DUBLIN--(BUSINESS WIRE)--The "Facility Management Market by Solution (IWMS, BIM, Operations & Security, Environment, Property Management), Service (Auditing & Quality Assessment, SLA Management), Deployment Type, Organization Size, Vertical, and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
According to research, the global market size is expected to grow from USD 34.65 Billion in 2018 to USD 59.33 Billion by 2023, at a CAGR of 11.4% during the forecast period.
The major growth factors for the market include growth in the development of sustainable infrastructure, and in the adoption of IoT and connected devices for building automation across industry verticals. Moreover, an increasing need to meet environmental and regulatory compliance, and spur in the demand for integrated facility management to achieve economies of scale are also driving the market. The facility management market is segmented on the basis of solutions, services, organization size, deployment types, verticals, and regions.
- In the solutions segment, the facility property management subsegment is expected to hold the largest market share.
- The SLA management segment is expected to grow at the highest rate attributed to the fact that facility management vendors enable their clients to maintain and manage all SLAs and further help facility management teams to monitor the availability and performance of their critical facility management SLAs.
- The large enterprises segment is expected to hold a larger market share in the facility management market by organization size, mainly due to the fact that facility management solutions enable enterprises to monitor and regulate complex and huge facility infrastructures. In the deployment type segment, the cloud deployment type is expected to grow at a higher CAGR during the forecast period, mainly due to the fact that the cloud deployment model enables organizations to manage their costs but also helps them ensure improved business agility.
- The IT and telecom vertical is expected to hold the largest market share in the facility management market.
- North America is the largest contributor to the facility management market in terms of market size, as it is a technologically advanced region.
Key Topics Covered
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Facility Management Market, by Solution
7 Facility Management Market, by Service
8 Facility Management Market, by Deployment Type
9 Market By Organization Size
10 Facility Management Market, by Vertical
11 Facility Management Market, by Region
12 Competitive Landscape
13 Company Profiles
- CA Technologies
- Facilities Management Express
- Facilityone Technologies
- Hippo Cmms
- Indus Systems
- MCS Solutions
- Maintenance Connection
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