Global Facility Management Market is expected to foresee significant growth. North America to lead the growth!

Global facility management market is expected to register a CAGR of around 11% over the period of 2021-2027. 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.

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Based on component, the market is segmented into solutions and services. The services segment possessed a significant share of the revenue in the market in 2020 and is anticipated to grow at a prominent CAGR during the forecast period. This is because services are an important part of the facility management market, with a focus primarily on improving business processes and streamlining facility operations.

On the basis of deployment, the market is bifurcated into cloud and on-premises. The on-premises segment held a prominent share in the mattress market in 2020 and is expected to be a prominent shareholder during the forecast period. The growth of this segment is primarily attributed to some of the key features of the on-premises deployment such as operation without internet, greater security than the cloud deployment, better control over confidential data.

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For a better understanding of the market adoption of the facility, the market is analyzed based on its worldwide presence in the countries such as North America (US, Canada, Rest of North America), Europe (Germany, France, Spain, UK, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Rest of APAC), and Rest of World. North America held a prominent share of the facility management market in 2020 and is expected to grow at a substantial rate during the forecast period mainly owing to the adoption of new and emerging technologies, and the strong financial position of key market players. The region is consist of developed countries with well-established infrastructure, creating a great demand for facility management solutions.

Some of the major players operating in the facility management market are 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.

Global Facility Management Market Segmentation

Market Insight, by Component

• Solutions
• Services

Market Insight, by Deployment

• Cloud
• On-premises

Market Insight, by Organization Size

• Large Enterprises
• SMEs

Market Insight, by End-User

• Banking and Financial Services
• Information and Communication Technology
• Construction
• Government
• Healthcare
• Others

Market Insight, by Region

• North America
  • US
  • Canada
  • Rest of North America
• Europe
  • Germany
  • France
  • Spain
  • UK
  • Rest of Europe
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Rest of Asia-Pacific
• Rest of the World

Top Company Profiles

• International Business Machines Corporation
• Oracle Corporation• SAP SE• Fortive Corporation• Service Works Global• Causeway Technologies• Archidata Inc.• Facilio Inc.• Apleona Group GmbH• UpKeep Technologies Inc.