Fueled by these current and emerging trends, the global market for facilities management is expected to report a 13.6% CAGR during the forecast period. This market is expected to witness an upward growth in value from US$606.4 bn in 2015 to US$1,887 bn by 2024.
Albany, NY -- (SBWIRE) -- 12/07/2016 -- This report provides an analysis of the global facilities management market for the period from 2016 to 2024, wherein the period from 2016 to 2024 comprises the forecast period and 2015 is the base year. Data for 2014 is provided as historical information. The report covers all the major trends and technologies playing a major role in the growth of the facilities management market over the forecast period. It also highlights various drivers, restraints, and opportunities expected to influence the market's growth during this period. The study provides a holistic perspective of the growth of the facilities management market throughout the forecast period in terms of revenue estimates (in US$ Bn), across Asia Pacific (APAC), Latin America (LATAM), North America, Europe, and Middle East & Africa (MEA). The report provides a cross-sectional analysis of the global facilities management market in terms of market estimates and forecasts for all the segments across different geographic regions.
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Facilities management involves the management and maintenance of support services across multiple industries. Facilities management services are used to enhance the quality of core business processes and increase the efficiency of service throughout entire service application. The demand for reduced operational cost of business processes is expected to drive the facilities management market around the globe. Similarly, important government regulations and standards impended on various industries and rising adoption of outsourced services for the maintenance and support of business processes are expected to drive the market for facilities management. In addition, with the increasing adoption of facilities management market many of the service providers are focusing on delivering customized facility services according to demand. Similarly, companies prefer total facilities management services and bundled facilities management services delivery systems to enhance the overall performance of services.
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On the basis of service type, the facilities management market is segmented into hard services and soft services. On the basis of industry, the facilities management market is segmented into the corporate, government and public sector, health care, manufacturing, residential and education institutions, retail and commercial, and others (food, sport, etc.) segments. The report also includes competitive profiling of the major players associated with the facilities management market. The important business strategies adopted by them, their market positioning, and recent developments have also been identified in the research report. The increasing demand for efficiency and quality of services have led to the increased presence of facilities management service providers in the market. The major players in facilities management market include Arthur McKay & Co Ltd., Bellrock Property & Facilities Management Ltd., Bilfinger HSG Facility Management GmbH, Broadspectrum (Australia) Pty Ltd., ISS World Services A/S, Knight Facilities Management, Quess Corp Ltd., Sodexo, Inc., and Spotless Group Ltd.
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