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Facility Management Market to Reach USD 1,856.44 Billion by 2029 | Increase in Infrastructural Capitalization to Foster Market

·6-min read
Fortune Business Insights
Fortune Business Insights

Companies Profiled in Facility Management Market are Sodexo (France), CBRE Group, Inc. (U.S.), ISS A/S (Denmark), Compass Group (U.K.), Aramark (U.S.), Jones Lang LaSalle Incorporated (U.S.), Cushman & Wakefield plc. (U.S.), Tenon Group (India), Johnson Controls International plc. (Ireland), Dussmann Group (Germany), Serco Group PLC (U.K.), Mitie Group Plc (U.K.), G4S Plc (U.K.), Veolia Environment (France)

Pune, India, May 23, 2022 (GLOBE NEWSWIRE) -- The global facility management market size was valued at USD 1,239.99 billion in 2021. The market is projected to grow from USD 1,260.36 billion in 2022 to USD 1,856.44 billion by 2029, exhibiting a CAGR of 5.7% during the forecast period. This information is presented by Fortune Business insights, in its report titled, “Facility Management Market, 2022-2029.”

COVID-19 Impacts:

Upsurge in Use of Facility Management Services by Governments to Boost Market During COVID-19 Pandemic

The COVID-19 pandemic led to a financial confusion due to succeeding lockdowns. Even well-administered organizations faced the damage caused by COVID-19 outbreak. It has also influenced the facility management industry nevertheless. Facility managers have struggled since the pandemic began to examine novel choices for remote work or publically remote workplaces. On the contrary, the growing consciousness of cleanliness, administration maintenance, and security is predicted to fuel the market during the impending future.

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List of Key Players Mentioned in the Report:

  • Sodexo (France)

  • CBRE Group, Inc. (U.S.)

  • ISS A/S (Denmark)

  • Compass Group (U.K.)

  • Aramark (U.S.)

  • Jones Lang LaSalle Incorporated (U.S.)

  • Cushman & Wakefield plc. (U.S.)

  • Tenon Group (India)

  • Johnson Controls International plc. (Ireland)

  • Dussmann Group (Germany)

  • Serco Group PLC (U.K.)

  • Mitie Group Plc (U.K.)

  • G4S Plc (U.K.)

  • Veolia Environment (France)

Segments:

Hard Services Segment to Hold Prime Market Share Assisted by Development in Infrastructure Sector

By services type, the market is segmented into hard services, soft services, and other services. The hard services category is expected to hold prime market share owing to the continued subsequent growth of the infrastructure industry globally.
Real Estate Segment to Lead Market during the Forecast Period

Based on Industry, the market is segmented into healthcare, government, education, military & defense, real estate, and others. The real estate sector is predicted to be fueled across the world over the forecast period. It is accredited to the continued extension in the construction & developments industry in numerous nations.
The report's scope contains five prime regions, North America, Europe, Asia Pacific, the Middle East & Africa, and South America.

Report Coverage:

The report presents a systematic study of the market segments and thorough analysis of the market overview. A thoughtful evaluation of the current market trends as well as the future opportunities is offered in the report. Moreover, it presents an exhaustive analysis of the regional insights and how they help with the facility management market growth. The COVID-19 impacts have been discussed in the report to assist investors and business owners with a better understanding of the possible threats present in the market. The report further discusses the key players and their prominent strategies to stay in the dominating position.

Browse Summary of this Research Report:

https://www.fortunebusinessinsights.com/industry-reports/facility-management-market-101658

Drivers and Restraints:

Increase in Infrastructural Capitalization to Foster Market

Government organizations across various economies are majorly capitalizing in the construction and infrastructural industry. The infrastructural growth is predominantly reliant on three components involving restoration of prevailing buildings, new building construction, and civil engineering. Nevertheless, in the global scenario, the industry is well-placed to take benefit of infrastructural investments. The market propensity with renovation of existing buildings is representing most of the facility management services, presentations, and market growth.

However, various huge facilities management service providers with heavy initial investment in facility services barely face problems concerning restricted utilization of technology; this is owing to the projects signed for a long time period.

