Facility Management Services Market By Service Type (Property, Cleaning, Security, Catering, Others), By Type (Outsourced, In-house), By End-user (Commercial, Institutional, Public/Infrastructure, Industrial, Others): Global Opportunity Analysis and Industry Forecast, 2020-2030
The facility management services market was valued at $1,253.3 billion in 2020, and is expected to reach $2,525.1 billion by 2030, registering a CAGR of 7.1% from 2021 to 2030. Facility management services expand the worth of the building by offering different maintenance solutions. Furthermore, these services offer more noteworthy returns over the real estate investments to landowners through administration and value-added solutions. The facility management services uphold functional and financial goals of proprietors. The services include applications, such as security, plumbing, finishing, electrical arrangements and cleaning for different uses.
The global facility management services market experiences growth due to rise in urbanization and industrialization. The growing urbanization leads to growing tourism and hospitality industry. In addition, different industries like petroleum, mining, transportation, and pharmaceutical are growing due to rise in urbanization. The huge industrial sector requires the timely maintenance of industrial facilities, which drives the growth of the facility management services market. In addition, different organizations have goals regarding safeguarding their assets that require huge investment and safeguarding them requires maintenance solutions. This is expected to drive the growth of the market. Moreover, the development of mega projects in different countries is growing, which demands for timely maintenance owing to greater investment and spending. Hence, such investments are expected to drive the growth of the facility management services market.
However, adoption of outsourced facility management services over in-house facility management services restrains the growth of the facility management services market. In addition, lack of education in developing countries leads to lesser skilled workforce, which leads to low understanding of the facility management services. Hence, the lower awareness is expected to hamper the growth of the facility management services market.
On the contrary, security and maintenances services of commercial and residential buildings are improving, owing to rise in use of technology over the facility management systems. These systems provide smarter and safer solutions for maintenance. In addition, the government investment for infrastructure is improving, which leads to different initiatives including the maintenance services. Hence, the technological advancements and growing government investments are expected to offer lucrative opportunities for the facility management services market.
The facility management services market is segmented on the basis of service type, type, end user and region. By service type, the market is bifurcated into a property, cleaning, security, catering, and others. By type, the market is segmented into outsourced and in-house. By end user, the market is divided into commercial, institutional, public/ infrastructure, industrial, and others. Region-wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, Italy, Spain, and rest of Europe), Asia-Pacific (China, Japan, South Korea, India, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
Competition Analysis
The major players profiled in the facility management services market include, Group Atalian (Arthur McKay & Co Ltd.), BVG India Ltd., CBRE Group, Inc., EMCOR Group, Inc., ISS World Services A/S, Knight Facilities Management, Quess Corp Ltd., Sodexo, Inc., Downer Group (Spotless Group), and Tenon Group. Major companies in the market have adopted acquisition, partnership and agreement as their key developmental strategies to offer better products and services to customers in the Facility management services market.
KEY BENEFITS FOR STAKEHOLDERS
The report provides an extensive analysis of the current trends, future estimations, and dynamics of the facility management services market.
In-depth facility management services market analysis is conducted by estimations for the key segments between 2021 and 2030.
Extensive analysis of the market is conducted by following key product positioning and monitoring of top competitors within the market framework.
A comprehensive analysis of four major regions is provided to determine the prevailing opportunities.
The market forecast analysis from 2021 to 2030 is included in the report.
The key market players operating in the market are profiled in this report and their strategies are analyzed thoroughly, which help to understand the competitive outlook of the market industry.
Key Market Segments
By Service Type
Cleaning
Security
Catering
Others
Property
By Type
Outsourced
In-house
By End-user
Commercial
Institutional
Public/Infrastructure
Industrial
Others
By Region
North America
U.S.
Canada
Mexico
Europe
France
U.K.
Italy
Rest of Europe
Germany
Asia-Pacific
China
Japan
India
South Korea
Rest Of Asia Pacific
LAMEA
Latin America
Middle East
Africa
Key Market Players
BVG India
Group Atalian (Arthur McKay & Co Ltd.)
CBRE Group, Inc.
EMCOR Group, Inc.
ISS World Services A/S
Knight Facilities Management
Quess Corp Ltd
Sodexo, Inc.
Downer Group (Spotless Group)
Tenon Group
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