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Global Facilities Management Market 2019-2023

Global Facilities Management Market 2019-2023

About this market

Various technological innovations have created an increasing demand for smart facility management solutions. This have resulted in the increased adoption of IoT and Industry 4.0 in the facilities management market. IoT network consists of sensors, actuators, and thermostats which are interconnected over the internet and collects and evaluates data to reduce the energy required for performing tasks. IoT technology is also used for predictive maintenance which reduces operational costs and increases productivity. Lighting, refrigeration, security and safety alarms, and fire suppression systems are some of the functions that can be automated though IoT. Since IoT improves productivity and ensures energy efficiency of buildings, the advent of IoT in facilities management will drive market growth during the forecast period. Technavio’s analysts have predicted that the facilities management market will register a CAGR of over 12% by 2023.Market Overview

Increasing demand for cloud-based facility management solutions

There has been an increasing demand for cloud-based solutions in the facilities management market. Cloud based solutions offer secure means of hosting critical data. These solutions also improve the security and collaboration among teams present in multiple locations around the world. This reduces the operational costs for organizations. Cloud-based solutions allows quick data recovery as the backups are stored on a private or shared cloud host platform which can be accessed from anywhere in the world via secure logins. These benefits will increase the adoption of cloud-based facility management solutions and drive market growth.

Rise in budgetary constraints

Small organizations, especially in emerging economies are forced to avail low-quality facility management services due to their budgetary constraints. The company’s profitability gets affected due to the high operation and maintenance cost of these low-quality facility management solutions. Moreover, rising labor costs and replacement and maintenance of aging assets adds to the operational and maintenance costs of the company. These factors are hurting the growth prospects of the facilities management market during the forecast period.

For the detailed list of factors that will drive and challenge the growth of the facilities management market during 2019-2023, view our report.

Competitive Landscape

The market appears to be fragmented and with the presence of several companies including Aramark, and Interserve the competitive environment is quite intense. Factors such as the growing demand for cloud-based facility management solutions, will provide considerable growth opportunities to facilities management companies. Aramark, Interserve, ISS, OCS Group, and Serco Group are some of the major companies covered in this report.


PRESS RELEASE

Technavio Announces the Publication of its Research Report – Global Facilities Management Market 2019-2023

Technavio recognizes the following companies as the key players in the global facilities management market: Aramark, Interserve, ISS, OCS Group, and Serco Group.

Commenting on the report, an analyst from Technavio’s team said: “IoT improves productivity and decreases operational costs. This will lead to increased adoption of IoT in facility management services which, in turn, will boost market growth.”

According to the report, one of the major drivers for this market is the increasing demand for cloud-based facility management solutions. Cloud-based solutions offer improved security and quicker disaster recovery which drives the increased adoption of cloud-based solutions in the facilities management market.

Further, the report states that one of the major factors hindering the growth of this market is the budgetary constraints of small organizations which leads to the procurement of low-quality facility management services. The high operation and maintenance cost of these facility management services hurts the profit margins of the companies which, in turn hampers market growth.

