Pune, India -- (SBWire) -- 01/31/2019 --The overall facility management market is expected to grow ,The total size of the facilities management market is expected to increase from USD 32,210 million in 2019 to USD 59,330 million in 2026, at a compound annual growth rate (CAGR) of +11% during the forecast period. The facilities management market is in its growth stage. This can be attributed to the fact that there has been a growing adoption of disruptive technologies, such as cognitive computing, augmented reality, IoT and analysis, and robots and drones, in the area of facilities management. Facility management solutions have helped companies in different verticals improve their revenue margin by improving their overall operating efficiencies
The use of different solutions, such as CAFM, IWMS, commercial property management software and real estate asset management systems, in the real estate sector has allowed companies to generate significant revenues. These solutions help companies in the real estate and property sectors manage infrastructure changes, ensure the efficient use of space, increase profitability and reduce expenses, among others.
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Key companies operating in the global facilities management market are Arthur McKay & Co. Ltd., Bilfinger HSG Facility Management GmbH, Bellrock Property & Facilities Management Limited, Broadspectrum (Australia) Pty Limited, and ISS World Services A/S among others.
The market caters to end-users such as IT, ITES, BPO, and BFSI, manufacturing, infrastructure, healthcare, retail, education, and government. The exponentially growing services sector along with significant investments contribute to the growth of this end-user segment in the facility maintenance.
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However, some facility managers are gradually implementing facility management solutions,
Therefore, it has become necessary for companies in all vertical sectors to adhere to these government guidelines and strict regulations to improve the safety of the environment and its employees. In addition, facility managers face challenges to optimize energy consumption costs while ensuring the minimum environmental impact of their existing industrial infrastructure
Need to reduce operational costs for businesses lead to outsourcing of facilities management
Integrated designs to keep with energy reduction norms boosts adoption among businesses
The global facilities management market is segmented as follows;
Global Facilities Management Market, by Service type
Hard Services
Soft Services
Global Facilities Management Market, by Industry
Corporate
Government and Public Sector
Healthcare
Manufacturing
Residential and Education Institutions
Retail and Commercial
Others
The development of EEZs and mega food parks will be the main drivers of the market for facilities management services in India. With the development of numerous EEZs in India, suppliers face growth opportunities by offering management services related to facilities. EEZs offer companies and other benefits related to the company.
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Know About of Facility Management Services Market CAGR +11% by Application, Technology Service, Industry Vertical and Top Players Like GmbH, Bellrock Property
Facility Management services Market CAGR +11% By Application, Technology Service, Industry Vertical and Top Players like Arthur McKay & Co. Ltd., Bilfinger HSG Facility Management GmbH, Bellrock Property & Facilities Management Limited, Broadspectrum (Australia) Pty Limited, and ISS World Services A/S among others.