Facility Management Market by Offering (Solutions (IWMS, BIM, Facility Operations & Security Management) and Services), Vertical (BFSI, Retail, Construction & Real Estate, Healthcare & Life sciences) and Region - Global Forecast to 2028
The facility management market is estimated at USD 49.6 billion in 2023 to USD 94.8 billion by 2028, at a Compound Annual Growth Rate (CAGR) of 13.8%. Technological progress is a major catalyst reshaping facility management. Innovations like Building Information Modeling (BIM) digitally capture facility details, optimizing design, operation, and maintenance. Computer-Aided Facility Management (CAFM) centralizes functions from space planning to maintenance, boosting efficiency. AI-driven analytics transform data into insights for predictive maintenance, energy optimization, and resource allocation. Energy management solutions optimize consumption via smart controls. Remote monitoring enhances real-time system control and IoT integration offers data-driven insights. Mobile apps empower remote management and AR/VR provide immersive visualization. Collectively, these advancements foster efficient, data-driven facility management, streamlining processes and enhancing sustainability.
""By offering, solution segment to hold the largest market size during the forecast period.”
The technological developments have created a new edge of automation in which smarter and more flexible facility management solutions are being deployed at a large scale across all verticals. The legacy solutions in traditional models cannot provide rapid scalability, flexibility, manageability, and cost-effectiveness to support the exponentially evolving and complex management needs of today’s enterprises. The factor supporting the growth of the facility management market is the significant requirement of enterprises to deliver a highly personalized solution and enhance customer experience, as well as redesign the traditional facility management model by leveraging advanced software, IoT, and analytics.
Based on vertical, the IT & ITeS segment is expected to register the fastest growth rate during the forecast period.
The adoption of facility management IT and ITeS has become an integral part of modern businesses and organizations, revolutionizing how facilities are managed and services are delivered. Facility Management IT involves leveraging technology to optimize various aspects of facilities, such as maintenance, space planning, asset tracking, and security. Simultaneously, ITeS in facility management employs IT solutions to enhance service delivery and customer experience. By integrating technology into services like security management, helpdesk support, and space utilization analysis, organizations can offer improved responsiveness and quality.
“Asia Pacific highest growth rate during the forecast period.”
Asia Pacific constitutes thriving economies such as China, Japan, South Korea, Australia & New Zealand, Southeast Asia, and India. The growing development in these countries is expected to provide several new opportunities for the Asia Pacific facility management market. The expansion of corporate and government networks, the proliferation of cloud services, growing businesses, and associated operations are expected to increase the use of facility management solutions in the region.
Breakdown of primaries
The study contains insights from various industry experts, from solution vendors to Tier 1 companies. The break-up of the primaries is as follows:
By Company Type: Tier 1 – 35%, Tier 2 – 45%, and Tier 3 – 20%
By Designation: C-level –35%, D-level – 25%, and Others – 40%
By Region: North America – 30%, Europe – 30%, Asia Pacific – 25%, Middle East & Africa – 10%, and Latin America- 5%.
The major players in the facility management market include IBM Corporation (US), Oracle Corporation (US), SAP SE (Germany), CBRE Group, Inc. (US), Jones Lang LaSalle Inc (US), Trimble Inc. (US), Nemetschek SE (Germany), Fortive (US), Infor Inc. (US), MRI Software LLC (US), Eptura (US), Planon (Netherlands), Johnson Controls International (Ireland), Apleona GmbH (Germany), Cushman & Wakefield plc (US), Causeway Technologies Limited (UK), Service Works Global Limited (UK), Facilities Management eXpress LLC. (US), Archidata International Inc (Canada), UpKeep Technologies, Inc. (US), FacilityOne Technologies (US), OfficeSpace Software, Inc. (US), Facilio.Inc (US), efacility (Switzerland), InnoMaint (India), Nuvolo (US), QuickFMS (India), and zLink (US). These players have adopted various growth strategies, such as partnerships, agreements and collaborations, new product launches, enhancements, and acquisitions to expand their footprint in the facility management market.
The market study covers the facility management market size across different segments. It aims at estimating the market size and the growth potential across different segments, including offerings (solutions, and services), solution, service, vertical and region. The study includes an in-depth competitive analysis of the leading market players, their company profiles, key observations related to product and business offerings, recent developments, and market strategies.
Key Benefits of Buying the Report
The report will help the market leaders/new entrants with information on the closest approximations of the global facility management market’s revenue numbers and subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. Moreover, the report will provide insights for stakeholders to understand the market’s pulse and provide them with information on key market drivers, restraints, challenges, and opportunities.
The report provides insights on the following pointers:
Analysis of key drivers (surge in demand for cloud-based facility management solutions, rise in demand for facility management solutions integrated with intelligent software, rise in focus of enterprises to comply with regulatory policies, increase in adoption of IoT and AI in facility management solutions, and growth in inclination to use advanced technologies to maintain sustainability at workplaces), restraints (lack of managerial awareness and standardization) opportunities (growth in trend of outsourcing facility management operations, and increase in focus on integrating BIM with facility management solutions ), and challenges (integration of facility management with legacy ERP systems, and dearth of skilled or expert workforce ) influencing the growth of the facility management market. Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the facility management market. Market Development: Comprehensive information about lucrative markets – the report analyses the facility management market across various regions. Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the facility management market. Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players IBM Corporation (US), Oracle Corporation (US), SAP SE (Germany), CBRE Group, Inc. (US), Jones Lang LaSalle Inc (US), Trimble Inc. (US), Nemetschek SE (Germany), Fortive (US), Infor Inc. (US), MRI Software LLC (US), Eptura (US), Planon (Netherlands), Johnson Controls International (Ireland), Apleona GmbH (Germany), Cushman & Wakefield plc (US), Causeway Technologies Limited (UK), Service Works Global Limited (UK), Facilities Management eXpress LLC. (US), Archidata International Inc (Canada), UpKeep Technologies, Inc. (US), FacilityOne Technologies (US), OfficeSpace Software, Inc. (US), Facilio.Inc (US), efacility (Switzerland), InnoMaint (India), Nuvolo (US), QuickFMS (India), and zLink (US).