Global Facility Management Market Expected To Reach $ 49.54 Billion By 2020 With A CAGR Of 14.42%

Date: 2016-09-18

The global Facility Management market was estimated at USD$ 25.26 billion in 2015, and is anticipated to reach USD$ 49.54 billion by 2020, expanding at a CAGR of 14.42% between 2016 and 2020. Facility management (or facilities management or FM) is a management discipline concerned with the integration of processes within an organization to maintain and develop agreed services which support and improve the effectiveness of its primary activities.

Facilities management involves the management and maintenance of support services across multiple industries. Facilities management services are used to enhance the quality of core business processes and increase the efficiency of service throughout entire service application. The demand for reduced operational cost of business processes is expected to drive the facilities management market around the globe. Similarly, important government regulations and standards impended on various industries and rising adoption of outsourced services for the maintenance and support of business processes are expected to drive the market for facilities management. In addition, with the increasing adoption of facilities management market many of the service providers are focusing on delivering customized facility services according to demand. Similarly, companies prefer total facilities management services and bundled facilities management services delivery systems to enhance the overall performance of services.

The market, by solution, has been segmented into asset and inventory management, workplace and relocation management, sustainability management, strategic planning and project management, real estate and lease management, maintenance management and others (space reservation and incident management). Maintenance management is expected to witness the highest CAGR during the period 2016 to 2021. Maintenance management solutions provide standardized tools that are powerful and consistent across the business and can be used for planning, forecasting, and evaluating maintenance work related to assets, equipment, properties, and any other related facilities. These benefits are driving the market and are anticipated to help in propelling the facility management market at the highest CAGR during the forecast period.

The facility management market segments the global market on the basis of regions, which include North America, Asia-Pacific (APAC), Europe, the Middle East and Africa (MEA), and Latin America. North America is expected to hold the largest share of the facility management market in 2016 due to the technological advancements and early adoption of facility management solutions across a large number of verticals in this region. The market in APAC is expected to grow at the highest CAGR between 2016 and 2021. The primary driving forces for this growth are changing work culture in organizations and rapidly deployable cloud-based solutions in various industries in the APAC countries, especially India, China, and Japan.

According to survey, the region of Facility Management market share as following:
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Joanna | Executive – International Business and partner Relations
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