Facility Management Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Facility Management Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Report Format: PDF+Excel | Report ID: SR112023A1621
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Market Overview:

The global facility management market size reached US$ 62.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 132.1 Billion by 2028, exhibiting a growth rate (CAGR) of 13.52% during 2023-2028. The rising construction of green buildings, increasing preferences for outsourcing, and the growing need of enterprises to comply with environmental and regulatory norms represent some of the key factors driving the market.

Facility management (FM) refers to services and tools that are utilized for supporting the functionality, safety, and sustainability of real estate properties, buildings, infrastructure, and grounds. It comprises lease management, capital project planning and management, maintenance and operations, energy management, occupancy and space management, employee and occupant experience, emergency management and business continuity, and real estate management. It also ensures proper maintenance of plumbing, wiring, elevators, and insulation systems and focuses on managing various labor-intensive tasks, such as lease accounting, catering, security, groundskeeping, and custodial services. It assists in proper space management, reducing overall project costs, and increasing the short and long-term value of property, buildings, and equipment. FM also delivers operational efficiency, creates an environment required for enhancing productivity, guarantees regulatory compliance, and explores and adopts technological solutions. It reduces energy consumption costs and the overall carbon footprint of the real estate portfolio. It helps managers manage employee directories, handle emergency planning, and maintain business continuity planning. Furthermore, as FM promotes sustainable tactics for long-term cost management, it is employed in the commercial, residential, retail, and hospitality sectors across the globe.

Global Facility Management Market

Facility Management Market Trends:

At present, the increasing demand for FM due to the rising focus on digitizing business operations represents one of the primary factors influencing the market positively. Besides this, the growing need of businesses to comply with environmental and regulatory norms to lower their carbon footprint is offering a favorable market outlook. In addition, the rising number of hospitals, nursing homes, and clinics to provide quality healthcare to patients around the world is propelling the growth of the market. Apart from this, the increasing adoption of cloud solutions to delegate routine tasks, improve security and scalability, and achieve quick disaster recovery is contributing to the growth of the market. Additionally, rising preferences of enterprises to outsource facility management to third-party service providers for reducing expenses, maximizing value creation, focusing on innovation and expanding core services, and boosting operational efficiency is supporting the market growth. Moreover, the increasing construction of green buildings to reduce carbon emissions, energy expenditure, water wastage, and maintenance costs is strengthening the growth of the market. Furthermore, the rising demand for personalized services to fulfill infrastructure requirements and achieve long-term goals is bolstering the growth of the market.

 

 
 

 

Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.

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Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global facility management market report, along with forecasts at the global and regional level from 2023-2028. Our report has categorized the market based on solution, service, deployment type, organization size and vertical.

Solution Insights:

 

 
 

 

Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.

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  • Facility Property Management
  • Building Information Modeling
  • Integrated Workplace Management System
  • Facility Operations and Security Management
  • Others
     

The report has provided a detailed breakup and analysis of the facility management market based on the solution. This includes facility property management, building information modeling, integrated workplace management system, facility operations and security management, and others. According to the report, facility property management represented the largest segment.

Service Insights:

  • Deployment and Integration
  • Consulting and Training
  • Support and Maintenance
  • Auditing and Quality Assessment
  • Others
     

A detailed breakup and analysis of the facility management market based on the service has also been provided in the report. This includes deployment and integration, consulting and training, support and maintenance, auditing and quality assessment, and others. According to the report, deployment and integration accounted for the largest market share.

Deployment Type Insights:

  • On-Premises
  • Cloud
     

A detailed breakup and analysis of the facility management market based on the deployment type has also been provided in the report. This includes on-premises and cloud. According to the report, on-premises accounted for the largest market share.

Organization Size Insights:

  • Large Enterprises
  • Small and Medium Size Enterprises
     

A detailed breakup and analysis of the facility management market based on the organization size has also been provided in the report. This includes large enterprises and small and medium sized enterprises. According to the report, large enterprises accounted for the largest market share.

