Market Research Future (MRFR) in its new “Facility Management Services Market” report, states that the global market of facility management services is growing at a rapid pace. The facility management service market is expected to expand at a 12% CAGR during the assessment years of 2017 to 2023. Providers of facility management services offer services, such as, care and maintenance of institutional and commercial buildings. Services are also for work places, such as offices, arenas, educational centers, convection centers, malls, hotels, and hospitals. Moreover, the work of facility management extends for multiple competencies, such as property management and real estate, leadership and strategy, project management, quality, human factors, communication, business continuity, environmental sustainability, and emergency preparedness. These benefits of facility management services are expected to propel the expansion of the market, globally. Another factor that can boost the market expansion is the disruptive forces of modern technologies, such as loT and analytics, robots and drones, cognitive computing, and augmented reality can boost the expansion of the market in the years to come.
MFRF’s segmental study of the global facility management services market is done on the basis of deployment, organization size, services, and vertical.
By services, the market is segmented into maintenance management, operations management, project management, and inventory management.
By deployment, the market is split into cloud deployment and on-premise. The cloud deployment segment is likely to show a sharp rise. Cloud technology helps organizations in maintaining price and ensure improved business agility. In addition, cloud computing simplifies facility management task to modify, schedule, and report data, and also ensure asset safety management at a lower cost.
By size of organization, the market is sectioned into SME and large enterprise. The large enterprise segment is likely to hold the largest market of the global market. This is due to the ability of facility management services to control complicated massive facility infrastructures of organizations is encouraging large enterprises to adopt the same.
By vertical, Facility Management Services Market is segmented into government, energy and utilities, IT & telecom, healthcare, BFSI, and retail.
Detailed Regional Analysis:
By region, the facility management services market covers areas, North America, Europe, Asia Pacific and the Rest of the World (RoW). The facility management service market in North America is expected to spearhead growth in the years of evaluation. This is because of the area boasting of the presence of latest technologies and their early adoption. Besides, factors, such as increase in the adoption of software in government, public sectors, and across enterprises can surge the regional market. The market in the US is expected to make high revenue for the North America market. The surge in the demand for facility management services in Asia Pacific because of the increase in the demand for automation in manufacturing facilities. As APAC experience a lot of changes in the production sector, the regional facility management market is expected to surge.
Market Key Players:
MRFR listed a few strong contenders of the facility management services market. They are; Planon Ltd (Netherlands), FM: Systems Group, LLC (US), CA Technologies (US), Accruent (US), ARCHIBUS, Inc (US), Trimble Inc (US), SAP AC (Germany), MCS Solutions Pvt Ltd (India), International Business Machines Corp (US), Oracle Corporation (US), FacilityONE Technologies LLC (U.S.), Apleona GmbH (Germany), Archidata Inc. (Canada), OfficeSpace Software Inc. (U.S.), Autodesk, Inc. (U.S.), NEMETSCHEK SE (Germany), Indus Systems, Inc. (U.S.), Hippo CMMS. (Canada), FSi Limited (England), Facility management services eXpress LLC. (U.S.), eMaint (U.S.), JadeTrack Inc. (U.S.), MetricStream Inc. (U.S.), iOFFICE Corp. (U.S.), and Maintenance Connection Inc. (U.S).
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