Facility management services market analysis- 2020–2027 | Increase in industrialization and urbanization, Surge in residential and non-residential construction drives the market

According to a new report published by Allied Market Research, titled, “Facility Management Services Market by Service Type, Type, and End User: Opportunity Analysis and Industry Forecast, 2020–2027,” the global facility management services market was valued at $954.1 billion in 2019, and is projected to reach $1,422.5 billion by 2027, registering a CAGR of 6.6% from 2020 to 2027.

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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.

Covid-19 Impact Analysis

The COVID-19 pandemic has forced many companies in the global facility management services market to halt their business operations to comply with new government regulations for curbing the spread of COVID-19. This halt in operations directly impacts the revenue flow of the global market. In addition, there is a halt in providing facility management services to end users such as commercial, industrial, and institutional due to lack of manpower. In addition, no new consignments are being received by the companies operating in this sector. Hence, stoppage in construction activities and lockdowns for several months have affected the global market, with slow recovery is anticipated during 2020-2027.

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Key Players

The key players profiled in the market report include 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, and Tenon Group.

Key Market 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

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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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