Facility Management Market 2022 - Market Size &
Forecast, Industry Trends, Manufacturers Analysis, & Opportunities 2030
Page: 386 | Report Code: ICTM22090601 | Research Suite: Report (PDF) & Market Data (Excel)
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Facility management (FM) involves the standardization of services and
streamlining of processes in an organization. It covers a host of disciplines
to ensure the functionality of the built environment in an organization by uniting
processes, people, technology, and places. It coordinates the operations of a facility
by using management techniques and methods to make the organization more
effective and productive in the field it is in.
Some of the primary end-user verticals of facility management solutions
include real estate, manufacturing, retail, education, and healthcare.
GROWTH DRIVERS:
Factors such as
the robust infrastructural expansion across various end-user verticals
including manufacturing, real-estate, retail etc., coupled with the rising need
for integrating data from operational facilities into other business
applications across these verticals; the growing penetration of technology; the
proliferating demand for facility management solutions and services integrated
with intelligent software; the surging amount of investments on infrastructural
fronts, and the growing emphasis on optimization of processes and energy
efficiency are primarily driving the growth of the global facility management
market.
Moreover, the
demand and application of facility management, particularly in the commercial
sector, has been upsurging at new levels in the recent years. This basically
means that the application of facility management & solutions across
various end-use sectors including water management, construction, real estate,
hospitality, healthcare, and retail has proliferated. The ongoing pandemic has
also compelled these end-users to opt for frequent cleaning and sanitizing
services to make their workplace safer and more hygienic. This has raised the
demand for facilities management among them, thereby contributing to the growth
of the overall market.
Furthermore, other
factors such as the integration of building information modeling software with
facility management solutions; the development and introduction of IoT in
facility management leading to the automation of various functions, and the
increasing adoption if IoT solutions by numerous third-party outsourcing
companies, including building management service providers are also expected to
create tremendous growth opportunities for the global facility management
market during the forecast period.
However,
factors such as the dearth of managerial awareness and standardization; security
concerns related to the safety of devices and networks due to the rising number
of security breaches & threats of cybercrime groups, and the surging
budgetary constraints may restrict the growth of the market to a certain extent
during the forecast period.
FACILITY MANAGEMENT MARKET SEGMENTATION:
By Component:
·
Solutions
o
IWMS
o
BIM
o
Facility Operations and
Security Management
§ Lighting Control
§ HVAC Control
§ Video Surveillance and Access Control
§ Emergency and Incident Management
o
Facility Environment Management
§ Sustainability Management
§ Waste Management
o
Facility Property Management
§ Lease Accounting and Real Estate Management
§ Asset Maintenance Management
§ Workspace and Relocation Management
§ Reservation Management
·
Services
o
Professional Services
§ Deployment and Integration
§ Consulting and Training
§ Auditing and Quality Assessment
§ Support and Maintenance
§ SLA Management
o
Managed Services
By Deployment Mode:
·
Cloud
·
On-premises
By Organization Size:
·
Large enterprises
·
Small and medium-sized
enterprises (SMEs)
By Vertical:
·
BFSI
·
IT and Telecom
·
Government and Public
Administration
·
Healthcare
·
Education
·
Retail
·
Energy and Utilities
·
Manufacturing
·
Construction and Real Estate
·
Other Verticals
By Region:
·
North America
·
Europe
·
Asia Pacific
·
Latin America
·
Middle East and Africa
Based on component, the solutions segment captured the
largest share of the global facility management market in 2021. The segment is
projected to further retain its lead in the market over the forecast period of
2022-2030. Factors attributable to the growth of this segment include the
surging awareness among companies regarding the significance of enhancing
efficiencies and streamlining processes; the growing requirement of enterprises
to offer a highly personalized solution and improve customer experience; and restructure
the conventional facility management model by using advanced tools. However,
the services segment is predicted to witness the highest growth in the market
during the forecast period. This is predominantly due to the soaring demand for
services, specifically for deployment & integration and, quality assessment
& auditing.
Based on deployment mode, the cloud segment is
anticipated to grow at the highest growth rate in the market during the
forecast period. The growth of this particular segment can be ascribed to the
growing popularity of cloud-based solutions owing to the various advantages such
as easy collaboration, relatively lower operational costs, simplified
deployment and adaptability offered by them.
Based on organization size, the large enterprises
segment acquired the largest share of the global facility management market in
2021. The segment is estimated to further retain its dominance in the market
over the forecast period due to the early and high adoption of facility
management solutions by large enterprises, mainly to manage and keep a tab on
complex and voluminous facility infrastructures.
Based on vertical, the retail segment is predicted to
attain the highest CAGR in the market over the forecast period. Factors such as
the increasing usage of facility management solutions by retail enterprises for
managing their entire retail life cycle, and the escalating automation in the
retail sector are mainly attributed to the segment’s growth.
REGIONAL OUTLOOK:
The North American region, followed by the Asia Pacific
region, dominated the global facility management market in 2021 and the trend
is expected to continue over the forecast period. Factors attributable to the
growth of the market in the region include the proliferating early adoption of
new and upcoming technologies in the region, the presence of well-established
market players and large integrated facility management (IFM) companies in the
region; the existence of technologically advanced nations with robust
infrastructure in the region; the growing technological advancements in the
region; the escalating number of mergers and acquisitions in the region and the
rapidly expanding end-user verticals of facility management solutions in the
region. U.S and Canada are the major contributors to the growth of the market
in the region.
The Middle East and African region is expected to
witness the highest growth in the market in terms of region during the forecast
period, followed by the Asia Pacific region. The existence and introduction of
new mega infrastructure projects; the escalating need to improve asset life
cycle; the burgeoning adoption of technologically advanced solutions across end-user
verticals, and the growing construction activities and government plans for enhancing
education systems and healthcare facilities are the key factors attributable to
the growth of the market in the region.
KEY COMPANIES IN FACILITY MANAGEMENT MARKET:
·
Nuvolo
·
FM Systems
·
Spacewell International
·
Archidata Inc.
·
QuickFMS
·
International Business Machines Corporation
·
Oracle Corporation
·
SAP SE
·
Trimble Inc.
·
Fortive
·
MRI Software LLC
·
Service Works Global
·
Facilities Management eXpress
·
Causeway Technologies
·
OfficeSpace Software Inc.
·
eFACiLiTY
·
InnoMaint
·
zLink
· Other Players