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Facility Management Market

Facility Management Market

Facility Management Market Analysis By Component Type (Solution & Services) By Deployment Type (On-Premises & Cloud) Organization Size (Small and Medium-sized Enterprises, Large Enterprises) By Vertical & By Region – Global Market Insights 2022-2032

Facility Management Market
FACT7227MR
  • Apr-2022
  • List of Tables : 60
  • List of Figures : 102
  • 170 Pages
  • Technology

Facility Management Market Snapshot (2022-2032)

The global facility market was valued at US$ 42.2 Billion in 2021, and is projected to register a Y-o-Y increase of 2.0% in 2022 to be valued at US$ 47.5 Billion. During the 2022-2032 period of assessment, demand is expected to rise at a 12.5% value CAGR, likely to reach US$ 153.7 Billion by the end of the said forecast period.

Report Attributes

Details

Anticipated Base Year Value (2021)

US$ 42.2 Billion

Expected Market Value (2022)

US$ 47.5Billion

Projected Forecast Value (2032)

US$ 153 Billion

Global Growth Rate (2022-2032)

12.5% CAGR

Growth Rate of the U.S (2022-2032)

12.4% CAGR

Expected Market Value of China (2032)

US$ 8.8 Billion

Growth Rate of U.K (2022-2032)

12% CAGR

Key facility management market Players

  • IBM
  • Oracle
  • SAP
  • Trimble
  • Fortive
  • Infor
  • MRI Software
  • Planon
  • Service Works Global
  • Facilities Management Express (FMX)

Overall, the facility management market landscape is poised to yield an absolute dollar opportunity worth US$ 153.7 Billion until 2032. Construction and real estate will continue to flourish with documented CAGR 14.1%of from 2015-2021.Moreover, US will remain at the forefront, generating an opportunity worth US$ 53.4Billion during the forecast period.

Facility Management Market Revenue Analysis 2015-2021 vs. Future Outlook 2022-2032

Rising penetration of big data technologies, cloud computing and other advanced technologies have prompted Facility management to transform services into a whole new level. As per market research and competitive intelligence provider Fact.MR, the market for facility management witnessed a staggering 14.4% CAGR from 2015 to 2021. As enterprises strive to attain a competitive edge, Facility management is a necessity.

Consistent upgradation of facility management to provide a seamless user experience is the need of the hour. By incorporating avant-garde breakthroughs, service providers are not only able to reduce operational costs, but also enhance their returns on investment. Furthermore, changing compliance and governance requirements are also widening the scope for application transformation services.

In the future, as more businesses rely on digital transformation, they are continuously innovating their approaches, ushering in efficiency, enhancing quality and improve client experience. Whether it is to migrate, transform or build, deploying the right application strategy can work miracles. From 2022 to 2032, the facility management market is forecast to grow 2.0x.

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Prominent Facility Management Market Growth Drivers

Flourishing Real Estate Sector to Boost Facility Management Deployment

Increase in investment in real estate sector accelerate the development of smart building. The development of these smart building increase the market demand for facility market. Also they increase the maintenance process as buildings require cleaning, maintenance services there will be increase in demand of facility management market services.

Post COVID-19 new option are available in facility management market as there is need for socially distance workplaces and remote workplace. Facility management is ensuring a safe working environment. Daily cleaning techniques, sanitization these requirements must be fulfilled by facility management. Building sanitization requires experimenting with innovative goods and techniques that solve COVID-19's unique issues for many facility mangers.

Low-cost delivery provided by players encouraging the growth

Low-cost delivery provided by unorganized players is stimulating the growth of the facilities management market. This factor will have high impact on short and medium term of forecast period. While, expenditure across the U.S and China- two of the world’s major superpowers- continued to incline.

Countries such as Japan reported an 11.6% increase in 2022 to reach nearly US$ 7.8 Billion, while South Korea emerged as the fifth facility management spender. In addition to Japan, UK ($7.5 billion), US ($53.4billion) and China ($8.8billion) were the largest facility management spenders in the region.

Attributed to these promising trends, it is no surprise that demand for advanced grade Facility management systems is projected to rise significantly in forthcoming years. Companies are constantly trying to reduce the cost of the labor and growing presence of unorganized player the facility management market.

Key Challenges Affecting Facility Management Market Growth

Cost control comes out to be the major challenge in Facility management market

cost control turn out to be the major pillar of facility management market. The smart way to simplify the facility management is strong relationship with service providers. More mangers can be put in same project to manage the needs of the workplace and its assets.

To serve the purpose companies taking data from different vendor who provide the same services, it will reduce the cost. To maintain an increase profit cost control is must.   

Maintaining accurate record is also the big challenge

One more aspect of facility management market is to ensure that to maintain the correct data when u need it. Not maintain the correct data may lead to expensive and time consuming problems.

Facility management market need to create system that track the services and maintained work. This will help to understand when its time to make replacement. To increase productivity and efficiency facility market should maintain constant flow to communication between teams.

An Adaptive Approach to Modern-day Research Needs

Country-wise Analysis

How Opportunistic will the Market for Facility management be across the U.S?

