logo
logo
Sign in

Facility Management Market Dynamics, Companies, Regions and Forecast to 2022 | COVID-19 Effects

avatar
Ehtesham Peerzade

Market Highlights

Facility management primarily is a method of handling different modes and functionalities of an enterprise and makes sure about sleek operation of the developed environment. It brings together people, methodologies, and technicalities to help the companies concentrate on their primary strengths. The core domains of competency-primarily range from finance, communication, to property management. Various advantages of facility management in comparison to traditional method makes the international facility management market highly established. Facility management also makes things significant from a market perspective. 

Facility management enables business groups to analyze various insights about scopes provided. It helps them in providing effective business decisions. This is touted as one of the foremost reasons behind established facility management market. Business groups are quite convinced that facility management encourages smart working upon applying smart IT systems. It is also quite effective in terms of integrating crucial data concerned with business in a single platform. Through the process, utmost complacency can be maintained. Moreover, these aspects establish facility management market.

Various advantages of facility management make it significant from cost perspectives, which is a foremost reason behind the greater adoption of facility management market. Prime factor that drives growth of the facility management market is the transforming professional scenario of the companies. There are also other aspects like growing technology market that contribute towards the greater establishment of facility management market. Apart from these, a growing number of real estate properties and increasing focus towards space management are also prominent factors contributing towards growth of facility management market.

Segmentation:

International facility management market size can be segmented based on services, in terms of deployment, and terms of end-users. Based on services, the global facility management market can be segmented into project management, inventory management, maintenance management, operation management, etc. Based on deployment, international facility management market can be classified into on-premise and cloud. In terms of end-users, the international facility management market can be classified into healthcare, retail, manufacturing, real estate, BFSI, IT and telecom, government, and others. Market is expected to grow at CAGR 13 percent during forecast period of 2016 to 2022. 

Regional Analysis

Based on region, international facility management market can be segmented into North America, South America, Asia Pacific, Europe, and rest of the world. Among these, North America is touted to be the most dominating during forecasted year of 2016 to 2022. It is the higher technology adoption that has enabled North America as one of the prominent markets. Asia Pacific comes next in terms of market size but will be the fastest-growing market in this segment, mostly due to the transforming market scenario. A greater rate of cloud deployment can also be cited as one of the prime reasons behind this.      

Industry News

Industrial facility management market reportedly will grow at a CAGR of more than 13 percent between the forecast period of 2016 and 2022. Reports suggest that Asia Pacific will be the fastest-growing domain in this segment of industrial facility management.

Also Read: http://www.marketwatch.com/story/facility-management-market-analysis-investment-opportunities-industry-size-share-growth-forecast-and-competitor-strategies-2020-04-24 

collect
0
avatar
Ehtesham Peerzade
guide
Zupyak is the world’s largest content marketing community, with over 400 000 members and 3 million articles. Explore and get your content discovered.
Read more