$59 Billion Facility Management Market, 2023 by Solution (IWMS, BIM, Operations & Security, Environment, Property Management) & Service (Auditing & Quality Assessment, SLA Management)

6/1/2018, 2:56 PM (Source: GlobeNewswire)

Dublin, June 01, 2018 (GLOBE NEWSWIRE) -- The "Facility Management Market by Solution (IWMS, BIM, Operations & Security, Environment, Property Management), Service (Auditing & Quality Assessment, SLA Management), Deployment Type, Organization Size, Vertical, and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.

The global facility management market size is expected to grow from USD 34.65 billion in 2018 to USD 59.33 billion by 2023, at a CAGR of 11.4% during the forecast period.

Growth in the development of sustainable infrastructure and in the adoption of IoT and connected devices for building automation is a major driving factor for the facility management market. An increasing need to meet environmental and regulatory compliance is also driving the facility management market. However, lack of managerial awareness and dependency on the in-house facility management team could be a major restraining factor for the market growth.

Waste management solutions enable facility management teams to weigh and manage multi-stream wastes from a wide range of buildings and facilities, such as office blocks, hospitals, hotels and restaurants, universities, retail stores, care homes, airports, and exhibition centers. These solutions help facility management teams precisely monitor different waste streams, such as chemicals, food, plastics, ink, batteries, and papers, in facilities.

Video surveillance is a vital tool for protecting and securing people and facilities, round the clock. Increasing number of threats has resulted in the deployment of surveillance systems that provide situational awareness around critical facilities. Education institutes, hotels, and government offices have to protect their entry and exit points to prevent vandalism and avoid authorization issues. Video surveillance solutions simplify the management of large numbers of hardware devices, such as cameras and sensors. They also automate the configuration of security devices. These solutions can automatically create an alert with the picture of the intruder and send it to the registered devices.

North America is the largest contributor to the facility management market in terms of market size, as it is a technologically advanced region. The top countries contributing to the facility management market in this region are the US and Canada. Enterprises in the government and public administration vertical are also adopting facility management solutions, and the vertical would provide high growth opportunities in the facility management market during the forecast period. The development of the North American facility management market can also be attributed to the increase in the number of public-private partnership projects in the region. Growing redevelopments in the existing facilities and rising population have increased the burden on the existing facilities.

The MEA region comprises major economies, such as the United Arab Emirates (UAE), the Kingdom of Saudi Arabia (KSA), Qatar, Israel, and South Africa, which are expected to register high growth in the facility management market. The region has witnessed high adoption of tech-savvy solutions across various verticals. Mega infrastructure developments, such as Mohammed Bin Rashid City, Dubai Creek Harbor, Dubai Expo Site in UAE, Jazan Industrial City in KSA, QP District, and Doha Festival City in Qatar, have created opportunities for facility management providers in the MEA region.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Attractive Market Opportunities in the Facility Management Market
4.2 Market By Vertical and Region
4.3 Market By Region
4.4 Market: Investment Scenario

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers Need to Maintain Environmental and Regulatory Compliance Increasing Demand for Integrated Facility Management to Achieve Economies of Scale Changing Focus to Virtual Workplace and Mobility Increasing Development of the Sustainable Infrastructure Emergence of the Saas Deployment Model Growing Adoption of IoT and Connected Devices for Building Automation
5.2.2 Restraints Lack of Managerial Awareness and Dependency on the In-House Facility Management Team
5.2.3 Opportunities Integration of Bim With Facility Management Solutions Implementation of the Digital Twin Technology for Facility Asset Management
5.2.4 Challenges Integration of Facility Management With Legacy ERP Systems Lack of Skills and Expertise
5.2.5 Facility Management, By Type In-House Facility Management Outsourced Facility Management Integrated Facility Management
5.2.6 Technology Trends Cognitive Computing IoT and Analytics Augmented Reality Robotics and Drones
5.2.7 Standards and Guidelines for Facility Management International Organization for Standardization (ISO) British Standards Institution (BSI) European Committee for Standardization (CEN) FMMS South African Bureau of Standards (SABS)

6 Facility Management Market, By Solution
6.1 Introduction
6.2 Integrated Workplace Management System
6.3 Building Information Modeling
6.4 Facility Operations and Security Management
6.4.1 Lighting Control
6.4.2 HVAC Control
6.4.3 Video Surveillance and Access Control
6.4.4 Emergency and Incident Management
6.5 Facility Environment Management
6.5.1 Sustainability Management
6.5.2 Waste Management
6.6 Facility Property Management
6.6.1 Lease Accounting and Real Estate Management
6.6.2 Asset Maintenance Management
6.6.3 Workspace and Relocation Management
6.6.4 Reservation Management

7 Facility Management Market, By Service
7.1 Introduction
7.2 Deployment and Integration
7.2.1 System Integration
7.2.2 Implementation
7.3 Consulting
7.3.1 Facility Operations Consulting
7.3.2 Financial Consulting
7.3.3 Facility Technology Consulting
7.4 Auditing and Quality Assessment
7.5 Support and Maintenance
7.5.1 On-Demand Maintenance
7.5.2 Preventive Maintenance
7.5.3 Predictive Maintenance
7.6 Service Level Agreement Management

8 Facility Management Market, By Deployment Type
8.1 Introduction
8.2 On-Premises
8.3 Cloud

9 Market By Organization Size
9.1 Introduction
9.2 Small and Medium-Sized Enterprises
9.3 Large Enterprises

10 Facility Management Market, By Vertical
10.1 Introduction
10.2 Banking, Financial Services, and Insurance
10.3 IT and Telecom
10.4 Government and Public Administration
10.5 Healthcare
10.6 Education
10.7 Retail
10.8 Energy and Utilities
10.9 Manufacturing
10.10 Construction and Real Estate
10.11 Others

11 Facility Management Market, By Region

12 Competitive Landscape
12.1 Overview
12.2 Market Ranking Analysis
12.3 Competitive Scenario
12.3.1 New Product Launches
12.3.2 Business Expansions
12.3.3 Mergers and Acquisitions
12.3.4 Agreements, Collaborations, and Partnerships

13 Company Profiles
13.1 IBM
13.2 Oracle
13.3 SAP
13.4 Archibus
13.5 Trimble
13.6 CA Technologies
13.7 Accruent
13.8 Planon
13.9 FM:Systems
13.10 Ioffice
13.11 Maintenance Connection
13.12 MCS Solutions
13.13 Jadetrack
13.14 Metricstream
13.15 Facilities Management Express
13.16 Emaint
13.17 Hippo Cmms
13.18 Apleona
13.19 FSI
13.20 Indus Systems
13.21 Autodesk
13.22 Nemetschek
13.23 Archidata
13.24 Officespace
13.25 Facilityone Technologies

For more information about this report visit https://www.researchandmarkets.com/research/hzrm3b/59_billion?w=12

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