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Global Facility Management Services Market Size and Forecast 2024-2033|Atalian Servest AMK Limited, BVG India Limited, CBRE Group Inc., EMCOR Group Inc., International Service System A/S World

The Facility Management Services Global Market Report 2024 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 Facility Management Services Global Market Report 2024, 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.

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.

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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

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.

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

26. South America Facility Management Services Market

27. Brazil Facility Management Services Market

28. Middle East Facility Management Services Market

29. Africa Facility Management Services Market

30. Facility Management Services Market Competitive Landscape And Company Profiles

Top Major Players: