Pune, May 18, 2020 (GLOBE NEWSWIRE) -- The global facility management market size is likely to reach USD 1.74 Trillion by 2026, exhibiting a CAGR of 4.9% between 2019 and 2026. This is ascribable to factors such as rising infrastructure sector globally backed by increasing industrialization and urbanization. Fortune Business Insights, publish this information in its latest report, titled “Facility Management Market Size, Share & Industry Analysis, By Service Type (Hard Services, Soft Services, and Others Services), By Industry (Healthcare, Government, Education, Military & Defense, Real Estate and Others) and Regional Forecast, 2019-2026.” The report further mentions that the market size was worth USD 1.19 Trillion in 2018 and is expected to grow gradually in the forthcoming years.
Facility management is a type of service that covers multi-aspects of a business such as to ensure proper functioning, provide comfort and safety, and to ensure efficient work environment by deploying people, process, place, and technology. In addition to this, it accounts for several other aspects such as maintaining security, cleaning, and parking services within an organization. The service ensure that the work environment is in optimum condition to maintain smooth functioning of the business. Furthermore, it is an important aspect in several sectors such as government, healthcare, real estate, hospitality, and retail establishments, among others. For instance, today with facility management playing a pivotal role in maintaining efficient work conditions, Jones Lang LaSalle IP, Inc., has established itself as the biggest facility management service suppliers across the globe.
Get Sample PDF Brochure: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/facilities-management-market-101658
An Overview of the Impact of COVID-19 on this Market:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.
Click here to get the short-term and long-term impact of COVID-19 on this Market.
Please visit: https://www.fortunebusinessinsights.com/industry-reports/facilities-management-market-101658
What does the Report Include?
The market report includes an exhaustive study of several factors such as drivers, restraints, challenges, and opportunities that will affect the growth of the market in the forthcoming years. The report covers regional demographics that include qualitative and quantitative information about the regions that are further divided into nations that are contributing to the growth of the market between 2019 and 2026. Furthermore, the competitive landscape has been discussed in-depth that include information of several players operating in the market. Moreover, information on the adoption of strategies such as merger and acquisition, collaboration, partnerships, and joint ventures by the companies that will drive the growth of the market has been included during the projected horizon.
Drivers and Restraints:
Rising Infrastructure Sector to Drive the Market
Rapid Industrialization and Urbanization across several regions has facilitated the rise of several infrastructural projects worldwide. In addition to this, several federal government agencies are focusing on developing the infrastructures such as roads, railways, airports, and ports, among others. Furthermore, the governments are collaborating with several private players to ensure proper facility management services in constructing the infrastructures. For instance, according to the Ministry of Energy in Saudi Arabia, the country has planned to infuse a staggering USD 425 Billion to promote infrastructural and industrial programs in the coming decade. Increasing demand for efficient and clean infrastructure is expected to propel the growth of the market in the near future.
COVID-19 Crisis to Favor Massive Growth
The novel coronavirus has completely put brakes on several sectors owing to complete lockdown announced by the governments across the globe. However, industries such as facility and security management are turning out to be lifeline services amid the chaos caused by the novel coronavirus. The market has witnessed a tremendous surge in demand for efficient facility management, as it is being perceived as an essential means of services. For, instance, every small, medium, and large industries along with the public sector are ensuring proper maintenance of hygiene and security around them that is anticipated to bolster massive growth for the market in the forthcoming years.
Speak to Analyst: https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/facilities-management-market-101658
Segmentation:
Hard Services Registering a Significant 49.1% Market Share to Augur Growth
The sub-segment Hard Services (By Service Type) held the largest share of 49.1% in 2018 and is anticipated to rise exponentially during the forecast period. This is attributable to factors such as augmented growth in the infrastructural sectors across the globe. Furthermore, increasing demand for developing clean building that propels the rise of construction industry will bode well for the market growth of this segment during the forecast period.
