Facility Management Market to 2027 | Geography Insights and Recent Developments Analysis

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

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• 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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• 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 Vecima Entra 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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