(MENAFN- Alliance News) This market research report offers a comprehensive insight into the global Smart Facility Management market, providing detailed segmentation by component, service, type, and region. It identifies Schneider Electric, IBM, Siemens, Johnson Controls, and Honeywell as the market leaders in the global Smart Facility Management market.
Request To Download Free Sample of This Strategic Report: https://www.reportocean.com/industry-verticals/sample-request?report_id=IR154
Overview of the Smart Facility Management Market
The report predicts that the global Smart Facility Management market will grow at a CAGR of 18.0% during the forecast period of 2019-2025. The markets growth is primarily driven by the increasing demand for energy-efficient buildings in the commercial construction sector. While the integration of smart building features with BAS or BMS holds promise, the lack of interest among facility owners in implementing smart facility components has hindered the markets growth.
Smart Facility Management by Region
Europe dominates the Smart Facility Management market in 2019, with the highest number of technology innovators and market disruptors. The adoption of smart facility management solutions is particularly high in Europe, where enterprises focus on enhancing the employee experience to improve productivity. Asia-Pacific is expected to experience the fastest growth rate due to increased construction activities, particularly in India, China, Indonesia, and Australia.
Competitive Analysis and Key Vendors
Major vendors across various verticals are making significant investments in product development, driving the Smart Facility Management markets impressive growth. Key players in the market are adopting various strategies, including mergers and acquisitions, collaborations, partnerships, and joint ventures, to strengthen their positions.
Key Vendors in the Smart Facility Management Market
Schneider Electric IBM Siemens Johnson Controls Honeywell
These companies are expanding their presence across various verticals, from hospitality and food & beverages to IT and ITeS. For example, Hilton Garden Inn in Dubai adopted Schneider Electric EcoStruxture Building Solution to integrate BMS, guest room management, and property management systems, improving automation and efficiency. Ritter Sport implemented Siemens new energy management system to reduce energy consumption. The system integrates data from production systems with building management systems to provide a holistic energy management solution.
Smart Facility Management by Component
Software Sensors and Surveillance Component Services
The software segment is expected to experience the highest growth during the forecast period.
Smart Facility Management by Service
Professional Services Managed Services
The managed services segment is estimated to hold the largest market share in 2019, and this trend is likely to continue during the forecast period.
Smart Facility Management by Type
Energy Management Infrastructure Management Property Management Security
The infrastructure management segment is projected to grow at the highest rate, driving better building experiences, scheduled predictive maintenance, and monitoring.
Benefits of Smart Facility Management Research The report provides an in-depth analysis of the Smart Facility Management market, highlighting the combination of technologies such as analytics, mobility, cloud, automation, and alarm systems to offer innovative intelligent features in facilities. Smart Facility Management is expected to provide next-generation building experiences, focusing on reducing electricity bills, quick notifications for repairs, space management, and centralized control of buildings. Facilities are also adopting smart solutions for better hazard and natural calamity management. The report discusses the market in terms of component, type, and region, providing insights into the major challenges impacting market growth.
Regions/Countries Covered in the Report
North America Europe Asia-Pacific Middle East and Africa Latin America
Key Players Covered in the Report
Schneider Electric IBM Siemens Johnson Controls Honeywell
About Report Ocean
Report Ocean is a leading provider of market research reports, committed to delivering both quantitative and qualitative research results. With a global network and comprehensive industry coverage, the company offers in-depth knowledge to enable informed and strategic business decisions. Leveraging cutting-edge technology, analysis tools, and years of expertise, Report Ocean provides detailed and exceptional research results that exceed expectations.
COMTEX_443021312/2796/2023-11-06T04:08:37
MENAFN06112023007451016085ID1107378216
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.