Facilities Management Industry Global Market Growth, Size, Trends, Insights And Forecast To 2026

The global Facilities Management Market is projected to observe tremendous growth in coming years owing to the rising need for effective organizational functions management by combining process, place, and people in large work environments. Rising focus on managing workspaces, using services like space utilization, energy & utilities, and contract management, to ensure higher productivity, would enable the market growth.

The industry is also poised to witness considerable growth from the tourism and hospitality sectors given the constant need to provide a continuous as well as efficient power supply to the sector’s infrastructure. Entertainment hubs, hotels, and airports use facility management (FM) services to manage their day-to-day activities. As per the UK government, in 2018, the country had had over 38 million international tourists. This number is expected to grow by a quarter by the end of 2025. While the COVID-19 pandemic has severely impacted the global tourism and hospitality sectors, hopes of the world getting an early vaccine by 2021 is likely to bring respite to this slump, with the industries mostly bringing in business from local tourism.

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A Global Market Insights Inc. report forecasts that the facilities management market is likely to surpass a valuation of $2 trillion by the end of 2026.

With respect to the type, the in-house service segment is projected to register a CAGR of more than 7% throughout the forthcoming timeframe. In-house facilities management gives enterprises the ability to onload the workforce they need to fulfil a particular business requirement. Moreover, it also incurs a cost that is fixed, which helps companies make sophisticated financial planning. In fact, the segment is slated to see immense growth due to the growing number of startups and the fixed costs mentioned above.

In terms of service, the management service segment is forecast to witness commendable growth owing to the rising demand for efficient and consistent power supply from enterprises operating in the tourism, hospitality, and other crucial infrastructure industries. Management service providers take full control of the maintenance of electrical utilities and equipment in firms, allowing improved business efficiency. In addition, the rising demand for preventive maintenance of the HVAC as well as the electrical distribution systems should also positively impel the market expansion. The segment is projected to expand at a CAGR of more than 8% through the analysis period.

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On the regional front, increasing regulatory initiatives for smart city as well as large infrastructure development is expected to impel the Asia Pacific facilities management market growth. In fact, the regional industry is projected to hold more than a 25% share of the overall market by the end of 2026. Several government agencies are teaming up to build large scale projects in the region, which is creating more demand for effective FM capabilities. Taking July 2019 for instance, Myanmar and Japanese governments formed a new JV to construct the Hanthawaddy International Airport in Myanmar. The new airport will be built in Myanmar’s Bago region and is most likely see investment of around $1.5 billion.

Apart from such joint ventures, the industry is also witnessing acquisitions and takeovers among market players. Taking January 2019 for instance, Cushman & Wakefield, a global commercial real estate services company, reportedly completed its acquisition of Quality Solutions Inc., which expanded its facilities management footprint throughout the North American markets.

The competitive landscape of the global facilities management market is inclusive of players such as Oracle Corporation, IBM Corporation, Compass Group Plc, CBRE Group Inc., and Aramark Corporation among others.

Browse key industry insights spread across 364 pages with 489 market data tables and 27 figures & charts from the report, Facilities Management Market in detail along with the table of contents:

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Report Content

Chapter 3   Facilities Management Industry Insights

3.1    Introduction

3.2    Industry segmentation

3.3    Impact analysis of COVID-19 outbreak

3.3.1    Global outlook

3.3.2    Regional outlook

3.3.2.1    North America

3.3.2.2    Europe

3.3.2.3    Asia Pacific

3.3.2.4    Latin America

3.3.2.5    Middle East & Africa (MEA)

3.3.3    Impact on industry value chain

3.3.4    Impact on competitive landscape

3.4    Industry ecosystem analysis

3.4.1    Technology & innovation Landscape

3.4.2    Cognitive facilities management

3.4.3    Internet of Things (IoT)

3.5    Regulatory landscape

3.5.1    International Facility Management Association (IFMA)

3.5.2    ISSA (International Sanitary Supply Association)

3.5.3    North America

3.5.3.1    Facility Management Institute (FMI) By General Services Administration (GSA)

3.5.3.2    Facility Maintenance Policy (Canada Government)

3.5.4    Europe

3.5.4.1    Guide to the Safety, Health and Welfare at Work Act 2005

3.5.4.2    Institute of Workplace and Facilities Management (IWFM)

3.5.4.3    British Institute of Facilities Management (BIFM)

3.5.5    Asia Pacific

3.5.5.1    National Building Code of India 2016

3.5.5.2    Facilities Management Association of Australia (FMA)

3.5.6    Latin America

3.5.6.1    International Federation of Consulting Engineers (FIDIC) (Brazil)

3.5.6.2    Construction & Engineering Law 2019 (Mexico)

3.5.7    MEA

3.5.7.1    Middle East Facilities Management Association (MEFMA)

3.5.7.2    South African Facilities Management Association (SAFMA)

3.5.8    Growth drivers

3.5.8.1    Rapidly growing tourism and hospitality sectors

3.5.8.2    Supportive government initiatives for the development of smart cities and business hubs

3.5.8.3    Rising demand for value-added services

3.5.8.4    Growing investments in the construction sector

3.5.8.5    Necessity to comply with environmental and regulatory norms

3.5.8.6    Inclination towards virtual workplace and demand for personalized services

3.5.9    Industry pitfall and challenges

3.5.9.1    Slow adoption of outsourced facilities management services

3.5.9.2    Integration of facility management with legacy ERP systems

3.6    Growth potential analysis

3.7    Porter’s analysis

3.7.1    Bargaining power of suppliers

3.7.2    Bargaining power of buyers

3.7.3    Threat of new entrants

3.7.4    Threat of substitutes

3.8    PESTEL analysis

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