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 Operations and Security Management, Facility Environment Management, and Facility Property Management), by Service (Deployment and Integration, Consulting, Auditing and Quality Assessment, Support and Maintenance, SLA (Service Providers Need) Management), by Deployment Type (On-Premises and Cloud), by Organization Size (Small and Medium-Sized Enterprises and Large enterprises), by Vertical (BFSI, IT and Telecom, Government and Public Administration, Healthcare, Education, Retail, Energy and Utilities, Manufacturing, and Construction and Real Estate), and Region - Global Forecast to 2029"

Key Highlights:

  • In May 2017, Trimble Inc acquired Network Mapping Group Limited (NM Group). This acquisition expands Trimble's energy solutions portfolio to provide high-value data modeling and 3D visualization services for the utilities industry.
  • In November 2018, SAP SE has introduced SAP Intelligent Asset Management is a set of solutions which are bringing collaborative asset intelligence, planning, prediction, simulation to equipment maintenance, and operations.

Key Market Insights from the report:          

The global facility management market accounted for US$ 36.7 billion in 2019 and is projected to register a moderate CAGR of 11.3% over the forecast period. The market report has been segmented on the basis of solutions, service, deployment type, organization size, vertical, and region.

  • By solution, the asset maintenance management system segment accounted for major revenue share in 2019. Asset maintenance management system is used to designed program and records an organization’s maintenance activities. Asset maintenance management provides a problem solving-time assessment of buildings, equipment, machinery, and other organizational assets.
  • By service, the global facility management system is segmented into deployment and integration, consulting, auditing and quality assessment, support and maintenance, and SLA (service providers need) management.
  • By region North America facility management market accounted for major revenue share of the global facility management market and is further anticipated to maintain its dominance over the forecast period, owing to increasing number of public-private partnership projects as well as growing number of redevelopments in the existing facilities has increased burden on the existing facilities especially in U.S. and Canada.. Europe is expected to account for fastest growing rate in global facility management market, in 2019.

Before purchasing this report, request a sample or make an inquiry by clicking the following link:

https://www.prophecymarketinsights.com/market_insight/Insight/request-sample/340

The prominent player operating in the global facility management market includes International Business Machines Corporation, Oracle Corporation, SAP SE, MCS Solutions, ARCHIBUS, Inc., Trimble Inc., CA Technologies, Accruent, LLC, Planon B.V., FM:Systems, Inc., iOFFICE, Inc., Maintenance Connection Inc., JadeTrack, MetricStream, Inc., Facilities Management eXpress, LLC, eMaint Enterprises, LLC, Hippo CMMS, Indus Systems Inc, Autodesk, Inc., Nemetschek SE, Archidata Inc, Officespace Software Inc, FacilityONE Technologies, LLC, and Apleona GmbH. 

Comments

Post a Comment

Popular posts from this blog

Social Media Analytics Market worth US$ 2.5 Billion 2020 registering a significant CAGR of 24.2% over the forecast period

Image
  Social media analytics combines monitoring, measurement, and analysis tools to uncover user sentiments, and identify key trends in the studied market. The deployment of social media analytics allows users to mine and decipher vast amount of data from various social media platforms, such as Facebook, Twitter, and Instagram, among others. It helps the companies to discover customer sentiment about brands, trends, customer concerns, and the efficacy of the organization’s marketing campaigns, as well as competitor intelligence. Social media analytics is a six step process which comprises of identification, extraction, cleaning, analyzing, visualization and interpretation. The report  " Global Social Media Analytics Market, By Mode of Deployment (On-Premise, and Cloud) By End-User Industry (Banking and Financial Services, IT and Telecommunication, Retail, Healthcare, Government Services, Media and Entertainment, Utilities, Transportation and Logistics, and Other End-User Industries
Read more

TV Analytics market is estimated to be US$ 13084.7 million by 2030 with a CAGR of 19.80% during the forecast period

Image
TV Analytics market   accounted for US$ 2182.00 million in 2020 and is estimated to be US$ 13084.7 million by 2030 and is anticipated to register a CAGR of 19.80%. TV analytics is a single platform that collects data from many sources such as network apps, devices, and integrated third-party CDNs to tie viewer and network activity in real-time and over time. It enables broadcasters to have a better understanding of their audience and network, allowing them to increase return on content, meet consumer requests, and improve their TV delivery network. The increased use of analytics solutions has resulted from a growing requirement to manage this data and gain relevant insights into customer behaviour and advertising preferences. Furthermore, the use of TV analytics software ensures great accuracy in terms of audience engagement. The report "Global TV Analytics Market, By Type (Cable TV, Satellite TV/ DTH, IPTV, and Over the Top (OTT)), By Application (Customer Lifetime Management, Co
Read more

5G Satellite Communication Market is estimated to be US$ 7.7 billion by 2032; Technological Advancement to Fuel Industrial Growth

Image
Satellite Communication is the use of artificial satellites that provides communication links between various points on earth and plays an important role in global telecommunications system. Role of satellite in developing 5G network is to provide low latency data and high speed to cellular towers. Internet, radio, telephone, television and military applications are examples of satellite communication. Emergence of  5G Satellite Communication  services for IoT (Internet of Things), has become the major factor in target market growth. Rising number of IoT devices and adoption of edge computing has further facilitated the target market growth. Furthermore, increasing demand for satellite communication solution from aviation industries to improve air traffic management and airline operations is expected to boost the demand for 5G Satellite Communication market over the forecast period. The report “5G Satellite Communication Market, By Orbits (LEO, MEO, and GEO), By Spectrum (L and S Band,
Read more