Facility Management Services Market 2019 Industry Size, Emerging Technology, Sale Revenue, Growth Factors, Historical Demands, Gross margin by Forecast To 2023

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Facility Management Services Market 2019 Industry Size, Emerging Technology, Sale Revenue, Growth Factors, Historical Demands, Gross margin by Forecast To 2023

“Facility Management Services Market”
Global Facility Management Services Market: by Services (Project Management, Inventory Management, Maintenance Management), by Deployment (Cloud, On-Premise), Organization Size (SME, Large Enterprise), Industry Vertical (BFSI, Retail) – Forecast till 2023. According to the analysis of Market Research Future, the global facility management services market is anticipated to register a CAGR of 12% over the forecast period, 2018–2023.

Market Highlights:

Facility Management Services Markemethods and techniques of building management and infrastructure management of an organization to ensure the functionality of the built environment. The major factors contributing towards the growth are the growing need for maintaining the environmental and regulatory compliance and the demand for single integrated facility management.

According to Market Research Future, the global facility management services market has been segmented into services, deployment, organization size, industry vertical, and region.

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Segmentation:

By services, the market is segmented into project management, inventory management, maintenance management, operations management, and others. Among these, the inventory management and operations management accounted for the largest market share among services. As facility management is a software, which is either deployed on the cloud or on-premise devices, the services related to installation, maintenance and support of software are also essential. However, project management services are expected to account for the highest growth during the forecast period.

On the basis of deployment, the market is segmented into cloud deployment and on-premise deployment. Among deployment, the cloud deployment takes up the largest market share. In the recent times, most of the organizations, including manufacturing facilities are shifting towards automation, which makes it easier to deploy the software for facility management on the cloud. In addition, the flexible pricing of the cloud services helps in the adoption of technology by small and medium enterprises. On the basis of organization size, the market is segmented into SME and large enterprise.

On the basis of industry vertical, the market is segmented into BFSI, retail, IT & telecom, healthcare, government, energy and utilities, and others. Among these organizations, healthcare, energy and utilities, and retail are among the leading industry verticals adopting the facility management technology. However, retail is expected to be the fastest growing market with the highest CAGR during the forecast period. On the basis of region, the market is segmented into North America, Europe, Asia Pacific, and the rest of the world.

Key Players

The prominent players in the Facility Management Services Market are International Business Machines Corp. (U.S.), Oracle Corporation (U.S.), SAP AC (Germany), MCS Solutions Pvt Ltd (India), ARCHIBUS, Inc. (U.S.), Trimble Inc. (U.S.), CA Technologies (U.S.), Accruent (U.S.), Planon Ltd. (Netherlands), and FM: Systems Group, LLC. (U.S.).

Other players in the market include iOFFICE Corp. (U.S.), Maintenance Connection Inc. (U.S.), JadeTrack Inc. (U.S.), MetricStream Inc. (U.S.), Facility Management eXpress LLC. (U.S.), eMaint (U.S.), Hippo CMMS. (Canada), FSi Limited (England), Indus Systems, Inc. (U.S.), Autodesk, Inc. (U.S.), NEMETSCHEK SE (Germany), Archidata Inc. (Canada), OfficeSpace Software Inc. (U.S.), FacilityONE Technologies LLC (U.S.), and Apleona GmbH (Germany).

Regional Analysis:

The global Facility Management Market services is estimated to grow at a significant rate during the forecast period from 2017 to 2023. Among these regions, the market was led by North America due to technological advancements in the region and early adoption of the technology. One of the major factors contributing to the growth of the facility management market in North America is the growing adoption of software in enterprises and government and public sectors. North America, due to early adoption of this technology, has experienced a high market share in the facility management services market.

Europe is one of the technically advanced regions in terms of adoption of new technologies. The region has the highest number of industrial and manufacturing plants thereby requiring facility management services to manage facility/plant related operations. The market in Europe is expected to show a decent growth during the forecast period. At present, the market is holding the second spot in terms of market share. One of the major reasons for the matured growth of the facility management market in Europe is due to rise in automation and adoption of solutions catering to automation.

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Intended Audience:

  • Software Developers
  • Government Firms
  • Software Testers
  • Hardware Vendors
  • Storage Vendors
  • System Integrators
  • Application End-User
  • Research Firms

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