According to the research report titled ‘Facilities Management (FM) Market Size By Type (Outsourced, In-house), By Service , By Application (Education, Commercial, Transportation, Industrial, Government & Public Sector, Healthcare and Others), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2020 – 2026’, available with Market Study Report, global facilities management (FM) market is expected to record lucrative growth over the forecast period 2020-2026.
 

As cited by the report, factors such as flourishing hospitality & tourism sector, stringent environmental regulations, and government initiatives for development of business hubs and smart cities are propelling global facilities management (FM) market growth.
 

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Moreover, surging demand for value added and personalized services, as well as rising adoption of virtual workplaces are boosting overall industry remuneration.
 

For those unversed, facilities management includes a range of disciplines and services to assure the safety, functionality, efficiency, and comfort of a built-environment which generates immense amounts of IoT data through meters, smart devices, and sensors.
 

On the downside, complications in integration of legacy ERP systems and facility management services, as well as low penetration of outsourced FM services are likely to impede market growth in the upcoming years.
 

Based on application scope, worldwide facilities management (FM) market is segmented into transportation, healthcare, government & public sectors, education, industrial, and commercial. Industrial application segment accounted for 18% of the total market share in 2019, owing to increasing adoption of hard services in industrial complexes.
 

Considering service type, the industry is categorized into management services, hard services, and soft services. Among these, hard service based electrical sub-segment is poised to grow at 9.1% CAGR during the study period, driven by mounting demand for maintenance of electrical equipment.
 

On the regional front, Latin America captured 10% of the overall industry share in 2019 owing to growing infrastructure development, and numerous construction activities across the region. Meanwhile, MEA industry is estimated to register a CAGR of 8.9% over 2020-2026, attributable to extensive outsourcing of soft services, and flourishing real estate sector.
 

Key players profiled in global facilities management (FM) market report are Veolia Environnement S.A., Tenon Group, Sodexo S.A., Serco Group plc, SAP SE, Planon Corp., Oracle Corp., O.C.S. Group Ltd., Jones Lang LaSalle IP Inc., ISS A/S., Interserve Group Ltd., IBM Corp., GDI Integrated Facility Services Inc., EMCOR Group Inc., Compass Group plc, Cushman & Wakefield plc, Colliers International plc, CBRE Group Inc., Aramark Corp., and G4S Ltd.