Industry Outlook and Trend Analysis
The Facilities Management Market was worth USD 23.34 billion in 2014 and is expected to reach approximately USD 61.47 billion by 2023, while registering itself at a compound annual growth rate (CAGR) of 11.36% during the forecast period. Facilities management services are broadly used to help business activities. Facilities management includes maintenance and management of business procedures for the viable and proficient conveyance of administrations over all applications, creating and managing a safe environment for industry. Besides, facilities management enables organizations to concentrate around their core services and provides support which causes them in improving the nature of services.
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Drivers and Restraints
Rising requirement for operational expenses is driving the development of the facilities management market around the world, just like the expanding adoption of outsourced benefits by industrial applications. Delivery systems, for example, total facilities management services and bundled facility management services are implemented by organizations to decrease costs and keep up unified control through a complete administration cycle. Rising usage of facilities management services is anticipated to develop significantly because of expanding attention to facilities management services, and expanding cross-border presence of facility management service providers. Hence, cross-border mergers and acquisitions alongside expanded client network and regional scope can be predicted as critical market opportunities for facilities management service providers. Financial pressure on organizations is expanding because of activity and maintenance costs. Moreover, organizations strive to accomplish decrease of capital use and expanded investments in core services which enable drive to interest for facilities management services.
Market Segmentation
The Facilities Management Market is segmented on the basis of services and industry. Based on service type the market is segmented into the market is further divided into the hard services and soft services. The scope of soft services covers following services – cleaning and pest control, laundry, catering, waste management, security, and others. On the basis of industry, the market is segmented into corporate, government and public, healthcare, manufacturing, residential and educational, and retail and commercial and others.
Regional Outlook and Trend Analysis
North America is the biggest contributor of the facility management market on the basis of size, as it is a technologically propelled area. The leading nations adding to the market in this locale are the US and Canada. Ventures in the government and public administration sectors are additionally implementing facility management solutions, and the vertical would give high chances to the development of the market amid the conjecture time frame.
Competitive Insights
The leading players in the market are Knight Facilities Management, Bellrock Property and Facilities Management, Broadspectrum Australia Pty Ltd, Sodexo Inc, Quess Corp, ISS World Services A/S, Apleona HSG GmbH and Spotless Group Holdings. The major players in the market are profiled in detail in view of qualities, for example, company portfolio, business strategies, financial overview, recent developments, and share of the overall industry.
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The Facilities Management Market is segmented as follows-
By Services:
Hard Services
Soft Services
By Industry:
Government and Public Sector
Manufacturing
Retail and Commercial
Corporate
Health Care
Residential and Education Institutions
Others
By Region
North America
U.S
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
Japan
China
Australia
India
South Korea
Rest of Asia Pacific
Rest of the World
Brazil
South Africa
Saudi Arabia
United Arab Emirates
Others
Some of the key questions answered by the report are:
What was the market size in 2012 and forecast from 2013 to 2022?
What will be the industry market growth from 2013 to 2022?
What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
What are the major segments leading the market growth and why?
Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?
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