$ 1,418.85 Million Facilities Management Solutions Market Size, Globally, by 2028 at a CAGR of 9.2%

The size of the facilities management solutions market is driven by the growing demand for cloud-based facility management solutions, increased customer awareness, and growing maintenance management and security needs. North America held the largest share of revenue in 2020, followed by Europe and APAC. The APAC market is expected to grow at the fastest rate from 2021 to 2028.

NEW YORK, January 12, 2022 / PRNewswire / – According to the new market research report, “Facilities Management Solutions Market Forecast to 2028 – COVID-19 Impact and Global Analysis by Component (Software and Services), Deployment (On-Premises and Across cloud), enterprise size (small to medium and large enterprises) and applications (BFSI, retail, transportation and logistics, pharmaceuticals, government, IT and telecommunications, manufacturing and others) ”, published by The Insight Partners, the global facilities management solutions market is expected to grow by US $ 768.71 million in 2021 to US $ 1,418.85 million by 2028; it is estimated to increase at a CAGR of 9.2% between 2021 and 2028.

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Facilities Management Solutions Market: Competitive Landscape and Key Developments

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Maintenance and upkeep management; FM: Systems; Service now; IBM (TRIRIGA); Axonator Inc .; Facilitron, Inc .; FacilityBot Pte Ltd. ; CMMS Hippo; Infraspeak; Quickbase, Inc .; and Servicechannel.Com, Inc. are among the major profiled players in the global facilities management solutions market. in addition, Several other significant market players have been studied and analyzed during this market research to get a holistic view of the global market and its ecosystem.

In 2021, FM: Systems acquired WizzPass, a rapidly growing leader in visitor management systems and workplace management. This purchase expands the company’s visitor management capabilities, which are critical to delivering productive, safe and rewarding work experiences.

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Facilities management includes tasks such as equipment maintenance, space planning, and portfolio forecasting. Emergency preparedness and business continuity, environmental sustainability, human aspects, communication, project management, quality, property and property management, as well as leadership and strategy are also part of the facility management.

The growth of Facilities Management Solutions Market can be attributed to the increase in infrastructure spending and the growing emphasis on process optimization and improving energy efficiency. Real estate, manufacturing, retail and the public sector are some of the sectors that have seen significant infrastructure development. Due to the growing demand to integrate data from operational facilities with other business applications, these verticals are the primary end customers in the facilities management solutions market.

Productivity and efficiency management with several facility management solutions:

Facilities management solutions help manage and maintain a wide range of processes that ensure the productivity, safety and efficiency of a built environment and its occupants. Various tools are involved while managing any facility (such as residential and commercial buildings) including asset management and tracking, equipment and building maintenance, project management, security, health management and security, as well as catering and hospitality. To manage these processes, the Facilities Management Solution provides a Strategic Planning and Project Management solution, a Workplace and Relocation Management solution, Sustainability Management solutions and Workplace Management solutions. maintenance. Thus, adopting multiple facility management solutions helps increase the productivity and efficiency of a business.

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For example, in September 2021, Kontakt.io integrated IBM TRIRIGA to transform real estate management with real-time space occupation, driven by AI. TRIRIGA (Workplace Management Systems) includes TRIRIGA Building Insights and combines occupancy data from sources, such as WIFI and IoT sensors, with new integrated artificial intelligence. TRIRIGA provides clients who operate in large real estate portfolios with information to help professionals make smarter, data-driven decisions. The integration of Kontakt.io with IBM TRIRIGA is expected to provide AI-based usage insights across all portfolios, real-time occupancy monitoring, and space management tools supporting the Existing IoT infrastructure used in many offices. Such initiatives help to increase the productivity and efficiency of real estate companies. Therefore, with multiple facility management solutions, the productivity and efficiency of any organization increases. Hence, this factor is driving the growth of the facility management solutions market.

Facilities Management Solutions Market: Component Overview

Component-based, the facility management solutions market is divided into software and services. The software segment has largely contributedr revenue share in 2020.

Facilities Management Solutions Market: Deployment Overview

Based on deployment, the facilities management solutions market is divided into on-premise and cloud. The cloud-based segment contributed a larger share of revenue in 2020.

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