Facility Management Market Size To See Huge Growth By 2031 | IBM Corporation, Oracle Corporation, SAP SE, Ioffice Corporation

Report Ocean offers a thorough analysis of the Facility Management Market , including assessments of business solutions, studies and advancements, applications, advantages, benefits, and breadth. Additionally, included in this study are the market's significant accomplishments, studies and upgrades, new product introductions, a local boom, fierce competition against the norm, and local scale. The business report analysis and insights contain the boom in producer guidance sales, percentage, supply, opportunity, problems, and improvement restraints.

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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Governmental organizations are boosting their maintenance budgets for system infrastructure while simultaneously funding initiatives for project development, modernization, and enhancement. As a result of the investments' success, ICT vendors now annually set aside funding for the growth of the online market. Global ICT exports are anticipated to increase 3.9% on average year from US$ 784.3 billion in 2021 to US$ 955.19 billion in 2030. Global supply has increased by 9.5% yearly since 2009. In terms of global ICT exports in 2021, Ireland came in first place with US$ 169. 32 billion. The rankings placed China at number 4, the United States at number 2, and India at number 3. Since 2009, Brunei has increased by 228.2% year over year, while Sierra Leone has decreased by 61.7% year over year.

By 2026, European ICT Revenue is likely to increase by 1.5% annually, from US$ 1,802,413 Million in 2021 to US$ 1,933,429 Million. The European market has increased by 3.1% annually since 2016. In terms of ICT Revenue in Europe in 2021, Germany came in first place with US$ 339,074 million. Positions 2, 3, and 4 in this ranking were held by the United Kingdom, France, and Ireland, respectively. Since 2016, Malta has increased by 16.5% year over year, while Italy has decreased by 0.2%.

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. 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.

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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.

The key players profiled in the report are as follows:

IBM Corporation
Oracle Corporation
SAP SE
Ioffice Corporation
Archibus, Inc.
FM System, Inc.
CA Technologies, Inc.
Accruent, LLC
Planon Corporation
Trimble, Inc.

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

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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

By Geography

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

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