Facility Management Market Valuation Worth USD $119.4 Billion by 2030, At 11.8% CAGR – Report by Allied Market Research
The rise in demand for service outsourcing is anticipated to create massive opportunities for the growth of the industry.
PORTLAND, OR , UNITED STATES, UNITED STATES, May 4, 2023 /EINPresswire.com/ — The global facility management market generated $39.9 billion in 2020 and is projected to reach $119.4 billion by 2030, growing at a CAGR of 11.8% from 2021 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.
Major industry players such as – CA Technologies, iOFFICE, FM System, IBM Corporation, Accruent, Archibus, Oracle Corporation, PLANON, Trimble Inc. and SAP SE.
An increase in the number of small and medium enterprises (SMEs) across the globe, a surge in the adoption of innovative technologies such as cloud-based solutions, and a rapidly transforming organizational culture and work style are expected to drive the growth of the global facility management market.
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The report offers detailed segmentation of the global facility management market based on component, solution type, deployment model, enterprise size, industry vertical, and region.
By region, the market across North America held the lion’ share in 2020, accumulating more than one-third of the total market. The Asia-Pacific region, on the other hand, is expected to cite the fastest CAGR of 13.3% during the forecast period.
Based on components, the solution segment held the largest market share in 2020, holding nearly three-fifths of the total facility management industry. The service segment, on the other hand, is anticipated to cite the fastest CAGR of 12.8% during the forecast period.
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By deployment model, the on-premise segment held the majority share in 2020, garnering more than three-fifths of the total market. The cloud segment, on the other hand, is predicted to exhibit the fastest CAGR of 13.0% during the forecast period.
Key drivers that are propelling the growth of the market included in the report. Additionally, challenges and restraining factors that are likely to curb the growth of the market are put forth by the analysts to prepare the manufacturers for future challenges in advance.
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About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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