Facility Management Market Revenue to close at USD 78451.37 million by 2027
Posted On June 23, 2021
The Global Facility Management Market is foreseen to grow at a remarkable CAGR of 10.5% during the year 2021-2027 as estimated by the report from Value Market Research wherein the market value is expected to grow to USD 78451.37 million by 2027. The rising demand for integrated facility management by consumers globally and the increased adoption of disruptive technologies like augmented reality, robots, and drones, etc in the facility management area are the primary market drivers responsible for the growth of the facility management market. Facility management solutions help in developing sustainable buildings and optimizable functions at a most effective level and that has created the demand for facility management which will further help in the growth of the facility management market. Strategies like new product launches and enhancement are expected to be the key market drivers of facility management market growth. Moreover, the growing trend of outsourcing facility management services is also assumed to boost the market growth of facility management.
Facility management is a kind of service or profession that includes multiple disciplines to ensure the functionality, comfort zone, effectiveness, safety, and efficiency of the built-in environment by integrating people, place, process, and technology to improve the people's life quality and productivity of the business. Space and infrastructure and people and organization are the two main areas covered by the facility management and are commonly known as hard facility management and soft facility management respectively. The facility management department in an organization is required to identify, evaluate, and manage the environment and safety-related issues.
The geographical and segmentation study covered in the report "Global Facility Management Market Report By Deployment Model (On-Premise, Cloud-Based), By Industry Vertical (BFSI, IT & Telecom, Public Sector, Healthcare, Manufacturing, Retail, Real Estate, Others) And By Regions - Industry Trends, Size, Share, Growth, Estimation And Forecast, 2021-2027" helps in understanding the upcoming trends of the market.
On the basis of deployment model the market is segmented into On-premise, Cloud-based. By industry vertical the facility management market is categorised as BFSI, IT & Telecom, Public Sector, Healthcare, Manufacturing, Retail, Real Estate, Others. Geographically the research study provides data on North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa regions. This section provides the estimates of market by segment, thus providing valuable data to take strategic decisions.
The Report Segments Global Facility Management Market -
By Deployment Model
By Industry Vertical
- IT & Telecom
- Public Sector
- Real Estate
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Players Profiled In the Report:
IBM, SAP, Oracle, Trimble, MRI Software, Accruent, ServiceChannel, Planon, FMX, Service Works Global, FM: Systems, Causeway Technologies, iOffice, Spacewell, FSI, Archibus, JadeTrack, Archidata, Apleona, UpKeep Maintenance Management, FacilityONE Technologies, Facilio, OfficeSpace Software, eMaint, eFACiLiTY, and Axxerion USA.
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