Facility Management Services Market is estimated to register a CAGR of 12% during the forecast period, 2018–2023
Pune, India -- (SBWIRE) -- 06/25/2018 -- Market Highlights:
Facility management services include services that are focused on delivering efficient services for enterprises in managing their facilities. The market is affected by various factors that contribute towards the growth of facility management services. These factors include the growing need for maintaining environmental and regulatory compliance and the growing demand for single integrated facility management for balancing the economies and financial regulations of the companies while adopting automation.
Facility Management comprises management methods and techniques of building management and infrastructure management of an organization to ensure the functionality of the built environment. It integrates people, places, processes, and technologies and assists the company to focus on its core competencies. Facility Management Services Market include project management, inventory management, maintenance management, operations management, and others that are focused on the delivery of services for enterprises in managing their facilities efficiently. Major factors that contribute towards the growth of the facility management services market are the growing need for maintaining environmental as well as regulatory compliances and growing demand for single integrated facility management for balancing the economies and financial regulations of the companies adopting automation in their facilities. Another major factor that fuels the growth of the market is the transformation of the physical workplace. As there is a huge advancement in cloud services adoption, various enterprises are focused towards the virtual workforce and mobility management of the enterprises. There is also an increased development in the sustainable infrastructure and deployment of software as a service, apart from cloud deployment.
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The prominent players in the facility management services market are International Business Machines Corp. (U.S.), Oracle Corporation (U.S.), SAP AC (Germany), MCS Solutions Pvt Ltd (India), ARCHIBUS, Inc. (U.S.), Trimble Inc. (U.S.), CA Technologies (U.S.), Accruent (U.S.), Planon Ltd. (Netherlands), and FM: Systems Group, LLC. (U.S.).
Other players in the market include iOFFICE Corp. (U.S.), Maintenance Connection Inc. (U.S.), JadeTrack Inc. (U.S.), MetricStream Inc. (U.S.), Facility management services eXpress LLC. (U.S.), eMaint (U.S.), Hippo CMMS. (Canada), FSi Limited (England), Indus Systems, Inc. (U.S.), Autodesk, Inc. (U.S.), NEMETSCHEK SE (Germany), Archidata Inc. (Canada), OfficeSpace Software Inc. (U.S.), FacilityONE Technologies llc (U.S.), and Apleona GmbH (Germany).
The global Facility Management Market services is estimated to grow at a significant rate during the forecast period from 2017 to 2023. Among these regions, the market was led by North America due to technological advancements in the region and early adoption of the technology. One of the major factors contributing to the growth of the facility management market in North America is the growing adoption of software in enterprises and government and public sectors. North America, due to early adoption of this technology, has experienced a high market share in the facility management services market.
Europe is one of the technically advanced regions in terms of adoption of new technologies. The region has the highest number of industrial and manufacturing plants thereby requiring facility management services to manage facility/plant related operations. The market in Europe is expected to show a decent growth during the forecast period. At present, the market is holding the second spot in terms of market share. One of the major reasons for the matured growth of the facility management market in Europe is due to rise in automation and adoption of solutions catering to automation.
By services, the market is segmented into project management, inventory management, maintenance management, operations management, and others.
On the basis of deployment, the market is segmented into cloud deployment and on-premise deployment.
On the basis of organization size, the market is segmented into SME and large enterprise.
On the basis of industry vertical, the market is segmented into BFSI, retail, IT & telecom, healthcare, government, energy and utilities, and others.
On the basis of region, the market is segmented into North America, Europe, Asia Pacific, and the rest of the world.
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Table of Contents
1 Executive Summary
2 Scope of the Report
2.1 Market Definition
2.2 Scope of the Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
List of Tables
Table1 World Population by Major Regions (2017–2023)
Table2 Global Facility Management Services Market: By Country, 2017–2023
Table3 North America Facility Management Services Market: By Country, 2017–2023
Table4 Europe Facility Management Services Market: By Country, 2017–2023
List of Figures
Figure 1 Global Facility Management Services Market Segmentation
Figure 2 Forecast Methodology
Figure 3 Five Forces Analysis of Global Facility Management Services Market
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