesses frequently use innovative technologies, such as BIM (Building Information Modeling), to deliver hard and soft services, enabling them to offer better and upgraded services. For instance, in March 2022, Compass Group, a UK-based company operating in facility management services, introduced Saarthi-FX, a fully digital one-stop solution. This solution reimagines workplace interactions with facility management and seeks to transform the conventional workspace through artificial intelligence and predictive modeling to improve office asset management and offer employees a smarter, safer, and more effective workspace. This also provides seamless customer assistance around-the-clock, integrates technology, people, and processes in ways that give an exceptional employee experience, and converts conventional workspaces into tech-enabled spaces.
Which regions are expected to become dominant players in the facility management services market?
North America was the largest region in the facility management services market in 2024. The regions covered in the facility management services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Order Your Report Now For Swift Delivery
https://www.thebusinessresearchcompany.com/report/facility-management-services-global-market-report
What are the emerging key segments in the facility management services market, and how are they evolving?
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
Subsegments:
1) By Solutions: Integrated Workplace Management Systems (IWMS), Computer-Aided Facility Management (CAFM) Software, Building Management Systems (BMS)
2) By Services: Maintenance And Repair Services, Cleaning And Janitorial Services, Security Services, Space Management Services, Energy Management Services
Purchase The Exclusive Report Now To Unlock Valuable Market Insights:
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=8734
How is the facility management services market defined?
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.
About The Business Research Company:
With over 15000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Armed with 1,500,000 datasets, the optimistic contribution of in-depth secondary research, and unique insights from industry leaders, you can get the information you need to stay ahead.
Our flagship product, the Global Market Model, is a premier market intelligence platform delivering comprehensive and updated forecasts to support informed decision-making.
Contact Us:
The Business Research Company
https://thebusinessresearchcompany.com/
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: [email protected]
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
