Facilities Management Market to grow by USD 730.53 billion from 2022 to 2027 | Increasing emphasis on outsourcing building management services drives the market

NEW YORK, Aug. 21, 2023 /PRNewswire/ — The facilities management market size is growing by USD 730.53 billion from 2022 to 2027, at a CAGR of 9.29% during the forecast period. The market is fragmented due to the presence of diversified international and regional vendors. Increasing emphasis on outsourcing building management services is notably driving the market growth. A growing tendency towards outsourcing business management facilities is one of the main drivers that contribute to growth in the facilities management market. Large organizations such as MNCs and certain SMBs are increasingly preferring outsourced facilities management services and solutions from third-party service providers. Nevertheless, they analyze the suitable mix of insourcing and outsourcing of the services based on parameters such as capability, cost, and service coverage. Moreover, outsourcing is having a considerable influence on the development of the facilities management (FM) market in several regions. Such a growing focus on outsourcing building management services will fuel the facilities management market during the forecast period.

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Facilities Management Market 2023-2027: Scope

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The facilities management market report covers the following areas:

Facilities Management Market 2023-2027: Company Analysis

The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Competitors have to focus on differentiating their product offerings with unique value propositions to strengthen their foothold in the market. Market companies also have to leverage the existing growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments. ABM Industries Inc., Aramark, Atlas Facilities Management Ltd., Coor Service Management Holding AB, International Business Machines Corp., ISS AS, Johnson Controls International Plc, Mitie Group Plc., OCS Group Ltd., Prosegur Compania de Seguridad SA, SAP SE, SECURITAS AG, Serco Group Plc, SIS Ltd., Sodexo SA, and The Brinks Co. are among some of the major market participants.

Company Offerings

International Business Machines Corp. – The company offers facilities management solutions through its IBM TRIRIGA Application Suite.
ISS AS – The company offers integrated facility management, which uses a combination of data, insights, technology, and service excellence to deliver experiences at offices, factories, airports, and hospitals across the country.
Johnson Controls International Plc – The company offers smart buildings and facilities management solutions such as Assurance services and Frictionless access and visitor management.

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Market Dynamics

Trends

The adoption of green cleaning products is an emerging market trend. Chemicals such as hormone disruptors, carcinogens, and allergens are present in some cleaning products available on the market. Regular use of these chemicals can lead to respiratory disorders, depression, and allergies. In addition, some of the chemicals are harmful to the environment. Nevertheless, growing awareness of the advantages of green and eco-friendly products among commercial and industrial users has facilitated companies to deliver green and sustainable cleaning agents. The rising adoption of green and sustainable cleaning methods and products will have a favourable influence on the facilities management market during the forecast period.

Challenge

The rise in budgetary constraints is a significant challenge hindering market growth.

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Facilities Management Market 2023-2027: Segmentation

Facilities Management Market is segmented as below:

End-user

Commercial
Government
Residential

Service

Soft services
Hard services

Geography

APAC
North America
Europe
South America
Middle East And Africa

The commercial segment will account for a major share of the market’s growth during the forecast period. The major request for facilities management arises from the business services sector, information technology (IT) sector, industrial and manufacturing sector, real estate sector, and healthcare sector. Office buildings are projected to occupy a large share of this segment, for a safe, secure, and convenient workplace due to the increased demand. This sector incorporates a range of facilities that include bank branches, brokerages and check-cashing outlets, credit unions, insurance outlets, and stand-alone automated teller machines (ATMs). Therefore, the commercial segment is one of the important contributors to the facilities management (FM) market.

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Facilities Management Market 2022-2026: Key Highlights

CAGR of the market during the forecast period 2023-2027
Detailed information on factors that will assist facilities management market growth during the next five years
Estimation of the facilities management market size and its contribution to the parent market
Predictions on upcoming trends and changes in consumer behavior
The growth of the facilities management market
Analysis of the market’s competitive landscape and detailed information on vendors
Comprehensive details of factors that will challenge the growth of the facilities management market, vendors

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The UK Facility Management Market size is estimated to grow at a CAGR of 4.28% between 2022 and 2027 and the size of the market is forecast to increase by USD 17.47 billion. This report extensively covers market segmentation by type (soft facility management and hard facility management) and end-user (commercial, government, and residential). The increasing demand for cloud-based facilities management solutions is significantly driving the market growth.

The Business Process Management (BPM) Market size is estimated to grow at a CAGR of 10.1% between 2022 and 2027. The market size is forecast to increase by USD 8,910.27 million. This report extensively covers market segmentation by deployment (on-premises and cloud-based), end-user (BFSI, government and defense, healthcare, IT and telecommunication, and retail), and geography (North America, Europe, APAC, Middle East and Africa, and South America). One of the key factors driving the business process management market growth is the increasing demand for process automation and digital transformation.

Facilities Management Market Scope
Report Coverage	Details
Base year	2022
Historic period	2017-2021
Forecast period	2023-2027
Growth momentum & CAGR	Accelerate at a CAGR of 9.29%
Market Growth 2022-2026	USD 730.53 billion
Market structure	Fragmented
YoY growth 2022-2023(%)	8.65
Regional analysis	APAC, North America, Europe, South America, and Middle East and Africa
Performing market contribution	APAC at 42%
Key countries	US, China, India, Germany, and France
Competitive landscape	Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks
Key companies profiled	ABM Industries Inc., Aramark, Atlas Facilities Management Ltd., Coor Service Management Holding AB, International Business Machines Corp., ISS AS, Johnson Controls International Plc, Mitie Group Plc., OCS Group Ltd., Prosegur Compania de Seguridad SA, SAP SE, SECURITAS AG, Serco Group Plc, SIS Ltd., Sodexo SA, and The Brinks Co.
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of contents

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by End-user

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Vendor Landscape

12 Vendor Analysis

13 Appendix

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