Regional Analysis:
Presence of Major Players in Asia-Pacific to Stoke High Demand
Among the regions, Asia-Pacific is expected to hold highest global facility management market revenue and remain a dominant force during the forecast period. Additionally, the region was estimated to be valued USD 458.55 Billion in 2018 and is anticipated to further rise owing to the presence of major organized as well as unorganized players in the region. North America, on the other hand, is likely to register substantial growth for the market in the forthcoming years. This is attributable to factors such as presence of well-established players and even distribution of infrastructural sector that is witnessing constant development in the region. Furthermore, adoption of technology and rapid urbanization in developed countries such as the US will contribute for the market growth in the region between 2019 and 2026.
Competitive Landscape:
Product Expansion Strategies by the Companies to Augur Growth
In October 2019, CBRE, a prominent United States commercial real estate firm, announced its collaboration with Novartis International AG, a Swiss pharmaceutical company, to provide its assistance to transform the pharma’s real estate portfolio. CBRE is expanding its horizon through this collaboration and trying to consolidate its position in the highly competitive marketplace. Adoption of strategies such as product expansion offering, merger and acquisition, and collaboration by the companies will positively affect the growth of the market in the forthcoming years.
List of the Companies Operating in the Facility Management Market are:
- Sodexo
- CBRE Group, Inc.
- ISS A/S
- Compass Group
- Aramark
- Jones Lang LaSalle Incorporated
- Cushman & Wakefield plc.
- Tenon Group
- Johnson Controls International plc.
- AMEC Facilities
Quick Buy – Facilities Management Market Research Report: https://www.fortunebusinessinsights.com/checkout-page/101658
Detailed Table of Content
- Introduction
- Definition, By Segment
- Research Approach
- Sources
- Executive Summary
- Market Dynamics
- Drivers, Restraints and Opportunities
- Emerging Trends of Market
- Key Insights
- Macro and Micro Economic Factors
- Key Technological Developments
- Consolidated SWOT Analysis of Key Players
- Porter’s Five Forces Analysis
- Global Facilities Management Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Sizing Estimations and Forecasts – By Service Type (Value)
- Hard Services
- Soft Services
- Other Services
- Market Sizing Estimations and Forecasts – By Industry (Value)
- Healthcare
- Government
- Education
- Military & Defence
- Real Estate
- Others (IT & Telecommunication, BFSI, etc.)
- Market Analysis, Insights and Forecast – By Region (Value)
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Latin America
Get your Customized Research Report: https://www.fortunebusinessinsights.com/enquiry/customization/facilities-management-market-101658
Have a Look at Related Research Insights:
Hard Services Facility Management Market Size, Share & Industry Analysis, By Service Type (Outsourced and In-house), By Industry Vertical (Healthcare, Government, Education, Military & Defense, Real Estate and Others) and Regional Forecast, 2019-2026
Soft Services Facilities Management Market Size, Share & Industry Analysis, By Service Type (In-house and Outsourcing), By Industry Vertical (Healthcare, Government, Education, Military & Defense, Real Estate and Others) and Regional Forecast, 2019-2026
Industrial Mezzanines Market Size, Share & Industry Analysis, By Type (Prefabricated, Structured, Free-standing, Perimeter), By Number of Storey (Single – level, Multi – level), By Application (Processing Plants, Industrial Facilities and Warehouse, Distribution Center, Retails Stores, Office buildings), and Regional Forecast, 2019-2026
About Us:
Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.
Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.
At Fortune Business Insights™, we aim at highlighting the most lucrative growth opportunities for our clients. We therefore offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.
Contact Us:
Fortune Business Insights™ Pvt. Ltd.
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune-Bangalore Highway,
Pune - 411045, Maharashtra, India.
Phone:
US: +1-424-253-0390
UK: +44-2071-939123
APAC: +91-744-740-1245
Email: sales@fortunebusinessinsights.com
Fortune Business Insights™
LinkedIn | Twitter | Blogs
Read Press Release: https://www.fortunebusinessinsights.com/press-release/facilities-management-market-9359