DUBLIN--(BUSINESS WIRE)--The "Global Facility Management Market Size, Trends & Growth Opportunity By Deployment Mode, By Organization Size, and By Region and Forecast to 2027." report has been added to ResearchAndMarkets.com's offering.
Global Facility Management Market
The Global Facility Management Market is expected to grow from US$ 42.2 Billion in 2021 to US$ 86.3 Billion by 2027; it is estimated to grow at a CAGR of 10.37% from 2021 to 2027.
Drivers
A dependable way to host facilities management software is through cloud-based solutions. They improve security and collaboration across teams and subsidiaries present in various places, which helps firms lower operating costs. Secure hosting of sensitive data, enhanced security and scalability, and quick disaster recovery are some other benefits of cloud-based facilities management solutions. Because the backups are kept on a shared or private cloud host platform, businesses may quickly retrieve crucial server data from them. Through secure logins, the data is readily accessible from any location with a reliable internet connection.
Restraints
Larger firms are increasingly favouring legacy Enterprise Resource Planning (ERP) software. The building's digital architecture cannot use facility management systems in isolation. It is frequently necessary for them to be connected with ERP systems. Because the integration is done in stages, integrating facility management software with ERP systems is a challenging undertaking. Regrettably, outdated ERP solutions are insufficient to function independently and meet client needs. Additionally, because most corporate software solutions include complicated features, businesses are reluctant to migrate to an Integrated Workplace Management System (IWMS) or Computer-Aided Facility Management (CAFM) programme.
Industrial Development
- In May 2020, Oracle joined forces with Propre Japan Inc. Oracle Japan will work with Propre Japan Inc. to create the global real estate big data platform for Propre, which will be accessible in 17 nations. This partnership would result in an increase in Oracle's clientele.
- Customers will have peace of mind after Sodexo and Bureau Veritas established a sanitary verification mark for Sodexo services in June 2020. This partnership includes on-site facilities management and culinary services.
- In April 2019, IBM and Sund & Baelt worked together to expand the IBM Maximo portfolio to offer deep industry- and task-specific functionality to support organisations in managing, monitoring, and administering their infrastructure assets. IBM already provided the IBM Maximo for Civil Infrastructure solution.
- Fortive purchased ServiceChannel in July 2021. Leading supplier of SaaS-based multi-site solutions is ServiceChannel. Along with Accruent and Gordian, it increased the range of Facility and Asset Lifecycle workflow solutions offered by Fortive.
Market Taxonomy
By Deployment Mode
- Cloud
- On-premises
By Organization Size
- Large enterprises
- Small and medium-sized enterprises (SMEs)
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Key Questions Addressed by the Report
- What are the Key Opportunities in Facility Management Market?
- What will be the growth rate from 2020 to 2027?
- Which segment/region will have highest growth?
- What are the factors that will impact/drive the Market?
- What is the competitive Landscape in the Industry?
- What is the role of key players in the value chain?
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Global Facility Management Market Outlook
5 Global Facility Management Market, By Deployment Type
6 Global Facility Management Market, By Organization Size
7 Global Facility Management Market, By Region
8 North America Facility Management Market Analysis and Forecast (2022-2027)
9 Europe Facility Management Market Analysis and Forecast (2022-2027)
10 Asia Pacific Facility Management Market Analysis and Forecast (2022-2027)
11 Latin America Facility Management Market Analysis and Forecast (2022-2027)
12 Middle East Facility Management Market Analysis and Forecast (2022-2027)
13 Competitive Analysis
14 Company Profiles
Companies Mentioned
- Oracle
- Sodexo
- Bureau Veritas
- IBM
- Facilities Management eXpress
- Causeway Technologies
- Spacewell International
- UpKeep Maintenance Management
- FacilityONE Technologies LLC
- zLink
For more information about this report visit https://www.researchandmarkets.com/r/xfg73n
