The global facility management market is growing at a considerable CAGR of 13.5% during the forecast period. The major factor that is augmenting the growth of the global facility management is an increase in demand for facility management solutions integrated with intelligent software. Moreover, growing changes in the structure of an organization along with work management and growing adoption of the Internet of Things (IoT) are also estimated to be the other important factors that are contributing significantly towards the growth of the market. However, lack of awareness regarding facility management solution and services is major factors constraints that are hindering the growth of the global facility management market across the globe.
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However, growing technology advancement by companies and increasing outsourcing of facility management operations are the key factors that are creating opportunities for the market. New product launches in the market are likely to drive the growth of the global facility management market. For instance, in January 2020, IBM Corp. had set forth artificial intelligence (AI) into its TRIRIGA solution in order to support the real estate and facility management professionals for the purpose of effectively utilizing the office space along with delivering a more engaging workplace experience. This would support the customers operating large real estate portfolios with insights to make the finest data-driven decisions regarding managing their workspace. Additionally, this improved visibility would supports organizations improve facility utilization to decrease space wastage that could conceivably give outcome in savings on real estate operating costs.
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- Market Coverage
- Market number available for – 2023-2029
- Base year- 2022
- Forecast period- 2023-2029
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Global Facility Management Market Report Segment
By Component
- Solutions
- Service
By Organization Size
- Large Enterprises
- Small and Medium-sized Enterprises (SMEs)
By Vertical
- BFSI
- IT and telecom
- Healthcare
- Education
- Retail
- Others
Global Facility Management Market Report Segment by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East & Africa
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global facility management market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where in the market.
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