Dublin, Aug. 31, 2020 (GLOBE NEWSWIRE) -- The "Facility Management Market by Offering (Solutions (IWMS, BIM, Facility Operations and Security Management, Facility Property Management) and Services), Deployment Type, Organization Size, Vertical (BFSI, Retail), and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The global facility management market is projected to grow from USD 39,555 million in 2020 to reach USD 65,532 million by 2025, at a compound annual growth rate (CAGR) of 10.6%.
The major factors driving the growth of the facility management market include an increase in demand for cloud-based facility management solutions, rise in demand for integrated facility management and intelligent software, need to comply with economic and regulatory regulations, increase in adoption of Internet of Things (IoT) along with analytics and Artificial Intelligence (AI), and shift in office environments and workplace.
By component, services segment to grow at a higher CAGR during the forecast period
Services are considered an important component of the facility management market, as they majorly focus on improving business processes and optimizing facility operations. Additionally, management industry experts consult clients about the weak links in their facilities and suggest solutions that would suit their business needs. Facility management services help organizations across various verticals effectively improve the performance and agility of their facilities. Sustained cost savings is a crucial aspect for the successful management of facilities. Vendors offering facility management services assess the expense and design of solutions to streamline and improve the efficiency of facilities. The service segment broadly comprises deployment and integration, consulting, auditing and quality assessment, support and maintenance, and SLA management services.
By solution, Integrated Workplace Management System (IWMS) segment to grow at a higher CAGR during the forecast period
IWMS is an integrated solution that supports processes in facility management and real estate management. IWMS provides an extensive range of facility management tools under a single, unified software platform. It increases visibility, control, and automation of enterprise real estate management, capital project, space management, facility maintenance, and energy management requirements. IWMS often has to be integrated with various IT solutions, such as Enterprise Resource Planning (ERP), Human Resources (HR), and Building Management System (BMS), as these systems contain data that is relevant for facility management processes. IWMS helps facility managers connect the external providers to the facility processes, by giving them access to the authorized functions in the IWMS.
By deployment type, On-premises segment to lead the market during the forecast period
The on-premises deployment type refers to the installation of software and solutions in the premises of organization. The organization is responsible for maintaining the solution and all its related processes. The deployment of on-premises facility management solutions requires dedicated infrastructure and servers. Organizations that can afford to manage dedicated servers, usually deploy on-premises solutions. The on-premises deployment type also offers offline data analytics and configuration and provides better control over systems and data. The on-premises deployment of facility management solutions requires dedicated IT staff for the maintenance and support of the high-end IT infrastructure.
North America to lead the market share in 2020
North America is projected to lead the facility management market during the forecast period. The presence of economically and technologically advanced countries such as the US and Canada, the adoption of new and emerging technologies, and strong financial position are some of the major factors that help organizations in North America have a competitive edge over others.
The region consists of developed countries with well-established infrastructures, which help generate huge demand for facility management solutions. Enterprises in the government and public administration vertical are also adopting facility management solutions, and the vertical would provide high opportunities for the growth of the facility management market during the forecast period. Moreover, the growing penetration of cloud platforms has increased the demand for cloud facility management solutions.
In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, innovation and technology directors, and executives from various key organizations operating in the facility management market.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in Facility Management Market
4.2 North America Facility Management Market, by Offering and Country, 2020
4.3 Facility Management Market, by Offering, 2020
4.4 Facility Management Market, by Service, 2020
4.5 Facility Management Market, by Deployment Type, 2020
4.6 Facility Management Market, by Organization Size, 2020 Vs. 2025
4.7 Facility Management Market, by Vertical, 2020
4.8 Facility Management Market: Major Countries
5 Market Overview and Industry Trends
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Surging Demand for Cloud-Based Facility Management Solutions
