Market Size of Chile Facility Management Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 1.47 Billion |
| Market Size (2029) | USD 1.81 Billion |
| CAGR (2024 - 2029) | 4.30 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Chile Facility Management Market Analysis
The Chile Facility Management Market size is estimated at USD 1.47 billion in 2024, and is expected to reach USD 1.81 billion by 2029, growing at a CAGR of 4.30% during the forecast period (2024-2029).
- The government-led construction initiatives in public infrastructure projects and the growing emphasis on green building practices are fuelling the demand for facility management in the country. Also, the rapid growth of the tourism industry is witnessing the increased demand for FM services in the country from the hotels, resorts, and accommodations facilities.
- Furthermore, the steady growth of commercial and industrial development is projected to support market growth, creating the need for both hard and soft services, as well as increased investor activity, cost control initiatives, adoption of sustainable practices, and technological advancements to contribute to the market growth.
- The low awareness of the benefits of integrated facility management is hampering the facility management market's growth. The presence of the local business environment is a significant challenge, leading them to shift from managing facilities from an in-house model to depending on professional firms.
- As part of expansion strategy from different sectors, several companies are expanding their international presence and establishing new offices. For instance, in April 2022, Globant, an IT and Software company, opened its new office in Santiago, with more than 3000 m2. Furthermore, the company planned to have three offices in the country by the end of the year.
- The pandemic also called for a renewed view on hygiene and has highlighted the need for FM services, such as cleaning, disinfecting, and sanitization. The demand for specialized area-based services has increased. Post-pandemic, as restrictions are being eased across the globe, FM players witness a significant rise in demand for professional sanitization and disinfection services from commercial entities.
