Facility Management Market - Revenue Outlook, Segmentation & Key Trends to 2027

1. Facility Management Market Report to 2027 - Opportunity Analysis & Growth Insights

2. The physical environment of an establishment has a major role to play in the way it functions. With physical asset models in retail, office, and restaurant spaces continuing to evolve, the demand for facility management will also witness an upsurge. The transition of facility management over the years has altered the way enterprises operate. There has been a tremendous rise in the emergence of IoT and automation, which has led to the evolution of real estate models and IT infrastructure, improved employee engagement, and rising focus on their health and wellness while ensuring environmental sustainability. • Adequately managed facilities help save a lot of costs on managing premises and equipment and boost employee morale while elevating their efficiency and engagement at the workplace. The need for consistent, accurate, secured, complete, timely compliance to protect company workers and assets and deter unauthorized access to an establishment will push the growth of the global facility management industry in the future. • A report by Global Market Insights Inc states that facility management market size may hit USD 2 trillion by 2027, backed by increasing cloud deployments due to the current COVID-19 apocalypse and prominent remote working and outsourcing trends. Moreover, rising organization requirements to keep track of the assets and increase productivity will positively influence the industry.

3. Cloud-based facility management solutions could gain substantial momentum in the foreseeable future, driven by the increasing product integration across the healthcare and corporate vertical. For instance, in Jan 2022, Hallmark Health Care Solutions accomplished Service Organization Control Type II audit certificate for its data protection controls across the healthcare sector. The company has also been approved as a Microsoft Gold Partner in eight competency dimensions. • Cloud-based FMS may gain a competitive edge over their traditional counterparts due to several benefits like remote accessibility, security from data loss, and improved managerial efficiency. Further, they require no installation and thus save a lot on the IT handling charges, making it and cost-efficient alternative to on-premise FMS. • There has been a considerable rise in outsourced facilities in the past two years due to the sudden onset of the global pandemic and rapid integration of remote working trends across the globe. Outsourcing can bring huge business benefits by minimizing the labor charges, increasing efficiency and flexibility, offering better access to resources or skills while increasing flexibility to satisfy varying company and retail prerequisites. Moreover, it reduces ongoing acquisition in internal infrastructure and cash influx and helps focus on the core business.

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5. Regional Analysis • North America facility management market could register breakthrough expansion given the rapidly improving IT infrastructure and flourishing tourism sector coupled with the increasing focus by the government and industry players towards cost-effective business solutions. Several new players are engaging in tactical alliances to expand their footprint in the market. • For instance, in Feb 2022, Vecima Networks Inc. announced its collaboration with Bluepeak and successfully deployed the VecimaEntra SC-2D R-MACPHY node on Amazon EC2. The deployment verifies the technological feasibility of cloud based DAA (Distributed Access Architecture). • Competitive Analysis • Some of the key players operating in the market are Aramark, CB Richard Ellis (CBRE), Colliers International, Compass Group, Cushman & Wakefield, EMCOR Group, Inc., G4S plc, GDI Integrated Facility Services, Inc., IBM Corporation, Interserve PLC, ISS Facilities Services Inc., Jones Lang LaSalle Incorporated, OCS Group, Oracle Corporation, Planon Corporation, SAP SE, Serco Group, Sodexo, Tenon Group, and Veolia Environment.

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