Global Facility Management Market is valued USD 28.4 billion in 2016 is anticipated to grow USD 78.6 billion with the compounded annual growth of 11.97% over the forecast period 2018-2025.
New York 15 September 2018, As per the new research study conducted by Bizwit Research & Consulting, Global Facility Management market industry is poised to raise USD 78.6 billion by 2025. The major factors speculated to augment the markets are increasing development of the sustainable infrastructure, changing focus to virtual workplace and mobility, growing adoption of IoT and connected devices for building automation, requirement to maintain regulatory and environmental compliance, and rising development of the sustainable infrastructure. Dependency on the in-house facility management team and lack of managerial awareness is one of the key restraining factors of the market. Implementation of the digital twin technology for facility asset management and integration of BIM with facility management solutions are key areas for potential growth in the facility management. Facility management is a professional management discipline focused upon the efficient and effective delivery of support services for the organizations which it serves.
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Global Facility Management Market Size Study By Component (Solution (Facility Operations & Security Management, Integrated Workplace Management System, Facility Environment Management, Building Information Modelling, Facility Property Management), and Services), by End-User, and By Regional Forecasts, 2018-2025
The industry is seeming to be fairly competitive. Some of the leading market players include Jadetrack, IBM, Emaint, Oracle, Maintenance Connection, SAP, Hippo Cmms, Archibus, Apleona, Trimble, Indus Systems, CA Technologies, iOFFICE, Accruent, Autodesk, Planon, Metricstream, FM Systems, MCS Solutions, Facilities Management Express, FSI, and so on. The fierce competitiveness has made these players spend in product developments to improve the customer’s requirements.
Key findings of the study:
- North America region accounted for the leading market share, more than 25% of the total market in 2016.
- Asia Pacific region will be the highest growing segment with respect to geographical segmentation, the region is likely to grow by almost over 13% CAGR over the forecast period 2018-2025.
- The increasing number of public-private partnership projects in the North America region is complimenting the growth rate
- M&A activities along with subsidiary formation are key strategies observed that are being taken by major players.
Bizwit Research & Consulting LLP has considered following segments for the study:
- Facility Operations & Security Management
- Integrated Workplace Management System
- Facility Environment Management
- Building Information Modelling
- Facility Property Management
- Auditing & Quality Assessment
- Deployment & Integration
- Support & Maintenance
- SLA Management
- Government & Defense
- Telecom & IT
- Banking, Financial Services, and Insurance (BFSI)
- Energy & Utilities
- North America
- Asia Pacific
- Latin America
- Rest of the World