ASMACS Group, CBRE, SIS Group Limited, Knight Frank, Compass Group PLC are some of the major key players.
Facility Management Services Market Value and CAGR
Facility management services refer to the management and maintenance of buildings, infrastructure, and other facilities. These services include a wide range of activities such as cleaning, maintenance, security, landscaping, and energy management. The facility management services market is driven by the increasing demand for efficient and cost-effective management of facilities, as well as the growing trend of outsourcing non-core activities.
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The global facility management services market is expected to grow at a significant rate in the coming years, driven by the increasing adoption of smart building technologies and the growing need for sustainable facilities. The market is also expected to benefit from the increasing focus on workplace safety and security, as well as the growing trend of outsourcing facility management services to third-party providers
Facility Management Services Market Growth Drivers and Risks
Some of the key drivers that have previously been identified include:
Rising demand for facility management services due to their cost-effectiveness and efficiency.
Raising organizational awareness of the benefits of facility management services in terms of increasing productivity and lowering operational costs.
Technological advances in facility management software and tools that assist service providers in providing better services.
Potential Facility Management Services Market Restraints:
Expensive initial investment: Facility management services necessitate a substantial initial investment in infrastructure, equipment, and skilled labor. This can be a significant barrier to entry for new market participants.
Lack of standardization: There is a lack of standardization in the facility management industry, which can lead to inconsistencies in service quality and pricing. Customers may find it difficult to compare services and select the best provider as a result of this.
Lack of awareness: Because many businesses are unaware of the benefits of facility management services, demand for these services may be limited.
Facility Management Services Market Keyplayers
By Company
Facility Management Services Market Segmentations
BY TYPE
BY SERVICES
BY APPLICATION
Table of content
1 EXECUTIVE SUMMARY 21
2 MARKET INTRODUCTION 23
2.1 DEFINITION 23
2.2 SCOPE OF THE STUDY 23
2.3 RESEARCH OBJECTIVE 23
2.4 MARKET STRUCTURE 24
3 RESEARCH METHODOLOGY 25
4 MARKET DYNAMICS 32
4.1 INTRODUCTION 32
4.2 DRIVERS 33
4.2.1 RAPIDLY GROWING TOURISM AND HOSPITALITY SECTORS 33
4.2.2 NECESSITY TO COMPLY WITH ENVIRONMENTAL AND REGULATORY NORMS 33
4.2.3 RISING DEMAND FOR VALUE-ADDED SERVICES 33
4.3 RESTRAINT 34
4.3.1 SLOW ADOPTION OF OUTSOURCED FACILITIES MANAGEMENT SERVICES 34
4.3.2 INTEGRATION OF FACILITY MANAGEMENT WITH LEGACY ERP SYSTEMS 35
4.4 OPPORTUNITY 36
4.4.1 GROWING INVESTMENTS IN THE CONSTRUCTION SECTOR 36
4.4.2 SUPPORTIVE GOVERNMENT INITIATIVES FOR THE DEVELOPMENT OF SMART CITIES AND BUSINESS HUBS 37
4.4.3 INCLINATION TOWARDS VIRTUAL WORKPLACE AND DEMAND FOR PERSONALIZED SERVICES 37
4.5 IMPACT OF COVID-19 38
4.5.1 IMPACT ON FACILITY MANAGEMENT SERVICES PROVIDERS 38
4.5.2 IMPACT ON END-USE VERTICALS 38
4.5.3 IMPACT ON Y-O-Y GROWTH 38
5 MARKET FACTOR ANALYSIS 39
5.1 VALUE/SUPPLY CHAIN ANALYSIS 39
5.1.1 SUPPLIER 39
5.1.2 FACILITY MANAGEMENT SERVICE PROVIDER 39
5.1.3 END USER 40
5.2 PORTER’S FIVE FORCES MODEL 40
5.2.1 THREAT OF NEW ENTRANTS 41
5.2.2 BARGAINING POWER OF SUPPLIERS 41
5.2.3 THREAT OF SUBSTITUTES 41
5.2.4 BARGAINING POWER OF BUYERS 41
5.2.5 INTENSITY OF RIVALRY 42
6 GLOBAL FACILITY MANAGEMENT SERVICES MARKET, BY TYPE 43
6.1 OVERVIEW 43
6.1.1 GLOBAL FACILITY MANAGEMENT SERVICES MARKET, BY TYPE, 2019–2030 (USD BILLION) 44
6.2 SOFT SERVICES 45
6.2.1 GLOBAL FACILITY MANAGEMENT SERVICES MARKET, BY SOFT SERVICES, 2019–2030 (USD BILLION) 46
6.2.2 SMART FACILITY MANAGEMENT SOLUTION 46
6.2.3 NON-SMART FACILITY MANAGEMENT SOLUTION 46
6.3 HARD SERVICES 47
6.3.1 GLOBAL FACILITY MANAGEMENT SERVICES MARKET, BY HARD SERVICES, 2019–2030 (USD BILLION) 48
6.3.2 SMART FACILITY MANAGEMENT SOLUTION 48
6.3.3 NON-SMART FACILITY MANAGEMENT SOLUTION 48
6.3.4 GLOBAL FACILITY MANAGEMENT SERVICES MARKET, BY SERVICES, 2019–2030 (USD BILLION) 49
7 GLOBAL FACILITY MANAGEMENT SERVICES MARKET, BY SERVICES 50
7.1 OVERVIEW 50
7.1.1 GLOBAL FACILITY MANAGEMENT SERVICES MARKET, BY SERVICES, 2019–2030 (USD BILLION) 52
7.2 SOFT SERVICES 52
7.2.1 GLOBAL FACILITY MANAGEMENT SERVICES MARKET, BY SOFT SERVICES, 2019–2030 (USD BILLION) 53
7.2.2 CLEANING 54
7.2.3 SECURITY 54
7.2.4 CATERING 54
7.2.5 LAUNDRY 54
7.2.6 LANDSCAPING 54
7.2.7 OTHERS 54
7.3 HARD SERVICES 55
7.3.1 GLOBAL FACILITY MANAGEMENT SERVICES MARKET, BY HARD SERVICES, 2019–2030 (USD BILLION) 56
7.3.2 ELECTRICAL 56
7.3.3 HVAC 56
7.3.4 MECHANICAL 57
7.3.5 CIVIL 57
7.3.6 OTHERS 57
Toc Continue………………………..
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Mar 23, 2023
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