Major Market Shift in Hard Services Facility Management Industry: Advancements In Digital Platforms Transforming Hard Services Facility Management

What Is the Forecasted Market Size and Growth Rate for the Hard Services Facility Management Market?
The market size of hard services facility management has significantly increased in the past few years. From $644.31 billion in 2024, it is expected to amplify to $684.12 billion in 2025, with a compound annual growth rate (CAGR) of 6.2%. This notable growth in the historical period is a result of several factors, including the growth of multinational corporations, emphasis on workplace safety, the aging of infrastructures, the rising demand for tailored and prompt service, as well as changes in regulations.

The market size of hard services facility management is projected to experience robust growth in the upcoming years, reaching a whopping $857.51 billion by 2029 at a compounded annual growth rate (CAGR) of 5.8%. This growth in the forecasted period can be credited to a rising interest in environmentally friendly buildings, trends of remote work, advancements in smart building technology, increased attention to cybersecurity, urbanization and infrastructure expansion. Key trends projected for the forecast period include a move towards decisions backed by data, a heightened dependence on outsourced facility management services, flexible work settings, improved maintenance strategies, and the introduction of predictive maintenance.

What Factors Are Fueling Growth in the Hard Services Facility Management Market?
The swift expansion of the hospitality industry is set to boost the hard services facility management market in the future. The hospitality industry is the part of the economy that includes businesses and services involved with accommodation, dining and beverages, entertainment, travel, and tourism. The increase in the hospitality industry is due to factors such as escalating globalization, rising disposable income, and a growing demand for travel and leisure activities. Hard services facility management in the hospitality sector guarantees efficient functioning and care of crucial infrastructure like plumbing, HVAC systems and electrical systems, which in turn improves the comfort and safety of guests. For example, a report published by the American Hotel and Lodging Association in January 2023, stated that there was an 11.1% improvement in U.S. hotel demand from 2021 to 2022. In 2022, U.S. hotels saw notable growth in occupancy, touching 62.7%, showing a 9% rise compared to the statistics recorded in 2021. As a result, the swift expansion of the hospitality industry is impacting the growth of the hard services facility management market positively.

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Which Businesses Are at the Forefront of Hard Services Facility Management Market Development?
Major companies operating in the hard services facility management market are Siemens AG, Vinci SA, Bouygues SA, Veolia Environnement, Compass Group, CBRE Group Inc., Johnson Controls International plc., Sodexo Group, Jones Lang LaSalle Incorporated, G4S plc, Aramark, Jacobs Solutions Inc., Skanska Group, AECOM, EMCOR Group Inc., Cushman & Wakefield, Balfour Beatty plc, ABM Industries Incorporated, KBR Inc., Serco Group plc, Mitie Group plc, Capita plc, Carillion Alawi LLC, ENGIE Services, ISS Facility Services

What Are the Latest Innovations in the Hard Services Facility Management Market?
Leading firms in the hard services facility management market are strategizing to create innovative services such as digital platforms. The objective is to boost operational efficiency, enhance predictive maintenance, and provide real-time observation and analysis. A digital platform is an amalgamation of software solutions assisting in the organization, surveillance, and upkeep of a building's tangible assets. To illustrate, Johnson Controls International PLC, a building technology firm from Ireland, introduced a fresh OpenBlue service named Ensuring Security Device Performance in September 2023. The service intends to support customers in augmenting building safety, managing risks, and amplifying the worth of investments in security technology. This service fuses Johnson Controls' OpenBlue range of connected solutions with the capacity to supervise and administer security devices from various vendors. It also offers remote support and insights from proficient engineers coupled with simplified, integrated zero-trust cybersecurity defense. The ultimate goal of the service is to actively sustain and update the security systems of customers, securing their operation, compliance, and protection against cyber threats.

How Is the Hard Services Facility Management Market Segmented?
The hard services facility management market covered in this report is segmented -

1) By Type: Mechanical, Electrical, Plumbing (MEP) Heating, Ventilation, and Air Conditioning (HVAC) Maintenance Services, Enterprise Asset Management
2) By Service Type: Outsourced, In-house
3) By Industry Vertical: Healthcare, Government, Education, Military And Defense, Real Estate, Other Industry Verticals

Subsegments:
1) By Mechanical, Electrical, Plumbing (MEP) Maintenance Services: Mechanical Systems Maintenance, HVAC Systems, Pumping Systems, Fire Protection Systems, Electrical Systems Maintenance, Power Distribution, Lighting Systems, Generators And Backup Systems, Plumbing Systems Maintenance, Water Supply Systems, Drainage Systems, Gas Systems
2) By Heating, Ventilation, And Air Conditioning (HVAC) Maintenance Services: Preventive Maintenance For HVAC, Emergency HVAC Repairs, HVAC System Installation And Commissioning, HVAC System Upgrades And Replacements, Air Filtration And Air Quality Control Services
3) By Enterprise Asset Management (EAM): Asset Lifecycle Management, Condition-Based Monitoring, Predictive Maintenance, Inventory And Spare Parts Management, Work Order Management, Compliance And Regulatory Reporting

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Where Is the Hard Services Facility Management Market Growth Most Prominent?
Asia-Pacific was the largest region in the hard services facility management market in 2024. The regions covered in the hard services facility management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

What Is Covered In The Hard Services Facility Management Global Market Report?

- Market Size Analysis: Analyze the Hard Services Facility Management Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Hard Services Facility Management Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Hard Services Facility Management Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Hard Services Facility Management Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.

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