Facility Management Market Size 2021 Growth Statistics, Industry Demand, Top Players Data, Future Innovation Sales, Consumption Status, Global Share, Upcoming Trends, Business Boosting Strategies, Revenue and Forecast 2027

Facility management encompasses various professional disciplines, which are focused on effective and efficient delivery of numerous support services for an organization that it serves. It ensures functionality of the built environment by integrating place, people, process, and technology.

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Facility management solutions enable property and facility managers to achieve better workflows and reduce costs through increased efficiencies, better communications, scheduling, project management, and reporting. Facility management solutions include business analytics, extensive reporting, workflow management, and others.

These kinds of software are integrated with other IT systems such as building technology, ERP software, GIS solution, and BIM models or CAD software. It is designed to perform various functionalities, including asset management & tracking of important equipment information, management of maintenance costs, management of recurring tasks, to increase asset efficiency, reduce space & maintenance cost, and others.

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The growth of the global facility management market is driven by increase in adoption of cloud-based solutions, change in dynamics of organization work style, and rise in adoption of innovative strategies & frequent product launches by the key vendors. Furthermore, high internet penetration and development of the construction industry in Asia-Pacific, South America, and Africa drive the market growth. In addition, increase in demand for service outsourcing and high adoption of IoT among end users are expected to offer considerable growth opportunities for the facility management market. However, lack of awareness about facility management solutions and their benefits hamper the market growth in the near future.

Facility management market is segmented based on component, deployment model, organization size, industry vertical, and geography. On the basis of component, the market is bifurcated into solution and services. By solution, it is categorized into asset management, workplace & relocation management, strategic planning management, real estate & lease management, maintenance management, and others.

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As per services, it is classified into integrated services and managed services. Based on deployment model, it is divided into on-premise and cloud based. According to organization size, it is fragmented into large, and small & midsize. Based on industry vertical, the global market is studied across BFSI, IT & telecom, public sector, healthcare, manufacturing, retail, real estate, and others (energy & utilities and media & entertainment). Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Key players profiled in the facility management market report include IBM Corporation, Oracle Corporation, SAP SE, Ioffice Corporation, Archibus, Inc., FM System, Inc., CA Technologies, Inc., Accruent, LLC, Planon Corporation, and Trimble, Inc.

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KEY BENEFITS FOR STAKEHOLDERS

In-depth analysis of the global facility management market along with its dynamics is provided to understand the market scenario.
Quantitative analysis of the current trends and future estimations from 2017 to 2023 is provided to assist strategists and stakeholders to capitalize on prevailing opportunities.
Porter’s Five Forces analysis examines the competitive structure of the facility management market and provides a clear understanding of the factors that influence the market expansion.
A detailed analysis of the geographical segments enables identification of profitable segments for market players.
Comprehensive analysis of the trends, sub-segments, and key revenue pockets are provided in the report.
Detailed analysis of the key players operating in the global facility management market and their business strategies are anticipated to assist stakeholders to take informed business decisions.
Profile analysis of leading players that operate in the facility management market are provided in the report, which highlight the major developmental strategies such as mergers & acquisitions, expansions, and new product launches adopted by these companies.

According to Statista, as of 2021 data, the United States held over ~36% of the global market share for information and communication technology (ICT). With a market share of 16%, the EU ranked second, followed by 12%, China ranked third. In addition, according to forecasts, the ICT market will reach more than US$ 6 trillion in 2021 and almost US$ 7 trillion by 2023. In today’s society, continuous growth is another reminder of how ubiquitous and crucial technology has become. Over the next few years, traditional tech spending will be driven mainly by big data and analytics, mobile, social, and cloud computing.

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This report analyzes the global primary production, consumption, and fastest-growing countries in the Information and Communications Technology(ICT) market. Also included in the report are prominent and prominent players in the global Information and Communications Technology Market (ICT).

KEY MARKET SEGMENTS

By Component

Solution
Asset Management
Workplace & Relocation Management
Strategic Planning Management
Real Estate & Lease Management
Maintenance Management
Others (Sustainability Management and Incident Management)
Services

By Deployment Model

On-premise
Cloud-based

By Organization Size

Large
Small & Midsize

By Industry Vertical

BFSI
IT & Telecom
Public Sector
Healthcare
Manufacturing
Retail
Real Estate
Others

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BY Region

North America
U.S.
Canada
Mexico
Europe
UK
France
Germany
Rest of Europe
Asia-Pacific
China
Japan
India
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Arica

What is the goal of the report?

The market report presents the estimated size of the ICT market at the end of the forecast period. The report also examines historical and current market sizes.

During the forecast period, the report analyzes the growth rate, market size, and market valuation.

The report presents current trends in the industry and the future potential of the North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa markets.

The report offers a comprehensive view of the market based on geographic scope, market segmentation, and key player financial performance.

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Following are the questions answered by the Market report:

What are the goals of the report?

This market report shows the projected market size for the Facility Management Market at the end of the forecast period. The report also examines the historical and current market sizes.

On the basis of various indicators, the charts present the year-over-year growth (%) and compound annual growth rate (CAGR) for the given forecast period.

The report includes an overview of the market, its geographical scope, its segmentation, and the financial performance of key players.

The report examines the current state of the industry and the potential growth opportunities in North America, Asia Pacific, Europe, Latin America, and the Middle East, and Africa.

The research report includes various factors contributing to the market's growth.

The report analyzes the growth rate, market size, and market valuation for the forecast period.

This report covers aspects of the regional analysis market.

The report includes data about North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.

This report analyzes current and future market trends by region, providing information on product usage and consumption.

Reports on the market include the growth rate of every region, based on their countries over the forecast period.

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What factors are taken into consideration when assessing the key market players?

The report analyzes companies across the globe in detail.

The report provides an overview of major vendors in the market, including key players.

Reports include information about each manufacturer, such as profiles, revenue, product pricing, and other pertinent information about the manufactured products.

This report includes a comparison of market competitors and a discussion of the standpoints of the major players.

Market reports provide information regarding recent developments, mergers, and acquisitions involving key players.

What are the key findings of the report?

This report provides comprehensive information on factors expected to influence the market growth and market share in the future.

The report offers the current state of the market and future prospects for various geographical regions.

This report provides both qualitative and quantitative information about the competitive landscape of the market.

Combined with Porter's Five Forces analysis, it serves as SWOT analysis and competitive landscape analysis.

It provides an in-depth analysis of the market, highlighting its growth rates and opportunities for growth.

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