DUBLIN--(BUSINESS WIRE)--The "Global Smart Facility Management Market by Component (Software, Sensors and Surveillance Component, and Services), Service (Professional Services and Managed Services), Type, and Region - Forecast up to 2025" report has been added to ResearchAndMarkets.com's offering.
This market research report predicts that the global smart facility management market will grow at a CAGR of 18.0% during the forecast period 2019-2025.
The market for smart facilities is primarily driven by the increasing demand for energy-efficient buildings among commercial constructions. The integration of smart building features with BAS or BMS and the lack of interest among facility owners to implement smart facility components are restricting the growth of the smart facility management market.
Smart facility management helps the enterprises to monitor and maintain the overall functioning of the building infrastructure with quick response to any system failure. Globally, enterprises are continuously focusing on a sustainable model for facilities to reduce the carbon footprint of their organization.
According to our smart facility management analysis, Europe accounts for the largest market share in 2019. With the presence of the highest number of technology innovators and market disruptors in this region, the adoption of smart facility management solutions is highest in Europe. Several enterprises in this region are focusing on enhancing the employee experience inside the facility and hence improve productivity. Asia Pacific is anticipated to witness the fastest growth rate due to increasing construction activities, pushing the smart facility management market growth, especially in India, China, Indonesia, and Australia.
Smart Facility Market Research Competitive Analysis and Key Vendors
The report covers and analyzes the smart facility management market. Major vendors across different verticals are planning for high investments in product development, and as a result, the smart facility management market is expected to grow at an impressive rate in the coming years. The key players in the market are adopting various organic as well as inorganic growth strategies, i.e., mergers & acquisitions, collaborations & partnerships, joint ventures, and few other strategies to be in a strong position in the market.
Few of the Key Vendors in the Smart Facility Management Market
- Schneider Electric
- Johnson Controls
These companies are striving in the market sphere by acquiring clients across verticals, ranging from hospitality and food & beverages to IT and ITeS. For instance, Hilton Garden Inn, a hotel chain in Dubai, adopted Schneider Electric EcoStruxture Building Solution that integrates BMS, guest room management system, and property management system, providing optimal automation and efficiency with insights of room conditions and remote troubleshooting. Ritter Sport implemented Siemens new energy management system, and the company is focused on reducing its energy consumption by an additional 1.5% each year. The system integrates data from production systems with the building management systems to provide a holistic energy management system.
There are numerous other vendors that have been studied based on the portfolio, geographical presence, marketing & distribution channels, revenue generation, and significant investments in R&D for analysis of the entire ecosystem.
The managed services segment is estimated to hold the largest market share in 2019, and this trend is likely to continue during the forecast period 2019-2025.
The infrastructure management segment is projected to grow at the highest rate for driving better building experience, scheduled predictive maintenance, and monitoring.
Key Topics Covered:
1 Executive Summary
2 Industry Outlook
2.1 Industry Overview
2.2 Industry Trends
3 Market Snapshot
3.1 Total Addressable Market
3.2 Segmented Addressable Market
3.3 PEST Analysis
3.4 Porter 5 (Five) Forces
3.5 Related Markets
4 Market Characteristics
4.2 Market Trends and Impact
4.3 Market Segmentation
4.4 Market Dynamics
22.214.171.124 Increased use of data-enabled decision-making
126.96.36.199 Better connectivity and collaborative workplace
188.8.131.52 Automation of building maintenance systems and energy management
184.108.40.206 Changing regulatory and compliance scenario
220.127.116.11 Cost concerns in implementation
18.104.22.168 Technical disruptions in building management and automation
22.214.171.124 Enhancement in security monitoring of buildings
126.96.36.199 Tracking of Assets
4.4.4 DRO - Impact Analysis
5 Component: Market Size & Analysis
5.3 Sensors and Surveillance Component
5.4.1 Professional Services
5.4.2 Managed Services
6 Type: Market Size & Analysis
6.1 Energy Management
6.2 Infrastructure Management
6.3 Property Management
7 Region: Market Size & Analysis
7.1.1 Market Size and Analysis
7.2 North America
7.2.1 North America Smart Facility Management Market Revenue by Component
7.2.2 North America Smart Facility Management Market Revenue by Services
7.2.3 North America Smart Facility Management Market Revenue by Type
7.3.7 Rest of Europe
7.4 Asia Pacific
7.4.8 Rest of Asia Pacific
7.5 Middle East & Africa
7.5.4 South Africa
7.5.6 Rest of Middle East Africa
7.6 Latin America
8 Competitive Landscape
8.1 Competitive Comparison Analysis
8.2 Product Offerings
8.3 Market Developments
8.3.1 Partnerships, Mergers and Acquisitions
8.3.2 Product Launches & Exhibitions
9 Vendor Profiles
- Johnson Controls
- Schneider Electric
For more information about this report visit https://www.researchandmarkets.com/r/8atvf5