The need for ascertaining regulatory and environmental compliances is boosting the facility management services market 2020. The information & communication technology industry reports created by Market Research Future summarize opportunities for advancement. A 12% CAGR is estimated to promote earnings to USD 61 billion in the forecast period. The market research study goes into great detail on Facility Management market Size, market share, consumer dynamics, and market trends.
The mounting use for sole integrated facility management for harmonizing the financial regulations & economies of the firms is estimated to guide the facility management services industry. The significant changes being undertaken in the physical workplace are further estimated to advocate the facility management services market in the upcoming period. Moreover, the trend of sustainable infrastructure is anticipated further to encourage growth in the facility management services market size.
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Facility Management Services Market Segmental Analysis
By services, the market is segmented into project management, inventory management, maintenance management, operations management, and others.
On the basis of deployment, the market is segmented into cloud deployment and on-premise deployment.
On the basis of organization size, the market is segmented into SME and large enterprise.
On the basis of industry vertical, the market is segmented into BFSI, retail, IT & telecom, healthcare, government, energy and utilities, and others.
On the basis of region, the market is segmented into North America, Europe, Asia Pacific, and the rest of the world.
Facility Management Services Market Regional Analysis
The regional investigation of the facility management services market includes regions such as Europe, North America, Asia Pacific, and the rest of the world, such as Africa, the Middle East, and South America. The United States is the foremost provider to the facility management market in the North American region. The upsurge in implementation of software in government, enterprises, and public sectors is among the factors considerably boosting the development of the facility management market in North America.
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The technological advancements in the region and early use of the technology the North American regional market is controlling the global market. As the APAC region perceives remarkable changes especially in infrastructure and manufacturing sectors it is expected to grow at a speedy pace in the forecast period. The significant demand in the Asia Pacific region is due to upsurge in demand for automation in manufacturing & production facilities thus boosting the global market.
Facility Management Services Market Competitive Analysis
The support of the administration in countries around the world is estimated to have a significant impact on the progress of the market in the upcoming period. The revamping of distribution channels is also expected in the coming years with a particular focus on using robots for the logistic function on a larger scale than before. The market is in a state of flux due to the rapid and severe changes in the global economy. The fortification of the human resource is estimated to be the critical point being addressed in these times of uncertainty. The rebooting of manufacturing activities is another strategic aspect that is being emphasized to ensure that the supply of the end product can be reasonably ensured to the users in the market. The market players are taking the steps that are necessary to ensure that the market survives the turbulent period and emerge recovered in the future.
The prominent contenders in the facility management services market are FM: Systems Group, LLC. (U.S.) Trimble Inc. (U.S.), SAP AC (Germany), International Business Machines Corp. (U.S.), ARCHIBUS, Inc. (U.S.), Oracle Corporation (U.S.), CA Technologies (U.S.), Accruent (U.S.), Planon Ltd. (Netherlands) and MCS Solutions Pvt Ltd (India) to name a few.
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Facility Management Services Market Intended Audience
- Software Developers
- Government Firms
- Software Testers
- Hardware Vendors
- Storage Vendors
- System Integrators
- Application End-User
- Research Firms
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