Facility Management (FM) Services Market in Europe 2017-2021
About Facility Management (FM) Services
Facility management (FM) services can be summarized as a domain that covers the essential parts of an organization to carry out several prime operations for making an infrastructure better. FM deals in property maintenance and management, office designs, management of HVAC, and caters to a wide range of services like security, catering, water and energy management, waste collection, and others.
Technavio’s analysts forecast the facility management (FM) services market in Europe to grow at a CAGR of 10.82% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the facility management (FM) services market in Europe for 2017-2021. To calculate the market size, the report considers the services market.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Facility Management (FM) Services Market in Europe 2017-2021
Technavio recognizes the following companies as the key players in the facility management (FM) services market in Europe: Aramark, ISS, OCS, and Planon.
Other Prominent Vendors in the market are: Atkins, CBRE, Compass, and Sodexo.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is use of IoT and Big Data Analytics for optimizing resources. Real-time monitoring of processes in a building is leveraged with IoT solutions. Smart sensors are being developed and used for remote locations in a building, as well as in parts like lighting, heating, ventilation, refrigeration, and air-conditioning. The main area of concentration for the residents in the buildings remains the over conservation of energy and noting down the areas where they can reduce the energy consumption. This can be done by leveraging IoT in buildings.”
According to the report, one of the major drivers for this market is rising focus on conservation of energy. Consumers pay much attention toward cutting down their energy consumption to reduce their bills. Broadly, people spend a huge sum of money on the bills generated from their electricity consumption patterns. With the introduction of FM services and deployment of several integrated software within a building, a company has an idea about the areas where the wastage of energy could be cut down. This includes switching off electrical equipment when not in use, timely maintenance of the equipment, increasing the use of solar energy within buildings, emphasis on the use of light emitting diodes (LED), and others.
Further, the report states that one of the major factors hindering the growth of this market is expensive infrastructure maintenance. The buyers want the costs of FM services to be reduced as much as possible with almost no changes in service provider's mode of operations. The aging assets that they use add to excessive energy consumption that makes the maintenance of the building a challenge. All the electrical fittings within the building and maintenance of the overall building, which includes infrastructure management, cleaning, and maintenance of security equipment must be monitored timely. The remote parts of the building are a challenge to maintain. The HVAC equipment inside a building needs timely maintenance and servicing.
Aramark, ISS, OCS, Planon, Atkins, CBRE, Compass, and Sodexo.