The office and factory buildings market size is expected to see steady growth in the next few years. It will grow to $986.16 billion in 2028 at a compound annual growth rate (CAGR) of 2.3%. The growth in the forecast period can be attributed to workplace culture shifts, emerging markets, regulatory reforms, remote work adaptation, sustainability trends. Major trends in the forecast period include 3d printing in construction, vertical integration, agile work environments, biophilic design, mobility and accessibility.
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Segmentation & Regional Insights
The office and factory buildings market covered in this report is segmented –
1) By Type: Residential, Non-residential
2) By Construction Type: New Construction, Renovation
3) By Application: Owned, Rental
4) By End User: Private, Public
North America was the largest region in the office and factory buildings market in 2023. The regions covered in the office and factory buildings 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
Rapid industrialization is expected to propel the growth of the office and factory buildings market going forward. Industrialization refers to the process of moving a country’s or region’s economy away from a reliance on agriculture and towards one that is driven by industry. Industrialization increases the need for various office and factory buildings that could make great contributions to housing demand with prefabrication, and modular construction in factories and then assembling them on the job site, which could increase the quality of project implementation and reduce the project time. For instance, in December 2021, according to a report shared by Eurostat, a Luxembourg-based government agency, the production of manufactured goods grew by 8 percent in 2021 compared to 2020. Additionally, in 2021, manufacturing contributed $2.3 trillion to U.S. GDP, amounting to 12.0 percent of the total U.S. GDP. Therefore, rapid industrialization is driving the growth of the office and factory buildings market.
Key Industry Players
Major companies operating in the office and factory buildings market are developing innovative products, such as office building management software. Office building management software is a comprehensive digital solution for efficiently overseeing and optimizing various facility operations, including maintenance, security, space utilization, and tenant services. For instance, in November 2023, ClickUp, a US-based software company, launched ClickUp 3.0. ClickUp 3.0 is the latest version of the software offering office management solutions to run productive workplaces The new version features several upgrades and improvements, providing users with enhanced productivity and efficiency in various work environments. It can be used to manage tasks and projects related to office building management. ClickUp 3.0 can be used to manage maintenance tasks, track inventory, and manage schedules for building staff.
The office and factory buildings market report table of contents includes:
1. Executive Summary
2. Office And Factory Buildings Market Characteristics
3. Office And Factory Buildings Market Trends And Strategies
4. Office And Factory Buildings Market – Macro Economic Scenario
5. Global Office And Factory Buildings Market Size and Growth
…………………..
31. Global Office And Factory Buildings Market Competitive Benchmarking
32. Global Office And Factory Buildings Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Office And Factory Buildings Market
34. Office And Factory Buildings Market Future Outlook and Potential Analysis
35. Appendix
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