2025 Hard Services Facility Management Industry Trends Report: Long-Term Outlook Through 2034

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How Large Will the Hard Services Facility Management Market Size By 2025?
The market size of hard services facility management has seen a robust growth in the past few years. The market which holds a value of $644.31 billion in 2024, is predicted to surge to $682.53 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 5.9%. The escalating growth during the historic period is suspected to be due to the growth of multinational enterprises, heightened attention towards workplace safety, aging infrastructural systems, rising need for tailored and prompt service, along with modifications in regulations.

How Big Is the Hard Services Facility Management Market Size Expected to Grow by 2029?
The size of the hard services facility management market is projected to experience robust expansion in the upcoming years, swelling to $847.61 billion in 2029 with a compound annual growth rate (CAGR) of 5.6%. The growth during the anticipated period is due to an increased attention towards green constructions, work from home trends, intelligent building technologies, amplified consideration on cybersecurity, urban growth, and infrastructure enhancement. Key trends for the anticipated duration include a shift towards utilizing data for decision-making processes, a rise in outsourcing facility management services, adaptable workspaces, improved maintenance protocols, and the integration of predictive maintenance.

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Which Key Market Drivers Powering Hard Services Facility Management Market Expansion and Growth?
The swift expansion of the hospitality industry is set to boost the progress of the hard services facility management market. This industry refers to the economy's division that includes services and businesses associated with accommodation, food and drinks, entertainment, travel, and tourism. The hospitality industry's expansion is due to escalating globalization, increasing disposable income, and surging demand for travel and leisure scenarios. Hard services facility management aids the smooth running and upkeep of essential infrastructures like plumbing, HVAC systems, and electrical systems within this sector, thereby improving guest safety and comfort. For example, the American Hotel and Lodging Association, which represents the hotel industry in the U.S, published a report in January 2023, which stated that there was an 11.1% improvement in U.S hotel demands from 2021 to 2022. In 2022, U.S hotels saw significant occupancy hikes, attaining a 62.7% mark, which is a 9% increase compared to 2021 figures. Hence, the speedy growth of the hospitality industry is facilitating the development of the hard services facility management market.

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Which Fast-Growing Trends Are Poised to Disrupt the Hard Services Facility Management Market?
Key market players in the hard services facility management sector are prioritizing the generation of innovative services like digital platforms to bolster operational efficiency, advance predictive maintenance, and offer instant monitoring and analytics. A digital platform pertains to combined software solutions allowing effective management, surveillance, and preservation of a building's physical assets. For example, Johnson Controls International PLC, a leading building technology firm based in Ireland, launched its novel OpenBlue service named Ensuring Security Device Performance in September 2023. The service is intended to aid customers in improving building safety, risk management, and enhance the ROI on security technology investments. Combining the OpenBlue suite of connected solutions with Johnson Controls, the service can monitor and manage security devices across different vendors, deliver remote support services, and insights from proficient engineers, alongside simplified, integrated zero-trust cybersecurity protection. The service has a proactive approach to maintaining, updating customer's security systems to ensure they are operational, compliant, and shielded from cyber threats.

What Are the Emerging Segments in the Hard Services Facility Management Market?
The hard services facility managementmarket 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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Who Are the Global Leaders in the Hard Services Facility Management Market?
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

Which are the Top Profitable Regional Markets for the Hard Services Facility Management Industry?
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.

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