The global facility management market is predicted to touch USD 60 billion at a 13% CAGR between 2016- 2022, as per the recent Market Research Future (MRFR) analysis. Facility management, simply put, is the process to manage multiple disciplines & operations of a company and also ensure smooth functionality of the built environment. This helps to integrate technology, process, place, people, and also helps the company to lay emphasis on their core competencies, which include technology management, property management, project management, operation and maintenance, leadership strategy, finance and business, environmental sustainability, and communication. Inventory management, operation management, project management, maintenance management, and others are its different services. Owing to its alluring features and plentiful benefits, facility management has wide applications in government, IT and telecom, real estate, BFSI, education, manufacturing, healthcare, retail, and other sectors.

Various factors are propelling the global facility management market growth. According to the latest MRFR report, such factors include the changing work culture, booming cloud technology market, increasing trend of outsourcing facility management operations, growing emphasis by organizations on space management system and building asset, and increase in commercial real estate properties.

On the contrary, the lack of awareness and the COVID-19 pandemic impact are factors that may limit the global facility management market growth over the forecast period.

Segmentation:

The MRFR provides an inclusive segmental analysis of the global [FURL=https://www.marketresearchfuture.com/reports/facility-management-market-2274/]facility management market share[/FURL] based on services, deployment, and end users.

By services, the global facility management market is segmented into inventory management, operation management, project management, maintenance management, and others. Of these, the project management segment will lead the market over the forecast period for the increasing use of facility management for project management.

By deployment, the global facility management market is segmented into cloud and on-premise. Of these, cloud deployment will dominate the market over the forecast period for the rising preference for cloud deployment.

By end users, the global facility management market is segmented into government, IT and telecom, real estate, BFSI, education, manufacturing, healthcare, retail, and others.

Key Players

Key players profiled in the global facility management market report include Trimble, Inc. (U.S.), Interserve Plc. (UK), Accruent, LLC (U.S.), CA Technologies, Inc. (U.S.), FM System, Inc. (U.S.), Aramark Corporation (U.S.), EMCOR group, Inc. (U.S.), SAP SE (Germany), Oracle Corporation (U.S.), and IBM Corporation (U.S.).

Also Read: [FURL]http://www.marketwatch.com/story/facility-management-market-analysis-investment-opportunities-industry-size-share-growth-forecast-and-competitor-strategies-2020-04-24/[/FURL]