Facility management (FM) Market Is Estimated To Expand At a Healthy CAGR in the Upcoming Forecast 2

The Facility management (FM) Market - Global Market Share, Trends, Analysis and Forecasts, 2020-2030 provides insights on key developments, sales network, business strategies, research & development activities, major production and consumption, supply chain analysis, competitive landscape, and market composition analysis.

Facility management focuses on techniques and methods used for infrastructure management, building management, and utility management in order to harmonize the data flow and operation in an organization. Facility management helps in standardizing services and streamlining processes for an organization. Increasing spending by private and government authorities to streamline work flow and manage resources are expected to play major role in shaping the market over coming years.

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The number of institutional and corporate buildings has witnessed a significant increase over last decade. This has created a demand for advanced solutions in order to utilize and manage resources and assets optimally and streamline support functions across the organization. IT based solutions and services has been adopted on a global scale to assist the facility managers in managing resources and information associated with technology, administration and infrastructure of a building. The primary factor driving the market is anticipated to be reduced operational cost owing to optimum utilization of resources. The spending on development of infrastructures is anticipated to grow in coming years, which is anticipated to offer prominent opportunities to the solution and services providers during the forecast period.

Emergence of Anything-as-a-Service along with rising penetration of cloud based solutions to drive the market

The facility management market is segmented based on type, solution, deployment, service type, organization size, and geography. Based on deployment, the market is segmented into on premise and cloud. Increasing penetration of cloud based solutions and perks over on-premise solutions has resulted in rising deployment of cloud based facility management solutions. Consequently, the cloud based facility management solutions and services are anticipated to grow at prominent rate during the forecast period. The on-premise solutions and services has contributed a dominating share to the global market. However, with high flexibility of data movement and access, and low hardware requirements, the cloud based solutions and services are anticipated to be the dominating market segment by 2030.

Increasing number of SMEs to drive the market during forecast period

On the basis of organization size, the global facility management market is segmented into small and medium enterprises, and large enterprises. Among these, the large enterprises dominated the facility management market across the globe. Large organizations deals with huge data associated with technology and operations, along with the assets to manage the same, and requires an optimized model to organize and manage the data. Consequently, facility management has become a core component for optimum management of data generated across the large enterprises. The increasing number in small and medium enterprise across the globe is anticipated to be the major factor driving market growth. Rising awareness regarding the facility management solutions and services across the growing small and medium enterprises is anticipated to generate demand for facility management solutions and services across the SMEs over the forecast period.

Based on geography, the market is segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. North America and Europe dominated the market owing to the presence of many global service providers across these geographies. High demand for service integration and value-added services are anticipated to be the prime factors governing market growth in North America and Europe. Asia Pacific is anticipated to dominate the market demand during the forecast period owing to growing awareness, expanding SMEs, increasing presence of global players, and availability of comprehensive solutions.

Major players dominating the global market include Accruent, Apleona GmbH, ARCHIBUS, Inc., Archidata Inc., eMaint by Fluke Corporation, Facilityone Technologies LLC, FM:Systems, IBM, Indus Systems & Services Pvt. Ltd., iOFFICE, OfficeSpace Software Inc., Oracle, Planon, SAP, and Trimble Inc.

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