Rise in the Facility Management Solutions in Healthcare Facilities is Driving the Market

Facilities management can be defined as the tools and services that support the functionality, safety, and sustainability of buildings, grounds, infrastructure, and real estate. There are two basic areas, including hard facilities management (hard FM) and soft facilities management (soft FM).

Governments have initiated in several countries for the development of smart cities thus, these factors will aid in the development of public infrastructure including malls, airports, hospitals thereby fostering the market growth. Besides, covid-19 has also changed the lifestyles of individuals. Most of the people are more focused on sanitization and hygiene practices. This has been also propelling the market growth. Moreover, in recent years, healthcare facilities have increased in the country at a significant pace, creating substantial opportunities for facility management companies.

Several large facilities management service providers with a heavy initial investment in facilities services face challenges regarding limited utilization of technology; this is due to the contracts taken for a long period of time.

According to Marketlook Consulting’s research report “Global Facility Management Market Analysis, 2021”, the Global Facility Management market is anticipated to grow at a CAGR of 13.7% during 2022-29. The market would reach USD 96.12 Billion by 2029.

Based on organization size, large organization size facility management captures a higher market share in 2021. FM in large enterprises help in data-driven decision making enabling operational efficiency and enhanced customer experience. Thus, large enterprises FM would continue to grow.

Based on end use industry, in recent years, healthcare facilities have increased in the country at a significant pace, creating substantial opportunities for facility management companies. The need to adopt effective waste disposal and cleaning practices to avoid disease transmission in healthcare centers is thriving the market growth. Furthermore, several government-driven initiatives are changing the dynamics of the FM market, reshaping the healthcare landscape in the Middle Eastern regions especially, and creating a more robust institutional setup and effective regulatory frameworks to promote private sector investment in healthcare.

Organization culture is evolving very fast with globalization. Companies are diversifying their business operations and work culture. Technological advancement and innovation influence the work culture. Demand for work from home, elastic timings, and decentralizations of authority is driving the organization culture and work style. Organizational culture sets the context for everything that an enterprise does. Hence, changing organizational culture and work style boosts the FM industry growth. These factors are anticipated to fuel the facility management market growth.

“Global Facility Management Market Analysis, 2021” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for Facility Management providers across the Globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitors’ capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.      

Asia Pacific Captures a Significant Share in the Market

Based on Leading regions, Asia Pacific dominated the global Facility Management market in 2022 and is projected to maintain its dominance during the forecasted period 2023-30 due to the Geographical analysis is an essential component of the report’s research and development study for market analysis. The regional extent section contains crucial insights into market sales growth at both regional and country levels. This market scope’s geographical spectrum analyses and investigates each regional spectrum of the Facility Management Market industry. Each of these major regions is analyzed based on manufacturing, supply, statistics, and import & export. Furthermore, owing to increase in demand for facility management solutions and rise in adoption of cloud-based solutions, particularly in Iraq, Pakistan, Afghanistan, and India. These factors drive the market growth in Asia-Pacific, which further adds to the growth of this region in the global Facility Management industry as stated in Marketlook Consulting research report “Global Facility Management Market Analysis, 2021”.

According to Marketlook Consulting’, the key players with a considerable market share in the global Facility Management market are CBRE Group, Jones Lang LaSalle Incorporated, Dussmann Group, Crushman & Wakefield PLC, Emeric Facility Services, Sodexo, Inc., AHI Facility Services, Shine Management & Facility Services, Guardian Services Industries, Inc , ISS Facility Services Inc. apart from others.

Market Segmentation:

1. By Type (Out-sourced and In-house)

2. By Component (Solution, Services)

3. By Organization Size (Large Enterprises, Small & Medium Enterprises)

4. By End Users (Healthcare, Government, Education, Military/Defense, Real Estate, Others)

5. By Region (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa)

6. By Company (CBRE Group, Jones Lang LaSalle Incorporated, Dussmann Group, Crushman & Wakefield PLC, Emeric Facility Services, Sodexo, Inc., AHI Facility Services, Shine Management & Facility Services, Guardian Services Industries, Inc , ISS Facility Services Inc.)

Key questions answered in the study:

1. What are the current and future trends of the Facility Management industry?
2. How the industry has been evolving in terms of consumer type demand and application areas?
3. How the competition has been shaping across the countries followed by their comparative factorial indexing?
4. What are the key growth drivers and challenges for the Facility Management industry?
5. What is the customer orientation, purchase behaviour, and expectations from the Facility Management firms across various regions?