LONDON, Dec. 18, 2016 /PRNewswire/ --
"Changing work culture in organizations is one of the drivers of the facility management market"
The facility management market size is estimated to grow from USD 28.90 billion in 2016 to USD 56.67 billion by 2021, at a Compound Annual Growth Rate (CAGR) of 14.42%. This growth is due to the changing work culture in organizations which involves technology efficient workforce leading to increased technology deployment.
"The sustainability management solution market accounts for the largest market size during the forecast period"
The sustainability management market by solution is estimated to have the largest market size during the forecast period. The sustainability management solution is in demand and is expected to grow and obtain a higher market share in the future, as it helps in improving environmental performance by governing, planning, and tracking sustainability projects across a company's portfolio.
"The integration and deployment market is expected to gain traction during the forecast period"
The facility management service market includes consulting, integration and deployment, and managed services. The managed service market is seen having great opportunities in the coming years. The integration and deployment service market holds the largest market size among services. Integration and deployment services facilitate rapid deployment of comprehensive facility management solutions for various industry verticals.
"Asia-Pacific is projected to grow at the highest rate during the forecast period"
North America has captured the largest market share in 2016 and the trend is expected to continue in the coming years. This region is an early adopter of this technology and has witnessed rapid adoption due to the availability of comprehensive solutions. On the other hand, The Asia-Pacific (APAC) facility management market is expected to witness exponential growth and is projected to be the fastest growing region for the global facility management market. This is mainly attributed to the growing requirement of facility management solutions that can be easily integrated and deployed according to user requirements. In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted with key people.
The break-up of profiles of primary participants is given below:
- By Company Type: Tier 1: 25%, Tier 2: 50%, and Tier 3: 25%
- By Designation: C level: 25%, Director level: 50%, and Others: 25%
- By Region: North America: 25%, Europe: 25%, APAC: 50%,
The various key vendors profiled in the report are as follows:
1. IBM Corporation (U.S.)
2. Oracle Corporation (U.S.)
3. SAP SE (Germany)
4. Archibus, Inc. (U.S.)
5. Trimble Navigation Ltd. (U.S.)
6. CA Technologies (U.S.)
7. Accruent, LLC (U.S.)
8. Planon Corporation (Netherlands)
9. FM System, Inc. (U.S.)
10. iOffice Corporation (U.S.)
Objectives of the Study:
- To define, describe, and forecast the global facility management market on the basis of solutions, services, deployment types, business sizes, verticals, and regions
- To provide detailed information regarding major factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges)
- To strategically analyze micro-markets with respect to individual growth trends, future prospects, and contribution to the total market
- To forecast the market size with respect to five main regions, namely, North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and Latin America
- To strategically profile key players and comprehensively analyze their core competencies
- To track and analyze competitive developments such as joint ventures, Mergers and Acquisitions (M&A), new product developments, and Research and Development (R&D) activities in the facility management market
The target audiences of the facility management market report are given below:-
Facility management providers
- Integration service providers
- Managed service providers
- Cloud service providers
- Professional service (consultancy, training) providers
- End users (verticals)
- Facility management service providers (third-party vendors)
- Other IT tools vendors/providers (database, visual dashboards, GIS)
- Application developers
"Study answers several questions for the stakeholders, primarily which market segments to focus in next two to five years for prioritizing the efforts and investments."
Scope of the Report
The research report categorizes the facility management market to forecast the revenues and analyze the trends in each of the following subsegments:
- Asset and inventory management
- Workplace and relocation management
- Sustainability management
- Strategic planning and project management
- Real estate and lease management
- Maintenance management
- Others (space reservation and incident management)
- Integration and deployment
- Managed services
By Deployment Type
- On premises
By Business Size
- Small and medium-sized businesses
- Large enterprises
By Industry Vertical
- Banking, Financial Services, and Insurance (BFSI)
- IT and telecom
- Government and public administration
- Real estate and property
- Others (media & entertainment, transportation & logistics, and hospitality)
- North America
- Latin America
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