Facility management services market is growing by leaps and bounds and expected to witness a commendable growth at 12% CAGR during the assessment period (2017-2023). The facility management service providers operate by offering services in the likes of maintenance and care to commercial and institutional buildings and work places such as arenas, offices, convection centers, educational centers, hotels, malls and hospitals. Despite facilities management being an umbrella term there has not been much changes except with regards to use of technologies. Facility management comprises of multiple competencies such as leadership and strategy, property management and real estate, quality, project management, communication, human factors, environmental sustainability, business continuity and emergency preparedness.
There are a couple of factors that is propelling the growth of the facility management services market. Some of the market trends and factors in this market as per an analysis conducted by Market Research Future (MRFR) include wide use of disruptive technologies such as robots and drones, loT and analytics, augmented reality and cognitive computing within the facility management area. The additional factors that is contributing to the growth of facility management services market include the increasing need to maintain regulatory and environmental compliance coupled with the increasing demand for single integrated facility management to balance the companies’ financial regulations and economies while adopting automation. However, on the flip side, there are some factors that are likely to hinder the growth of the market such as lack of accessibility of skilled manpower, lack of awareness amid medium and small enterprises about facility management software services.
In MFRF’s report, the global facility management services market is segmented on the basis of services, deployment, organization size and industrial vertical.
Based on services, it is segmented into operations management, maintenance management, inventory management and project management.
Based on deployment, the facility management services market is segmented into on-premise and cloud deployment. Of these, cloud deployment has the maximum market share as it helps companies in maintaining costs and ensuring improved business agility. In fact, cloud computing applied in facility management is used for modifying scheduling and reporting, asset and safety management and lowering costs managing teams.
Based on organization size, the Facility Management Services Market is segmented into large enterprise and SME. Of these, large enterprise has the largest market share owing to the fact that these services help in guiding and controlling the complicated massive facility infrastructures for the organizations.
Based on industry vertical, it is segmented into energy and utilities, government, healthcare, IT & telecom, retail and BFSI.
Based on region, the global facility management services market cover growth opportunities and latest trends across North America, Europe, Asia Pacific and Rest of the World. Of these, North America leads the market owing to advancements in technology in this region coupled with early technology adoption. Besides the other factors include increasing adoption of software in public sectors, government and enterprises. The US is the leading contributor towards the facility management services market in this region. There is a growing demand for facility management services market in the Asia Pacific region as well due to the increasing demand for automation in production and manufacturing facilities. This region is experiencing a lot of changes in the manufacturing and infrastructure sectors.
Leading players profiled in the facility management services market include FM: Systems Group, LLC (US), Planon Ltd (Netherlands), Accruent (US), CA Technologies (US), Trimble Inc (US), ARCHIBUS, Inc (US), MCS Solutions Pvt Ltd (India), SAP AC (Germany), Oracle Corporation (US) and International Business Machines Corp (US).
Other players profiled in the market include Apleona GmbH (Germany), FacilityONE Technologies llc (U.S.), OfficeSpace Software Inc. (U.S.), Archidata Inc. (Canada), NEMETSCHEK SE (Germany), Autodesk, Inc. (U.S.), Indus Systems, Inc. (U.S.), FSi Limited (England), Hippo CMMS. (Canada), eMaint (U.S.), Facility management services eXpress LLC. (U.S.), MetricStream Inc. (U.S.), JadeTrack Inc. (U.S.), Maintenance Connection Inc. (U.S) and iOFFICE Corp. (U.S.).
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