Hospitality Sector Boom Fuels Growth In Hard Services Facility Management Market: Key Factor Driving The Growth In The Hard Services Facility Management Market

The Hard Services Facility Management Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].

What Is the Expected Hard Services Facility Management Market Size During the Forecast Period?
The hard services facility management market has seen strong growth in recent years. It will grow from $644.31 billion in 2024 to $684.12 billion in 2025 at a CAGR of 6.2%. Growth in recent years has been driven by the expansion of multinational corporations, a focus on workplace safety, aging infrastructure, increasing demand for customized and responsive services, and regulatory changes.

The hard services facility management market is set for solid growth, expected to reach $857.51 billion by 2029 at a CAGR of 5.8%. Key growth drivers include increasing demand for green buildings, smart building technologies, cybersecurity, and rising urbanization. Key trends in this sector include a shift towards data-driven decision-making, a rise in the use of outsourced facility management services, adoption of predictive maintenance, and the expansion of agile work environments.

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What Are the High-Growth Segments in the Hard Services Facility Management Market?
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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What Key Drivers Are Expected to Influence Future Hard Services Facility Management Market Growth?
As travel demand rises, hotels and hospitality facilities require robust infrastructure services. Hard services in facility management-covering plumbing, HVAC, and electrical systems-are crucial to maintaining guest comfort. The American Hotel and Lodging Association (January 2023) noted U.S. hotel occupancy rose to 62.7% in 2022, up 9% from 2021. This industry growth underpins the need for facility management services.

Which Companies Hold the Largest Share Across Different Hard Services Facility Management Market Segments?
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 Trends Are Driving Growth in The Hard Services Facility Management Market?
Key players in the hard services facility management sector are prioritising the development of cutting-edge services like digital platforms. These advancements are designed to boost operational capabilities, enhance predictive maintenance, and offer real-time monitoring and statistics. A digital platform is a streamlined software solution for managing, monitoring, and maintaining the physical infrastructure of a building. For example, in September 2023, Johnson Controls International PLC, a building technology company based in Ireland, introduced a fresh OpenBlue service titled "Ensuring Security Device Performance". The service is engineered to support customers in boosting the safety of their buildings, handling risk effectively, and optimising the returns from the investment in security technology. By blending Johnson Controls' OpenBlue collection of connected solutions with the capacity to simultaneously manage and monitor security devices from multiple suppliers, it offers remote support services from technical experts, critical insights, and an integrated, simplified system for cybersecurity. The service's ultimate goal is to proactively maintain and update the security infrastructure of customers, ensuring it stays operationally sound, compliant, and immune to cyber-attacks.

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What Are the Emerging Geographies for The Hard Services Facility Management Market Growth?
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.

Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Hard Services Facility Management Market?
2. What is the CAGR expected in the Hard Services Facility Management Market?
3. What Are the Key Innovations Transforming the Hard Services Facility Management Industry?
4. Which Region Is Leading the Hard Services Facility Management Market?

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