Industrial Robots Market: Report Scope & Segmentation:

Report Attribute

Details

Market size value in 2021

USD 1239.99 Billion

Revenue forecast in 2029

USD 1856.44 Billion

Growth Rate

CAGR of almost 5.7% 2022-2029

Base Year

2021

Historic Years

2018 - 2020

Forecast Years

2022 - 2029

Segments Covered

By Service, Industry Vertical, By Region

Forecast Units

Value (USD Billion), and Volume (Units)

Quantitative Units

Revenue in USD million/billion and CAGR from 2022 to 2029

Regions Covered

North America, Europe, Asia Pacific, Middle East & Africa, Latin America and Rest of World

Countries Covered

Unites States, Canada, Mexico, Unites Kingdom, Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others

Number of Companies Covered

Sodexo (France), CBRE Group, Inc. (U.S.), ISS A/S (Denmark), Compass Group (U.K.), Aramark (U.S.), Jones Lang LaSalle Incorporated (U.S.), Cushman & Wakefield plc. (U.S.), Tenon Group (India), Johnson Controls International plc. (Ireland), Dussmann Group (Germany), Serco Group PLC (U.K.), Mitie Group Plc (U.K.), G4S Plc (U.K.), Veolia Environment (France)

Facility Management Market Coverage

Market growth drivers, restraints, opportunities, Porter's five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.

Customization Scope

Avail customized purchase options to meet your exact research needs.


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Regional Insights:

Asia Pacific to Dominate Backed by Implementation of Advanced Technologies

The Asia Pacific market is projected to grow sturdily, owing to the implementation of novel technologies such as IoT, AI, robot adoption, and others. Asia Pacific held the largest facility management market share in 2021.

Similarly, the market in Europe is estimated to rise substantially in the coming years. It is on account of the adoption of precautionary guidelines by governments in numerous countries in the region.

Competitive Landscape:

Collaborations among Companies to Reinforce their Brand Values in Global Market

Important players in the market are incessantly rooting for proficient tactics to endorse their products and inaugurate their positions in the market. One such stratagem is to launch new products by forming a coalition with other companies to extend their reach to end-users.

Key Industry Development:

June 2020: Sodexo collaborated with Bureau Veritas to present a sanitized identification label for Sodexo service that provides quality guarantee to consumers. This collaboration comprises on-site facility management services and catering services. The label was presented in the U.K., France, the U.S., Canada and then slowly rolled out in other nations across the world.

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Major Table of Contents:

  • Introduction

    • Definition, By Segment

    • Research Approach

    • Sources

  • Executive Summary

  • Market Dynamics

    • Macro and Micro Economic Indicators

    • Drivers, Restraints, Opportunities and Trends

    • Impact of COVID-19

      • Short-term Impact

      • Long-term Impact

  • Competition Landscape

    • Business Strategies Adopted by Key Players

    • Consolidated SWOT Analysis of Key Players

    • Global Facility Management Share Analysis, 2021

  • Global Facility Management Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2018-2029

    • By Service Type (USD Bn)

      • Hard Services

      • Soft Services

      • Other Services

    • By Industry Vertical (USD Bn)

      • Healthcare

      • Government

      • Education

      • Military & Defense

      • Real Estate

      • Others (IT & Telecommunication, BFSI, etc.)

    • By Region (USD Bn)

      • North America

      • Europe

      • Asia Pacific

      • Middle East & Africa

      • Latin America

  • North America Facility Management Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2018-2029

    • By Service Type (USD Bn)

      • Hard Services

      • Soft Services

      • Other Services

    • By Industry Vertical (USD Bn)

      • Healthcare

      • Government

      • Education

      • Military & Defense

      • Real Estate

      • Others (IT & Telecommunication, BFSI, etc.)

    • By Country (USD Bn)

      • U.S.

        • By Industry Vertical (USD Bn)

          • Healthcare

          • Government

          • Education

          • Military & Defense

          • Real Estate

          • Others (IT & Telecommunication, BFSI, etc.)

      • Canada

        • By Industry Vertical (USD Bn)

          • Healthcare

          • Government

          • Education

          • Military & Defense

          • Real Estate

          • Others (IT & Telecommunication, BFSI, etc.)

TOC Continued...!

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