Market Size of Argentina Facility Management Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 2.50 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Argentina Facility Management Market Analysis
The Argentina facility management market is expected to grow at a CAGR of above 2.5% during the forecast period, 2022-2027. Facility management ensures the functionality of the built environment by integrating people, place, process, and technology to support an organization's core activities, including property, cleaning, security, catering and support, and others.
- The FM market in Argentina is growing mainly due to the growing construction sector by increased economic activities. In addition, the growing presence of multinational corporations in the country is witnessing the growth of the facility management market in the country. For instance, in December 2021, Two-wheeler market leader Hero MotoCorp announced the expansion of operations in Argentina with the opening of its flagship dealership in Buenos Aires in partnership with Gilera Motors Argentina.
- Furthermore, the growth of the market is driven by the adoption of facility management outsourcing and consistent demand from growing industrial and commercial sectors such as corporate offices. However, the preference for individual services and low consumer awareness about the facility services restrain Argentina's market growth.
- The growing demand and evolving technology for sustainable FM services are expected to provide opportunities for FM service providers. Most businesses are looking for building solutions that help to enable facility management services and transform the safety, comfort, and efficiency of the employees and related organizational operations.
- The impact of COVID-19 on the working environment is aggressively pushing facility managers to design new working models that include remote, onsite, and hybrid models. As corporates are increasingly adopting remote and hybrid work models, facility managers are deploying technology platforms for desk scheduling, smart tracking, and tools for effective collaboration, helping the growth of the facility management market.
