Facilities Management (FM) Market Key Companies – Aramark, CB Richard Ellis (CBRE), Colliers International, Compass Group, Cushman & Wakefield, EMCOR Group, Inc, G4S plc, GDI Integrated Facility Services, Inc., IBM Corporation, Interserve PLC

How will the rising significance of hygienic and well-maintained spaces transform facilities management market outlook over 2020-2026?

Global facilities management market is gaining massive traction on account of rising prominence of clean and well-maintained space among people.
Besides, outbreak of COVID-19 pandemic has urged public and private enterprises to implement effective health and safety measures which is anticipated to drive the adoption of facility management services. According to Global Market Insights, Inc. report, facilities management market size is projected to surpass USD 2 trillion by 2026.

Citing an instance of workplace safety solutions during the pandemic, Aramark introduced a digital product EverSafe™ OS. According to the company, this product offers simple and streamlined resources and tools to the organizations which will help them provide a safe work-environment to their employees and restore office operations not only amidst the ongoing pandemic scenario but also after it.

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Why are in-house services witnessing burgeoning demand across facilities management market?

In-house service segment is estimated to register a robust CAGR of 7% through 2026. The growth can be attributed to numerous advantages associated with in-house management. For instance, these services enable businesses to add workforce as per specific business requirements. In addition, it incurs a fixed cost which allow businesses to allocate funds accordingly. Apart from these advantages, increasing number of startups has also evoked the demand for in-house facility management which will favor the business growth over the foreseeable future.

How will management service segment fare across facilities management market?

The management service segment is projected to observe a substantial CAGR of 8% through 2026, considering the rising need for uninterrupted and efficient power supply across large number of organizations such as tourism, hospitality and various other critical infrastructure sectors. Further, there has been a significant upsurge in demand for preventive maintenance of HVAC and electrical distribution systems which will complement the segment growth further. Another important growth inducing factor for the segment is that the service providers get complete control over maintenance of electrical equipment and utilities in organizations which eases the overall operation.

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Why is government & public segment gaining immense popularity across facilities management industry?

Government & public sector segment is expected to register substantial gains over the forthcoming years owing to increased demand for facility management solutions in these enterprises. Government & public sector agencies majorly adopt these services for waste management, cleaning and maintenance of street and public areas, managing complete operations of public environments and government offices. These also enable governments to ensure safety, security and cleanliness of a large number of assets.

What makes Asia Pacific a remunerative hub for facilities management market?

Asia Pacific facilities management industry is estimated to secure a market share of more than 25% by 2026 owing to increasing government initiatives for the development of smart cities and several other large infrastructure projects in the region. Further, various government agencies are also collaborating for developing such infrastructure projects. For instance, in 2019, Japanese and Myanmar governments entered into a joint venture for the construction of Hanthawaddy International Airport in the Bago region of Myanmar. Reportedly, this construction is estimated to entail an investment of approximately USD 1.5 billion.

How are the major industry players in facilities management industry contributing to its growth?

Prominent industry players operating in facilities management market such as Aramark Corporation, CBRE Group Inc., Compass Group Plc, IBM Corporation, Oracle Corporation, etc. are inclined on expanding their product portfolio and diversifying sales and distribution network to strengthen their foothold in the market. For instance, in 2020, CBRE Group, Inc. announced its plans of investing USD 1 billion by 2021 for the expansion of its supply and distribution network.

Adding to that the company is also planning to increase the expenditure by nearly USD 3 billion over the span of next five years. Apparently, this enhancement will help the company develop and deliver new products, services, and solutions to a larger customer base.

Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

This release was published on openPR.