Facility Management Services Market Top Booming Companies At A CAGR Of 7.1% By 2030

(MENAFN- EIN Presswire) Facility Management Services Market Manufacturing Cost Structure, Process Analysis by 2030

WILMINGTON, DELAWARE, UNITED STATES, August 28, 2024 /EINPresswire / -- Facility management services enhance property value and generate returns for landowners.

Increased property value: By providing various maintenance solutions, facility management services help properties retain their functionality and aesthetics, contributing to their overall value.

Improved returns: These services go beyond basic maintenance, offering value-added solutions that optimize space usage and improve efficiency, leading to higher returns on real estate investment.

Meeting owner objectives: Facility management services are tailored to meet the functional and financial goals of property owners, ensuring their assets are well-maintained and generate consistent income.

The facility management services market size was valued at $1,253.30 billion in 2020, and is estimated to reach $2,525.10 billion by 2030, growing at a CAGR of 7.1% from 2021 to 2030.

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Market growth is driven by several factors:

Rising construction spending: Increased investment in commercial and residential construction projects fuels demand for facility management services, encompassing maintenance, cleaning, and landscaping.

Urbanization boom: Developing nations like India, Africa, and China are experiencing rapid urbanization, leading to a surge in demand for both commercial and residential buildings. This growth extends to various industries like oil & gas, mining, transportation, and pharmaceuticals, all requiring regular facility maintenance to function effectively.

Heightened security awareness: Businesses and organizations are increasingly prioritizing asset protection. Facility management services provide comprehensive maintenance and security solutions, driving market expansion.

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On the contrary, advancement of technology owing to use of Internet of Things (IoT) provides better security, which is predicted to create lucrative opportunities for companies operating in the market. In addition, different initiatives by governments lead to rise in investments over commercial and railway projects. This in turn, is expected to offer new opportunities for the facility management service providers.

Key Segmnets Based On:

The facility management services market is segmented on the basis of service type, type, end user, and region.

By service type, the market is bifurcated into a property, cleaning, security, catering, and others.

By type, the market is segmented into outsourced and in-house.

By end user, the market is divided into commercial, institutional, public/ infrastructure, industrial, and others.

Regional Analysis:

Region-wise, the facility management services market analysis is conducted across North America (the U.S., Canada, and Mexico), Europe (the UK, France, Germany, Italy, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa). In 2020, Asia-Pacific was the highest contributor to the global Facility management services market share, and LAMEA is anticipated to secure a leading position during the forecast period.

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Top Players:
The major players profiled in the facility management services industry include, Group Atalian (Arthur McKay & Co Ltd.), BVG India Ltd., CBRE Group, Inc., EMCOR Group, Inc., ISS World Services A/S, Knight Facilities Management, Quess Corp Ltd., Sodexo, Inc., Downer Group (Spotless Group), and Tenon Group. Major companies in the market have adopted acquisition, partnership and agreement as their key developmental strategies to offer better products and services to customers in the market.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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Allied Market Research
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