Facility Management Market to Surpass USD 2.27 Billion by 2032 Due to Rising Demand in Healthcare & Infrastructure.
The Facility Management market has grown significantly, driven by rising demand in healthcare, infrastructure, and commercial buildings.
AUSTIN, TX, UNITED STATES, January 24, 2025 /EINPresswire.com/ -- The Facility Management Market1 size was USD 1.29 Billion in 2023 and is expected to reach USD 2.27 Billion by 2032, growing at a CAGR of 6.5% over the forecast period of 2024-2032.Get Sample Copy of Report: https://www.snsinsider.com/sample-request/3640
Keyplayers:
CBRE Group, Inc. (Facilities Management, Global Workplace Solutions)
ISS A/S (Integrated Facility Services, Property Solutions)
Sodexo (Energy & Maintenance Services, Workplace Experience)
Aramark Corporation (Facilities Management Services, Environmental Services)
Cushman & Wakefield Inc. (Facilities Services, Project Development Services)
Compass Group (Support Services, Workplace Services)
Jones Lang LaSalle (JLL) (Facility Management Solutions, Occupancy Planning)
EMCOR Group, Inc. (Building Services, Technical Solutions)
ABM Industries (Engineering Services, Energy Solutions)
Veolia Environment S.A. (Waste Management Solutions, Environmental Services)
Government Investments and Regulatory Push Fuel Growth in Facility Management Market
The facility management market is expected to grow significantly, owing primarily to rising government expenditure in the sectors of health care, public infrastructure, and availability of maintenance for commercial buildings. The American Rescue Plan Act allocated nearly USD 1 trillion to infrastructure, healthcare, and public facilities; and the Build Back Better Act supplied an additional USD 10 billion exclusively for healthcare facilities. This all has pointed the way for an increased focus on effective facility management, which is in part driven by greater government pressure to meet safety and sustainability regulatory compliance requirements with integrated service solutions.
Segment Analysis
By Offering
The in-house segment dominated the market in 2023 owing to high control and immediate response set up by various organizations. In-house organizations managing their facilities have the added benefit of direct oversight of services that are considered mission-critical, especially in heavily regulated and high-stakes sectors like healthcare and education, which must adhere to rigorous regulatory requirements.
By Service Type
The facility management market will remain dominated by hard services in 2023, which encompass maintenance of building infrastructure, electrical system maintenance, HVAC systems management, and safety installations. This segment witnessed a high share due to regulatory mandates about building safety coupled with efficiency and the government's increased infrastructure expenditure in 2023. Hard services are vital for industries like manufacturing and healthcare where compliance with safety codes is crucial. With governments across the globe imposing tougher building regulations, organizations now find physical infrastructure maintenance a key focus for facility management.
By Industry Vertical
The healthcare sector, a major focus of government investment, held a substantial market share within the facility management industry. The sector registered growth in 2023 and was mainly propelled by the surge in demand for maintenance management, sanitation management, and safety management of medical environments due to government healthcare schemes introduced recently. The government of the United States allocated an amount of USD 10 billion only for the upgradation of healthcare facilities which automatically increases the demand turnover for firm facility management services complying with healthcare regulations.
Enquiry Before Buy: https://www.snsinsider.com/enquiry/3640
Regional Development
In 2023, North America dominated the facility management market owing to significant investment in infrastructure, commercial & healthcare spaces majorly by the U.S. This growth can be largely attributed to several government supports, for instance, the American Rescue Plan Act which directed nearly USD 1 trillion toward public infrastructure and healthcare facilities from federal funds that are only expected to increase demand for facility management services across sectors as professionals strive to maintain safety, sustainability and regulatory compliance.
The fastest-growing market for facility management is comprised of countries such as Japan and India among others in the Asia-Pacific region which is estimated to record a high CAGR across the forecast period 2024-2032. The regional growth in this sector has been led by mega countries such as China and India, which are being driven by rapid urbanization, and industrial development coupled with huge investments towards green building projects. Governments in these countries have also been implementing green building policies and regulations that require facility managers to adopt sustainable practices.
Recent Developments
• J&J Worldwide Services Acquisition (February 2024): CBRE Group, Inc., a global leader in commercial real estate and facility management, completed the acquisition of J&J Worldwide Services to enhance its services for U.S. federal government facilities. This acquisition aligns with CBRE's growth strategy in the government sector.
• ISS Integrated Facility Services Contract (March 2023): ISS secured a five-year integrated facility services contract with a leading global pharmaceutical company headquartered in the United States. This contract underscores the growing demand for integrated facility management solutions in the healthcare and pharmaceutical industries.
Access Complete Report: https://www.snsinsider.com/reports/facility-management-market-3640
About Us:
SNS Insider is one of the leading market research and consulting agencies that dominates the market research industry globally. Our company's aim is to give clients the knowledge they require in order to function in changing circumstances. In order to give you current, accurate market data, consumer insights, and opinions so that you can make decisions with confidence, we employ a variety of techniques, including surveys, video talks, and focus groups around the world.
Akash Anand
SNS Insider | Strategy and Stats
+1 415-230-0044
email us here
Visit us on social media:
Facebook
X
LinkedIn
Instagram
YouTube
1 https://www.snsinsider.com/reports/facility-management-market-3640
