The Integrated Facility Management by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Integrated Facility Management , The integrated facility management market size has grown steadily in recent years. It will grow from $95.19 billion in 2023 to $99.29 billion in 2024 at a compound annual growth rate (CAGR) of 4.3%. The growth in the historic period can be attributed to cybersecurity measures, globalization and outsourcing, cost optimization and efficiency, health and safety concerns, cloud-based solutions..
The integrated facility management market size is expected to see strong growth in the next few years. It will grow to $122.58 billion in 2028 at a compound annual growth rate (CAGR) of 5.4%. The growth in the forecast period can be attributed to adoption of low-code or no-code platforms, mobile facilities management apps, focus on cost optimization, resilience and business continuity planning, agile workspaces and flexibility.. Major trends in the forecast period include technological advancements, focus on sustainability and green practices, remote facility management, integration of building information modeling (bim), demand for cloud-based ifm solutions, user experience and workplace well-being..
The increasing development of sustainable infrastructure is driving the growth of the integrated facility management (IFM) market. The development of sustainable infrastructure is increasing due to the need for enabling economic and social development, as well as environmental sustainability while preserving human fairness, variety, and natural system performance. The increasing development of sustainable infrastructure will drive the demand for integrated facility management as it provides solutions for responsible contact with the environment to minimize resource depletion or deterioration and ensure the long-term environmental quality of infrastructures. The integrated facility management follows a unique process to make structural, architectural, and operational changes in buildings to reduce the negative impact on their occupants and the environment. For instance, according to The New Climate Economy, a flagship project of the Global Commission on the Economy and Climate, the world is expected to invest $90 trillion in sustainable infrastructure by 2030. These investments are crucial to boosting the economic growth in emerging markets and developing countries in addition to fighting against climate change. Furthermore, the Organization for Economic Co-operation and Development (OCED) predicts that an annual average investment of $6.9 trillion in sustainable infrastructure is required until 2030 for global development. Both instances indicate the increased development of sustainable infrastructure globally. Hence, the increasing sustainable infrastructure development will propel the integrated facility management market growth.
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The integrated facility management market covered in this report is segmented –
1) By Solution: Project Management & Real Estate Portfolio Management & Lease Administration, Asset & Space Management, Maintenance Management, Energy & Environment Sustainability Management, Other Solutions
2) By Deployment Type: On-Premise, Cloud
3) By End-User: Real Estate & Infrastructure, Healthcare, BFSI, Telecomminucation, Manufacturing, Aerospace & Defense, Supply Chain & Logistics, Utilities, Retail, Energy & Resources, Other End Users
Technological advancement is a key trend gaining popularity in the integrated facilities management market. Technological advancements such as artificial intelligence (AI) are being implemented into integrated facilities management solutions to enable optimum space management. The AI-based technologies employ computer systems to do complex activities formerly performed by humans by their functionalities such as speech recognition, visual perception, and decision making. These tools can gather, store, and analyze large data sets in seconds, enabling facility managers to be more proactive in asset performance management, and send an automatic update in case of issues. These tools replace many monotonous and time-consuming facility management duties. Key players are focusing on offering AI-based integrated facilities management solutions to strengthen their market position. For instance, in August 2021, Disrupt-X, a UAE-based IoT cloud platform offering effective digital technology services, partnered with Imdaad to launch a new IoT technology to enhance FM services in the UAE using Intel’s leading-edge technology and edge-to-cloud offerings. Disrupt-X’s Ignite Shield is a full-stacked IoT solution for monitoring air and water quality through a cloud platform and mobile app. Ignite Shield features an impressive portfolio of solutions: smart outdoor and indoor air quality monitoring, smart water infrastructure monitoring, swimming pool monitoring, SPA monitoring, water tank monitoring, industrial asset monitoring, and water pressure monitoring.
The integrated facility management market report table of contents includes:
- Executive Summary
- Integrated Facility Management Market Characteristics
- Integrated Facility Management Market Trends And Strategies
- Integrated Facility Management Market – Macro Economic Scenario
- Global Integrated Facility Management Market Size and Growth
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- Global Integrated Facility Management Market Competitive Benchmarking
- Global Integrated Facility Management Market Competitive Dashboard
- Key Mergers And Acquisitions In The Integrated Facility Management Market
- Integrated Facility Management Market Future Outlook and Potential Analysis
- Appendix
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