New Construction research report from Markets and Markets is now available from Fast Market Research
Boston, MA -- (SBWIRE) -- 05/29/2014 -- Facility Management Market by Solutions (CAFM, IWMS, CMMS, BIM, IWMS) & Services - Worldwide Market Forecasts and Analysis (2014-2019)
Across verticals several organizations are exhibiting high levels of interest in deploying IT solutions and systems. The prime reason for this would be the ease these solutions bring in the organization. These solutions bring transparency in operations and processes, and align support functional processes with core operations in the business. IT based facility management solutions or CAFM solutions can be considered among such solutions. These solutions align admin, technical, infrastructure, and environment related support functions with the core business objectives and optimize the profitability.
IT based facility management solutions help facility managers to track and manage organizational resources. These solutions enhance the optimal use of resources and bring down the operational costs in any facilities. Decisions related to resource utilization have both short term and long term impacts on profit making abilities in organization. These solutions track and manage the information on usage and storage of resources such as inventory, people, or property (owned or leased). Facility managers can use this information to identify patterns from past and present. On the basis of these identified patterns, facility managers can make decisions, keeping future perspective in mind. These future perspectives include several aspects such as resource utilization, space utilization, and environment sustainability among others. Strategic decisions taken based on this information help organizations to take better decisions. CAFM tools use several IT tools such as database, visual data display tools and geographic information systems (GIS) and services and then information is conveyed in graphical and pictorial form to the facility managers. These IT tools remain at the core of CAFM solutions.
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IBM, Archibus, Oracle, and Manhattan Software are among the prominent players which are offering reliable solutions to organizations. Factors responsible for driving the high growth in this market are high growth in infrastructure development, and enhanced return on investments (ROI) capabilities among others. MarketsandMarkets finds that the global facility management market is estimated to grow from $24.65 billion in 2014 to $43.69 billion by 2019. Over the forecast period, this market is expected to experience high adoption in Asia-Pacific, and MEA regions.
For the market sizing and forecasting, several assumptions have been taken into consideration such as economic, regulatory, and technological. For instance, exchange rates, one of the economic factors, are expected to have a moderate rating of impact on this market. Therefore, dollar fluctuations are expected to not seriously affect the forecasts in the emerging APAC regions.
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