The market was valued at USD 25.3 billion in 2015. This market is expected to record an estimated CAGR of 13.97% during the forecast period (2015-2020), to reach a value of USD 48.64 billion by the end of 2020. As the facility management solutions facilitate efficiency and agility in business functioning, they are gaining significant importance in the organizations. The facility management concept comprises of software and solutions that enable efficient management and use of work space, real estate, assets, relocation of offices and buildings, and energy management; it standardizes services and streamlines processes. Enterprises are moving beyond the traditional concepts of facility management, to address rapid technology changes and today’s business needs that are helping in the increasing adoption of these solutions.
Some of the major drivers for the growth of the global facility management market include a change in the work culture of organizations and the emergence of cloud-based services. There have been a lot of economic and regulatory developments, which are further driving the growth of this market. Increase in adoption of Internet of things (IoT) is expected to open growth opportunities during and after the forecast period. Conversely, lack of managerial awareness in the present day generation is expected to hamper market growth during the forecast period.
The global facility management market is segmented by solution (strategic planning and project management, asset and inventory management, maintenance management, workplace and relocation management, sustainability management and others), service (consulting, managed services, integration and deployment), deployment type (on-premise and cloud), end-user (IT and telecom, healthcare, education, retail, manufacturing, real estate, banking, financial services and insurance, government and public administration, and others) and by region (North America, Europe, Asia-Pacific, the Middle East & Africa and Latin America)
This report describes a detailed study of the Porter’s five forces analysis of the market. All the five major factors in these markets have been quantified using the internal key parameters governing each of them. It also covers the market landscape of top players, which includes the key growth strategies, geographical footprint, and competition analysis.
The report also considers key trends that impact the industry and key profiles of leading companies in the market, which include –
Key Deliverables of the Study: