How much is the hard services facility management market worth, and how is it expected to expand?
The hard services facility management market size has grown strongly in recent years. It will grow from $644.31 billion in 2024 to $684.12 billion in 2025 at a compound annual growth rate (CAGR) of 6.2%. The growth in the historic period can be attributed to the expansion of multinational corporations, focus on workplace safety, aging infrastructure, increasing demand for customized and responsive service, and regulatory changes.
The hard services facility management market size is expected to see strong growth in the next few years. It will grow to $857.51 billion in 2029 at a compound annual growth rate (CAGR) of 5.8%. The growth in the forecast period can be attributed to an increasing focus on green buildings, remote work trends, smart building technologies, heightened focus on cybersecurity, urbanization, and infrastructure development. Major trends in the forecast period include a shift towards data-driven decision-making, increased reliance on outsourced facility management services, agile work environments, enhanced maintenance strategies, and adoption of predictive maintenance.
Get Your Free Sample of The Global Hard Services Facility Management Market Report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=17165&type=smp
What are the top drivers to the rising demand in the hard services facility management market?
The rapidly growing hospitality sector is expected to propel the growth of the hard services facility management market going forward. The hospitality sector refers to the sector of the economy that encompasses businesses and services related to accommodation, food and beverage, entertainment, travel, and tourism. The growth of the hospitality industry can be attributed to increasing globalization, rising disposable incomes, and the growing demand for travel and leisure experiences. Hard services facility management in the hospitality sector ensures the efficient operation and maintenance of critical infrastructure such as plumbing, HVAC systems, and electrical systems, enhancing guest comfort and safety. For instance, in January 2023, according to a report published by the American Hotel and Lodging Association, a US-based trade association representing the hotel industry in the United States, from 2021 to 2022, U.S. hotel demand improved by 11.1%. In 2022, U.S. hotels experienced significant occupancy gains, reaching 62.7%, marking a 9% increase over the figures recorded in 2021. Therefore, the rapidly growing hospitality sector is driving the growth of the hard services facility management market.
How is the hard services facility management market segmented?
The hard services facility management market covered in this report is segmented –
1) By Type: Mechanical, Electrical, Plumbing (MEP) Heating, Ventilation, and Air Conditioning (HVAC) Maintenance Services, Enterprise Asset Management
2) By Service Type: Outsourced, In-house
3) By Industry Vertical: Healthcare, Government, Education, Military And Defense, Real Estate, Other Industry Verticals
Subsegments:
1) By Mechanical, Electrical, Plumbing (MEP) Maintenance Services: Mechanical Systems Maintenance, HVAC Systems, Pumping Systems, Fire Protection Systems, Electrical Systems Maintenance, Power Distribution, Lighting Systems, Generators And Backup Systems, Plumbing Systems Maintenance, Water Supply Systems, Drainage Systems, Gas Systems
2) By Heating, Ventilation, And Air Conditioning (HVAC) Maintenance Services: Preventive Maintenance For HVAC, Emergency HVAC Repairs, HVAC System Installation And Commissioning, HVAC System Upgrades And Replacements, Air Filtration And Air Quality Control Services
3) By Enterprise Asset Management (EAM): Asset Lifecycle Management, Condition-Based Monitoring, Predictive Maintenance, Inventory And Spare Parts Management, Work Order Management, Compliance And Regulatory Reporting
Order your report now for swift delivery
Who are the top competitors in the hard services facility management market?
Major companies operating in the hard services facility management market are Siemens AG, Vinci SA, Bouygues SA, Veolia Environnement, Compass Group, CBRE Group Inc., Johnson Controls International plc., Sodexo Group, Jones Lang LaSalle Incorporated, G4S plc, Aramark, Jacobs Solutions Inc., Skanska Group, AECOM, EMCOR Group Inc., Cushman & Wakefield, Balfour Beatty plc, ABM Industries Incorporated, KBR Inc., Serco Group plc, Mitie Group plc, Capita plc, Carillion Alawi LLC, ENGIE Services, ISS Facility Services
What significant trends should we anticipate in the hard services facility management market over the forecast period?
Major companies operating in the hard services facility management market are focused on developing innovative services, such as digital platforms, to enhance operational efficiency, improve predictive maintenance, and offer real-time monitoring and analytics. A digital platform refers to integrated software solutions that facilitate the management, monitoring, and maintenance of a building’s physical assets. For instance, in September 2023, Johnson Controls International PLC, an Ireland-based building technology company, launched a new OpenBlue service called Ensuring Security Device Performance. This service is designed to help customers enhance building safety, manage risk, and maximize the value of investments made in security technology. It combines Johnson Controls’ OpenBlue suite of connected solutions with the ability to monitor and manage security devices across vendors, providing remote support services and insights from skilled engineers, as well as offering simplified, integrated zero-trust cybersecurity protection. The service aims to proactively maintain and update customers’ security systems to ensure they remain operational, compliant, and secure from cyber threats.
Which regional trends are influencing the hard services facility management market, and which area dominates the industry?
Asia-Pacific was the largest region in the hard services facility management market in 2024. The regions covered in the hard services facility management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Does The Hard Services Facility Management Market Report 2025 Offer?
The hard services facility management market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Hard services facilities management involves the maintenance and management of physical assets within a built environment. It includes services such as HVAC (Heating, Ventilation, and Air Conditioning) maintenance, plumbing, electrical systems management, and building fabric upkeep. These services ensure that a facility’s infrastructure operates effectively, supporting the overall functionality and safety of the premises.
Purchase the exclusive report now to unlock valuable market insights:
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=17165
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
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
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
