Facility Management Market 2020: Latest trends, SWOT Analysis and industry vision to 2027

The Objective of the “Global Facility Management Market” report is to depict the trends and upcoming for the Facility Management Market industry over the forecast years. Facility Management Market report data has been gathered from industry specialists/experts. Although the market size of the market is studied and predicted from 2017 to 2023 mulling over 2016 as the base year of the market study. Attentiveness for the market has increased in recent decades due to development and improvement in the innovation.

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The global facility management market was valued at $31,207 million in 2016 and is projected to reach $80,849 million by 2023, growing at a CAGR of 14.4% from 2017 to 2023. The facility management services segment is anticipated to grow at the highest rate during the forecast period. Facility management market is driven by increase in the adoption of cloud-based solutions, change in organization structure & work management, and introduction of novel solutions by the key players. In addition, rise in demand for service outsourcing, high internet penetration in Asia-Pacific, and surge in demand for IoT among end-use are expected to offer significant growth opportunities for the market. However, lack of awareness about it benefits and additional features is anticipated to hamper the market growth.

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The cloud-based deployment segment accounted for the highest share of around 69% of the total revenue in 2016 and is projected to grow at the fastest CAGR during the forecast period. Furthermore, the facility management market for small & midsize organizations is projected to grow at the highest rate during the forecast period. The public-sector segment accounted for the highest revenue share in 2016, while the healthcare segment is anticipated to grow at a rate of 15.6%.

Post-COVID-19 innovation must focus on the digitalisation of buildings, workplace optimisation, providing healthy and safe buildings, new customer-centric business models, user experience, and holistic productivity solutions. There will be an increased need to focus on organisational resilience, sustainability, and augmented operations.

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The facility management market is in its growth phase and is expected to grow at a CAGR of 14.4% during the forecast period. Organizations have focused on offering effective and efficient solutions for various end-users. Currently, innovative and cost-effective solutions are being offered by various vendors in the market, which cater to the growing needs of improved facility management among end-user industries. North America was the highest shareholder, in terms of revenue, while Asia-Pacific is expected to grow at the highest CAGR during the forecast period.

Key questions answered in Facility Management Market research study:

• What is the market growth rate of Facility Management Market from 2017-2023?

• What will be the global market size of the market from 2017 to 2023?

• Who are the leading global players in the Facility Management Market?

• What are the current trends and predicted trends?

• What are the challenges faced in the Facility Management Market?

• Which will be the niches at which players profiling with thorough plans, financials, and also recent advancements should set a presence?

• Which will be the anticipated growth rates for your own Facility Management Market economy altogether and also for every segment inside?

• Which will be the Facility Management Market application and types and forecast accompanied closely by producers?

• What are the conclusions of the Facility Management Market report?

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The report features a competitive scenario of the global facility management industry and provides a comprehensive analysis of key growth strategies adopted by major players. The key players profiled in the study are,

• IBM Corporation

• Oracle Corporation

• SAP SE

• Ioffice Corporation

• Archibus Inc.

• FM System Inc.

• CA Technologies Inc.

• Accruent LLC

• Planon Corporation

• Trimble Inc.

These players have adopted competitive strategies such as geographical expansions, mergers & acquisitions, new product launches, and partnerships & collaborations to augment the growth of the facility management market.

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