Market Trends of Canada Facility Management Industry
This section covers the major market trends shaping the Canada Facility Management Market according to our research experts:
Outsourced Facility Management to Show Significant Growth
- Outsourcing facility management service providers entails primarily delegating task management to separate entities. It also entails having a different field manager for each service the organization requires, such as cleaning, reception, and vending machines. Using the services of specialized service providers has several advantages.
- The outsourced FM has been successfully used in various sectors, including the public sector, retail, professional services, healthcare, technology, logistics, manufacturing, and education. The areas that FM services look after vary widely, primarily depending on their type, the size of the company, and the sector in which it operates. Some organizations will only require a single service solution provider. This is driving the demand for single FM in the country.
- A company such as CBRE optimizes workplace performance while ensuring success with superior facility management and maintenance service. Currently, the company employs 340 professionals and has over 90 MSF under management in Canada.
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Commercial industry is expected to Hold the Highest Market Share
- The commercial end-user sector covers office buildings occupied by business services, such as corporate offices of manufacturers, IT and communication, and other service providers. Owing to this, the provision of necessary fitments and interiors and commercial buildings decoration and management has gained significant importance, thereby driving the market in the country's commercial sector.
- According to Canada Real Estate Market Outlook published in February 2021, the Canadian commercial real estate investment market is recovering from the coronavirus (COVID-19) crisis. Investment volumes in 2020 stood at CAD 35.28 billion as compared to CAD 45.17 billion in 2019. It is further expected to increase across all real estate sectors, reaching CAD 42.6 billion in 2021. This further suggested the growth in the studied market.
- The government entities are also taking necessary measures to efficiently utilize the government-owned spaces in Ontario, which has one of the largest and most complex real estate portfolios in Canada, from schools to courthouses. Further, During Ontario's 2022 budget, released in May 2022, the province announced plans to design, test, and implement co-working spaces in smaller cities and towns for Ontario Public Service employees, as well as optimize more government-owned offices.
- Such initiatives across the state are expected to drive the need for in-house and outsourced facility management services. Further, To help people live and work in their communities, the OPS will examine how best to design hybrid workplace environments that help reduce transportation congestion, contribute to environmental conservation and reduce future real estate costs while also maintaining excellence in the delivery of services.
