Global facility Management Services Market is Expected to Reach US$ 2127.4 Million by 2027, Growing at an Estimated CAGR of 5.5% Over the Forecast Period as the Firms are Focusing More on Strategic Activities of Facility Management Rather Than day to day Operations, Says Absolute Markets Insights

PUNE, India, Feb. 10, 2020 /PRNewswire/ -- The main goal for any organization is to improve their Return on Investments (ROI), increase productivity and reduce costs associated with operations. With the help of facility management, firms can achieve these goals. Nowadays, firms have increased their emphasis on facility management, since they believe a proper hygienic, environment friendly facility would improve a company's overall performance, thus enabling them to increase their gross profit margin. However, facility managers are unable to focus entirely on strategic aspect of facility management and tend to spend most of the time on day to day activities, thus missing some of the crucial/core activities that is important for a company to sustain. It has been reported only 20% of the facility managers spend time on strategic activities, whereas 53% of the facility managers spend time on day to day operations. With the aid of facility management services, firms can focus on their core competencies.

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Key Performance indicators (KPI) is very important in facility management, as they provide a vision and a clear view of the targets, which help in improving overall quality of the service and thereby increasing customer satisfaction. Service level agreement management is the largest segment in the global facility management service market as it helps to define the metrics by which the quality of the service can be measured.

Some of the third party service providers are unable to meet the required quality standards, leading to distrust between firms and third party firms. This could slow down the growth of the facility management services market. However, with employees having a greater influence over workplace decisions and conditions, the global facility management services market is set to increase in the coming years.     

The detailed research study provides qualitative and quantitative analysis of global facility management services market. The market has been analyzed from demand as well as supply side. The demand side analysis covers market revenue across regions and further across all the major countries. The supply side analysis covers the major market players and their regional and global presence and strategies. The geographical analysis done emphasizes on each of the major countries across North America, Europe, Asia Pacific, Middle East & Africa and Latin America.

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Key Findings of the Report:

• In terms of revenue, global facility management services market is expected to reach US$ 2127.4 million by 2027, due to increased demand from government and public sector firms.
• Integrated facility management is expected to witness a considerable growth over the next eight years as companies are focusing to achieve long term economic benefits
• Service level agreement management in the service segment is expected to witness a considerable growth over the next eight years due to increased demand from B2B industry
• Government and Public administration is expected to witness the highest growth over the forecast period owing to demand for improved operational and environmental performance at government facilities.
• Asia Pacific facility management services market is projected to witness the highest CAGR of 9.7% over the forecast period. This is mainly due to adoption of facility management services by firms operating out of India and China.
• Some of the players operating in the facility management services market are Accruent, Apleona HSG GmbH, ARCHIBUS, Inc., Archidata Inc., Autodesk Inc., CA Technologies (Broadcom Inc.), FM Systems, FSI (FM Solutions) Limited, IBM Corporation, iOFFICE, ISS, JadeTrack Inc., NEMETSCHEK INC., Office Space Service Inc., ONE FM, Oracle, Planon, SAP SE, SatNav Technologies, Sodexo, Trimble Inc., Trivalor amongst others.

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Facility Management Services Market:

By Facility Management Type

• In-House Facility Management
• Outsourced Facility Management
• Integrated Facility Management

By Solution:

• Integrated Workplace Management System
• Building Information Modeling
• Facility Operations and Security Management
• Lease Accounting and Real Estate Management

By Service

• Consulting
• Auditing and Quality Assessment
• Support and Maintenance
• Service Level Agreement Management

By Deployment

• Cloud Based
• On Premise

By Organization Size

• Small and Medium Enterprises
• Large Enterprises

By Industry

• Information Technology and Telecom
• Healthcare
• Retail
• Manufacturing
• Construction and Real Estate
• Banking, Financial Services, and Insurance
• Government and Public Administration
• Others

By Geography

• North America
• U.S.
• Canada
• Mexico
• Europe
• France
• The UK
• Spain
• Germany
• Italy
• Nordic Countries
• Denmark
• Finland
• Iceland
• Norway
• Sweden
• Benelux Union
• Belgium
• The Netherlands
• Luxemburg
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• New Zealand
• Australia
• South Korea
• Southeast Asia
• Indonesia
• Thailand
• Malaysia
• Singapore
• Rest of Southeast Asia
• Rest of Asia Pacific
• Middle East & Africa
• Saudi Arabia
• UAE
• Egypt
• Kuwait
• South Africa
• Rest of Middle East & Africa
• Latin America
• Brazil
• Argentina
• Rest of Latin America

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SOURCE Absolute Markets Insights