Emphasis on Component (Solutions and Services); Deployment (Cloud and On-premises); Organization Size (Large Enterprises and SMEs); End-User (Banking and Financial Services, Information and Communication Technology, Construction, Government, Healthcare, and Others); and Region and Country
The global facility management market is likely to showcase a growth of around 11% during the forecast period. Key factors influencing the growth of the facility management market are the increasing infrastructural investment, rising demand for value-added services, and the necessity to comply with environmental and regulatory norms. Also, the increasing adoption of cloud-based solutions and supportive government initiatives for the development of smart cities and business hubs has encouraged the end-user industries to invest in facility management services for strategic planning, implementing health and safety procedures, organizing maintenance, security of premises, which has resulted in a surge in facility management. Moreover, ongoing infrastructural projects all around the globe have significantly contributed to the growth of the facility management market. For instance, The Prime Minister of India Mr. Narendra Modi announced a USD 1.5 Tn master plan for multi-modal connectivity in October 2021, with the goal of developing infrastructure to reduce logistic costs and improve the economy. Similar types of infrastructural projects are in progress all around the world. Hence creating tremendous opportunities for the key facility management market players.
International Business Machines Corporation, Oracle Corporation, SAP SE, Fortive Corporation, Service Works Global, Causeway Technologies, Archidata Inc., Facilio Inc., Apleona Group GmbH, and UpKeep Technologies Inc. are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst deployment, on-premises category held prominent market share in 2020”
On the basis of deployment, the market is classified into cloud and on-premises. The on-premises segment accounted for a prominent share in the mattress market in 2020 and is expected to witness a substantial CAGR during the forecast period. This is due to some of the key features of the on-premises deployment such as operation without internet, greater security than the cloud deployment, and better control over confidential data. The applications deployed on-premises are less vulnerable to cyberattacks because enterprises can restrict the access of their resources and data to a group of selected people.
“Amongst end-user, construction category held prominent market share in 2020”
Based on end-user, the facility management market is classified into banking and financial services, information and communication technology, construction, government, healthcare, and others. Among these categories, the construction segment catered to a significant share of the global facility management market in 2020 and is anticipated to grow at a robust CAGR during the forecast period. The growth of this segment can be attributed to the ongoing infrastructural development all around the world coupled with the benefits facility management provides to the construction industry such as strategic planning, managing operations, implementing and organizing maintenance, security, and repairs of the premises. The growing real estate industry is further influencing the growth of this segment. For instance, according to the United States Census Bureau, around 137 Mn housing units were present in 2017 in the U.S. and this number rose to more than 140 Mn units in 2020. This means around 1 million houses were built every year. This directly affects the growth of the mattress market positively.
“North America is expected to witness a substantial growth during the forecast period”
The North American facility management market is expected to witness a prominent CAGR during the forecast period. The growth of this market can be attributed to the adoption of new and emerging technologies, the presence of key market players, and the rising real estate industry in the region. Moreover, recent innovations in the region have helped advance facility management solutions that make the entire process highly efficient and significantly improve the accuracy of various applications. Many new resolutions, mergers, and acquisitions are taking place in North America to attract opportunities for investments. Furthermore, the demand for facility management services is growing due to demand in domestic oil & gas production, an increase in adoption of smart technology in the workspace, a surge in the need to address data security concerns of clients to ensure a competitive position and rise in the positive impact of mid-size commercial organizations boost the facility management market in North America.
Reasons to buy this report:
Customization Options:
The global facility management market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.
1. Market Introduction
2. Research Methodology Or Assumption
3. Market Synopsis
4. Executive Summary
5. Facility Management Market Covid-19 Impact
6. Facility Management Market Revenue (usd Bn), 2019-2027f
7. Market Insights By Component
8. Market Insights By Deployment
9. Market Insights By Organization Size
10. Market Insights By End-user
11. Market Insights By Region
12. Facility Management Market Dynamics
13. Facility Management Market Opportunities
14. Facility Management Market Trends
15. Legal & Regulatory Framework
16. Demand And Supply Side Analysis
17. Value Chain Analysis
18. Competitive Scenario
19. Company Profiled
20. Disclaimer
Research Methodology for Global Facility Management Market Analysis (2021-2027)
Analyzing the historical market, estimating the current market, and forecasting the future market of facility management, three major steps are undertaken to create and analyze its adoption across the globe. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the facility management industry. Post assumption and validation of market numbers through primary interviews, we employed a bottom-up approach to forecast the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Seek More Details About Research Methodology
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of facility management through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the facility management market, we conducted a detailed secondary analysis to gather current market insights and share for different segments & sub-segments for major regions. The major segment is included in the report by component, deployment, organization size, and end-user. Further regional and country-level analyses were conducted to evaluate the overall adoption of facility management globally.
Step 3: Factor Analysis:
After obtaining the historical market size of the facility management market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments included in the report as component, deployment, organization size, and end-user. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global facility management market, and market shares of each segment. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the bottom-up approach were applied to arrive at the market forecast to 2027 for different segments and subsegments across the major regions globally. The research methodology adopted to estimate the market size encompasses:
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants by Stakeholders and Regions
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global mattress market. Data was split into several segments & sub-segments post studying various parameters and trends in the area of the component, deployment, organization size, and end-user.
The main objective of the mattress market study
The current & future market trends of the global facility management were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends would determine the overall attractiveness of the market at a country level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:
Customers who bought this item also bought
Emotion Detection and Recognition Market: Current Analysis and Forecast (2021-2027)
Emphasis on Technology (Feature Extraction & 3D Modeling, Biosensors, Natural Learning Processing (NLP), and Others); Software Tools (Facial Expression & Emotion Recognition, Gesture & Posture Recognition, Voice Recognition); Application Area (Marketing & Advertising, Law Enforcement, Surveillance & Monitoring, Entertainment & Consumer Electronics, Others); Region/Country.
November 15, 2022
Generative AI Cybersecurity Market: Current Analysis and Forecast (2024-2032)
Emphasis on Deployment (On-Premise, Cloud-Based, Hybrid); Technology (Generative Adversarial Networks (GANs), Variational Autoencoders (VAEs), Reinforcement Learning (RL), Deep Neural Networks (DNNs), Natural Language Processing (NLP), Others); Application (Network Security, Endpoint Security, Cloud Security, Application Security, Others); End-User (Banking, Financial Services, And Insurance (BFSI), Healthcare, Retail, IT & Telecom, Government and Defense, Energy and Utilities, and Others); and Region/Country
November 4, 2024
