Ocean View, DE -- (SBWIRE) -- 05/20/2020 -- Rising investments in real estate as well as construction worldwide will drive facilities management market trends over the forecast timeframe. For example, the government of Canada had issued additional funding of USD 81.2 billion across five main infrastructure streams that include trade, social, transportation, public transit and green infrastructure.

Canadian government has also taken numerous initiatives to enable the development of infrastructure for rural and northern communities. For instance, 'Investing in Canada' is a plan taken up by the Canadian government to build and develop advanced economic cities. There has been an increase in the investments in various smart city projects around the globe that has resulted in an increasing demand for facilities management services.

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Key players in facilities management market: - Aramark, CA Technologies, CB Richard Ellis (CBRE), Colliers International, Cushman & Wakefield, EMCOR Group, Inc, G4S plc, IBM Corporation, Interserve, ISS Facilities Services Inc., Jones Lang LaSalle Incorporated, OCS Group, Oracle Corporation, Planon Corporation, Serco Group, Sodexo, Tenon FM, Veolia, and Compass Group

The outsourced services segment in facilities management market is likely to grow at a considerable rate over the period of study owing to the emphasis of organizations on core competencies to achieve competitive advantage. Mounting competition between businesses is steering the organizations to outsource their no-core operations to third-party service vendors.

By outsourcing the facilities management services, the daily working of the center can be maintained and governed by skilled and professionally trained labors. The overall cost of operations is gradually reduced as there is no need to recruit and train in-house personnel to manage the facility workings.

With respect to types of services, the facilities management market is bifurcated into soft services and hard services. Hard services segment will dominate the facilities management market share over the projected period owing to the construction of smart offices and homes. Rising affordability among people has led to the demand for advanced and technologically innovative commercial and residential spaces.

Smart homes and offices include several physical assets such as elevators, electrical and mechanical equipment, fire safety procedures and HVAC systems. Such mechanisms require constant maintenance to carry out uninterrupted operations. The hard facilities management service providers have skilled workers to manage the services without disrupting the core operations of any entity.

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The rise in number of tourists has led to the use of facility management services across shopping malls, airports, amusement parks and large food centers. Leading facilities management market players are aiming at securing government contracts for facility management services to improve their profitable returns.

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