Facility Management Services Global Market Report 2024

The global facility management services market has grown rapidly in recent years. It will grow from $1543.98 billion in 2023 to $1759.68 billion in 2024 at a compound annual growth rate (CAGR) of 14.0%. Historical growth can be attributed to the globalization and expansion of businesses, evolving consumer expectations within commercial spaces, an increase in outsourcing facility services, a heightened focus on sustainability and energy efficiency, and the ongoing evolution of workplace dynamics.

The global facility management services market is expected to see rapid growth in the next few years. It will grow to $2863.73 billion in 2028 at a compound annual growth rate (CAGR) of 12.9%. The anticipated growth in the forecast period is driven by global expansion efforts and the standardization of facilities, the outsourcing of non-core functions, a growing need for data-driven decision-making, the movement towards sustainable and eco-friendly buildings, and the increasing popularity of remote work and adaptable spaces. Major trends expected during this period involve the adoption of predictive analytics, customization tailored for flexible workspaces, improvements in security and safety measures, a rising demand for sustainable practices, and a shift towards remote facility management strategies.

The surge in smart city initiatives is poised to drive the growth of the facility management services market in the foreseeable future. Governments worldwide are actively introducing numerous initiatives aimed at developing smart cities. These services play a crucial role in supporting smart cities by offering innovative Information and Communication Technologies (ICTs) to Urban Facility Management (UFM), opening avenues to optimize existing services and develop new ones based on the Internet of Things (IoT), Big Data, information sharing, and smart applications. For instance, in 2021, the Government of India allocated Rs 205,018 crore (US$ 28.31 billion) for the smart city mission, underscoring the significance of adopting the smart city paradigm in driving the growth of facility management services.

The increasing investment in infrastructure is expected to be a driving force behind the growth of the facility management services market. Infrastructure constitutes the fundamental systems and structures necessary for the functioning of societies, economies, or organizations. Facility management services play a pivotal role in infrastructure development by facilitating the establishment of new facilities, offering diverse opportunities, enhancing operational efficiency, realizing cost savings, prioritizing sustainability, and creating comfortable, safe, and enjoyable environments for end-users. For instance, in May 2023, the UK's general government infrastructure spending escalated by 15.2% in 2021, reaching $23.8 billion. Moreover, as per a report by USA Facts, spending on infrastructure and transportation in 2022 witnessed a 21% increase. Hence, the escalating investment in infrastructure is a key driver of the facility management services market.

Technological innovations are emerging as a significant trend shaping the landscape of facility management services. Companies are augmenting their service offerings by integrating cutting-edge technologies into their portfolios. Notably, advanced technologies like Building Information Modeling (BIM) are being employed by major businesses to deliver both hard and soft services, enabling the provision of enhanced and updated services. For example, in March 2022, Compass Group, a UK-based company specializing in facility management services, introduced Saarthi-FX, an entirely digital all-in-one solution. This innovative solution redefines workplace interactions in facility management, revolutionizing traditional workspaces through artificial intelligence and predictive modeling to enhance office asset management and provide employees with a more intelligent, safer, and efficient workspace. This integrated solution ensures round-the-clock customer support, amalgamates technology, human resources, and processes to deliver an exceptional employee experience, and transforms traditional workspaces into tech-savvy environments.

Major players in the facility management services market are concentrating on innovative products like the Instanta Facility Mobile App to drive revenue growth in their domain. The Instanta Facility Mobile App serves as a comprehensive tool designed to streamline operations and boost efficiency in property management teams. For instance, in July 2022, SysServe Solutions Ltd., a US-based company specializing in facility management services, unveiled the Instanta Facility Mobile App. This novel mobile application aims to enhance turnaround times, customer satisfaction, and service quality by enabling facility and asset managers to swiftly and effortlessly receive, respond to, and approve work requests on-the-go via their mobile devices, irrespective of time or location. This initiative aligns with the objective of providing clients with digital solutions that maximize resource utilization, improving operational effectiveness, simplifying facility management processes, and offering facility managers and their teams a user-friendly interface.

In April 2021, MRI Software, a prominent US-based provider of real estate software solutions, successfully acquired Trimble's real estate and workplace software businesses. The financial details of the acquisition were not disclosed. Through this strategic acquisition, MRI Software significantly bolstered its workplace management system, enhancing its suite with robust space scheduling, booking, and facilities management capabilities. These additions complement MRI's comprehensive lease accounting and administration solutions tailored for commercial real estate owners, operators, and occupiers. Trimble, a US-based technology company specializing in software, hardware, and service solutions, operated within the facility management services sector. The acquisition strategically reinforced MRI Software's position by integrating Trimble's expertise, further enriching its offerings and advancing its capabilities in providing holistic real estate management solutions to meet the diverse needs of the industry.

Major companies operating in the facility management services market report are Atalian Servest AMK Limited, BVG India Limited, CBRE Group Inc., EMCOR Group Inc., International Service System A/S World, Knight Facilities Management Limited, Quess Corporation Limited, Sodexo Inc., Spotless Group Holdings Limited, Tenon Group, QuickFMS, Nuvolo Technologies India Pvt. Ltd., InnoMaint Systems Pvt. Ltd., eFACiLiTY Systems Pvt. Ltd., FacilityONE Technologies LLC, Jones Lang LaSalle Incorporated, Cushman & Wakefield Plc, Compass Group Plc, Aramark Services Inc., Colliers International Group Inc., Apleona GmbH, Mitie Group PLC, G4S Secure Solutions (UK) Limited, ABM Industries Incorporated, Serco Group plc, UGL Limited, Vanderlande Industries B.V., Cofely GDF SUEZ, OCS Group, Vinci Facilities, Amey plc, Carillion plc, Johnson Controls International plc, and SIS Group Limited.

North America was the largest region in the facility management services market in 2023. The regions covered in the facility management services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the facility management services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Within the facility management services market, the primary service categories are hard services, soft services, and other specialized offerings. Hard services pertain to the integral structural components of a building that cannot be easily removed. These encompass solutions and services deployed through both cloud-based and on-premises platforms. Clients engaging in these services range from small and medium enterprises (SMEs) to large corporations, with diverse sectors such as healthcare, government entities, educational institutions, military and defense establishments, real estate enterprises, and others benefitting from these services.

This report provides facility management services market statistics, including facility management services industry global market size, regional shares, competitors with a facility management services market share, detailed facility management services market segments, market trends and opportunities, and any further data you may need to thrive in the facility management services industry. This facility management services market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The facility management services include the revenues earned by operations and security management, facility environment management, facility property management, contract management, and maintenance planning and control. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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