LONDON--(BUSINESS WIRE)--The global facilities management market is expected to grow by USD 1433.77 billion as per Technavio. Steady growth is expected to continue throughout the forecast period, and the market is expected to grow at a CAGR of over 14%. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Request free sample pages
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The market is driven by the rising demand for cloud-based solutions. In addition, the increasing demand for smart facilities is anticipated to boost the growth of the facilities management market.
Cloud-based solutions offer a reliable means of hosting facilities management software. They can also help in reducing the operating costs of organizations, as they enhance security and collaboration among teams and subsidiaries present in multiple locations. Secure hosting of critical data, improved security and scalability, and quicker disaster recovery are some of the other advantages of cloud-based facility management solutions. Backups are stored on a shared or private cloud host platform which allows companies to recover critical server data easily. The data can be easily accessed anywhere in the world with a stable internet connection via secure logins. Cloud-based facility management solutions also enhance customer satisfaction and decrease repair and maintenance costs. These benefits have resulted in the increasing use of cloud-based solutions for integrating facility management services, thus, driving the growth of the market.
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Major Five Facilities Management Companies:
Aramark has business operations under various segments, such as FSS United States, FSS International, and Uniform. Through its facility management services category, the company offers operation and maintenance services, energy management, engineering, construction management, and laundry services to educational institutions, healthcare facilities, businesses, and government offices.
International Business Machines Corp.
International Business Machines Corp. operates the business under various segments, such as cognitive solutions, global business services, technology services & cloud platforms, systems, and global financing. The company offers facility management services such as Watson IoT solution and TRIRIGA solution.
Interserve Group Ltd.
Interserve Group Ltd. has business operations under three segments, such as support services, construction, and equipment services. The company offers facilities management services such as asbestos management, cleaning, fire, building maintenance, healthcare staffing, consulting, security, and facilities management.
ISS AS operates its business through various geographic segments, such as Continental Europe, Northern Europe, Asia & Pacific, Americas, and other countries. The company offers services such as workplace management, risk management, supply chain management, and facilities administration along with various other cleaning, security, and support services.
Johnson Controls International Plc
Johnson Controls International Plc has business operations under various segments, such as building solutions North America, building solutions EMEA and LA, building solutions Asia Pacific, and global products. The company offers facility management services such as HVAC, security, and fire detection & control.
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Facilities Management End-user Outlook (Revenue, USD billion, 2020-2024)
Facilities Management Regional Outlook (Revenue, USD billion, 2020-2024)
- North America
- South America
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