The new report by Expert Market Research titled, ‘Global Integrated Facilities Management Market Price, Trends, Growth, Analysis, Report and Forecast 2021-2026’, gives an in-depth analysis of the global integrated facilities management market size, assessing the market based on its segments like end uses and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2016-2026)
• Historical Market Value (2016-2020): USD 1230 Billion (Global Facilities Management Market)
• Forecast CAGR (2021-2026): 4% (Global Facilities Management Market)
• Forecast Market Value (2021-2026): USD 1580 Billion (Global Facilities Management Market)
The integrated facilities management business is heavily influenced by the facilities management sector. Pharmaceutical, chemical, CPG, BFSI, crude, and gas are the largest end-user sectors for advanced facilities management, especially in North America. The region’s outsourcing rates are incredibly high, at about 60–70 percent. As a result, advanced facility administration has a very strong industry penetration in North America.
The growth of multinational companies, especially in the Asia Pacific region and parts of the Middle East and Africa, has increased demand for outsourced facilities management services. The Asia Pacific region is the fastest-growing market for outsourced facilities management services, and the region’s major economies, such as India and China, are projected to drive the demand even higher, resulting in the expansion of the integrated facilities management industry.
Industry Definition and Major Segments
Integrated facilities management (IFM) is a mechanism for bringing all of a company’s infrastructure and activities under the control of a single group of independent experts. It improves building efficiency and makes day-to-day activities much easier by streamlining teamwork and decision-making between corporate leaders and facilities managers.
Its goal is to build comfortable, welcoming environments where practitioners and customers can comply with government and industry legislation and requirements in order to maintain the quality and maintenance of systems and facilities, as well as to protect them as investments in order to ensure the safety of workers and the facility itself.
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Integrated facilities management finds its end uses in:
The regional markets for the product include:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
The global integrated facilities management industry is largely driven by the growing facilities management market. The implementation of an integrated facilities management approach and the expansion of facilities management procurement has resulted in an improvement in the number of customers and strengthened supplier relationships.
Rising construction activity, as well as the development of commercial land, is fuelling the market expansion, especially in Latin America and the Asia Pacific. Construction and real estate have thrived as a result of improving economic conditions in developed countries and large-scale industrial growth, resulting in increased demand for outsourced facilities management services.
The market is also growing due to an increase in the number of multinational corporations, especially in the Asia Pacific and parts of the Middle East and Africa.
Key Market Players
The major players in the market are Jones Lang LaSalle, IP, Inc., Sodexo, ISS Facility Service, CBRE, Compass Group PLC, and Cushman & Wakefield, among others.
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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