The overall facility management market globally registered a market value of US$ 33.60 billion in 2018 and is set to grow with a CAGR of 13.60% over the forecast period.
Facility Management (FM) is defined as a combination of management techniques for different businesses for building management, infrastructure management and also for the overall management of the work environment within an organization. Management thus improves productivity and reduces operating costs. Urbanization has led to rapid expenditure on infrastructure, which is considered to be one of the main drivers of market growth. In addition, rising energy-efficient facilities and process optimisation also contribute to the growth of the market.
Based on end-users, the facility management market has been segmented as BFSI, IT and Telecom, Government, Healthcare, Education, Retail, Energy and Utilities, Manufacturing, Construction, and Others. BFSI segments are the dominant segment with a market share of more than 22.0 % in 2018 and are expected to dominate the market during the forecast period. The BFSI segment maintains a number of facilities across the country, region or globally to serve the customer with proper service. In order to maintain proper service, the facilities management plays a key role in the management of maintenance, investment and others.
Europe had the second largest market share in the facility management market. It is expected that the region will grow with a significant CAGR during the forecast period. The market in the region is expected to be driven by the presence of different industries and businesses in the region, such as BFSI, manufacturing units, IT & Telecommunication, construction and others. In addition, increasing awareness of the benefits of facility management also contributes to the growth of the market. Based on the countries, Germany has the largest market share in the region due to the presence of automotive, pharmaceutical, manufacturing and electronics companies in the country supporting the market for facility management.
Some of the prominent players operating in the facilities management market include CA Technologies, Archibus Inc., FM System Inc., iOffice Corporation, IBM Corporation, Oracle Corporation, SAP SE, Planon Corporation, Satnav Technologies, Indus Systems, Trimble Navigation Ltd, and Autodesk Inc.