Facility Management Market worth US$ 112.8 Billion 2029 with a CAGR of 11.3%
Facility Management Market is projected to grow from US$ 36.7 billion in 2019 to US$ 112.8 billion by 2029. The global facility management market is expected to register moderate growth over the forecast period. This is attributed to rising adoption of disruptive technologies such as cognitive computing, augmented reality, internet of things and analytics, robots, and drones in facility management area. Increasing demand for integrated facility management to achieve economies of scale where reductions is done in average costs attributable to increase production volume Integration of building information modeling with facility management solutions and implementation of the digital twin technology for facility asset management is expected to create lucrative growth opportunities for new as well as existing players to gain competitive edge. The Report " Global Facility Management Market, by Solutions (Integrated Workplace Management System, Building Information Modeling, Facility Op