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Facility Management Services Market Trend, Share, Analysis & Forecast, 2020–2027 | Key Drivers, Restraints and Opportunities
Facility Management Services Market
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Moreover, government investment pertaining to the infrastructure development propels the global facility management services market growth. Nevertheless, lack of skilled workforce in developing countries in addition to lack of managerial awareness & dependency on in-house facility management team is expected to hinder the growth of the market.
The global facility management services market size was valued at $954.0 billion in 2019, and is projected to reach $1,422.6 billion by 2027, registering a CAGR of 6.6% from 2020 to 2027.
A rise in construction activities and increase in need for safety, comfort, and healthy environment for employees in addition to increase in awareness about outsourced services are expected to lead to the development of the global market. In addition, a strict norm to monitor waste disposal is anticipated to drive the growth of the market.
Furthermore, government investments in real estate sectors is expected to boost the growth of the construction industry, which, in turn, is expected to drive the growth of the global market. Moreover, increase in industrialization and urbanization, increases the demand for sustainable development of properties or buildings. Such a factor is anticipated to drive the growth of the market during the forecast period.
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Key Segments
By Service Type
Property
Cleaning
Security
Catering
Others
By Type
Outsourced
In-house
By End-user
Commercial
Institutional
Public/Infrastructure
Industrial
Others
By Region
North America
Europe
Asia-Pacific
LAMEA
Key Players
Arthur McKay & Co Ltd.
BVG India Ltd
CBRE Group, Inc.
EMCOR Group, Inc.
ISS World Services A/S
Knight Facilities Management
Quess Corp Ltd
Sodexo, Inc.
Spotless Group Holdings Limited
Tenon Group
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of Market Research Reports and Business Intelligence Solutions. AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains.
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