Facility Management Services Market was estimated at $1,253.30 billion in 2020 and is expected to hit $2,525.10 billion by 2030, registering a CAGR of 7.1%.
WILMINGTON, DELAWARE, UNITED STATES, February 15, 2024 /EINPresswire.com/ — The Global facility management services market was estimated at $1,253.30 billion in 2020 and is expected to hit $2,525.10 billion by 2030, registering a CAGR of 7.1% from 2021 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and varying market trends.
Increase in demand for greater productivity within lower maintenance in different corporate offices drives the growth of the global facility management services market. On the other hand, different organizations are adopting outsourced facility management over in-house facility management, owing to low maintenance and operational cost, which restrains the growth to some extent. However, a lot of growth prospects in the developing economies have been beneficial for the market growth.
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Covid-19 scenario-
Restrictions on shutting down institutional and commercial spaces hampered the global facility management services market negatively, especially during the initial period.
Restrictions on social gatherings and public events aggravated the market condition even more. However, the market has already recovered quickly.
The global facility management services market is analyzed across service type, type, end-user, and region. Based on service type, the property segment contributed to nearly one-third of the total market revenue in 2020, and is projected to lead the trail by 2030. The cleaning segment, however, would exhibit the fastest CAGR of 8.4% during the forecast period.
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Based on type, the in-house segment generated the highest share in 2020, accounting for around half of the global market. The outsourced segment, on the other hand, would cite the fastest CAGR of 7.6% from 2021 to 2030.
Based on region, the market across Asia-Pacific held the major share in 2020, garnering nearly two-fifths of the global market. The LAMEA region, simultaneously, would manifest the fastest CAGR of 10.0% throughout the forecast period.
Leading Players:
The key market players analyzed in the global facility management services market report include BVG India Ltd., CBRE Group, Inc., EMCOR Group, Inc., Sodexo, Inc., Knight Facilities Management, Quess Corp Ltd., Tenon Group, Group Atalian (Arthur McKay & Co Ltd.), ISS World Services A/S, and Downer Group (Spotless Group). These market players have adhered to several strategies including partnership, expansion, collaboration, joint ventures, and others to prove their flair in the industry.
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