Facility Management Services Market 2023 – 2030 By Type (Outsourced, In-house),End-user (Commercial, Institutional, Public/Infrastructure, Industrial, Others),Service Type (Property, Cleaning, Security, Catering, Others), by Type (Outsourced, In-house) - Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional Footprints by MarketDigits
Industry : Information Technology | Pages : 187 Pages | Published On : Jul 2023
In 2020, the global facility management services market was valued at $1,253.30 billion, and it is projected to reach $2,525.10 billion by 2030, with a compound annual growth rate (CAGR) of 7.1% from 2023 to 2030. Facility management services play a crucial role in enhancing the value of buildings by providing maintenance support solutions. These services also offer property owners higher returns on their real estate investments through effective management and value-added solutions. By supporting operational and financial objectives, facility management services encompass various applications such as security, plumbing, landscaping, electrical solutions, and cleaning.
The growth of the global facility management services market is driven by factors such as industrialization and urbanization. As urban areas become more commercialized, the demand for increased productivity and lower maintenance in corporate offices rises, contributing to market growth. Furthermore, the construction of residential and non-residential buildings, including large-scale projects, necessitates significant investments and requires maintenance services to ensure the longevity of the structures. This further propels the growth of the facility management services market. Additionally, organizations are increasingly recognizing the importance of managing assets and properties efficiently due to the high investments involved, thereby boosting market growth.
However, the facility management services market faced challenges during the COVID-19 pandemic due to restrictions on commercial and institutional spaces, as well as limitations on social gatherings and public events, which impacted the market negatively.
Moreover, developing countries like Africa and Chile face a shortage of educated workforce compared to other developing nations. This limited awareness about the benefits of facility management services acts as a hindrance to market growth. Additionally, organizations are opting for outsourced facility management over in-house management due to lower maintenance and operational costs, which further restricts the growth of the facility management services industry.
Furthermore, the outbreak of the COVID-19 pandemic severely affected industries such as construction, manufacturing, hospitality, and tourism. Manufacturing activities were halted or limited, and the construction and transportation sectors, along with their supply chains, experienced disruptions on a global scale. This decline in manufacturing and demand for facility management services restrained market growth. However, as industries gradually resume their regular operations, facility management services companies are recovering and returning to full-scale capacities, leading to the market's recovery by mid-2023.
In contrast, governments worldwide are implementing various initiatives to promote the construction of smart infrastructure, which results in increased investment in projects such as commercial buildings, railways, and infrastructure. This surge in investment leads to a higher demand for maintenance services. Additionally, technology continues to advance, providing smarter solutions for security services. Consequently, the combination of technological advancements and increased government investments presents opportunities for the facility management services market.
The market is categorized based on service type, type, end user, and region. Service types include property management, cleaning, security, catering, and others. Types are divided into outsourced and in-house management. End users comprise commercial, institutional, public/infrastructure, industrial, and others.
Regionally, the analysis of the facility management services market covers North America (the U.S., Canada, and Mexico), Europe (the UK, France, Germany, Italy, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa). In 2020, Asia-Pacific held the largest share in the global facility management services market, while LAMEA is projected to take a leading position during the forecast period.
Regarding service types, the property management segment dominated the market in 2020 in terms of revenue, while the others segment is expected to witness the highest growth rate during the forecast period. In terms of management type, the in-house segment led the facility management services market in 2020. However, the outsourced segment is expected to exhibit the highest growth rate in the near future. Commercial buildings were the primary end user segment in 2020, in terms of revenue, while the others segment is expected to register the highest growth rate during the forecast period. In terms of regions, Asia-Pacific generated the highest revenue in 2020. However, LAMEA is anticipated to exhibit the highest growth rate during the forecast period.
Prominent players in the facility management services industry include Group Atalian (Arthur McKay & Co Ltd.), BVG India Ltd., CBRE Group, Inc., EMCOR Group, Inc., ISS World Services A/S, Knight Facilities Management, Quess Corp Ltd., Sodexo, Inc., Downer Group (Spotless Group), and Tenon Group. These companies have implemented acquisition, partnership, and agreement strategies to enhance their products and services for customers in the market.
Key Benefits for Stakeholders
• This report offers a quantitative analysis of market segments, current trends, estimations, and dynamics in the facility management services market from 2020 to 2030, providing insights into the prevailing market forecast.
• The research provides information on key drivers, restraints, and opportunities in the market.
• Porter's five forces analysis assesses the bargaining power of buyers and suppliers, enabling stakeholders to make informed business decisions and strengthen their supplier-buyer relationships.
• In-depth analysis of market segmentation helps identify existing market opportunities.
• The revenue contribution of major countries in each region to the global market is mapped.
• Market player positioning allows for benchmarking and a clear understanding of the current market positions of key players.
• The report analyzes regional and global facility management services market trends, key players, market segments, application areas, and market growth strategies.
Facility Management Services Market Report Highlights
By Service Type
• North America (U.S., Canada, Mexico)
• Europe (France, U.K., Italy, Rest of Europe, Germany)
• Asia-Pacific (China, Japan, India, South Korea, Rest Of Asia Pacific)
• LAMEA (Latin America, Middle East, Africa)
Key Market Players
Downer Group (Spotless Group), Tenon Group, Quess Corp Ltd, ISS World Services A/S, Group Atalian (Arthur McKay & Co Ltd.), Knight Facilities Management, BVG India, CBRE Group, Inc., Sodexo, Inc., EMCOR Group, Inc.
Table and Figures
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