Companies Mentioned

Aramark

Interserve

ISS

OCS Group

Serco Group

  • Executive summary
  • Scope of the report
    • Preface
    • Currency conversion rates for US$
  • Market landscape
    • Market ecosystem
      • Table Global integrated building management systems market
    • Market characteristics
      • Table Market characteristics
    • Market segmentation analysis
      • Table Market segments
  • Market sizing
    • Market definition
      • Table Market definition - Inclusions and exclusions checklist
    • Market sizing 2018
      • Table Market size 2018
    • Market size and forecast 2018-2023
      • Table Global market: Size and forecast 2018-2023 ($ billions)
      • Table Global market: Year-over-year growth 2019-2023 (%)
  • Five forces analysis
    • Table Five forces analysis 2018
    • Table Five forces analysis 2023
    • Bargaining power of buyers
      • Table Bargaining power of buyers
    • Bargaining power of suppliers
      • Table Bargaining power of suppliers
    • Threat of new entrants
      • Table Threat of new entrants
    • Threat of substitutes
      • Table Threat of substitutes
    • Threat of rivalry
      • Table Threat of rivalry
    • Market condition
      • Table Market condition - Five forces 2018
  • Market segmentation by end-user
    • Table End-user - Market share 2018-2023 (%)
    • Comparison by end-user
      • Table Comparison by end-user
    • Commercial segment - Market size and forecast 2018-2023
      • Table Commercial segment - Market size and forecast 2018-2023 ($ billions)
      • Table Commercial segment - Year-over-year growth 2019-2023 (%)
      • Table Upcoming commercial projects
    • Government segment - Market size and forecast 2018-2023
      • Table Government segment - Market size and forecast 2018-2023 ($ billions)
      • Table Government segment - Year-over-year growth 2019-2023 (%)
    • Residential segment - Market size and forecast 2018-2023
      • Table Residential segment - Market size and forecast 2018-2023 ($ billions)
      • Table Major services in residential buildings
      • Table Residential segment - Year-over-year growth 2019-2023 (%)
      • Table Upcoming residential projects in UAE
    • Market opportunity by end-user
      • Table Market opportunity by end-user
  • Customer landscape
    • Table Customer landscape
  • Geographic landscape
    • Geographic segmentation
      • Table Market share by geography 2018-2023 (%)
    • Geographic comparison
      • Table Geographic comparison
    • Americas - Market size and forecast 2018-2023
      • Table Americas - Market size and forecast 2018-2023 ($ billions)
      • Table Americas - Year-over-year growth 2019-2023 (%)
      • Table Upcoming commercial construction projects in Canada (as of 2018)
    • EMEA - Market size and forecast 2018-2023
      • Table EMEA - Market size and forecast 2018-2023 ($ billions)
      • Table EMEA - Year-over-year growth 2019-2023 (%)
    • APAC - Market size and forecast 2018-2023
      • Table APAC - Market size and forecast 2018-2023 ($ billions)
      • Table APAC - Year-over-year growth 2019-2023 (%)
    • Key leading countries
      • Table Key leading countries
    • Market opportunity
      • Table Market opportunity
  • Decision framework
  • Drivers and challenges
    • Market drivers
    • Market challenges
      • Table Impact of drivers and challenges
  • Market Trends
  • Vendor landscape
    • Overview
      • Table Vendor landscape
    • Landscape disruption
      • Table Landscape disruption
  • Vendor analysis
    • Vendors covered
      • Table Vendors covered
    • Vendor classification
      • Table Vendor classification
    • Market positioning of vendors
      • Table Market positioning of vendors
    • Aramark
      • Table Aramark - Vendor overview
      • Table Aramark - Business segments
      • Table Aramark - Organizational developments
      • Table Aramark - Geographic focus
      • Table Aramark - Segment focus
      • Table Aramark - Key offerings
    • Interserve
      • Table Interserve - Vendor overview
      • Table Interserve - Business segments
      • Table Interserve - Organizational developments
      • Table Interserve - Geographic focus
      • Table Interserve - Segment focus
      • Table Interserve - Key offerings
    • ISS
      • Table ISS - Vendor overview
      • Table ISS - Service segments
      • Table ISS - Organizational developments
      • Table ISS - Geographic focus
      • Table ISS - Segment focus
      • Table ISS - Key offerings
    • OCS Group
      • Table OCS Group - Vendor overview
      • Table OCS Group - Service segments
      • Table OCS Group - Geographic focus
      • Table OCS Group - Key offerings
    • Serco Group
      • Table Serco Group - Vendor overview
      • Table Serco Group - Business segments
      • Table Serco Group - Organizational developments
      • Table Serco Group - Geographic focus
      • Table Serco Group - Key offerings
  • Appendix
    • Research methodology
    • List of abbreviations
  • Explore Technavio

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