The facility management market is estimated to grow from USD 28.90 Billion in 2016 to USD 56.67 Billion by 2021, at a high Compound Annual Growth Rate (CAGR) of 14.42% during the forecast period.
Facility management solutions are gaining significant importance among organizations as they facilitate agility and efficiency in business functioning. The facility management concept comprises software and solutions that enable efficient management and use of work space, real estate, assets, relocation of offices and buildings, and energy management; it standardizes services and streamlines processes. The enterprises are moving beyond the traditional concepts of facility management to address rapid technology changes and today's business needs that is helping in the increasing adoption of these solutions.
The report provides detailed insights into the global facility management market, which is segmented by solution, service, deployment type, business size, vertical, and region. The maintenance management solution is observing great opportunities and is gaining significant importance among corporates as it facilitates the integration of specific tools which can be utilized for planning, forecasting, and evaluating maintenance work related to assets, equipment, properties, and any other related facilities
In terms of services, integration and deployment service is to dominate the facility management service market and is expected to contribute the largest market size, whereas managed service is set to grow at the highest rate during the forecast period. Facility management enabled easy installation and deployment of solution and also provides solutions according to the user requirements. This technology has become popular among enterprises and is expected to decide the future of the facility management. Business expansions and increasing investments in facility management across the world and the increasing adoption of these solutions is further fuelling the growth of the facility management market.
The market in North America is expected to hold the largest share of the market. The APAC region is projected to have great opportunities in this market and would grow at the highest CAGR by 2021 due to the increasing adoption of facility management solutions in this region and the presence of various developing countries, such as China, India, and the Philippines.
However, there is a lack of managerial awareness, which may act as a restraining factor for the market. The traditional approach of manual workplace management is a tedious process. However, with the gradual increase in the adoption of these solutions and proliferation of their benefits, managers are anticipated to start favoring the use of these solutions for managing daily operations. Facility management market solutions have various benefits such as efficient business operations with easy integration and rapid deployment ability that helps in driving this market.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Facility Management Market Analysis, By Solution and Service
8 Facility Management Market Analysis, By Deployment Type
9 Facility Management Market Analysis, By Business Size
10 Facility Management Market Analysis, By Vertical
11 Geographic Analysis
12 Competitive Landscape
13 Company Profiles
- Accruent, LLC.
- Archibus, Inc.
- CA Technologies
- FM System, Inc.
- IBM (International Business Machines) Corporation
- Idox PLC
- Ioffice Corporation
- Oracle Corporation
- Planon Corporation
- SAP SE.
- Satnav Technologies
- Trimble Navigation Ltd.
For more information about this report visit http://www.researchandmarkets.com/research/kmblv4/facility
Research and Markets
Laura Wood, Senior Manager
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SOURCE Research and Markets