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Facility Management Market Trends

ID: MRFR//1670-HCR | 100 Pages | Author: Ankit Gupta| July 2024

Facility Management Market Overview

The Facility Management Market is projected to grow from USD 52.01 billion in 2024 to USD 102.8 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 8.89% during the forecast period (2024 - 2032). Additionally, the market size for Facility Management was valued at USD 47.2 billion in 2023.

 Increased demand for cloud-based facility management solutions, rising industrialization in developing countries, and adoption of advanced technologies are key market drivers enhancing market growth.

Figure 1: Facility Management Market Size, 2023-2032 (USD Billion)

Facility Management Market Overview 2024

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Facility Management Market Trends

Growing demand for cloud-based facility management is driving the market growth.

Market CAGR for facility management is being driven by the growing demand for cloud-based facility management. A reliable means of hosting facility management is provided by cloud-based solutions. It helps to minimize costs of the organizations because it improves the security and collaboration within the teams and subsidiaries available in several locations. The cloud-based helps secure critical data hosting, rapid disaster recovery, and enhanced scalability and security. The backups are stored on a private or shared cloud host platform, allowing the organization to quickly recover the critical server data.

The rise in cloud-based solutions adoption and change in the organization and style of work culture fuel the growth of the facility management market globally. The development of innovative products and different strategies adopted by the key vendors positively affects the growth of the market. Governments of other countries essentially invest in the construction and infrastructural section. The three components, including the new building construction, renovation of the existing buildings, and civil engineering, are dependable for infrastructural growth. The inclination for renewing existing buildings represents the large extent of the services linked to this industry, performances, and growth of the market. Hence, the governmental bodies of the developing countries are collaborating with multiple private organizations to keep the infrastructure clean and green, which is innovative building construction. The real estate investment has increased the development of intelligent buildings, which network connecting sensors, lighting, doors, windows, CCTV cameras, and HVAC systems. It has become an important preventive maintenance activity owing to the advancement in these intelligent buildings.

The spread of the IT and Telecom sectors throughout the globe is anticipated to boost global facility management market growth. Information technology is the most popular and fast-development sections. With the increase in interest among governmental bodies, individuals, and firms, the IT section is experiencing constant advancement. Dozen of facility management technology solutions like advanced software and the mobile applications have been developed in the past times. Space-right strategic space planning tools could assist organizations in immediately adjusting the office spaces to plan for specific scenarios or safety. Thus, driving the Facility Management market revenue.

Facility Management Market Segment Insights

Facility Management Service Type Insights

The global Facility Management market segmentation, based on service type, includes Hard Service, Soft Service, and Other Services. The hard service segment dominates the market, accounting for the largest market revenue because of the extended successive growth of the global infrastructure industry. Plumbing and drainage, cleaning, building fabric maintenance, and other intricate services are present in this industry that are connected to the physical structure of the building. The rapid growth activities of building and construction resulted in the rise of urbanization across the globe. On the other hand, soft service will be the fastest growing throughout the forecast period. Furthermore, the increase in investment in waste management, wastewater management, energy management, and other green energy management industries is fueling the market.

Figure 2: Facility Management Market by Service Type, 2022 & 2032 (USD Billion)

Global Facility Management Market by Service Type, 2022 & 2032

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Facility Management Industry Vertical Insights

The global Facility Management market segmentation, based on industry vertical, includes Healthcare, Government, Education, Military & Defense, Real Estate, and Others. The real estate segment dominates the market owing to the ongoing growth in the construction and development industry in different countries. Considerable growth is anticipated in the real estate industry regarding market share and others, including businesses like IT and telecommunications and BSFI. The healthcare part is foreseen to experience significant growth throughout the forecast period with the increased adoption of healthcare facilities management services for precautionary measures. Furthermore, the government sector is also expected to experience progressive market growth.

Facility Management Regional Insights

By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American, Facility Management market dominates due to the presence of technologically and economically advanced countries, the adoption of emerging and new technologies, and the firm financial condition of the market players. The presence of developed countries and well-established infrastructure generates large requirements for facility management solutions.

Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.



Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

The Asia-Pacific Facility Management Market accounts for the second-largest market revenue due to the increase in the number of companies providing these services in developing countries, and the market is influenced by the adoption of novel technologies and business strategies. Moreover, China’s Facility Management market held the largest market share, and the Indian Facility Management market was the rapid-growing market in the Asia-Pacific region.

