Global Facility Management Market Report, Industry Analysis and Forecast to 2029

Facility Management Market is estimated to reach $ 1,440.5 million by 2029, growing at a CAGR of 13.5% from 2022-2029. Facility management is an essential part of any organization, and the market for facility management services has been growing rapidly in recent years. The growth factors of the facility management market are driven by various factors, such as the increasing adoption of cloud-based solutions, the rise in demand for outsourcing services, the need for cost-effective management of facilities, and the growing trend of automation and digitization. The emergence of new technologies such as IoT, AI, and machine learning has also played a significant role in the growth of the facility management market, as these technologies have made it easier to monitor and manage facilities more efficiently. Additionally, the growing awareness about sustainability and energy-efficient practices has created new opportunities for facility management providers to offer services that reduce energy consumption and environmental impact.

Market Snapshot:

Facility Management Market - Report Coverage:

The “Facility Management Market Report - Forecast (2022-2029)” by Marketlook Consulting, covers an in-depth analysis of the following segments in the Facility Management Market.

COVID-19 / Ukraine Crisis - Impact Analysis:  

• The COVID-19 pandemic has had a significant impact on the facility management market. The pandemic has brought about an urgent need for facilities to be managed in a way that ensures the health and safety of occupants. This has led to an increased demand for cleaning and disinfection services, as well as the implementation of social distancing measures and other safety protocols.
• Many facilities management companies have had to adapt to these changes and provide services that cater to the new normal. Remote monitoring and management technologies have also become more important, as many facilities have had to reduce staff on-site or implement work from home policies. However, the pandemic has also caused some challenges for the facility management market, such as reduced demand for services due to closures of non-essential facilities and budget constraints for organizations. Nonetheless, the facility management market is expected to rebound as the world returns to normalcy and facilities require management services once again.

Segmental Analysis:

Surge in the demand for Outsourcing Facility Promulgating the Market Growth

Based in type, outsourcing facility continues to gain momentum and capture significant market share in 2021. Before, outsourcing facility management to third party, they review the appropriate mix of insourcing and outsourcing based capability, cost and coverage. Outsourcing is popular in Europe, Middle East and North America. The trend is driven by the increase in demand for high quality workspace experiences and reduced operating costs.

Solutions Segment Captured the Highest Market

Based on component, solution segment holds the largest facility management market share, as it offers numerous features, including maintenance management, space management, asset management, move management, and real-estate portfolio management. It reduces the complication rate and expenses associated with space management. Furthermore, it extends lifespan of assets and reduces energy related expenses. This positively impacted the facility management services market. However, the services segment is expected to grow at the highest rate during the forecast period, due to adoption of IT as a service model among organizations.

Demand for Cloud Based Facility Management is Bolstering

Cloud-based solutions can be defined as application-based on subscription or on demand. In addition, FM industry provides flexible solution for an organization, easy to deploy, and require less maintenance. Demand for cloud-based solutions is increasing across the globe, owing to the rise in IoT applications, increase in internet penetration, and surge in adoption of smart devices.

Middle East and Africa Region Maintained a Dominating Position

Qatar and Saudi Arabia's facility management markets are witnessing significant growth, and companies need to innovate their offerings to keep growing and remain profitable. However, residential, commercial, industrial, and public infrastructure sectors are the primary sectors likely to drive the studied market. Qatar state’s have keen interest in accomplishing the major development projects on schedule, especially those related to hosting the FIFA World Cup Qatar 2022. Moreover, with the snowballing number of building permits expected to be completed by 2022. This has, in turn, augmented the need for better management of the facilities.

Facility Management Market Share (%) By Region, 2022

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Key Market Players: 

Product/Service launches, approvals, patents and events, acquisitions, partnerships and collaborations are key strategies adopted by players in the Facility Management Market. The top 10 companies in this industry are listed below:

1. CBRE Group
2. Jones Lang LaSalle Incorporated
3. Dussmann Group
4. Crushman & Wakefield PLC
5. Emeric Facility Services
6. Sodexo, Inc.
7. AHI Facility Services
8. Shine Management & Facility Services
9. Guardian Services Industries, Inc.
10. ISS Facility Services Inc.

Scope of Report: