Dublin, Ireland -- (SBWIRE) -- 03/18/2021 -- Facility Management Market Dynamics (including market size, share, trends, growth, forecast, and industry analysis)

Key Drivers

The global facility management market is predicted to witness an upsurge in demand during the forecast period due to the nationalization and internationalization of contact procurement for organizations of different sizes. The government has taken several initiatives to unlock their tourism industry, which can be done by introducing numerous changes. For example, in 2019, the government of Saudi Arabia has begun issuing tourist visas for the first time, which has resulted in rising demand for the facility management market size. According to the facility management market statistics states that the intention rate is growing by 34% for national and 9% for international, which is fuelling the demand for the market. As per the facility management market report, the increase in the demand for performance, productivity, and retention in the internationalization industry is further anticipated to stimulate the growth of the market. As per iSS, around 80% of the internationalization facility management contract has grown from the past two years, illustrating the growth of the sectors.

According to the facility management market analysis, the major factor contributing to the growth of the facility management market include progress in the infrastructure industry. Regulatory and governmental bodies of multiple economies are heavily investing in increasing the infrastructure of airports, railways, and other sectors, which is another factor that will have a positive influence on the market's demand. For example, in the next 11 years, Saudi Arabia has increased US$ 36 million for the transportation industry. As per the "Ministry of Energy," Saudi Arabia has decided to invest more than US$ 425 million in its sector and infrastructure, thus supporting the demand for facility management services. On the other hand, a shortage of skilled labor and resources for the management of the services and the limited usage of technology will hinder the market growth.

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Facility Management Market's leading Manufacturers:

- Sodexo
- CBRE
- iSS
- Compass Group PLC
- Aramark
- Jones Lang LaSalle IP, Inc.
- Cushman & Wakefield
- Tenon
- Johnson Controls
- Dussmann Group

Type Segment Drivers

Based on the type, outsources is projected to lead the market due to the rising appetite for outsourcing. As per the ISS annual report, the increasing penetration of outsourced facility from 2000 and has touched 4-5% by 2018. This trend will increase the cost of employing in-house facility management, thus driving the growth of the global facility management market.

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Facility Management Market Segmentation:

Segmentation by Type:

- In House
- Outsource

Segmentation by Service Line:

- Support
- Catering
- Security
- Cleaning
- Property

Segmentation by End-Use Industry:

- IT
- Manufacturing
- FMCG
- Infrastructure
- Healthcare
- Retail
- Others

Segmentation by Region:

- North America

o United States of America
o Canada

- Asia Pacific

o China
o Japan
o India
o Rest of APAC

- Europe

o United Kingdom
o Germany
o France
o Spain
o Rest of Europe

- RoW

o Brazil
o South Africa
o Saudi Arabia
o UAE
o Rest of the world (remaining countries of the LAMEA region)

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