Facility Management Services Market - Trends and Business Opportunities till 2023
The various types of facilities around the world require services that can effectively manage the operations needed to be carried out. Market reports associated with the information and communication technology sector made accessible by Market Research Future along with published reports on other sectors have been lately put out along with a report on this industry. The market is projected to develop with an optimistic CAGR in the duration of the forecast period.
The renewed emphasis on regulatory compliances and increasing demand for single integrated facility management is boosting the development of the market in the forecast period. Massive advancement in the adoption of cloud services has encouraged several enterprises to focus on the mobility management and virtual workforce of the enterprises. Amplified growth in sustainable infrastructure and deployment of software as a service, apart from cloud deployment is also considerably influencing the growth of the market in the duration of the forecast period.
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The prominent players in the facility management services market are International Business Machines Corp. (U.S.), Oracle Corporation (U.S.), SAP AC (Germany), MCS Solutions Pvt Ltd (India), ARCHIBUS, Inc. (U.S.), Trimble Inc. (U.S.), CA Technologies (U.S.), Accruent (U.S.), Planon Ltd. (Netherlands), and FM: Systems Group, LLC. (U.S.).
Other players in the market include iOFFICE Corp. (U.S.), Maintenance Connection Inc. (U.S.), JadeTrack Inc. (U.S.), MetricStream Inc. (U.S.), Facility Management eXpress LLC. (U.S.), eMaint (U.S.), Hippo CMMS. (Canada), FSi Limited (England), Indus Systems, Inc. (U.S.), Autodesk, Inc. (U.S.), NEMETSCHEK SE (Germany), Archidata Inc. (Canada), OfficeSpace Software Inc. (U.S.), FacilityONE Technologies LLC (U.S.), and Apleona GmbH (Germany).
The market segmentation of the Facility Management Services Market is carried out on the basis of services, deployment, organization size, industry verticals, and region. On the basis of services, the market segmentation comprises of inventory management, project management, operations management, maintenance management, and others. The segmentation of the market on the basis of deployment consists of on-premise deployment and cloud deployment. By organization size, the market is segmented into large enterprise and SME. The industry vertical segment of the market comprises of retail, BFSI, healthcare, energy and utilities, IT & telecom, government, and others. On the basis of region, the market segmentation consists of Europe, North America, Asia Pacific, and the rest of the world.
Detailed Regional Analysis
The regional analysis of the market states that the facility management services market is projected to develop at a substantial rate through the forecast period owing to the need to uphold environmental and regulatory compliance. The geographical analysis of the market for facility management services covers regions such as Europe (including Russia), North America, Asia Pacific (including New Zealand and Australia), and the rest of the world (including Africa, the Middle East, and South America). Between these regions, the market was controlled by the North American region owing to technological progress in the region and initial adoption of the technology. The United States is observed to be the key contributor to the facility management market in the North American region. One of the key factors adding to the development of the facility management market in the North American region is the rising adoption of software in enterprises, government, and public sectors. Due to the initial adoption of this technology, North America has a big market share in the facility management services market. The increasing demand for automation in production and manufacturing facilities has led to the development of a noteworthy demand level for the facility management software in the Asia Pacific region, which is markedly the highest growth rate in the market, as the region is undergoing tremendous changes in the manufacturing and infrastructure sectors.
The market appeal and competitors’ dynamics are markedly enhanced by the strategies that are being utilized by market players. The market is greatly lifted by the developments that are occurring in the market. The successful integration of supply chain management is steadily increasing the growth of the market. The critical success factors in the market are easily achieved in the market leading to an elevated pace of development in the forecast period. The innovation in products and services of the markets will modify the progression of development of the market substantially. The long-run viability of the market is highly dependent on the techniques and the strategic roadmaps that are engaged by market players. The amplified level of emphasis on the variation of products is increasing the number of customers in the market substantially.
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