Press release
Hard Services Facility Management Market Projection By Key Players, Status, Growth, Revenue, SWOT Analysis Forecast Outlook 2028
The global hard services facility management market size was valued at USD 584.55 billion in 2018 and is projected to reach USD 815.50 billion by 2026 exhibiting a CAGR of 4.2% during the forecast period.
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The facility management industry is enhancing the benefits and facilities offered to the organizations and associations for a stipulated time period. Adoption of advanced hard facility services minimizes the daily roles and responsibilities, that require minimal staff recruitment and services towards organizing the work atmosphere across different sectors.
Globally, the hard services are offered by contracting with the building management, that includes everything, such as workforce and their related services. Governments of Asian and GCC countries are implying essential public private partnership (PPP) projects in sectors including real estate, healthcare, and others. That designs core competencies and regulations for the modern hard facility services.
List of the Key Companies in the Hard Services Facility Management Market Report are
Sodexo
CBRE Group, Inc.
ISS A/S
Compass Group
Aramark
Jones Lang LaSalle Incorporated
Cushman & Wakefield plc.
Tenon Group
Johnson Controls International plc.
AMEC Facilities
Competitive Landscape:
Launch of New "braille food menu" by Sodexo to Augment Growth
Sodexo, a French food services and facilities management company headquartered in Paris introduced a braille menu for patients at Queen's Hospital Romford. The new menu can be a vital factor in accelerating the market revenue for hard services facility management due to its presentation in each ward to ensure patients with visual impairments can understand the standard menu. Furthermore, Sodexo Patient Dining Manager at Queen's Hospital Romford, Karen Ford-Sneddon, said in a statement, "We truly care about our patients and so are always looking for ways to improve how we meet individual patient needs and help ensure a patient's stay is as comfortable as possible." She further added, "The introduction of a braille menu is vital to empower our visually impaired patients and help them to feel welcome at mealtimes. We worked closely with the Royal National Institute of Blind People (RNIB) to make sure these menus were perfect for our customers. In addition, the increasing strategic acquisitions and partnership among key players will spur lucrative business opportunities for the market in the forthcoming years. For instance, in August 2019, Aramark, an American food service, facilities, and uniform services provider announced the acquisition of Good Uncle, a food delivery service application that delivers fresh ready to eat meals in college campuses.
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Market Segmentation:
1. By Service Type
Outsourced
In-house
2. By Industry Vertical
Healthcare
Government
Education
Military & Defense
Real Estate
Others (IT & telecommunication, BFSI, etc.)
3. By Region
North America (U.S. and Canada)
Europe (U.K., Germany, France, Italy, and Rest of Europe)
Asia Pacific (Japan, China, India, and Rest of Asia Pacific)
Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)
Latin America (Brazil, Mexico, and Rest of Latin America)
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Regional Analysis:
Rising Emphasis on Modernization to Foster Growth in Asia Pacific
The market in Asia Pacific generated a revenue of USD 209.64 billion in 2018 and is predicted to grow rapidly during the forecast period owing to the surge in real estate sector. The growing modernization and urbanization will boost the hard services facility management market growth in the region. The rising population in China and India along with the emerging players will aid development in Asia Pacific. The increasing investment in smart city by government will bolster healthy growth in the region. North America and Europe is expected to witness rapid growth during the forecast period owing to the surge in construction industry in the region.
MARKET TRENDS
In late 2016, the International Facility Management Association (IFMA) initiated a Global Job Task Analysis (GJTA) program for determining the daily roles and responsibilities for modern hard services facility management. According to the designed regulations, facility managers from 62 countries have established 11 core competencies for modern hard facility services worldwide. Moreover, the Saudi Arabian government has announced to deploy the public-private partnerships (PPP) to escalate its transportation, education and healthcare infrastructures and increasing energy management requirements. For instance, Saudi Arabia's ministry of health proposed its first PPP project, where the ministry of health will seek proposals from international suppliers for projects which are valued more than USD 66.7 Million, over the next ten years.
Additionally, facilities management service providers are working continuously on adding energy management services in their portfolios. On the other hand, consumers are adopting such type of facility management, owing to rising energy costs and building's energy consumptions.
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Detailed Table of Content
Introduction
Definition, By Segment
Research Approach
Sources
Executive Summary
Market Dynamics
Drivers, Restraints and Opportunities
Emerging Trends
Key Insights
Macro and Micro Economic Indicators
Key Technological Developments
Consolidated SWOT Analysis of Key Players
Global Hard Services Facility Management Market Analysis, Insights and Forecast, 2015-2026
Key Findings / Summary
Market Sizing Estimations and Forecasts - By Service Type (Value)
Outsource
In-house
Market Sizing Estimations and Forecasts - By Industry Vertical (Value)
Healthcare
Government
Education
Military & Defense
Real Estate
Others (IT & telecommunication, BFSI, etc.)
Market Analysis, Insights and Forecast - By Region (Value)
North America
Europe
Asia Pacific
Middle East & Africa
Latin America
TOC Continued..!!!
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