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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Facility Management Market Trends
The integration of artificial intelligence, machine learning, and IoT has been at the forefront of transforming facility management services. These technologies enable predictive maintenance, which anticipates and addresses issues before they become problematic, thereby reducing downtime and associated costs. Smart operations, facilitated by AI and machine learning, optimise building systems to enhance efficiency and service delivery.
The growing global emphasis on sustainability has significantly influenced the facility management market expansion. This trend involves adopting green practices such as implementing energy-efficient systems, reducing waste, and sourcing materials sustainably. The aim is to minimise the environmental footprint of facilities while complying with increasingly stringent regulatory requirements. Sustainable practices not only contribute to environmental conservation but also lead to significant cost savings over time, particularly through reduced energy and resource consumption.
Furthermore, data collected from IoT devices can be analysed using AI to optimise energy consumption, directly contributing to sustainability efforts. Predictive maintenance ensures that systems operate at peak efficiency, reducing unnecessary energy use and prolonging the life of equipment, which aligns with sustainability by minimising waste.
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