Vertical Insights:

  • Banking, Financial Services, and Insurance
  • IT and Telecom
  • Real Estate
  • Government and Public Sector
  • Healthcare
  • Education
  • Retail
  • Others
     

A detailed breakup and analysis of the facility management market based on the vertical has also been provided in the report. This includes banking, financial services, and insurance, IT and telecom, real estate, government and public sector, healthcare, education, retail, and others. According to the report, banking, financial services, and insurance accounted for the largest market share.

Regional Insights:

 

 
 

 

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  • North America
  • Europe 
  • Asia Pacific
  • Latin America
  • Middle East and Africa
     

The report has also provided a comprehensive analysis of all the major regional markets, which include North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America. According to the report, North America was the largest market for facility management. Some of the factors driving the North America facility management market included the increasing automation, technological advancements, rising number of green buildings, etc.

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the global facility management market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include IBM Corporation, Oracle, Trimble Inc., Broadcom, Inc., SAP India Private Limited, Archibus, Accruent, MCS Solutions, Planon Group, iOFFICE, LP., JadeTrack, MetricStream, Inc., Fluke Corporation, Facilities Management eXpress, LLC., etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Report Coverage:

Report Features Details
Base Year of the Analysis 2022
Historical Period 2017-2022
Forecast Period 2023-2028
Units US$ Billion
Segment Coverage Solution, Service, Deployment Type, Organization Size, Vertical, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Companies Covered IBM Corporation, Oracle, Trimble Inc., Broadcom, Inc., SAP India Private Limited, Archibus, Accruent, MCS Solutions, Planon Group, iOFFICE, LP., JadeTrack, MetricStream, Inc., Fluke Corporation, and Facilities Management eXpress, LLC.
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

Key Benefits for Stakeholders:

  • IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the facility management market from 2017-2028.
  • The research study provides the latest information on the market drivers, challenges, and opportunities in the global facility management market.
  • The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
  • Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the facility management industry and its attractiveness.
  • Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.

Key Questions Answered in This Report

The global facility management market was valued at US$ 62.2 Billion in 2022.

We expect the global facility management market to exhibit a CAGR of 13.52% during 2023-2028.

The rising adoption of advanced technologies, such as IoT, augmented reality, cloud computing, etc., for enhancing operational efficiency and reducing workforce requirement, is currently driving the global facility management market.

The sudden outbreak of the COVID-19 pandemic has led to the increasing popularity of facility management system across diverse sectors for automating numerous operations, limiting the workforce, ensuring the availability of essentials tools to maximize productivity, improving asset tracking, etc.

Based on the solutions type, the global facility management market can be bifurcated into facility property management, building information modeling, integrated workplace management system, facility operations and security management, and others. Currently, facility property management holds the majority of the total market share.

Based on the services type, the global facility management market has been segregated into deployment and integration, consulting and training, support and maintenance, auditing and quality assessment, and others. Among these, deployment and integration services currently account for the majority of the total market share.

Based on the deployment type, the global facility management market can be divided into on-premises and cloud, where on-premises solution exhibits a clear dominance in the market.

Based on the organization size, the global facility management market has been categorized into large enterprises and small and medium size enterprises. Currently, large enterprises represent the largest market share.

Based on the vertical, the global facility management market can be segmented into banking, financial services and insurance, IT and telecom, real estate, government and public sector, healthcare, education, retail, and others. Among these, the banking, financial services, and insurance sector (BFSI) holds the majority of the total market share.

On a regional level, the market has been classified into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa, where North America currently dominates the global market.

Some of the major players in the global facility management market include IBM Corporation, Oracle, Trimble Inc., Broadcom, Inc., SAP India Private Limited, Archibus, Accruent, MCS Solutions, Planon Group, iOFFICE, LP., JadeTrack, MetricStream, Inc., Fluke Corporation, and Facilities Management eXpress, LLC.

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Facility Management Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
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