Facility management refers to the comprehensive range of services and solutions to efficiently manage and maintain physical assets, infrastructure, and facilities within an organization. This market encompasses various integrated processes and practices to ensure the optimal functioning, sustainability, and safety of buildings, equipment, and spaces. Facility management services include but are not limited to maintenance, operations, space planning, security, cleaning, and other support services, with the overarching goal of enhancing the overall productivity and well-being of the occupants while minimizing operational costs for the organization.
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Data Bridge Market Research analyses that the Global Facility Management Market is expected to reach USD 1,550,321.37 million by 2031 from USD 837,957.97 million in 2023, growing with a substantial CAGR of 8.2% in the forecast period of 2024 to 2031.
Key Findings of the Study
Rising Adoption of Security Systems in Facility Management
Security systems play a pivotal role in facility management, encompassing various aspects crucial for safeguarding assets and ensuring the smooth functioning of diverse facilities such as industrial enterprises, financial and governmental institutions, schools, medical facilities, and oil and gas companies require a unique set of safety and security measures as each type of property is vulnerable to different hazards.
Furthermore, automatic security systems for commercial buildings provide a viable solution to security issues with elevator and building access control options, comprehensive camera and recording security devices, thermal imaging solutions, along physical security for commercial buildings, institutes, and more, increasing the demand for security systems. Thus, propelling the market growth.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2024 to 2031
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Base Year
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2023
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Historic Years
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2022 (Customizable to 2016–2021)
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Quantitative Units
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Revenue in USD Million
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Segments Covered
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Offering (Solution and Service), Service Type (Hard Facility Management System and Soft Facility Management System), Model (Outsourcing Facilities Management and In-House Facilities Management), Facility Size (Large Facilities, Medium Facilities, and Small Facilities), Function (Real Estate Management, Maintenance Management, Asset Management, Building Systems, Financial & Performance Management, and Others), End-User (Banking, Financial Services, and Insurance (BFSI), IT and Telecom, Energy and Utilities, Construction and Real Estate, Manufacturing, Government and Public Administration, Media and Entertainment, and Others)
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Countries Covered
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U.S., Canada, Mexico, Germany, U.K., Italy, France, Spain, Switzerland, Netherlands, Belgium, Russia, Turkey, Norway, Finland, Denmark, Sweden, Poland, Rest of Europe, Japan, China, South Korea, India, Australia, Singapore, Vietnam, Taiwan, Thailand, Indonesia, Malaysia, Philippines, New Zealand, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, South Africa, U.A.E., Saudi Arabia, Kuwait, Egypt, Israel, Qatar, Bahrain, Oman and Rest of Middle East and Africa
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Market Players Covered
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CBRE (U.S.), Compass Group PLC (U.S.), Dussmann Group (Germany), OCS Group International Limited (U.K.), EMCOR Group, Inc. (U.S.), G4S Limited (Subsidiary of Allied Universal) (U.K.), Flexim Group (Switzerland), Jones Lang LaSalle IP, Inc. (U.S.), SIS Limited (India), BVG (India), ISS (Denmark), ABM INDUSTRIES INCORPORATED (U.S.), Cushman & Wakefield (U.K.), Sodexo (France), Mace Group (U.K.), Aramark(U.S.), Johnson Controls (U.S.), Mitie Group plc. (U.S.), Veolia (France), ENGIE (France), Colliers (Canada), Serco Group plc (U.K.), Eptura (U.S.), Oracle (U.S.), Fortive (U.S.), SAP (Germany), and IBM (U.S.), and Rentokil Initial plc (U.K.) among others
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Data Points Covered in the Report
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In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis
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Segment Analysis
The global facility management market is segmented six notable segments, based on offering, service type, model, facility size, function, and end-user.
- On the basis of offering, the market is segmented into solution and service
In 2024, the solution segment is expected to dominate the global facility management market
In 2024, the solution segment is expected to dominate the market with 61.59% as the integration of advanced technologies and the demand for comprehensive, streamlined approaches to facility operations.
- On the basis of service type, the market is segmented into hard facility management system and soft facility management system
In 2024, the hard facility management system segment is expected to dominate the global facility management market
In 2024, the hard facility management system segment is expected to dominate the market with a 57.52% market share due to hard facility management involving essential services such as building maintenance, HVAC systems, electrical systems, and plumbing, ensuring the structural integrity and functionality of facilities.
- On the basis of model, the market is segmented into outsourcing facilities management and in-house facilities management. In 2024, the outsourcing facilities management segment is expected to dominate the market with a 54.04% market share.
