Facility Management Market to Reach US$ 132.1 Billion by 2028

IMARC Group's latest research report, titled "Facility Management Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," The global facility management market size reached US$ 62.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 132.1 Billion by 2028, exhibiting a growth rate (CAGR) of 13.52% during 2023-2028.

Facility Management Industry Outlook:

Facility management (FM) is a service that comprises several disciplines for ensuring the functionality of the built environment by incorporating individuals, places, processes, and technology. It involves the deployment of an outsourced service vendor for managing and maintaining the building facility and performing various non-core business activities for the organization. It involves distinct aspects of communications management, operations and maintenance, business continuity and emergency management, environmental responsibility, and sustainability. This solution aims to ensure maximum productivity by streamlining and standardizing routine tasks. As a result, it finds extensive applications across the residential, banking, finance service and insurance (BFSI), healthcare, retail, and education sectors.

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Global Facility Management Industry Growth:

The market is primarily driven by the growing preference for automated solutions across developing countries. This can be attributed to rapid digitization and the penetration of high-speed internet connectivity. Moreover, rapid growth in the real estate sector and the rising demand for residential and commercial constructions are fueling the market. Furthermore, the implementation of favorable government policies promoting infrastructural automation, and the increasing adoption of the software-as-a-service (SaaS) deployment model, are providing a thrust to the demand.

Besides, leading providers are introducing new facility assets and services that enhance the customer's experience, business administration, and occupation physiology and enable the core business, this is creating a positive market outlook. Other factors, including the increasing adoption of the Internet of Things (IoT) and the emergence of integrated facility management (IFM), are also influencing the market.

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Key Market Segmentation:

Top Facility Management Companies Worldwide:

• IBM
• Oracle
• Trimble
• CA Technologies
• SAP
• Archibus
• Accruent
• Maintenance Connection
• MCS Solutions
• Planon
• Ioffice
• Jadetrack
• Metricstream
• Emaint
• Facilities Management Express etc.

Breakup by Solution:

• Integrated Workplace Management System
• Facility Operations and Security Management
• Building Information Modeling
• Facility Property Management
• Facility Environment Management

Breakup by Service:

• Deployment and Integration
• Auditing and Quality Assessment
• Support and Maintenance
• Consulting
• Service Level Agreement Management

Breakup by Deployment Type:

• On-Premises
• Cloud

Breakup by Organization Size:

• Small and Medium Size Enterprises
• Large Enterprises

Breakup by Vertical:

• Banking, Financial Services, and Insurance
• IT and Telecom
• Government and Public Administration
• Healthcare
• Education
• Retail
• Energy and Utilities
• Others

Breakup by Region:

• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

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TOC for the Facility Management Market Research Report:

• Preface
• Scope and Methodology
• Executive Summary
• Introduction
• Global Facility Management Market
• SWOT Analysis
• Value Chain Analysis
• Price Analysis
• Competitive Landscape

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.

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