Portland, OR -- (SBWIRE) -- 07/12/2017 -- Facility management (FM) is a professional management discipline with an objective to coordinate demand and supply of various facilities and services within the private and public organizations. It encompasses multi-disciplinary actions within the built environment as well as the management of the impact by these activities on people and the workplace. It ensures the functionality of the built environment by integrating people, process, place, and technology. The core competencies of FM include communication, finance & business, environment sustainability, strategy planning & leadership, project management, quality, property & real estate management, human factors, business continuity, technology, and others. It offers improved capital and expense accounting, improved efficiency, cost savings, effective planning & budgeting, and other benefits to the organization.

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The facility management market is expected to register significant growth in the short and long run, attributed to change in work pattern in organizations globally, rise in adoption of cloud-based deployments, and growth in need to have regulatory and environmental obedience. Other factors that fuel the growth in facility management market are an increase in demand for services outsourcing, development of adequate infrastructure for technological adoption in small and medium scale organizations, and growth in adoption of Internet of Everything (IoE). However, lack of awareness about the term and its benefits is expected to hamper the market growth.

The global facility management market is segmented based on solution, services, industry vertical, and geography. Based on solution, it is categorized into asset management, workplace & relocation management, strategic planning management, real estate & lease management, maintenance management, and others.

Facility Management Market Key Segments:

By Solution

- Asset Management
- Workplace & Relocation Management
- Strategic Planning Management
- Real Estate & Lease Management
- Maintenance Management

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By Services

- Integrated Services
- Managed Services

By Industry Vertical

- Government
- Retail
- Banking, Financial Services, and Insurance(BFSI)
- Healthcare
- IT & Telecom
- Manufacturing
- Real Estate
- Energy & Utilities
- Education