Facility Management Market to Witness Robust Growth Expansion by 2027
Posted on Sep 28 2022 2:01 PM
"Facility Management Market Size, Share & COVID-19 Impact Analysis, By Service Type (Hard Services, Soft Services, and Others Services), By Industry (Healthcare, Government, Education, Military & Defense, Real Estate and Others) and Regional Forecast, 2021-2028 "
According to the latest report, titled “Facility Management Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast’ the India facility management market is expected to exhibit a Huge CAGR during the Forecast Period. Facility Management Market is projected to grow from USD 1,249.45 billion in 2021 to USD 1,759.25 billion in 2028 at a CAGR of 5.0% during the 2021-2028 period.
This COVID-19 analysis of the report includes COVID-19 IMPACT on the production and, demand, supply chain. This report provides a detailed historical analysis of the global Facility Management Market by region/country and subsectors. The report covers the revenue, sales volume, price, historical growth, and future perspectives in the Facility Management Market.
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A few top players in the industry are-
- Sodexo (France)
- CBRE Group, Inc. (United States)
- ISS A/S (Denmark)
- Compass Group (United Kingdom)
- Aramark (United States)
- Jones Lang LaSalle Incorporated (United States)
- Cushman & Wakefield plc. (United States)
- Tenon Group (India)
- Johnson Controls International plc (Ireland)
- Dussmann Group (Germany)
The report gives a precise view of the future perspective and present market demands. The report also includes facts and statistics, tables & figures referred to in this report for strategic planning which leads to the success of the organizations. In this market report, the market share that various manufacturers hold in the global Facility Management Market and the market concentration is described in the report.
On the basis of Geography, the Global Facility Management Market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World (RoW). North America is expected to hold a considerable share in the global Facility Management Market. Due to increasing investment for research and development process and adoption of solutions in the region whereas Asia-Pacific is expected to grow at a faster pace during the forecasted period.
The growing number of Facility Management Market players across regions is expected to drive market growth further. Moreover, increasing investments by prominent vendors in product capabilities and business expansion is expected to fuel the market during the study period. Many market players are finding lucrative opportunities in emerging economies like China and India, where the large populations are coupled with new innovations in numerous industries.
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Real Estate Segment Held 29.6% Share in 2019: Fortune Business Insights™
Based on the service type, the market for facility management is segregated into hard services, soft services, and others. By industry, it is fragmented into healthcare, government, education, military & defense, real estate, and others (IT & Telecommunication and BFSI). Amongst these, the real estate segment generated 29.6% in terms of the facility management market share in 2019. This growth is attributable to the expansion of the construction industry worldwide.
The report contains an accurate study of several regions and countries. It was developed by our analysts after evaluating various factors that regulate regional growth, such as political, technological, social, economic, and environmental status of that particular place. The competitive landscape section was developed to help our clients better understand the acquisitions and other strategies that key players are focusing on to strengthen their positions in the facility management industry.
An overview of the Facility Management Market’s regional outlook:
The market is divided into five regions: North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa (MEA). North America is further subdivided into countries such as the United States and Canada. The Europe region is further divided into the United Kingdom, France, Germany, Italy, Spain, Russia, and the Rest of Europe. China, Japan, South Korea, India, Australia, South East Asia, and the rest of Asia Pacific are subdivided into Asia Pacific. The Latin America region is separated into Brazil, Mexico, and the rest of Latin America, whereas the MEA region is divided into GCC, Turkey, South Africa, and the rest of MEA.
Increasing Construction of Railways, Airports, and Ports to Augment Growth
Governments of various countries are nowadays joining hands with private contractors to make their infrastructure green and clean. They are investing in the construction of airports, ports, and railways. The government of Saudi Arabia, for instance, rose around USD 36 billion for over eleven years for the betterment of transportation infrastructure. These factors are anticipated to bolster the facility management market growth in the upcoming years. However, the lack of funding and financial resources in emerging nations may hinder the demand for facility management services and create major challenges for small and medium-sized companies.
Presence of Organized and Unorganized Players to Boost Growth in Asia Pacific
Geographically, Asia Pacific held USD 476.38 billion in terms of revenue in 2019. It is expected to remain at the forefront because of the presence of numerous organized and unorganized companies in China and India. North America, on the other hand, is set to showcase gradual growth backed by the early adoption of innovative technologies, such as robots, artificial intelligence, and IoT. But, lockdown measures amid the COVID-19 pandemic have impacted growth in Canada and the U.S. negatively.
In Europe, the rising implementation of precautionary measures by regulatory bodies would lead to moderate growth. Lastly, in Latin America and the Middle East and Africa, surging real estate sector and investments in tourism by governments would propel the demand for facility management services.
- What is the driving factor for the growth of the Facility Management Market?
- How will the COVID-19 pandemic impact the demand and consumption of the Facility Management Market?
- What is the major application area of the Facility Management Market?
- Who are the Facility Management Market manufacturers across the globe?
- Which geographical location is dominant in the Facility Management Market?
- Which are the top industry players in the Facility Management Market?
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