- On the basis of facility size, the market is segmented into large facilities, medium facilities, and small facilities. In 2024, the large facilities segment is expected to dominate the market with a 48.65% market share.
- On the basis of function, the market is segmented into real estate management, maintenance management, asset management, building systems, financial & performance management, and others. In 2024, the real estate management segment is expected to dominate the market with a 36.01% market share
- On the basis of end-user, the market is segmented into Banking, Financial Services, and Insurance (BFSI), IT and telecom, energy and utilities, construction and real estate, manufacturing, government and public administration, media and entertainment, and others. In 2024, the Banking, Financial Services, and Insurance (BFSI) segment is expected to dominate the market with a 30.13% market share
Major Players
Data Bridge Market Research analyzes CBRE (U.S.), Johnson Controls (U.S.), Sodexo (France), Compass Group PLC (U.S.), Veolia (France) as major market players in global facility management market.
Market Development
- In January 2024, Compass Group PLC expanded its facility management business in India, anticipating it to become one of its top five markets. The company aimed to increase its facility space from 2 million to 10 million square feet, capitalizing on the return of employees to offices and the growing trend of corporate leasing
- In January 2024, Aramark recently launched a groundbreaking program connecting its clinical dietitians with hospital patients via cloud-based technologies. The initiative featured a unique technology service agreement with Teladoc Health, integrating Microsoft Teams. This allowed Aramark to provide communication tools to hospitals, breaking down barriers for underserved patients. The program, complying with state regulations, offered hospitals a comprehensive telehealth solution, enhancing patient care and addressing technological and location limitations
- In January 2024, Colliers finalized the expansion of a ±12,432 square-foot industrial investment site at 7011 Zenith Avenue in Lubbock, Texas. The Capital Real Estate Investments, the buyer, was skillfully represented by Troup Rolland. Colliers' team, led by Todd Moore, Trey Horne, and Connor Duffy, facilitated the transaction on behalf of the seller, WRSLUB, LLC. This strategic purchase enhanced the company's portfolio, providing a valuable industrial outdoor storage facility leased to Worldwide Rental Services boosting visibility and proximity to key locations in Lubbock
- In November 2023, Veolia has an initiative at the Smart City Expo in Barcelona, declaring the global implementation of its AI-driven digital solution, "Hubgrade." This innovative technology facilitates intelligent monitoring of water, energy, and waste production and consumption. The deployment of Hubgrade is poised to revolutionize resource management for cities and industries, allowing them to optimize resource usage efficiently. This strategic move underscores Veolia's commitment to sustainability and resource preservation on a global scale. Implementing this digital solution is expected to bolster the company's operational efficiency, reinforcing its position as a leader in water, energy, and waste management
- In April 2023, Cushman & Wakefield in collaboration with Management K.K successfully finished the construction of LF Nara, multi-tenant logistics facility in Ando-cho, Ikoma-gun, Nara Prefecture. The Completion Ceremony, held on April 3, 2023, marked the debut of Nara Prefecture's first multi-tenant logistics facility. Spanning four floors over 124,000 square meters on a 58,000 square meter site, LF Nara boasts a unique double rampway, enabling direct access for 45-foot container trucks to each floor, thereby enhancing logistics efficiency. This benefits the company by strengthening its relationship with clients and increasing revenue
Regional Analysis
Geographically, the countries covered in the global facility management market report are U.S., Canada, Mexico, Germany, U.K., Italy, France, Spain, Switzerland, Netherlands, Belgium, Russia, Turkey, Norway, Finland, Denmark, Sweden, Poland, Rest of Europe, Japan, China, South Korea, India, Australia, Singapore, Vietnam, Taiwan, Thailand, Indonesia, Malaysia, Philippines, New Zealand, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, South Africa, U.A.E., Saudi Arabia, Kuwait, Egypt, Israel, Qatar, Bahrain, Oman and Rest of Middle East and Africa.
As per Data Bridge Market Research analysis:
North America is the dominant region in the global facility management market.
North America is expected to dominate the global facility management market as the region's advanced infrastructure, technological adoption, and stringent regulatory requirements drive the demand for sophisticated facility management solutions. Moreover, the presence of a large number of key players and a robust service industry further bolsters the market.
Europe is estimated to be the fastest-growing region in the global facility management market.
Europe is expected to grow due to the growing business acumen among industry leaders and economic diversification beyond the automobile sector, also, Europe's facility management market is experiencing rapid growth.
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