Facility Management Solution Market Key Opportunities Forecast up to 2028 – The Insight Partners.

Posted by niket gore on July 26th, 2022

 Facility Management Solution Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Component, Deployment, Enterprise Size, Application, and Geography,” the market was valued at US$ 768.71 million in 2021 and is projected to reach US$ 1,418.85 million by 2028; it is expected to grow at a CAGR of 9.2% from 2021 to 2028.

 Facility management comprises tasks such as equipment maintenance, space planning, and portfolio forecasting. Emergency preparedness and business continuity, environmental sustainability, human aspects, communication, project management, quality, real estate and property management, and leadership and strategy are also the part of facility management. The growth of the facility management solution market can be attributed to the increasing spending on infrastructure, and growing emphasis on process optimization and energy efficiency improvements. Real estate, manufacturing, retail, and the public sector are a few of the sectors that have seen significant infrastructure development. Due to the rising requirement to integrate data from operational facilities to other business applications, these verticals are the key end-customers of the facility management solutions market.

 

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Growing Infrastructure Sector Boost the Demand for Facility Management Solution Market

Governments across the world invest in infrastructure growth. For instance, in Union Budget 2021 of India, the country’s government gave a massive push to the infrastructure sector by allocating US$ 32.02 billion to enhance the transport infrastructure. The government increased the National Infrastructure Pipeline to 7,400 projects. Approximately 217 projects worth US$ 15.09 billion were completed as of 2020. Through the National Infrastructure Pipeline, the government invested US$ 1.4 trillion in infrastructure development as of July 2021. Further, as per the Department for Promotion of Industry and Internal Trade, FDIs in the construction development sector (townships, housing, built-up infrastructure, and construction development projects) and construction activities stood at US$ 26.14 billion and US$ 25.38 billion, respectively, between April 2000 and June 2021. In FY21, infrastructure activities accounted for a 13% share of the total FDI inflows of US$ 81.72 billion. Also, there are several investments observed in the construction of railways, ports, and airports.

Significant growth in the real estate sector due to the rising focus on a safe, clean, and secure environment is one of the primary factors bolstering the growth of the facility management solution market. Additionally, the growing concept of a green building along with the enactment of the Real Estate (Regulation and Development) Act 2016, which protects home buyers and helps boost the real estate sector, stimulates the facility management solution market growth.

Key Findings of Study:

Geographically, the facility management solution market is segmented into five key regions—North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SAM). North America held the largest revenue share in 2020, followed by Europe and APAC. Based on deployment, the market is bifurcated into on-premise and cloud-based. The cloud-based segment contributed a larger revenue share in 2020.  Based on enterprise size, the facility management solution market is bifurcated into small and medium enterprises, and large enterprises. In 2020, the large enterprises segment led the market globally.

One of the key factors of the facility management solution market's growth can be attributed to greater spending on infrastructure. Furthermore, the growing emphasis on process optimization and energy efficiency improvements are the primary driving drivers behind the growth of the facility management industry. Real estate, manufacturing, retail, and the public sector are just a few of the industry sectors that have seen significant infrastructure development. Because of the rising requirement to integrate data from operational facilities into other business applications, these verticals are the key end-customers of facility management solutions.

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Reason To Buy:-

  • Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global facility management solution market.
  • Highlights key business priorities in order to assist companies to realign their business strategies
  • The key findings and recommendations highlight crucial progressive industry trends in the global facility management solution market, thereby allowing players across the value chain to develop effective long-term strategies
  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
  • Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it
  • Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution

List of 10 Companies

  • Axonator Inc.
  • Facilitron, Inc.
  • FacilityBot Pte Ltd
  • FM:Systems
  • Hippo CMMS
  • IBM Corporation
  • Infraspeak
  • Quickbase, Inc.
  • ServiceChannel
  • Upkeep Maintenance Management

About Us:

The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

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Contact Person: Sameer Joshi

E-mail: sales@theinsightpartners.com

Phone: +1-646-491-9876

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niket gore
Joined: July 6th, 2022
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