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Recent research: 11.4% CAGR for facility management market to reach USD 59.33 billion by 2023

IT Market Research

Main objective of report is to define, describe, & forecast facility management market size by solutions, services, organization size, deployment types, verticals, & regions. Report provides detailed information on major factors (drivers, restraints, opportunities, & challenges) influencing growth of market. Report attempts to forecast market size with respect to 5 main regions, namely, North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America.

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Global facility management market size is expected to grow from USD 34.65 billion in 2018 to USD 59.33 billion by 2023, at a CAGR of 11.4% during forecast period. Growth in development of sustainable infrastructure & in adoption of IoT & connected devices for building automation is a major driving factor for facility management market.

An increasing need to meet environmental and regulatory compliance is also driving facility management market.

Facility Management Market By Service:

  • Deployment and Integration
  • Consulting
  • Auditing and Quality Assessment
  • Support and Maintenance
  • SLA Management

Facility Management Market By Vertical:

  • BFSI
  • IT and Telecom
  • Government and Public Administration
  • Healthcare
  • Education
  • Retail
  • Energy and Utilities
  • Manufacturing
  • Construction and Real Estate

North America is largest contributor to facility management market in terms of market size, as it is a technologically advanced region. Top countries contributing to facility management market in this region are US & Canada.

Enterprises in government & public administration vertical are also adopting facility management solutions, & vertical would provide high growth opportunities in facility management market during forecast period.

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MEA region comprises major economies, such as the United Arab Emirates (UAE), the Kingdom of Saudi Arabia (KSA), Qatar, Israel, and South Africa, which are expected to register high growth in the facility management market. The region has witnessed high adoption of tech-savvy solutions across various verticals.

Mega infrastructure developments, such as Mohammed Bin Rashid City, Dubai Creek Harbor, Dubai Expo Site in UAE, Jazan Industrial City in KSA, QP District, and Doha Festival City in Qatar, have created opportunities for facility management providers in the MEA region.

Key Target Audience

  • Facility management solution providers
  • Managed service providers
  • Integration service providers
  • Cloud service providers
  • Facility management service providers
  • Building automation solution providers
  • Architects, engineers, and contractors
  • Consultancy firms and advisory firms
  • Regulatory agencies
  • Technology consultants
  • Governments

The facility management market includes various major vendors, such as IBM (US), Oracle (US), SAP (Germany), MCS Solutions (Belgium), ARCHIBUS (US), Trimble (US), CA Technologies (US), Accruent (US), Planon (Netherlands), FM:Systems (US), iOFFICE (US), Maintenance Connection (US), JadeTrack (US), Metric Stream (US), Facility Management eXpress (US), eMaint (US), Hippo CMMS (Canada), FSI (England), Indus Systems (US), Autodesk (US), Nemetschek (Germany), Archidata (Canada), OfficeSpace (US), FacilityONE Technologies (US), and Apleona (Germany).

Connect for More Details for More Information “Facility Management Market by Solution (IWMS, BIM, Operations & Security, Environment, Property Management), Service (Auditing & Quality Assessment, SLA Management), Deployment Type, Organization Size, Vertical, and Region - Global Forecast to 2023” report @…ount?rname=175236 .

In the solutions segment, the facility property management subsegment is expected to hold the largest market share. Facility property management solutions help enterprises derive tangible value from their business operations, by enhancing their efficiency and effectiveness.

These solutions are further segmented into lease accounting and real estate management, asset maintenance management, workspace and relocation management, and reservation management.

Premium Insights

1 Attractive Market Opportunities in the Facility Management Market

2 Market By Vertical and Region

3 Market By Region

4 Market: Investment Scenario

Competitive Landscape

1 Overview

2 Market Ranking Analysis

3 Competitive Scenario

4 New Product Launches

5 Business Expansions

6 Mergers and Acquisitions

7 Agreements, Collaborations, and Partnerships

Facility management solutions, such as IWMS and CMMS, strategically help facility management teams manage various operations processes, such as asset management, maintenance management, and space management.

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