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Facility Management Services 2018 Global Market Outlook, Research, Trends and Forecast to 2023
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Facility Management Services Market: by Services (Project Management, Inventory Management, Maintenance Management), by Deployment (Cloud, On-Premise), Organization Size, Industry Vertical – Forecast till 2023
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Market Highlights:

Facility management comprises management methods and techniques of building management and infrastructure management of an organization to ensure the functionality of the built environment. The major factors contributing towards the growth are the growing need for maintaining the environmental and regulatory compliance and the demand for single integrated facility management.

According to Market Research Future, the global facility management services market has been segmented into services, deployment, organization size, industry vertical, and region.

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Segmentation:

By services, the market is segmented into project management, inventory management, maintenance management, operations management, and others. Among these, the inventory management and operations management accounted for the largest market share among services. As facility management is a software, which is either deployed on the cloud or on-premise devices, the services related to installation, maintenance and support of software are also essential. However, project management services are expected to account for the highest growth during the forecast period.

On the basis of deployment, the market is segmented into cloud deployment and on-premise deployment. Among deployment, the cloud deployment takes up the largest market share. In the recent times, most of the organizations, including manufacturing facilities are shifting towards automation, which makes it easier to deploy the software for facility management on the cloud. In addition, the flexible pricing of the cloud services helps in the adoption of technology by small and medium enterprises. On the basis of organization size, the market is segmented into SME and large enterprise.

On the basis of industry vertical, the market is segmented into BFSI, retail, IT & telecom, healthcare, government, energy and utilities, and others. Among these organizations, healthcare, energy and utilities, and retail are among the leading industry verticals adopting the facility management technology. However, retail is expected to be the fastest growing market with the highest CAGR during the forecast period. On the basis of region, the market is segmented into North America, Europe, Asia Pacific, and the rest of the world.

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