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Unified Facility Management Market Status, Revenue, Growth Rate, Services and Solutions- Forecast to 2023
The Global Unified Facility Management Market is set to register a CAGR of 15% during the forecast period 2017 to 2023.(PresseBox) ( Magarpatta, )
The Global Unified Facility Management Market is set to register a CAGR of 15% during the forecast period 2017 to 2023. The valuation of the global market is poised to reach USD 70 Bn by the end of 2023. The thriving services sector coupled with the accelerating adoption of digitization and automation across different industry verticals is likely to augment the global market in the foreseeable future.Unified facility management solutions amplify the efficiency and effectiveness of the business which is projected to impact the growth of the market positively. The rising adoption of Artificial Intelligence (AI) and the Internet of Things (IoT) have further paved the way for the adoption and deployment of the solutions. This, in turn, is anticipated to favor the expansion of the unified facility management market over the review period.
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The unified facility management market resonates strong opportunities for growth and is likely to remain highly lucrative in the upcoming years. The key players are expected to capitalize on the opportunities by implementing growth strategies such as mergers & acquisitions, product portfolio expansion, product innovation, etc. This is expected to catalyze the proliferation of the unified facility management market through the projection period.The intensified demand for the solution across different industry verticals such as healthcare, retail, BHSI, etc. is another major factor responsible for contributing towards the expansion of the market. However, lack of skilled personnel remains an impediment to the unified facility management market growth. The study reveals that unified facility management is trending in North America region. The growing requirement of organization to create efficiencies, service delivery at the low cost and others, has boost the market growth of unified facilities management in last few years. The unified facility management market is growing with the growing trend of digital technology. The advanced technologies including Internet of Things, Big Data, 3D printing, energy management, and others are on the verge of breaking into the region. With the adoption of unified facilities management, the companies are looking overseas for future growth, and are trying to penetrate in small medium organizations and others.
Unified facility management Market - Competitive Dashboard:
Some of the key players profiled in the report are Trimble Navigation, Ltd. (U.S.), Oracle Corporation (U.S.), Archibus, Inc. (U.S.), Accruent LLC. (U.S.), SAP SE (Germany), CA Technologies (U.S.), International Business Machines Corporation (U.S.), iOffice Corporation (U.S.) Planon Corporation (Netherlands), and FM Systems, Inc. (U.S.).
Unified facility management Market- Industry News:
In September 2018, Aldar Properties, Abu Dhabi, took over Khidmah, a Facility Management (FM) company for serving better services to its direct and indirect customers.
In October 2018, International Business Machine (IBM), an American multinational information technology company, has acquired Red Hat Inc., an American multinational software company providing open-source software products. The deal is worth USD 33 Bn.
In November 2018, ISS Group, a leading global facility management services provider, has assigned Coupa Software, the leader in Business Spend Management (BSM), for transforming procure-to-pay (P2P) process with a user-friendly solution for enhanced efficiency and increased saving.
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Global Unified facility management Market Segmentation:
The global unified facility management market is bifurcated based on components, deployment type, applications and region. The components are segmented into software, service, solution and others. The deployment type is segmented into on cloud, on premises and others. The applications are segmented BFSI, IT and telecom, healthcare, education, retail and others. The region includes North America, Europe, Asia Pacific and rest of the world.
By components, the unified facility management market has been segmented into software, service, and solution.
By deployment type, the global unified facility management market has been segmented into on cloud and on premises.
By applications, the global unified facility management market has been segmented into BFSI, IT & telecom, healthcare, education, and retail.
Market Research Analysis:
On geographic basis, global unified facility management market is studied in different regions as Americas, Europe, Asia-Pacific and Rest of world. It has been observed that North America region is leading with market share growth in the unified facility management market. The unified facility management are gaining huge demand in various sectors such as education, healthcare and others. In this market, Europe is to be estimated to be the second largest market share for unified facility management during the forecast period. Asia Pacific is expected to forecast the highest CAGR in the coming years.
The global unified facility management market, by region, has been segmented into Asia Pacific, North America, Europe and the Rest of the World. North America is poised to retain a dominant share of the global market through the forecast period. The extensive demand for unified facility management solutions across different industries such as health care and real estate among others is projected to drive the growth of the regional market in the foreseeable future.
Europe is an important growth pocket and is expected to witness rapid growth over the next couple of years. Meanwhile, Asia Pacific is estimated to strike the highest CAGR during the review period owing to the growth of the emerging country-level markets such as India, China, Japan, etc. The companies from different industries are deploying the technology for meeting customer needs. This has catapulted the unified facility management market in the region on an upward trajectory.
TABLE OF CONTENTS
1 Market Introduction
1.2 Scope Of Study
1.2.1 Research Objective
1.3 Market Structure:
1.3.1 Global Unified Facility Management Market: By Components
1.3.2 Global Unified Facility Management Market: By Deployment Type
1.3.3 Global Unified Facility Management Market: By Applications
1.3.4 Global Unified Facility Management Market: By Region
2 Research Methodology
2.2 Primary Research
2.3 Secondary Research
2.4 Forecast Model
3 Market Dynamics
3.2 Market Drivers
3.3 Market Challenges
3.4 Market Opportunities
LIST OF TABLES
Table 1 Unified Facility Management Market, By Components
Table 2 Unified Facility Management Market, By Deployment Type
Table 3 Unified Facility Management Market, By Applications
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LIST OF FIGURES
Figure 1 Research Methodology
Figure 2 Unified Facility Management Market: By Components (%)
Figure 3 Unified Facility Management Market: By Deployment Type (%)
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