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Facility Management Services Market Dynamics: Global Size and Share Analysis 2023-2032
Facility Management Services Market
The Business Research Company's Facility Management Services Global Market Report 2023 identifies Increasing smart city initiatives as the major driver for the Facility Management Services market's growth in the forecast period. Several government initiatives are being introduced by various countries for the development of smart cities. Facility management services support smart cities by providing innovative information and communication technologies (ICTs) to the field of Urban Facility Management (UFM) and new possibilities for optimizing existing services and for developing new services based on the Internet of Things (IoT), Big Data
The global facility management services market is expected to grow from $1,361.71 billion in 2022 to $1,562.42 billion in 2023 at a compound annual growth rate (CAGR) of 14.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global facility management services market is expected to reach $2,557.57 billion in 2027 at a CAGR of 13.1%.
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Major competitors in the Facility Management Services market are Atalian Servest AMK Limited, BVG India Limited, CBRE Group Inc., EMCOR Group Inc., ISS A/S World, Knight FM.
A key trend in the Facility Management Services market includes technological innovations. Companies are expanding their service portfolios by integrating technologies into their offerings. Large businesses frequently use innovative technologies, such as BIM (Building Information Modeling), to deliver hard and soft services, enabling them to offer better and upgraded services. For instance, in March 2022, Compass Group, a UK-based company operating in facility management services, introduced Saarthi-FX, a fully digital one-stop solution. This solution reimagines workplace interactions with facility management and seeks to transform the conventional workspace through artificial intelligence and predictive modeling to improve office asset management and offer employees a smarter, safer, and more effective workspace.
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The Facility Management Services market is segmented -
• By Service Type: Hard Services, Soft Services, Other Services
• By Component: Solutions, Services
• By Deployment Mode: Cloud, On-premises
• By Organization Size: Small and Medium Enterprises (SMEs), Large Enterprise
• By Industry Vertical: Healthcare, Government, Education, Military And Defense, Real Estate, Other Industry Verticals
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Facility Management Services market.
The Business Research Company's "Global Facility Management Services Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Facility Management Services Market Include:
1. Executive Summary
2. Facility Management Services Market Characteristics
3. Facility Management Services Market Trends And Strategies
4. Facility Management Services Market - Macro Economic Scenario
5. Facility Management Services Market Size And Growth
………………………………………………………………………
26. Africa Facility Management Services Market
27. Facility Management Services Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Facility Management Services Market
29. Facility Management Services Market Future Outlook and Potential Analysis
30. Appendix
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