Facility Management Market 2022 - Market Size & Forecast, Industry Trends, Manufacturers Analysis, & Opportunities 2030

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The global facility management market is anticipated to witness growth at a compound annual growth rate (CAGR) of 13.0% during the forecast period of 2022-2030.

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.

Additionally, the demand for cloud-based facility management solutions has grown tremendously over the last few years. This is because cloud-based solutions are highly effective in providing a reliable means of hosting facilities management software. Diminishing operating costs of organizations by enhancing security and collaboration among teams and subsidiaries present across multiple locations, enhanced security and scalability, secure hosting of critical data, and faster disaster recovery are some of the many advantages of cloud-based facility management solutions. Alongside, cloud-based solutions aid in enhancing customer satisfaction and also reduce repair and maintenance costs. Due to these advantages, the usage of cloud-based solutions for integrating facility management services is growing, which, in turn is fueling 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

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