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Global Facility Management Market is expected to reach US$ 71.5 Bn by 2024 from US$ 32.15 Bn in 2016 at a CAGR of 12.1%. This is a comprehensive global report focused on the current and future prospects of the Global Facility Management Market. This report is a consolidation of primary and secondary research, which provides market size, share, dynamics, and forecast for various segments and sub-segments considering the macro and micro environmental factors. An in-depth analysis of past trends, future trends, demographics, technological advancements, and regulatory requirements for the Global Facility Management Market has been done in order to calculate the growth rates for each segment and sub-segments.Global Facility Management Market
The major growth factors for the market include growth in the development of sustainable infrastructure, and in the adoption of IoT and connected devices for building automation across industry verticals. Moreover, a rise in need to meet environmental and regulatory compliance, and spur in the demand for integrated facility management to achieve economies of scale are also driving the market. The rise in cost of labor and the growing presence of unorganized players in the facilities management market and low-cost delivery provided by such players are hindering the growth of the facilities management market. Rise in collaboration of local facilities management companies with international service providers is offering new opportunities for the facilities management market globally.
In the solutions segment, the facility property management segment is anticipated to hold the largest market share. Facility property management solutions help enterprises derive tangible value from their business operations, by enhancing their efficiency and effectiveness. These solutions are further segmented into lease accounting and real estate management, asset maintenance management, workspace and relocation management, and reservation management.
In terms of services, the SLA management segment is anticipated to grow at the highest rate attributed to the fact that facility management vendors enable their clients to maintain and manage all SLAs and further help facility management teams to monitor the availability and performance of their critical facility management SLAs.
Geographically, the global facility management market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. North America is expected to hold of the largest market share for Facility Management Market among other regions in 2016. The Middle East and Africa this is majorly due to the mega infrastructure developments that are taking place and rapid growth in the opportunities for facilities management in the MEA region.
Some of the key players in the facility management market are Arthur McKay & Co Ltd., Bellrock Property& Facilities Management Ltd., Bilfinger HSG Facility Management GmbH, Broadspectrum (Australia) Pty Ltd., ISS World Services A/S, Knight Facilities Management, Quess Corp Ltd., Sodexo, Inc., and Spotless Group Ltd.
Global Facility Management Market, by Solutions
• Facility Property Management
• Integrated Workplace Management System
• Facility Environment Management
• Facility Operations & Security Management
• Building Information Modeling
Global Facility Management Market, by Services
• SLA Management
• Deployment & Integration
• Auditing & Quality Assessment
• Support & Maintenance
Global Facility Management Market, by Deployment Type
Global Facility Management Market, by Organization Size
• Small & Medium Enterprises
• Large Enterprises
Global Facility Management Market, by Vertical
• IT & Telecom
• Publications & Research
• Government & Public Administration
• Energy & Utilities
• Construction & Real Estate
Global Facility Management Market, by Geographies:
• North America
• Asia Pacific
• Middle East & Africa
• Latin America
The major key players that influence the growth of Global Facility Management Market includes:
• CA Technologies
• SAP SE
• Oracle Corporation
• Maintenance Connection
• MCD Solutions
Maximize Market Research offers customization of the report and scope of the report according to the specific requirement of our clients.
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