US occupies the highest market share

According to Fact. MR’s study, the U.S is poised to yield an absolute dollar opportunity worth US$ 53.4 Billion, expanding at a 12% value CAGR from 2022 to 2032. By the end of the said forecast period, a market valuation of US$ 36.7 Billion has been projected for the industry across the country.

Latest technological trends in US region have assisted the advancement in facility management solution. Investment in IT and telecom, BSFI, real estate and also healthcare application the US market will boom in coming forecasted period. The U.S has always been at the forefront of advancing facility management since the 21st century. Furthermore, the U.S facility management is increasingly deploying new technologies to hone its warfighting skills.

Will China emerge as an Attractive Facility Management System Market?

Increase in construction activity Drives to Widen Growth Scope in the Future

The growth of the market is attributed to increase in construction activities across commercial and industrial sector in the country. china facility market is also influenced by growing focus on accreditation by adopting LEED certification. Also the infrastructure development is positively influencing the market growth.

In advancement to this the increase in government investment in real estate sector would steer growth in China facility management market during forecast year. North and eastern region of china generate highest demand for facility management market. Chinese government has invested in these sector to generate the more revenue.

As per Fact. MR’s estimates, the Chinese market is poised to register a CAGR of 12.2% from 2022 to 2032, reaching US$ 8.8 Billion and yielding a dollar opportunity worth US$ 6.0 Billion.

Country-wise Forecast CAGRs for the Facility Management Market

U.S

12.4%

U.K

12.0%

China

12.2%

Japan

11.6%

South Korea

11.3%

Category-wise Insights

Which Category is expected to be the Top Facility Management Market System End User?

Construction and Real Estate to remain prominent End-Users

According to Fact.MR, facility management market for construction and real estate are expected to register highest growth, expanding at a CAGR of 12.4% from 2022-2032. More spending on the infrastructure can be one of the major driver to boost the growth of the Facility management market. In advancement to this the optimization process and energy efficiency improvement are main factors driving the growth of the market.

Countries are striving to improve the market growth by adopting new technological advancement, increasing investment, superior quality services in construction and real estate.

Why is Facility Management Popular in the IT & Telecom Industry?

IT and Telecom to hold largest share in industry

The IT & telecom segment is expected to hold a larger share in the market, having accounted for US$ 159 Billion in 2021, and is poised to increase at a considerable CAGR of 5.7% over the next ten years. The growth of this sector is attributed to increasing need of managing all services at single point. With the help of facility management IT and Telecom industry can manage its various task with improved efficiency.

Furthermore, increasing investments by major established players in research & development activities are also projected to contribute substantially to market expansion.

Facility Management Market forecast analysis by Fact.MR

Competitive Landscape

The facility management market is fiercely competitive in nature. The key strategies adopted by players include investing in new technology for the development of software. In addition to this, players resort to inorganic growth strategy with acquisition and merger. Also the new products and strategic partnership play key role in landscape.

Recent Developments in Facility Management Market

  • Oracle teamed with Propre Japan Inc. in May 2020. Oracle Japan will assist Propre Japan Inc. in developing Propre's real estate big data platform, which will be available in 17 countries across the world. Oracle's client base would grow as a result of this agreement.
  • Koch Industries, Inc. announced in April 2020 that it has finalised the purchase of the remaining share of Infor from Golden Gate Capital. Koch was a prominent client, integrating Infor solutions throughout its companies in areas including enterprise resource planning, human resources, supply chain, asset management, and finance, in addition to being an Infor investment since 2017.
  • BVG India in 2022, offer several services including integrated services and facility management services uses combination of man n machine to provide best service in the sector.

Key Segments Covered in the Facility Management Market Study

  • Facility Management by component Type

    • Solution
      • Integrated Workplace Management System
      • Building Information Modeling
      • Facility Operations and Security Management
      • Facility Environment Management
      • Facility Property Management
    • Services
      • Professional Services
      • Managed Services
  • Facility Management by Deployment Mode

    • Cloud
    • On-premises
  • Facility Management by Organization Size

    • Small and Medium-sized Enterprises
    • Large Enterprises
  • Facility Management by Vertical

    • BFSI,
    • IT and Telecom
    • Government and Public Administration
    •  Healthcare, Education
    • Retail
    • Energy and Utilities
    • Manufacturing, Construction and Real Estate
    • Other Verticals [Media and Entertainment, Transportation and Logistics, and Hospitality]
  • Facility Management by Region

    • North America
    • Europe
    • APAC
    • MEA
    • Latin America

- FAQs -

As of 2021, Fact.MR estimated the facility management market to have reached US$ 42.2 Billion.
By 2022, Fact.MR expected demand for facility management market to reach US$ 47.5 Billion.
From 2015-2021, the facility management market grew at a 14.4% value CAGR.
From 2022-2032, facility management market demand is likely to surge at a 12.5% CAGR.
By 2032, the market for facility management market is likely to be valued at US$ 153.7 Billion.
By 2032, Fact.MR expects the U.S market for facility management to reach US$ 53.4Billion.
China is expected to register a 12.2% CAGR with regard to the facility management market.
U.K is expected to document a CAGR worth 12% in the facility management market.
Construction and real estate will remain most prominent after, expanding at CAGR of 12.4% until 2032.

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