Integrated Facility Management (IFM) Market, Competitive Landscape Growth, Size and Share Forecast to 2031

Demand for integrated facility management (IFM) is expected to close in on US$ 730 Bn in 2021. As per Persistence Market Research analysis, the market will register steady growth at 4.2% CAGR from 2022 to 2031.

According to the International Facility Management Association (IFMA), facility managers, must, in their capacity, "ensure functionality, comfort, safety, and efficiency of the built environment by integrating people, place, process, and technology."

Advanced organizations are getting advisory and transaction services, facilities management, and project services under one supplier, and while offering a single point of control. For large corporations, integrated facility management is a proven way for the streamlining of operations and efficient management of tasks.

Companies such as Wipro are providing IFM solutions combining the organization's functions and facility services into a single platform. This helps in streamlining the communication between business leaders and facility managers, further aiding in increasing the efficiency of buildings and simplifying everyday operations.

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Companies are also entering into partnerships with facility managers and operators in order to identify new opportunities, reimagine their businesses, create a digital roadmap, and integrate people, process, and technology.

In evaluation with managing every independent stakeholder and every task numerous times, integrated facility management offers increased visibility leading to quicker responses to requests, effective management of teams, reduction of operation costs, and less downtime for employees. Hence, there has been a rise in demand for IFM solutions and services across different industry verticals.

Company Profiles:

CBRE
Compass Group
ISS
JLL
Sodexo
Broadcom
IBM Corporation
Oracle Corporation
Accruent
MRI Software LLC

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Key Takeaways from Market Study

North America was the leading market in 2020 in terms of value for IFM. Over the coming years, South Asia and Pacific is expected to be a key market for sustainable revenue.

Large enterprises are expected to offer higher incremental opportunity during the forecast period.

There has been a rise in demand for IFM owing to increasing popularity of smart buildings and cloud-based solutions.

With growing popularity of IFM services, countries in Asia Pacific such as India, China, and Japan are expected to witness potential growth opportunities.

The market in the U.S. is projected to expand at a CAGR of 4.2% through 2031, and is expected to continue its dominance over the coming years.

The market in China and India is expected to progress at impressive CAGR of 4.8% and 5.3%, respectively, through 2031.

"Growing popularity of smart buildings is anticipated to drive demand for IFM in mature markets," says a Persistence Market Research analyst.

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