Market Size of Luxembourg 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 | Medium |
Major Players*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Luxembourg Facility Management Market Analysis
The Luxembourg Facility Management Market is expected to grow at a CAGR of above 2.5% over the forecast period 2022 to 2027. The country's facility management industry operates with integrated contracts provided by significant vendors across Europe, and small local players focus on single contracts and single-service solutions. However, given the dynamics occurring across the country, there are increasing opportunities to leverage facility management and corporate real estate in new ways.
- Approaches to on-site working shifted dramatically, and the FM sector needed to adapt accordingly. Technology and techniques have had to become increasingly mobile and flexible, and there is a heightened expectation from today's workforce about their wellbeing at work. At the same time, facilities managers are still adapting to the challenges of the hybrid workplace, such as dealing with supply-chain disruptions and material and labor shortages.
- As new technologies emerge, expectations change, and working practices develop, the industry must react to successfully meet the new technologies, which are opening new vistas for facility maintenance management software solution providers. Also, innovative technologies such as the Internet of Things (IoT), Big Data, and Machine Learning (ML) have become a critical part.
- Companies operating in the FM sector are moving towards a customer-centric approach with several digital transformations disrupting it now and then. For instance, this is among the driving forces for G4S to become a single-point solutions destination for all hard and soft facility services, with an integrated solution-based approach that demonstrates an in-depth understanding of customers' needs and requirements, helping to dominate in the industry.
- In recent years, Apleona, a provider of integrated facilities management, has announced the launch of its security and surveillance activities in Luxembourg in 2020. Apleona HSG Security & Service sàrl is the group's third service in Luxembourg, in addition to facility management and interior fittings.
- However, the lack of certainty regarding future labor costs and materials makes it riskier to build propositions, which could act as a significant restraint on the bidding process for long-term contracts by the players. Also, the outbreak of COVID-19 has had a mixed business impact on facilities management firms. The restrictions on the movement of people resulted in a decline in project work and a decreased level of activity across many customer sites.