Pune, Maharashtra -- (SBWIRE) -- 08/27/2020 -- Global Facility Management Market was valued at USD 42.21 billion in 2019 which is expected to reach USD 85.12 billion by 2027 at a CAGR 12.32%.

Latest published report on the Facility Management market, found on the Qualiket Research website revealed a great deal about various market dynamics. These driving factors influence the market from a very miniscule level to its holistic standard and can traverse limitations to assist the market achieve a significant growth rate over the analysis period of 2020-2027. The report is based on an extensive study supervised by adept analysts. Their sound knowledge and expertise in the field help in unearthing of factors and figures. The report is fulfilled with a volume-wise and value-wise analysis. This type of analysis offers a better outlook regarding the movement of the market and potential of the market.

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Facility management consist management methods and techniques for building management, infrastructure management for enterprises. Also, it includes multiple disciplines to ensure the functionality of the built environment by integrating people, process, place, and technology. Facility management is the co-ordination between facility's operations meant to make the organization as a whole more effective at what it does.

Market Drivers
Increase in demand for cloud based facility management solution considered as key driving factor which is expected to boost the global facility management market growth. Furthermore, rise in demand for facility management solutions integrated with intelligent software will positively contribute the market growth. Moreover, Increase in adoption of IoT and AI in facility management which is expected to propel the facility management market growth during this analysis period. In addition to that, increase in spending on infrastructural aspect can be cited as another driving factor which is expected to fuel the market growth. Also, rise in focus on optimization processes and energy efficiency improvements are will drive the market growth.

Market Restraints
However, lack of managerial awareness and standardization is the major restraining factor which is expected to hinder the global facility management market growth. Also, lack of skied workforce as well as integration of facility management with legacy ERP systems will affect the market growth during this forecast period.

Market Segmentation
Global Facility Management Market is segmented into type such as Single, Bundled, and IFM, by Service such as Professional Services, and Managed Services, by Solution such as
Strategic Planning and Project Management, Workplace and Relocation Management, Sustainability Management, Maintenance Management, and Others. Further, market is segmented into end user such as IT & Telecom, Healthcare, Retail, Education, BFSI, and Others.

Also, Global Facility Management Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.

Market Key Players
Various key players are discussed in this report such as IBM, ORACLE, SAP, TRIMBLE, ACCRUENT, MRI SOFTWARE, PLANON, and SERVICECHANNEL

Market Taxonomy
By Type
- Single
- Bundled
- IFM
By Service
- Professional Services
- Managed Services
By Solution
- Strategic Planning and Project Management
- Workplace and Relocation Management
- Sustainability Management
- Maintenance Management
- Others
By End User
- IT & Telecom
- Healthcare
- Retail
- Education
- BFSI
- Others
By Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa

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