Facilities Management Market 2020 to 2025 - Key Technologies and Innovations | Aramark, CA Technologies, CB Richard Ellis, EMCOR Group, G4S, IBM, Interserve, OCS Group, Oracle, Planon Corporation, Serco Group, Sodexo, Tenon FM, Veolia, and Compass Group

The rapid growth in the tourism sector is adding impetus to global facilities management market forecast. These services are particularly utilized at restaurants, airports, entertainment centers and hotels. They assist the tourists by rendering a satisfactory customer experience in order to attract potential and retain new customers.

Global facilities management market is estimated to cross USD 2 trillion by 2025. The services help in providing reliable and skilled facilities management workforce that can ensure the maintenance of hygiene and the environment in tourist areas.

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The increase in prevalence of offices is propelling construction of commercial buildings. A rise in investments made by the government and private entities in both, developed and developing nations to facilitate construction in various fields is a vital factor supplementing the market growth over the years. The Canadian government allocated funds worth USD 81.2 billion across five important infrastructure streams such as public, green, trade, transit, transportation and social in the year 2017.

The country's government is increasingly undertaking initiatives to facilitate development of rural and northern community infrastructure with the launch of 'Investing in Canada' plan that aims at building advanced economic cities.

Company profiled in facilities management market report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
1. Aramark
2. CA Technologies
3. CB Richard Ellis (CBRE)
4. Colliers International
5. Cushman & Wakefield
6. EMCOR Group Inc
7. G4S plc
8. IBM Corporation
9. Interserve
10. ISS Facilities Services Inc.
11. Jones Lang LaSalle Incorporated
12. OCS Group
13. Oracle Corporation
14. Planon Corporation
15. Serco Group
16. Sodexo
17. Tenon FM
18. Veolia
19. Compass Group

Surging number of construction projects will fuel need for different FM services like maintenance, operation, construction, electric and mechanical activities and post-construction requirements such as building cleaning and maintenance, driving facilities management market trends.

The outsourced services segment in facilities management market is likely to grow at a considerable rate over the period of study owing to the emphasis of organizations on core competencies to achieve competitive advantage. Mounting competition between businesses is steering the organizations to outsource their no-core operations to third-party service vendors.

By outsourcing the facilities management services, the daily working of the center can be maintained and governed by skilled and professionally trained labors. The overall cost of operations is gradually reduced as there is no need to recruit and train in-house personnel to manage the facility workings.

With respect to types of services, the facilities management market is bifurcated into soft services and hard services. Hard services segment will dominate the market share over the projected period owing to the construction of smart offices and homes. Rising affordability among people has led to the demand for advanced and technologically innovative commercial and residential spaces.

Smart homes and offices include several physical assets such as elevators, electrical and mechanical equipment, fire safety procedures and HVAC systems. Such mechanisms require constant maintenance to carry out uninterrupted operations. The hard facilities management service providers have skilled workers to manage the services without disrupting the core operations of any entity.

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The tourism industry in the U.S. has witnessed unprecedented growth over the years thereby magnifying the demand for FM services across North America. According to the International Trade Administration (ITA), in the year 2017, the travel and tourism industry in the U.S. generated a total economic output of over USD 1.6 trillion.

The rise in number of tourists has led to the use of facility management services across shopping malls, airports, amusement parks and large food centers. Leading facilities management market players are aiming at securing government contracts for facility management services to improve their profitable returns.

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