LONDON — (BUSINESS WIRE) — September 27, 2019 — The global facilities management market size is poised to grow by USD 678.16 billion during 2019-2023, according to a new report by Technavio, progressing at a CAGR of 12% during the forecast period.
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Technavio has announced its latest market research report titled global facilities management market 2019-2023. (Graphic: Business Wire)
Read the 114-page research report with TOC on "Facilities Management Market Analysis Report by end user (commercial, government, and residential) and geography (Americas, APAC, and EMEA) 2019 - 2023" at:
The market is driven by the growing demand for cloud-based facility management solutions. Also, the increasing demand for smart facilities is anticipated to further boost the growth of the market during the forecast period.
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Cloud-based solutions offer a reliable means of hosting facilities management software. They can also help in reducing the operating costs of organizations, as they enhance security and collaboration among teams and subsidiaries present in multiple locations. Secure hosting of critical data, improved security and scalability, and quicker disaster recovery are some of the other advantages of cloud-based facility management solutions. Backups are stored on a shared or private cloud host platform which allows companies to recover critical server data easily. The data can be easily accessed anywhere in the world with a stable internet connection via secure logins. Cloud-based facility management solutions also enhance customer satisfaction and decrease repair and maintenance costs. These benefits have resulted in the increasing use of cloud-based solutions for integrating facility management services, thus, driving the market growth.
Furthermore, a significant increase in digitization of buildings and facilities have increased the demand for integrating intelligent solutions and intelligent software such as space management software, BIM. The integration of BIM with facility management software enables organizations to streamline the transition from construction to building operation, derive cost savings, and improve carbon performance in the long term, through the use of open, share able asset information. Also, the rising demand for energy efficient infrastructure is another factor that is expected to drive the market, thereby contributing largely to the overall market.
To find out more about Facilities Management Market Research 2019-2023, https://www.technavio.com/talk-to-us?report=IRTNTR30251
The report includes detailed profiles of the leading companies & prominent vendors of the market:
- OCS Group
- Serco Group
Market Segmentation by Category and Product Types:
The Facilities Management Market can be broadly categorized into the following:
Key Regions for the Facilities Management Market:
Featuring a breakdown of region-wise market shares until 2019.
Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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