The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

The Business Research Company’s Facility Management Services Global Market Report 2024 offers crucial insights into the facility management services market help businesses analyse and build stronger strategies.

The facility management services market has witnessed rapid growth, with projections reaching $1759.68 billion in 2024, boasting a Compound Annual Growth Rate (CAGR) of 14.0%. Smart city initiatives play a pivotal role in driving this growth, supported by innovative technologies and government investments.

• Increasing Smart City Initiatives:
  • Governments worldwide are investing in smart city initiatives to enhance urban living standards and optimize city services.
  • Facility management services contribute to smart cities by leveraging innovative technologies such as IoT and Big Data to optimize urban facility management.
  • For instance, the Government of India invested significantly in the smart city mission, driving demand for facility management services.
• Key Players:
  • Major companies like CBRE Group Inc., Sodexo Inc., and Compass Group PLC are at the forefront of providing innovative facility management solutions to support smart city initiatives.

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Innovations Shaping The Future Of Facility Management Services

Technological innovations are reshaping the landscape of facility management services, enabling companies to deliver enhanced solutions and experiences to clients.

• Saarthi-FX by Compass Group:
  • Compass Group introduced Saarthi-FX, a fully digital solution revolutionizing workplace interactions and facility management.
  • Leveraging artificial intelligence and predictive modeling, Saarthi-FX transforms conventional workspaces into tech-enabled environments, offering employees a smarter and safer workspace.

MRI Software Enhances Workplace Management Portfolio

In April 2021, MRI Software bolstered its workplace management portfolio by acquiring Trimble’s real estate and workplace software businesses, signaling a strategic move towards offering comprehensive solutions for commercial real estate owners and operators.

• Acquisition of Trimble:
  • MRI Software’s acquisition of Trimble’s real estate and workplace software businesses enhances its workplace management system.
  • This acquisition enriches MRI’s offerings with robust space scheduling, booking, and facilities management capabilities, catering to diverse real estate needs.

Market Segmentation and Regional Insights

The facility management services market features diverse segmentation based on components, service types, deployment modes, organization sizes, and industry verticals, reflecting its broad applicability and market dynamics.

• Segmentation Overview:
  1. By Component: Solutions, Services.
  2. By Service Type: Hard Services, Soft Services, Other Services.
  3. By Deployment Mode: Cloud, On-premises.
  4. By Organization Size: Small and Medium Enterprises (SMEs), Large Enterprise.
  5. By Industry Vertical: Healthcare, Government, Education, Military And Defense, Real Estate, Other Industry Verticals.
• Regional Dominance:

• • North America emerged as the largest region in the facility management services market in 2023, driven by technological innovation and demand for efficient facility management solutions.

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The Facility Management Services Global Market Report 2024  provides a comprehensive outlook of the facility management services market for the historic years (2010 – 2021) and ten years forecast (2023 – 2032). The facility management services market forecast offers a thorough analysis on facility management services market size, facility management services market share, prominent players and their strategies.

The Table Of Content For The Facility Management Services Market Include:

1. Facility Management Services Market Executive Summary
2. Facility Management Services Market Segments
3. Facility Management Services Market Size And Facility Management Services Market Growth Rate
4. Key Facility Management Services Market Trends
5. Major Facility Management Services Market Drivers
……
25. Key Mergers And Acquisitions In The Facility Management Services Market
26. Top Facility Management Services Companies
27. Facility Management Services Market Opportunities And Strategies
28. Facility Management Services Market, Conclusions And Recommendations
29. Appendix

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