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Facilities Management Market Analysis: Revenue on the Rise | Aramark, CA Technologies, CBRE, Colliers International, Cushman & Wakefield, EMCOR Group, Inc., G4S, IBM, Interserve, ISS Facility Services - North America, JLL, OCS Group UK, Oracle, Serco, Sod
Facilities Management Market
According to International Trade Administration (ITA), the U.S. travel and tourism industry garnered an economic output of over US$ 1.6 trillion in 2017. The dramatic upsurge witnessed in the number of tourists has been instrumental in rendering facilities management services across shopping malls, airports, amusement parks, and large food centers.
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Stakeholders envisage facilities management market share to proliferate at a robust pace in the wake of unprecedented surge in smart city projects. Smart cities--integrated, powered and enabled by digital technologies--have propelled commercial spaces, transportation sector, namely. In recent years, awareness of facilities management has heightened owing to expanding tourism and hospitality industries.
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. CBRE
4. Colliers International
5. Cushman & Wakefield
6. EMCOR Group, Inc.
7. G4S
8. IBM
9. Interserve
10. ISS Facility Services - North America
11. JLL
12. OCS Group UK
13. Oracle
14. Serco
15. Sodexo
16. Veolia
17. Compass Group
Palpable surge in investments in construction and real estate is expected to underscore robust-looking facilities management market. For instance, the Canadian government issued an additional funding of US$ 81.2 bn in 2017 across five main funding streams, including green infrastructure; public transit; social infrastructure; trade & transportation projects and meeting the 'unique' needs of rural and northern communities. Apparently, the unique needs include facilities to underpin food security, improved broadband connectivity and local access roads.
Rapid increase in industrialization will help the manufacturing companies to expand, creating the need outsource more management requirements at their facilities to be able to improve the focus on their basic competencies. These facility management services include operation, maintenance and construction. Substantial growth has been attributed to large number of construction activities and projects that have been taken up by the governments to fuel economic expansion.
Increasing post-construction services like the cleaning and maintenance of the buildings and electric and mechanical work will also drive facilities management market trends. As the number of commercial structures rises, the need to hire or contract efficient, cost-effective FM service provides will grow. The industry represents a vital employment source for people.
Hard service segment will own a large part of the facilities management market share by 2025 owing to the rapid increase in the development of smart offices and homes. Smart homes and offices have various physical assets like elevators, HVAC systems, Electrical & mechanical equipment and fire safety systems.
These systems need robust installation and regular maintenance for their smooth operations which would boost the demand for facilities management services and solutions. The providers of hard FM services are known to have skilled labor that manage work like electricals, civil construction and mechanical work without interrupting the customer's core business operations.
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Leading companies are grappling to secure a government deal for FM services to augment their profitability and expand facilities management market. In Q1 2019, Madrid City Government inked a four-year contract worth 18.62 mn with the facility management company ACCIONA. Reportedly, the Madrid City picked ACCIONA to enhance energy efficiency in 400 municipal buildings, including sports centers, schools, social and cultural centers, among others.
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