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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Facility Management Market Size
The global facility management market reached a value of about USD 1,599.27 billion in 2023. The market is further expected to grow at a CAGR of 3.6% in the forecast period of 2024-2032, to reach a value of approximately USD 2,198.52 billion by 2032.
Key Takeaways
- North America, being the largest data centre market region, is expected to extensively utilise energy and utility management services owing to the high power consumption.
- Major companies, such as Intel, Microsoft, and Nike , among others, are increasingly shifting manufacturing facilities from China to other regions, including Europe, Southeast Asia, and Latin America.
- The rapid adoption of renewable energy sources such as natural gas and solar PV is expected to surge the demand for energy and utility management services.
Facility management, often abbreviated as FM, is the practice of providing efficient and effective delivery of support services, such as asset tracking and management, space optimisation, system of record, cost analysis, and integration, to an organisation that it serves. It allows a workplace to run at maximum efficiency by integrating people, places, processes, and technology. It enhances the productivity of the core business and maximises the functionality, comfort, and efficiency of the built environment.
The dramatic change in workplace design and work culture is one of the major factors driving the facility management market growth globally. There has been an increased focus of organisations on optimisation processes and energy efficiency improvements.
Additionally, the growing urbanisation and the rising investments in infrastructure projects, particularly in developing nations, are also aiding the market growth. Over the forecast period, a surge in the adoption of digital technologies is expected to compel facility management providers to focus on the integration of digital technologies. Further, the growing preference for integrated facility management (IFM) services is expected to be a major facility management market trend in the coming years.
Facility Management Market Report Snapshots
Facility Management Market Size
Facility Management Market Trends
Facility Management Market Regional Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the market attained a value of approximately USD 1,599.27 billion.
The market is projected to grow at a CAGR of 3.6% between 2024 and 2032.
The market is estimated to witness healthy growth in the forecast period of 2024-2032 to reach about USD 2,198.52 billion by 2032.
The growth of the market is driven by the inclusion of changes in workplace designs and work culture, rising focus on enhancing efficiency and improving workflow, growing construction activities, and rising infrastructural investments.
The key trends guiding the growth of the market include the growing adoption of integrated facility management (IFM) and the rising shift towards digital technologies.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The leading types of facility management in the market are in-house and outsourced.
The key players in the market are CBRE Group, Inc., Compass Group, Jones Lang LaSalle Inc., Dusters Total Solutions Services Pvt. Ltd, BVG India Limited, ISS Facility Services India Pvt. Ltd., Cushman & Wakefield, Inc., Sodexo, Mace Group, and Flexim Group SA, among others.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124