Market Size of Switzerland Facility Management Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 1.90 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Switzerland Facility Management Market Analysis
The Switzerland Facility Management Market is expected to grow by registering a CAGR of 1.9% during the forecast period. Switzerland ranks 6th out of the 130 economies included in the Network Readiness Index (NRI) 2021, published by the Portulans Institute. The Network Readiness Index (NRI) reflects the impact of information and communication technology in economies around the world, and with such instances, the demand for facility management is also driving.
- The increased adoption of cloud-based solutions and growing investments by the government to streamline the operations of industries such as construction, transport, and energy are driving the adoption of facility management solutions in the country.
- Furthermore, according to the Federal Department of Foreign Affairs, the services sector generates approximately 74% of Swiss GDP, while the industrial sector generates 25%. Less than 1% of the country's GDP is attributed to the agricultural sector.
- The growth of the industrial and the service sector has positively impacted the infrastructure sector, which is a major driver for the facility management services in the country. Key sectors that have attracted significant investments in Switzerland include information technology, scientific instruments, precision engineering, machine building, medical technology, and pharmaceuticals.
- The global outbreak of COVID-19 had a notable impact during its initial phase in the country as several restrictions imposed by the government slowed down the economic activities in the country. However, lifting most contaminant measures has triggered a strong rebound in the country's economic activities since the 2nd quarter of 2021. This is expected to create more opportunities as the awareness about digital technologies and effective facility management has increased.
- Although the country offers a positive outlook for the growth of the studied market, the increased instances of data breaches and cyberattacks are among the primary factors that may restrain the growth of the market, especially the facility management software segment. For instance, in January 2022, the Geneva-based International Committee of the Red Cross (ICRC) reported that it was exposed to a cyber attack that compromised the confidential information and personal information of more than 515,000 people.
