Facility Management Market Factors Driving Growth And Overcoming Challenges To Achieve USD 119.4 Billion By 2030


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Facility Management Market

An increase in adoption of cloud-based solutions and change in organizational culture and work style boost the growth of the global facility management market.

PORTLAND, PORTLAND, OR, UNITED STATES, June 6, 2023/einpresswire.com / -- According to the report published by Allied Market Research, the global facility management market generated $39.9 billion in 2020 and is projected to reach $119.4 billion by 2030, growing at a CAGR of 11.8% from 2021 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.

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An increase in the number of small and medium enterprises (SMEs) across the globe, a surge in the adoption of innovative technologies such as cloud-based solutions, and a rapidly transforming organizational culture and work style are expected to drive the growth of the global facility management market. On the other hand, a lack of awareness about facility management solutions among people is predicted to hinder growth to some extent. However, the rise in demand for service outsourcing is anticipated to create massive opportunities for the growth of the industry.

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COVID-19 Scenario:

.The outbreak of COVID-19 has had a positive impact on the growth of the global facility management market, owing to the prevalence of lockdowns in various countries across the globe.

.Lockdowns significantly increased the demand for facility management as teams were required to ensure and maintain a productive, safe and a hygienic environment.

.In addition, facility management staff were required to create new cleaning and disinfection solutions that further surged the demand for facility management during the pandemic.

The report offers detailed segmentation of the global facility management market based on component, solution type, deployment model, enterprise size, industry vertical, and region.

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Based on components, the solution segment held the largest market share in 2020, holding nearly three-fifths of the total facility management industry. The service segment, on the other hand, is anticipated to cite the fastest CAGR of 12.8% during the forecast period.

By deployment model, the on-premise segment held the majority share in 2020, garnering more than three-fifths of the total market. The cloud segment, on the other hand, is predicted to exhibit the fastest CAGR of 13.0% during the forecast period.

By region, the market across North America held the lion' share in 2020, accumulating more than one-third of the total market. The Asia-Pacific region, on the other hand, is expected to cite the fastest CAGR of 13.3% during the forecast period.

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The key players analyzed in the global facility management report include CA Technologies, iOFFICE, FM System, IBM Corporation, Accruent, Archibus, Oracle Corporation, PLANON, Trimble Inc. and SAP SE.

KEY BENEFITS FOR STAKEHOLDERS:

.The study provides an in-depth analysis of the global facility management market forecast along with current & future trends to explain the imminent investment pockets.

.Information about key drivers, restraints, & opportunities and their impact analysis on global facility management market trends is provided in the report.

.The Porter's five forces analysis illustrates the potency of the buyers and suppliers operating in the industry.

.Quantitative facility management market analysis from 2021 to 2030 is provided to determine the market potential.

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Lastly, this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

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