Global Facility Management Services Market to Reach $2.52 Billion by 2030

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Aug 24, 2022, 07:45 ET

DUBLIN, Aug. 24, 2022 /PRNewswire/ -- The "Facility Management Services Market by Service Type, Type, End-user: Global Opportunity Analysis and Industry Forecast, 2020-2030" report has been added to ResearchAndMarkets.com's offering.

The facility management services market was valued at $1,253.3 billion in 2020, and is expected to reach $2,525.1 billion by 2030, registering a CAGR of 7.1% from 2021 to 2030. Facility management services expand the worth of the building by offering different maintenance solutions.

Furthermore, these services offer more noteworthy returns over the real estate investments to landowners through administration and value-added solutions. The facility management services uphold functional and financial goals of proprietors. The services include applications, such as security, plumbing, finishing, electrical arrangements and cleaning for different uses.

The global facility management services market experiences growth due to rise in urbanization and industrialization. The growing urbanization leads to growing tourism and hospitality industry. In addition, different industries like petroleum, mining, transportation, and pharmaceutical are growing due to rise in urbanization.

The huge industrial sector requires the timely maintenance of industrial facilities, which drives the growth of the facility management services market. In addition, different organizations have goals regarding safeguarding their assets that require huge investment and safeguarding them requires maintenance solutions. This is expected to drive the growth of the market. Moreover, the development of mega projects in different countries is growing, which demands for timely maintenance owing to greater investment and spending. Hence, such investments are expected to drive the growth of the facility management services market.

However, adoption of outsourced facility management services over in-house facility management services restrains the growth of the facility management services market. In addition, lack of education in developing countries leads to lesser skilled workforce, which leads to low understanding of the facility management services. Hence, the lower awareness is expected to hamper the growth of the facility management services market.

Advancement of technology owing to use of Internet of Things (IoT) provides better security, is predicted to create lucrative opportunities for companies operating in the market. In addition, different initiatives by governments lead to rise in investments over commercial and railway projects. This in turn, is expected to offer new opportunities for the facility management service providers.

Key Market Segments

By Service Type

Cleaning
Security
Catering
Others
Property

By Type

Outsourced
In-house

By End-user

Commercial
Institutional
Public/Infrastructure
Industrial
Others

By Region

North America
U.S.
Canada
Mexico
Europe
France
U.K.
Italy
Rest of Europe
Germany
Asia-Pacific
China
Japan
India
South Korea
Rest Of Asia Pacific
LAMEA
Latin America
Middle East
Africa

Key Market Players

BVG India
Group Atalian (Arthur McKay & Co Ltd.)
CBRE Group, Inc.
EMCOR Group, Inc.
ISS World Services A/S
Knight Facilities Management
Quess Corp Ltd
Sodexo, Inc.
Downer Group (Spotless Group)
Tenon Group

Key Topics Covered:

CHAPTER 1: INTRODUCTION

CHAPTER 2: EXECUTIVE SUMMARY

CHAPTER 3: MARKET OVERVIEW

CHAPTER 4: FACILITY MANAGEMENT SERVICES MARKET, BY SERVICE TYPE

CHAPTER 5: FACILITY MANAGEMENT SERVICES MARKET, BY TYPE

CHAPTER 6: FACILITY MANAGEMENT SERVICES MARKET, BY END-USER

CHAPTER 7: FACILITY MANAGEMENT SERVICES MARKET, BY REGION

CHAPTER 8: COMPANY LANDSCAPE

CHAPTER 9: COMPANY PROFILES