Publishing: March 2022 | Report Code: PE12146 | Available Format: PDF
Increasing urbanization and industrialization across the globe is propelling the demand for facility management services. Furthermore, the growing number of corporate offices, shopping malls, and retail stores has led to an increase in the demand for these services. Additionally, the development of special economic zones (SEZs) and mega food parks is likely to aid the growth of the global facility management industry during the forecast period (2021–2030).
The facility management market is categorized into soft services, hard services, and others, on the basis of type. Of these, the hard services category is likely to hold a significant market share during the forecast period, due to the rise in infrastructural activities, mainly in developing countries like India and China. This increase in infrastructural activities has pushed the demand for hard services, such as heating, ventilation, and air conditioning (HVAC) and mechanical & electrical maintenance.
The facility management market, on the basis of end user, is categorized as commercial, industrial, and residential. Of these, the commercial category held a substantial share in the market during the historical period (2014–2020), owing to the high demand for these services in shopping malls, offices, and airports among other commercial application areas. Furthermore, the development of sustainable/green buildings is boosting the market growth in this category.
Geographically, the Asia-Pacific (APAC) region is expected to be the fastest-growing market for facility management services in the near future. This is due to the rapid infrastructural development in regional countries in order to cater to the growing population. Furthermore, several international companies are opening their offices, research & development facilities, and service centers in the region in view of the huge growth potential here. This, in turn, is helping the facility management market advance in this region.
The growing demand for these services in end-use industries, such as hospitality, tourism, and construction, is driving the facility management market, globally. Furthermore, government support and initiatives toward the development of smart cities and business hubs would require facility management services to cater to the population needs, thus propelling the demand for facility management services. Economic development, propelled by urbanization, is the key factor for the growth of the market, as infrastructure development in metropolitan cities would require facility management services.
The expensive nature of facility management outsourcing can hamper the growth of the market to some extent. Small- and medium-sized companies often find it difficult to afford these services due to limited capital, which, in turn, affects the demand for these services and hinders the market growth. Besides, the lack of awareness on such facilities, slow adoption, and reliance on the traditional approach of facility management restrain the growth of the market to a certain extent.
Some of the companies operating in the global facility management market are Compass Group, Imdaad LLC, Emrill Services LLC, EMCOR Group, Tenon FM, Jones Lang LaSalle, and G4S plc.
The study provides the historical as well the forecast size of the facility management market.
The facility management market report offers comprehensive market segmentation analysis along with market estimation for the period 2014–2030.
Based on Type
Based on End User
Based on Service
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