The North American hard facility management (FM) market was valued at USD 217.11 billion the previous year and is expected to register a CAGR of 3.68%, reaching USD 273.22 billion by the next five years.
The North American Hard Facility Management Market is characterized by significant fragmentation and is home to major industry players such as Sodexo, Johnson Controls International PLC, Carrier Global Corporation, Jacobs Solutions Inc., and AECOM. These key players employ various strategic approaches, including partnerships and acquisitions, to bolster their service portfolios and maintain a lasting competitive edge.
In March 2023, CGI, a Canadian-based consulting firm, entered into a new five-year global framework contract with Sodexo. This agreement aims to expedite CGI's business transformation across various domains, concurrently improving operational efficiencies in the delivery of facility management services, particularly hard FM services. This strategic move underscores CGI's commitment to growth by reengineering its business operations.
In June 2023, Johnson Controls International PLC acquired M&M Carnot, a provider specializing in natural refrigeration solutions with an ultra-low global warming potential (GWP) in North America. This acquisition positions Johnson Controls to broaden its HVAC maintenance and repair services, facilitating customers in achieving their sustainability objectives while exceeding environmental regulatory requirements. This strategic action is expected to bolster the company's prospects for future market growth.
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