Facility Management Services Market Report and Forecast 2023-2028

According to the report the global facility management services market reached a value of USD 1372.12 billion in 2022. Aided by the rapid urbanisation, technological innovations, and heightened emphasis on sustainable building practices, the market is projected to further grow at a CAGR of 4.87% between 2023 and 2028 to reach a value of USD 1916.47 billion by 2028.

Facility management services encompass an interdisciplinary field dedicated to the coordination of space, infrastructure, people, and organisations. Often associated with the management of large commercial properties and physical infrastructure, the services span across areas like cleaning, security, HVAC maintenance, infrastructure planning, and space utilisation. As organisations expand and space becomes a premium, efficient and effective facility management becomes paramount.

One of the primary drivers in the global facility management services market growth is the surge in the real estate sector. With commercial spaces expanding and companies growing more complex, there is an increasing demand for efficient space management and infrastructure services. This, in turn, necessitates expert facility management to ensure smooth day-to-day operations, making it an integral component of the modern corporate ecosystem.

Moreover, the advancing technological landscape has significantly impacted the domain. The integration of smart building technologies and IoT in facility management has enhanced operational efficiencies and offered a more data-driven approach to infrastructure maintenance and management. From predictive maintenance to real-time monitoring of utilities, technology has revolutionised how facilities are managed and monitored.

The increasing focus on sustainability and eco-friendly practices is another driving force in the facility management services market development. Facility management services now go beyond mere maintenance. They play a crucial role in reducing an organisation's carbon footprint, managing waste efficiently, and ensuring that infrastructures adhere to the best environmental practices. The ongoing shift towards green buildings and LEED certifications further underscores the importance of sustainable facility management.

Furthermore, in the backdrop of a global shift towards remote working and flexible office spaces, facility management services have adapted to cater to these changing dynamics. The facility management services now offer solutions tailored for co-working spaces, hybrid offices, and even remote infrastructure management, highlighting its versatility and importance in today's evolving work culture.

Healthcare and educational sectors also present considerable avenues for facility management services market expansion. Hospitals, universities, and schools require meticulous facility management to ensure safety, compliance, and efficiency, thereby amplifying the demand within these sectors.

Market Segmentation

The market can be divided based on service, type, end use, and region.

Market Breakup by Service

Soft Services

• Cleaning
• Laundry
• Security
• Others

Hard Services

• Electrical
• Mechanical
• Civil
• Others

Management Services

• Contract Management
• Energy and Utilities
• Maintenance Planning and Control
• Others
• Others

Market Breakup by Type

• In-House
• Outsourced

Market Breakup by End Use

• Commercial
• Institutional
• Public/Infrastructure
• Industrial
• Others

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

The report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global facility management services companies. Some of the major key players explored in the report are as follows:

• CBRE, Inc.
• Compass Group PLC
• Jones Lang LaSalle (JLL)
• Dusters Total Solutions Services Private Limited
• BVG India Limited
• FMS pbc
• Facility Services Management, Inc.
• ISS A/S
• Cushman & Wakefield, Inc.
• Sodexo
• Mace Group I.C.S Limited
• Flexim Group SA
• Others

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*The publisher always strives to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.