Key Factor Supporting Facility Management Services Market Development in 2025: Smart City Initiatives Is A Catalyst For Facility Management Services Market Growth

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How Large Will the Facility Management Services Market Size By 2025?
In recent times, the size of the market for facility management services has expanded at a breakneck pace. It is projected to increase from $1744.37 billion in 2024 to $1981.61 billion in 2025, corresponding to a compound annual growth rate (CAGR) of 13.6%. Factors like the globalization and growth of businesses, shifts in consumer demands in commercial environments, increased outsourcing of facility services, emphasis on sustainability and energy conservation, along with the transformation of workplace dynamics have all contributed to the growth observed in the historic period.

How Big Is the Facility Management Services Market Size Expected to Grow by 2029?
Expectations for the facility management services market forecast a significant expansion in the coming years. By 2029, it is predicted to reach $3218.49 billion, showing a compound annual growth rate (CAGR) of 12.9%. This growth within the projected period can be credited to factors such as facility standardization and global expansion, outsourcing of functions that are not core to operations, data-backed decision making, transition to green and sustainable buildings, and the increasing occurrence of remote work and flexible spaces. Key trends anticipated during the forecast period encompass the utilization of predictive analysis, customization to cater to flexible workspaces, strengthening of security and safety precautions, demand for green practices, and transition towards remote facility management.

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Which Key Market Drivers Powering Facility Management Services Market Expansion and Growth?
The growth of the facility management services market is anticipated to be boosted by the rise in smart city initiatives. A variety of nations are introducing several government initiatives aimed at fostering the emergence of smart cities. Facility management services enhance the functionality of smart cities by delivering innovative Information and Communication Technologies (ICTs) to Urban Facility Management (UFM) along with presenting new optimization opportunities for existing services and developing novel services grounded in Internet of Things (IoT), Big Data, information exchange, and smart applications. For example, a report published by the Institute of the Americas, a US-based inter-American organization, in February 2024 projected that global expenditure on smart city initiatives would surpass $190 billion by the conclusion of 2023, with smart buildings anticipated to constitute a third of industrial IoT connections and smart utilities comprising 23% by 2025. Latin America, while representing less than 10% of global expenditure, is seeing a rise in its involvement in smart city projects. Thus, it can be inferred that the increasing embracement of the smart city concept is fueling the market for facility management services.

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Which Fast-Growing Trends Are Poised to Disrupt the Facility Management Services Market?
The rise of technological advancements has become a significant trend in the facility management services market. Firms are broadening their range of services by implementing these technologies into their business model. Big corporations often utilize cutting-edge technologies such as BIM (Building Information Modeling) to provide both hard and soft services, thus improving the quality of the services they deliver. For example, in March 2022, the UK's Compass Group, active in the facility management services sector, rolled out Saarthi-FX, a wholly digital, comprehensive solution. This tool reshapes how workplaces engage with facility management and aims to reform traditional workspaces with the help of artificial intelligence and predictive modeling to enhance office asset allocation and deliver a smarter, safer, and more efficient work environment. It also guarantees round-the-clock, smooth customer assistance, combines people, technology, and processes in a way that results in an outstanding employee experience, and converts traditional workspaces into technologically advanced spaces.

What Are the Emerging Segments in the Facility Management Services Market?
The facility management services market covered in this report is segmented -

1) By Component: Solutions, Services
2) By Service Type: Hard Services, Soft Services, Other Services
3) By Deployment Mode: Cloud, On-premises
4) By Organization Size: Small And Medium Enterprises (SMEs), Large Enterprise
5) By Industry Vertical: Healthcare, Government, Education, Military And Defense, Real Estate, Other Industry Verticals

Subsegments:
1) By Solutions: Integrated Workplace Management Systems (IWMS), Computer-Aided Facility Management (CAFM) Software, Building Management Systems (BMS)
2) By Services: Maintenance And Repair Services, Cleaning And Janitorial Services, Security Services, Space Management Services, Energy Management Services

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Who Are the Global Leaders in the Facility Management Services Market?
Major companies operating in the facility management services market are Atalian Servest AMK Limited, BVG India Limited, CBRE Group Inc., EMCOR Group Inc., International Service System A/S World, Knight Facilities Management Limited, Quess Corporation Limited, Sodexo Inc., Spotless Group Holdings Limited, QuickFMS, Nuvolo Technologies India Pvt. Ltd., InnoMaint Systems Pvt. Ltd., eFACiLiTY Systems Pvt. Ltd., FacilityONE Technologies LLC, Jones Lang LaSalle Incorporated, Cushman & Wakefield PLC, Compass Group PLC, Aramark Services Inc., Colliers International Group Inc., Apleona GmbH, Mitie Group PLC, G4S Secure Solutions (UK) Limited, ABM Industries Incorporated, Serco Group PLC, UGL Limited, Vanderlande Industries B.V., OCS Group, Vinci Facilities, Amey PLC, Johnson Controls International PLC, SIS Group Limited

Which are the Top Profitable Regional Markets for the Facility Management Services Industry?
North America was the largest region in the facility management services market in 2024. The regions covered in the facility management services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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