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Facilities Support Services Market Analysis 2024 -2033: Forecasted Market Size, Top Segments, And Largest Region
Facilities Support Services Market
The Business Research Company offers in-depth market insights through Facilities Support Services Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The facilities support services market size has grown rapidly in recent years. It will grow from $182.74 billion in 2023 to $201.63 billion in 2024 at a compound annual growth rate (CAGR) of 10.3%. The growth in the historic period can be attributed to focus on core competencies, outsourcing trend, cost efficiency, technological advancements.
The facilities support services market size is expected to see rapid growth in the next few years. It will grow to $297.16 billion in 2028 at a compound annual growth rate (CAGR) of 10.2%. The growth in the forecast period can be attributed to health and safety compliance, aging infrastructure, energy efficiency, economic recovery. Major trends in the forecast period include sustainability and green practices, smart building technology, remote monitoring and management, digital transformation, cybersecurity concerns.
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Market Segmentation:
The different types of facility support services are maintenance services, security & guard services, reception services, and other facilities support services. Routine maintenance, renovation, and replacement of current facilities, constructions, structures, or real property are referred to as maintenance services. The different modes include online, and offline and involve various deployment modes such as on-premise and cloud.
Major Driver - Multinational Companies Fueling The Growth Of Facilities Support Services Market
The rising number of multinational companies (MNCs) supported the growth of the facilities support services market going forward. A multinational corporation (MNC) is a large corporation that operates in its home country and produces or sells goods or services in various countries. Multinational companies often have a presence in multiple countries and regions. Managing facilities across various locations can be complex and challenging. Facilities support services providers offer a one-stop solution for MNCs to maintain and manage their facilities consistently across different geographies. This simplifies operations and ensures uniform standards of facility management. For instance, in October 2022, according to the Government Digital Service, a UK-based government body, the number of multinational corporations grew by 16,000 (1%), from 2021. Therefore, the rising number of multinational companies (MNCs) is driving the growth of the facilities support services market.
Competitive Landscape:
Major companies operating in the facilities support services market include Jones Lang LaSalle Inc., Sodexo, CBRE Group, ISS A/S, Cushman & Wakefield Inc., Atalian Servest Group Limited, Emcor Group, Alstom SA, ABM Industries Inc., Grupo ACS., ABM Industries Inc., Aramark Corporation, Compass Group Plc, Group 4 Securicor plc, International Service System World, Mitie Group plc, United Group Limited, Allied Universal, Anixter International Inc., ATALIAN Global Services Inc., BGIS Global Integrated Solutions Canada LP, Bilfinger SE, Colliers International Group Inc., DTZ Investment Management Limited, ENGIE SA, Eurest Services, Inc., FacilitySource LLC, GDI Integrated Facility Services Inc., Groupe CRIT SA, Johnson Controls International plc, KBR Inc., OCS Group Limited, SNC-Lavalin Group Inc., Veolia Environnement SA.
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Top Trend - Embracing Technology For Enhanced Recruitment And Candidate Management In Facilities Support Activities
Facilities support activities companies are increasingly using technology to effectively recruit and manage candidates. These technologies offer features such as passive activity tracking, integration with email platforms, and maintaining candidate databases. This reduces recruitment time, improves placement quality, and strengthens the relationship with clients. Recruitment analytics software also provides helpful business insights for staffing agencies. For example, in North America, 64% of firms use technologies such as an applicant tracking system (ATS) to track candidate activity and about 60% of firms use a customer relationship management (CRM) system for business development.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Facilities Support Services Market Characteristics
3. Facilities Support Services Market Trends And Strategies
4. Facilities Support Services Market - Macro Economic Scenario
5. Facilities Support Services Market Size And Growth
…..
27. Facilities Support Services Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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