PUNE, India, Nov. 14, 2019 /PRNewswire/ -- The global Facilities Management Market is projected to witness exponential growth in the forecast period on account of various collaborative contracts, mergers and acquisitions, and other initiatives taken by vendors. Fortune Business Insights in their report titled, "Facilities Management Market Size, Share & Industry Analysis, By Service Type (Hard Services, Soft Services and Others Services), By Industry Vertical (Healthcare, Government, Education, Military & Defense, Real Estate and Others) and Regional Forecast, 2019-2026," predicts such initiatives to help the market gain momentum in the forecast duration.
The report offers an in-depth analysis of the global Facilities Management Market, primarily focusing on the growth drivers, restraints, trends and opportunities. It also offers a qualitative and quantitative approach to the market with important innovations by facilities management companies. Information provided in the report is extracted from both primary and secondary sources. The report is available for sale on the Fortune Business Insights website.
According to the report, the Facilities Management Market is expected to rise from USD 1.19 Trillion to USD 1.74 Trillion. The forecast period is set from 2019 to 2026 and the market is anticipated to accelerate at a CAGR of 4.9%. As per the current Facilities Management Market trends, the market was dominated by the hard service sub-segment in 2018 with a revenue of 49.1% and is further expected to continue dominating in the forecast period as well. Factor boosting the growth of this segment is the rise in construction activities for various industrial and commercial purposes.
Browse Complete Report Details with Table of Content and Figures:
Construction of New Infrastructure for Various Commercial and Industrial Purposes to Promote Growth
Facilities management includes factors such as travel booking, waste disposal, security, plumbing and drainage, air conditioning maintenance, handyman services, decoration and refurbishment and others. The most crucial factor responsible for high Facilities Management Market share is the surge in building of infrastructure activities globally. Construction of new infrastructure further propels the demand for other sectors mentioned above thus boosting the overall market growth.
However, small and medium-size companies face issues in investments on hard and soft services because of the lack of financial resources. This may pose a challenge to the market in the long run.
Nevertheless, governments of both emerging as well as developed nations are focusing on investing in the tourism industry in order to improve their economic diversification. They are aiming at implementing multiple changes to attract more revenue from the tourism sector. To cite an example, the government in the kingdom of Saudi Arabia has started issuing tourist visas for the first time in 2019. This is an important change in the history of the nation that is most likely to attract high revenue from the tourism sector.
Asia Pacific to Witness Rapid Growth Rate Owing to Rising Infrastructure Development Activities
Geographically, the market is expected to witness the dominance of Asia Pacific owing to the rise in infrastructure development activities. In 2018, Asia Pacific held a Facilities Management Market size of USD 458.55 Billion. This is further expected to continue growing at a rapid pace in the forecast period on account of the presence of both organized and un-organized players. Besides this, the market in North America is more likely to witness prominent growth. This is because of the saturated infrastructure sector and the presence of well-established facilities management companies in the region. In the coming years, the U.S. market is expected to hold the largest market share because of the reason listed above.
List of Key Companies Profiled in the Facilities Management Market Research Report Includes:
- CBRE Group, Inc.
- ISS A/S
- Compass Group
- Jones Lang LaSalle Incorporated
- Cushman & Wakefield plc.
- Tenon Group
- Johnson Controls International plc.
- AMEC Facilities
Table of Content:
- Definition, By Segment
- Research Approach
- Executive Summary
- Market Dynamics
- Drivers, Restraints and Opportunities
- Emerging Trends of Market
- Key Insights
- Macro and Micro Economic Factors
- Key Technological Developments
- Consolidated SWOT Analysis of Key Players
- Porter's Five Forces Analysis
- Global Facilities Management Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Sizing Estimations and Forecasts – By Service Type (Value)
- Hard Services
- Soft Services
- Other Services
- Market Sizing Estimations and Forecasts – By Industry (Value)
- Military & Defence
- Real Estate
- Others (IT & Telecommunication, BFSI, etc.)
- Market Analysis, Insights and Forecast – By Region (Value)
- North America
- Asia Pacific
- Middle East and Africa
- Latin America
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