Facility Management Market Competitive Landscape, Growth Factors, Revenue Analysis to 2028 – IndustryARC
Global Facility Management Market Estimated to Reach $52.9 Billion by 2026, Forecast to Grow at a CAGR of 9.1% During 2021-2026
HYDERABAD, TELANGANA, INDIA, September 21, 2022 /EINPresswire.com/ — Global Facility Management Market is estimated to reach $52.9 billion by 2026, forecast to grow at a CAGR of 9.1% during 2021-2026. Increasing penetration of outsourced facility management services has increased significantly on a global scale over the last two decades. Nowadays customers expect their facility management service provider to have wide knowledge of the corporate mission, and the competency to address the customer’s specific needs, which is expected to drive the market in the long term. Facility management providers are expanding with their expansion of the facility management outsourcing market. The facility management providers are majorly focusing on finding new and innovative ways to make facility assets and services not only relevant but also critical to enhance the customer’s experience, business administration, occupation physiology, and enabling their core business. Property management service offers with property owner’s short, including long term financial objectives. Service and solution providers develop a strategic property operations plan founded in a zero-based operating budget and capital plan for the customers. Facility management experienced property managers and accounting professionals work closely with the engineering sciences staff to monitor and manage all operating costs to achieve the greatest possible return on investment.
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Key Takeaways:
This IndustryARC report on Facility Management Market highlights the following areas –
1. North America and Europe have the highest market penetration for integrated facility management in 2020.
2. High security and stringent regulation have an opportunity for the management teams to deploy technological solutions which can enhance the facility
management process at the time of extenuating the associated risk.
3. Outsourcing on-demand facilities management services offer major benefits over creating a team in-house and handling on-demand needs for customer facility
4. Different regulatory bodies are encouraging companies to maintain proper industry standards and mandate for all business processes. These regulatory bodies have played a major role in ascribing to a large number of customers across various end-user verticals.
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Segmental Analysis :
1. By Solution, the type is further divided into the Integrated Workplace Management System, Building Information Modeling, Facility Operations & Security Management, Facility Environment Management, and Facility Property Management.
2. By vertical type, construction and real estate segment held a major market share in 2020 at 35.6% share, across the globe. Nowadays facility management has become an important parameter for construction and real estate verticals.
3. North America held a major market share of more than 34.9% in 2020 across the globe. North America owing to the innovation and adoption of advanced automation and facility management solution made possible to keep a major market share in 2020.
Competitive Landscape :
The top 5 players in the Facility Management Industry are –
1. Apleona
2. Archibus
3. CA Technologies
4. Autodesk
5. SAP
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