Facility management is comprised of management methods, techniques of building management, and infrastructure management of an organization in order to ensure the functionality of the built environment. Market Research Future (MRFR) has published a research report about the global facility management services market that estimates hike for this market at 12% CAGR (Compound Annual Growth Rate) during the forecast period between 2017 and 2023. By value, the market has been figured to be worth the US $ 61 bn by the end of the forecast period.

The most influential factor speeding up the facility management services market growth is the growing need for maintaining environmental as well as regulatory compliances. Second important factor supporting the market growth is the growing demand for single integrated facility management in order to balance the economies and financial regulations of the companies adopting automation in their facilities.

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Other factors leading to market growth are the advancement in cloud services adoption, emphasis by enterprises on the virtual workforce, and mobility management of the enterprises. Apart from cloud deployment, the increased development in the sustainable infrastructure and deployment of software as a service (SaaS) are also helping the market growth. However, there are factors that can impede market growth. One of the biggest factors is the lack of awareness regarding the facility management software services among small and medium enterprises (SMEs).

The global facility management services market has been segmented on the basis of deployment, industry vertical, organization size, services, and lastly, region. The deployment-based based segmentation segments this market into cloud deployment and on-premise deployment. Based on industry vertical, the market has been segmented into banking, energy & utilities, financial services and insurance (BFSI), government, healthcare, information technology (IT) & telecom, retail, and others.

As per organization size, the market has been segmented into SME and large enterprise. Regarding services, the market has been segmented into inventory management, maintenance management, operations management, project management, and others.

The regional segmentation of the global facility management services market segments the market into the regional markets known as North America, Asia Pacific, Europe, and rest of the world (RoW). North America is the topmost regional market due to technological advancements and early adoption of the technology. The USA is the greatest contributor to this regional market. Second responsible for market growth in this region include growing adoption of the software in enterprises, government and public sectors for the purpose of facility management. After the USA, Canada and Mexico are the most important country-specific markets in this region.

During the forecast period, the Asia Pacific region is expected to emerge as the fastest growing regional Facility Management (FM) Services Market due to the growing demand for automation in manufacturing and production facilities. Maximum market revenue in this region comes from China, India, and Japan, followed by the remaining countries of the Asia Pacific region.

Europe is expected to be a strong regional market due to technological advancement that is second only to North America. The most important country-specific markets in this region are France, Germany, and the UK.

The RoW segment covers Latin countries and the Middle East & Africa (MEA). In the MEA region, the market is limited due to poor countries, lack of awareness, lack of infrastructure, lack of advanced facilities, lack of skilled professionals, and lack of education. The market comprising of Latin countries is a smaller market because the availability of advanced technology is limited in this region. Argentina and Brazil are two strong economies that have the potential to rise as lucrative markets in the future.

Key Players

The key players in the global facility management services market include Accruent (USA), Apleona GmbH (Germany), Archibus Inc. (USA), Archidata Inc. (Canada), Autodesk Inc. (USA), CA Technologies (USA), eMaint (USA), Facility Management eXpress LLC. (USA), FacilityONE Technologies LLC (USA), FM: Systems Group, LLC. (USA), FSi Limited (England), Hippo CMMS. (Canada), Indus Systems Inc. (USA), International Business Machines Corp. (USA), iOFFICE Corp. (USA), JadeTrack Inc. (USA), Maintenance Connection Inc. (USA), MCS Solutions Pvt Ltd (India), MetricStream Inc. (USA), Nemetschek SE (Germany), OfficeSpace Software Inc. (USA), Oracle Corporation (USA), Planon Ltd. (Netherlands), SAP AC (Germany), and Trimble Inc. (USA).

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