The Europe Facility Management market is expected to grow at the fastest CAGR from 2023 to 2032. This is due to the rapid adoption of advanced technologies and pertaining improved financial conditions in this region. Further, the German Facility Management market held the largest market share, and the UK Facility Management market was the rapid-growing market in the European region.

Facility Management Key Market Players & Competitive Insights

Leading market participants are investing heavily in research and development in order to spread their product lines, which will help the Facility Management market grow even more. Market participants are also undertaking a various strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. The Facility Management industry must offer low-cost items to expand and survive in the more competitive and the rising market climate.

Manufacturing locally to minimize operational costs is one of the key business tactics manufacturers use in the global Facility Management industry to benefit clients and increase the market sector. In recent years, the Facility Management industry has offered some of the most significant benefits to the technology. Major players in the Facility Management market, including Disrupt-X, Imdaad, CBRE Group Inc., Jones Lang LaSalle Incorporated, Cushman & Wakefield PLC, Emeric Facility Services, SMI Facility Services, Broadcom Inc., Farnet Service LLC, Compass Group, Tenon Group, and others, are trying to increase market requirement by investing in research and development operations.

Farnek Service LLC is a Dubai-based company, a Swiss-owned independent leading provider of green and smart facility management to different industries and businesses throughout the UAE since 1980. The company offers aviation, banking, hospitality, shopping mall, retail, residential commercial, telecoms, infrastructure, government, education, entertainment, and leisure services. In February 2022, a new smart FM technology solutions company was created by Farnek. The HITEK solution 4.0, developed in-house, was launched in Q3 previous year and connects people, spaces, and assets from different remote sites through intelligent analytical platforms for security, cleaning, and maintenance that can be managed smartly from the center and monitoring by leveraging the IoT, cloud, machine learning, building management systems, and AI-based technologies.

Broadcom Inc. is an American multinational designer, manufacturer, developer, and global supplier of a large range of semiconductor and infrastructure software products. The company's product provides networking, data center, broadband, software, storage, wireless, and industrial markets. In February 2022, the company announced the availability of the industry's most secure and highest-density Gen 7 64G Fiber Channel switch platform. The Brocade G730 Switch was also announced, a 128-port core switching platform for the autonomous SAN. Furthermore, the industry's first double-density 64G Fiber Channel optical transceiver was announced by the company; this channel extends the port density for the Brocade G730 and G720 switches.

Key Companies in the Facility Management market include

  • Disrupt-X

  • Imdaad

  • CBRE Group Inc.

  • Jones Lang LaSalle Incorporated

  • Cushman & Wakefield PLC

  • Emeric Facility Services

  • SMI Facility Services

  • Broadcom Inc.

  • Farnet Service LLC

  • Compass Group

  • Tenon Group

Facility Management Industry Developments

February 2022: A brand campaign was launched, 'Let's Create,' to accelerate developments with the clients and the partners. This new development invites partners and clients to create with IBM by utilizing their AI and cloud technology and consulting expertise.

September 2021: A Dubai-based Iot development company, Disrupt-X, announced a collaboration with Imdaad, a Dubai-based group of companies, providing integrated, sustainable facilities management services that will enhance the efficiencies of physical assets. This collaboration will develop IoT technology to improve FM services in the UAE.

June 2022: A group of companies in Dubai named Imdaad, offering sustainable and integrated facilities management services that will enhance the operational efficiencies of physical assets, has officially developed a new joint venture with LMD, which is a prominent real estate provider in Egypt. This will offer a complete range of quality facility management solutions throughout Egypt.

Facility Management Market Segmentation

Facility Management Service Type Outlook

  • Hard Service

  • Soft Service

  • Other Service

Facility Management Industry Vertical Outlook

  • Healthcare

  • Government

  • Education

  • Military & Defense

  • Real Estate

  • Others

Facility Management Regional Outlook

  • North America

  • US

  • Canada

  • Europe

  • Germany

  • France

  • UK

  • Italy

  • Spain

  • Rest of Europe

  • Asia-Pacific

    • China

    • Japan

    • India

    • Australia

    • South Korea

    • Australia

    • Rest of Asia-Pacific

  • Rest of the World

    • Middle East

    • Africa

    • Latin America

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