New York, NY, June 29, 2021 (GLOBE NEWSWIRE) — Facts and Factors have published a new research report titled “Facility Management Market By Offering (Solutions & Services), By Deployment Mode (On-Premises & Cloud-Based), By Organization Size (Small and Medium-sized Enterprises (SMEs) and Large Enterprises), By Industry Verticals (BSFI, IT & Telecom, Government & Public Administration, Healthcare, Education, Retail, Energy & Utilities, Manufacturing, Construction, & Others), And By Regions – Global & Regional Industry Perspective, Comprehensive Analysis, and Forecasts, 2021 – 2026”.
“According to the recent research report, the demand of global Facility Management Market size & share expected to reach to USD 67.89 Billion by 2026 from USD 39.7 Billion in 2020, at a compound annual growth rate (CAGR) of 11.6% during the forecast period 2021 to 2026”
Global Facility Management Market: Overview
Facility management services are a combination of integration services and people within an organization for smooth functioning in its most highly efficient form. Facility management services range from maintenance, space planning, and portfolio forecasting to emergency preparedness, business continuity, environmental sustainability, human error accountability, communication, and project management activities to name a few. The driving forces for the intermediate growth of the global facility management market are the advent of the COVID-19 forcing people to work from home and rising government investments in the sectors of real estate, energy, and telecom & IT.
The adaptability of service providers to bundle their services within a redefined space will further increase the value of the latter during lockdown conditions. The rising trend of government bodies across the world diversifying their tourism and non-economic sectors will further increase the market space captured by the global facility market during the forecast. Moreover, the practice of linking various infrastructures of international countries at borders will propel the growth of the global facility management sector across the forecast.
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(Note: The sample of this report is updated with COVID-19 impact analysis before delivery)
Industry Major Market Players
- MRI Software
- Service Works Global
- Causeway Technologies
- FM Systems
- UpKeep Maintenance
- FacilityONE Technologies
- Office Space Software
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Key questions answered in this report:
- What is the projected market size & growth rate of Facility Management Market?
- What are the key driving factors for the growth of Facility Management Market?
- What are the top companies operative in Facility Management Market?
- What segments are covered in Facility Management Market?
- How can I get free sample report/company profiles of Facility Management Market?
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On the basis of offering, the global facility management market can be divided into solutions and services. The solution segment can be divided into IWMS, BIM, facility operation and security management, facility environment management, and facility property management and the service segment can be further disintegrated into professional services and managed services. The solution segment is expected to witness the largest market share during the advent of the forecast owing to the increasing demand for traditional services.
On the basis of industry verticals, the global facility management can be fragmented into BSFI, IT & telecom, government and public administration, healthcare, education, retail, energy & utilities, manufacturing, construction, and others. The BSFI segment is expected to occupy the largest market share during the forecast. Reasons contributing to the dominant position during the forecast can be attributed to increasing demands for a range of services such as maintenance and management of real estate investments.
The following developments are expected to change the dynamics of the facility management market during the forecast:
- Sodexo recently announced a partnership with Bureau Veritas a hygiene label for Sodexo services that provides a higher standard of quality assurance to its consumers. This partnership is expected to cover on-site facilities across the U.K, France, the USA, and Canada.
- ISS recently entered into a five-year partnership with Nordics with a major share in order to enter the region and begin occupying a larger consumer base.
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Global Facility Management Market: Segmentation
The global facility management market can be segmented into offering, deployment mode, organization size, industry verticals, and regions.
The global facility management market can be divided into solutions and services on the basis of offering type. The solution segment can be divided into IWMS, BIM, facility operation and security management, facility environment management, and facility property management. The facility and operation and security segment can be further broken down into lighting, HVAC, video surveillance, and access control while the facility environment management can be divided into sustainability and waste management. The service segment can be further disintegrated into professional services and managed services. The professional services can be further segmented across deployment and integration, consulting & training, auditing and quality assessment, and support and maintenance. The solution segment is expected to witness the largest market share during the advent of the forecast owing to the increasing rise of traditional services across the forecast. Effective management solution often consists of multi-level management services that provide lighting, HVAC control, security and emergency, and accident sustainability. The global facility management market can be divided into on-premises and cloud-based deployment on the basis of the deployment model. The on-premises deployment mode is expected to lead the market in terms of growth and market share during the forecast owing to the integrated package of software and infrastructure needs offered by the latter.
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North America Is Expected To Witness The Largest Market Share During The Forecast Period
North America is expected to witness the largest market share during the advent of the forecast…