DUBLIN--(BUSINESS WIRE)--The "Global Facility Management Market - Segmented by Solution, Service, Deployment Type, End User, and Region - Growth, Trends, and Forecast (2018 - 2023)" report has been added to ResearchAndMarkets.com's offering.
The global facility management market was valued at USD 31.96 billion in 2017 and is expected to reach a market value of USD 64.5 billion by 2023, registering a CAGR of 12.41% during the forecast period of 2018-2023. Cloud deployment is anticipated to witness a healthy CAGR.
Enterprises are moving beyond the traditional concept of facility management, to address rapid technology changes and current business needs, that are helping in the increasing adoption of these solutions.
Study segmentation is by strategic planning and project management, asset and inventory management, maintenance management, workplace and relocation management, and sustainability management. The market segmentation is by consulting, managed services, and integration and deployment, and by deployment type into on-premise or cloud.
Adoption of IoT is a Major Opportunity
At present, businesses are increasingly looking for instant ease-of-working culture, merchandise and workflow management, and copying the idea of connected devices. Thus, facility management is soon poised to look, drastically, different from just a decade ago. With the introduction of next-generation technologies, such as the Internet of Things, and advanced connectivity spectrums, like 5G, the digital transformation of business centers are expected to have an increase in demand over the next few years. Moreover, the number of IoT connected devices is expected to touch 30 billion by 2020.
Key Developments in the Market
- January 2018: AAF International announced the acquisition of RIS Facility Management GmbH. With this acquisition, AAF International is expected to expand its operational footprint further and increase both the quality and quantity of services offered in Germany and rest of Europe. The acquisition is also expected to help AAF to meet their customers' demand for value-added air filtration solutions in Germany.
- January 2018: Al Naboodah Group Enterprises (ANGE) entered the facilities management (FM) industry with the launch of Al Naboodah Facilities Management. With this new entry, the competition in UAE is expected to increase. The business is expected to compliment Al Naboodah's construction business.
- Accruent LLC
- Archibus Inc.
- CA Technologies
- FM System Inc.
- IBM Corp.
- iOffice Corporation
- Oracle Corporation
- Planon corporation
- SAP SE
- Satnav Technologies
- Trimble Navigation Ltd.
Key Topics Covered
2. Research Approach and Methodology
3. Executive Summary
4. Market Dynamics
5. Market Segmentation
6. Competitive Intelligence - Company Profiles
7. Investment Analysis
8. Future of the Market
For more information about this report visit https://www.researchandmarkets.com/research/dfhchs/global_facility?w=4