Facility Management Market Scope
Facility management refers as the efficient and effective delivery of services for the organization. The key benefits of the facility management services include cost optimization, transfer of risk, tailored services, various technology solutions, standardization and among others. These key benefits of the facility management service is acting as key driver for the market as many company getting financial benefits due to facility management service. But lack of awareness associated with the benefits of the service is limiting the growth of the market. New technologies such as Internet of Things (IoT) and smart connected devices can create a huge opportunity for the facility management service market
According to AMA, the Global Facility Management market is expected to see growth rate of 12.5% and may see market size of USD79837.0 Million by 2026.
The Manufacturers having a strong hold in the market are IBM Corporation, Oracle Corporation, SAP SE. Research Analyst at AMA estimates that United States and European Manufacturers will contribute to the maximum growth of Global Facility Management market throughout the predicted period.
IBM Corporation (United States), Oracle Corporation (United States), SAP SE (Germany), MCS Solutions (Belgium), Ioffice Corporation (United States), Archibus, Inc. (United States), FM System, Inc. (United States), CA Technologies, Inc. (United States), Accruent, LLC (United States), Planon Corporation (Netherlands), Trimble, Inc. (United States), Maintenance Connection (United States), JadeTrack (United States), MetricStream(United States), Facility Management eXpress (United States), eMaint (United States), Hippo CMMS (Canada), Indus Systems (United States) and Autodesk (United States) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research are Nemetschek (Germany), Archidata (Canada), OfficeSpace (United States), FacilityONE Technologies (United States) and Apleona (Germany).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
Segmentation Overview
The study have segmented the market of Global Facility Management market and Region with country level break-up.
On the basis of geography, the market of Facility Management has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Leaders and their expansionary development strategies
On April 2011, the IBM Corporation had acquired facility management service company named as TRIRIGA, Inc. The Acquisition was strategic decision taken by IBM Corporation to make the strong value in the facility management services.
According to ISO 41001:2018, the facility management service should demonstrate effective and efficient delivery, and aims to without fail meet the requirements of interested customers/clients and applicable needs .
Market Trend
- Increasing Adoption of Internet of Things and smart connected devices for building automation
Market Drivers
- Increasing Adoption of cloud-based solutions
- Emergence of the Software as a service deployment model
- Rising Demand for integrated facility management
Opportunities
- Lack of Skilled Man force
Restraints
- Lack of Awareness about Benefits of Facility Management
Key Target Audience
Facility management solution providers, Facility management service providers, Building automation solution providers, Managed service providers, Integration service providers, Cloud service providers, Architects, engineers, and contractors, Consultancy firms and advisory firms and Regulatory agencies