The global facility management report is predicted to touch USD 60 billion at a 13% CAGR between 2016- 2022, as per the recent Market Research Future (MRFR) analysis. Facility management, simply put, is the process to manage multiple disciplines & operations of a company and ensure smooth functionality of the built environment. This helps to integrate technology, process, place, people, and also helps the company to lay emphasis on their core competencies, which include technology management, property management, project management, operation and maintenance, leadership strategy, finance and business, environmental sustainability, and communication. Inventory management, operation management, project management, maintenance management, and others are its different services. Owing to its alluring features and plentiful benefits, facility management has wide applications in government, IT and telecom, real estate, BFSI, education, manufacturing, healthcare, retail, and other sectors.
The business impact of SARS-CoV-2 has been felt across diverse sections of the information technology industry, albeit at different levels. Companies in the technology sector that supply services for verticals like travel, retail, hospitality, and entertainment have noted a dramatic decrease in sales, while the firms that provide services related to remote worker solutions have observed the opposite. Facility management report’s fate post pandemic has been relatively less grim compared to Education Services (ES) and Professional Services (PS) that are mostly dependent on components that are generally on-site. Novel coronavirus has facility management report to open new avenues for those firms that are on the lookout for solutions that are reliable, efficiently managed, scalable, and are subscription-based, to remain more focused on the core business. The Facility management report is bearing lesser impact of the COVID-19 outbreak compared to most other segments of the tech world.
In a nutshell, COVID-19 impact on managed services has been fruitful, with the market growth enhanced than before. Given the prevalent lockdown situation, managed services vendors are now investing heavily in remote-centric worker solutions, which can make the market highly resilient in the coming years, even as the world is currently rushing to achieve a COVID-19 breakthrough.
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Key players profiled in the global facility management market report include Trimble, Inc. (U.S.), Interserve Plc. (UK), Accruent, LLC (U.S.), CA Technologies, Inc. (U.S.), FM System, Inc. (U.S.), Aramark Corporation (U.S.), EMCOR group, Inc. (U.S.), SAP SE (Germany), Oracle Corporation (U.S.), and IBM Corporation (U.S.).
The MRFR provides an inclusive segmental analysis of the global facility management market based on services, deployment, and end users.
By services, the global facility management market is segmented into inventory management, operation management, project management, maintenance management, and others. Of these, the project management segment will lead the market over the forecast period for the increasing use of facility management for project management.
By deployment, the global facility management market is segmented into cloud and on-premises. Of these, cloud deployment will dominate the market over the forecast period for the rising preference for cloud deployment.
By end users, the global facility management market is segmented into government, IT and telecom, real estate, BFSI, education, manufacturing, healthcare, retail, and others.
Based on the region, the global facility management market report covers the growth opportunities and recent trends across North America, Europe, the Asia Pacific (APAC), & the Middle East and Africa (MEA). Of these, North America will have the lions share in the market over the forecast period. Increasing use of technology advances and its use in IT and manufacturing sectors, early adoption by well-established companies, growing support by the government in the region for funding in innovations for launching new facility solutions, and the pressing need for maintenance and support in the manufacturing sector is adding to the global facility management market growth in the region.
The global facility management market in the APAC region is predicted to grow at a fast pace over the forecast period. The surging need for effective facility management services, growth in the cloud technology market, the ongoing trend towards outsourcing facility management operations, and burgeoning demand for high real estate properties are adding to the global facility management market growth in the region. Besides, the rising emphasis on building asset and space management system is also adding market growth.
The global facility management market in Europe is predicted to have steady growth over the forecast period, while the MEA is predicted to have sound growth over the forecast period.
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Table of Contents:
1 Executive Summary
2 Scope of the Report
2.1 Market Definition
2.2 Scope of the Study
2.2.1 Research objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
3 Market Research Methodology
3.1 Research Process
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model
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