5.2.1.2 Rising Demand for Facility Management Solutions Integrated With Intelligent Software
5.2.1.3 Growing Focus of Enterprises to Comply With Regulatory Policies
5.2.1.4 Increasing Adoption of IoT and Ai in Facility Management Solutions
5.2.1.5 Growing Inclination to Use Advanced Technologies to Maintain Sustainability at Workplaces
5.2.2 Restraints
5.2.2.1 Lack of Managerial Awareness and Standardization
5.2.3 Opportunities
5.2.3.1 Growing Trend of Outsourcing Facility Management Operations
5.2.3.2 Increasing Focus on Integrating Bim With Facility Management Solutions
5.2.4 Challenges
5.2.4.1 Integration of Facility Management With Legacy Erp Systems
5.2.4.2 Dearth of Skilled or Expert Workforce
5.3 Industry Trends
5.3.1 Value Chain Analysis
5.3.2 Ecosystem
5.3.3 Regulatory Bodies in Facility Management Market
5.3.3.1 International Organization for Standardization (Iso) Standards
5.3.3.2 European Committee for Standardization (Cen)
5.3.3.3 British Standards Institution (Bsi)
5.3.3.4 Department of Corrections (Doc)
5.3.3.5 South African Bureau of Standards (Sabs)
5.3.4 Emerging Technologies
5.3.4.1 Drones
5.3.4.2 Machine Learning and IoT
5.3.4.3 Building Information Modeling
5.3.4.4 Augmented Reality
5.3.5 Facility Management, by Type
5.3.5.1 In-House Facility Management
5.3.5.2 Outsourced Facility Management
5.3.5.3 Integrated Facility Management
5.3.6 Industry Use Cases
5.3.6.1 Use Case 1: Trimble Space Scheduling Helped Withers Worldwide Meet Challenge of Increasing Demands for Space Bookings in Agile Global Workplace
5.3.6.2 Use Case 2: Accruent Helped Co-Operative Group to Strengthen Asset Monitoring, Preventative Maintenance, and Regulatory Compliance
5.3.6.3 Use Case 3: Ioffice Helped Abb to Standardize and Simplify Facility Operations
5.3.6.4 Use Case: Jadetrack Helped Sarnova to Identify Ways to Save Energy and Reduce Supplier Charges
6 Facility Management Market, by Offering
6.1 Introduction
6.2 Solutions
6.3 Services
7 Facility Management Market, by Deployment Type
7.1 Introduction
7.2 On-Premises
7.2.1 On-Premises: Market Drivers
7.2.2 On-Premises: Impact of Covid-19 on Market
7.3 Cloud
7.3.1 Cloud: Market Drivers
7.3.2 Cloud: Impact of Covid-19 on Market
8 Facility Management Market, by Organization Size
8.1 Introduction
8.2 Small and Medium-Sized Enterprises
8.2.1 Small and Medium-Sized Enterprises: Market Drivers
8.2.2 Small and Medium-Sized Enterprises: Impact of Covid-19 on Market
8.3 Large Enterprises
8.3.1 Large Enterprises: Market Drivers
8.3.2 Large Enterprises: Impact of Covid-19 on Market
9 Facility Management Market, by Vertical
9.1 Introduction
9.2 Banking, Financial Services, and Insurance
9.2.1 Banking, Financial Services, and Insurance: Market Drivers
9.2.2 Banking, Financial Services, and Insurance: Impact of Covid-19 on Market
9.3 It and Telecom
9.3.1 It and Telecom: Market Drivers
9.3.2 It and Telecom: Impact of Covid-19 on Market
9.4 Government and Public Administration
9.4.1 Government and Public Administration: Market Drivers
9.4.2 Government and Public Administration: Impact of Covid-19 on Market
9.5 Healthcare
9.5.1 Healthcare: Market Drivers
9.5.2 Healthcare: Impact of Covid-19 on Market
9.6 Education
9.6.1 Education: Market Drivers
9.6.2 Education: Impact of Covid-19 on Market
9.7 Retail
9.7.1 Retail: Market Drivers
9.7.2 Retail: Impact of Covid-19 on Market
9.8 Energy and Utilities
9.8.1 Energy and Utilities: Market Drivers
9.8.2 Energy and Utilities: Impact of Covid-19 on Market
9.9 Manufacturing
9.9.1 Manufacturing: Market Drivers
9.9.2 Manufacturing: Impact of Covid-19 on Market
9.10 Construction and Real Estate
9.10.1 Construction and Real Estate: Market Drivers
9.10.2 Construction and Real Estate: Impact of Covid-19 on Market
9.11 Others
10 Facility Management Market, by Region
10.1 Introduction
10.2 North America
10.3 Europe
10.4 Asia-Pacific
10.5 Middle East and Africa
10.6 Latin America
11 Competitive Landscape
11.1 Overview
11.2 Market Evaluation Framework
11.3 Key Market Developments
11.3.1 New Product Launches and Product Enhancements
11.3.2 Business Expansions
11.3.3 Partnerships, Agreements, and Collaborations
11.3.4 Mergers and Acquisitions
12 Company Evaluation Matrix and Company Profiles
12.1 Company Evaluation Matrix Overview
12.2 Company Evaluation Matrix Methodology and Definitions
12.2.1 Star
12.2.2 Emerging Leaders
12.2.3 Pervasive
12.3 Company Evaluation Matrix, 2020
12.4 Market Ranking
12.5 Company Profiles
12.5.1 Introduction
12.5.2 IBM
12.5.3 Oracle
12.5.4 Sap
12.5.5 Trimble
12.5.6 Accruent
12.5.7 Mri Software
12.5.8 Planon
12.5.9 Service channel
12.5.10 Service Works Global
12.5.11 Facilities Management Express (Fmx)
12.6 Startup/SME Evaluation Matrix Overview
12.7 Startup/SME Evaluation Matrix Methodology and Definitions
12.7.1 Progressive Companies
12.7.2 Responsive Companies
12.7.3 Dynamic Companies
12.7.4 Starting Blocks
12.8 Startup/Sme Evaluation Matrix, 2020
12.9 Startup/SME Profiles
12.9.1 Causeway Technologies
12.9.2 Fm: Systems
12.9.3 Spacewell
12.9.4 Ioffice
12.9.5 Fsi
12.9.6 Archibus
12.9.7 Archidata
12.9.8 Jadetrack
12.9.9 Upkeep Maintenance Management
12.9.10 Apleona
12.9.11 Facilityone Technologies
12.9.12 Officespace Software
12.9.13 Facilio
12.9.14 Efacility
12.9.15 Emaint
12.9.16 Axxerion USA
13 Appendix
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