Published On : 13 Aug 2018
The global market for facility management (FM) services has been gaining popularity as businesses aim to streamline their intrinsic and extrinsic functions into a single funnel. Facility management involves outsourcing of various functions within a business in order to accelerate the productivity of the business and reduce the load on the in-house departments. Facility management is a wide area of operation that spans across services such as design, maintenance, occupancy, furniture, constructions, cleanliness and hygiene, and lease. Since all of the aforementioned domains play an important role in defining the success of business enterprises, the demand for facility management services has been rising across the globe.
Furthermore, facility management services help businesses in increasing their efficiency and transcending as environmentally responsible units. Several attempts have been made by international businesses to stay wary of their growth and development at micro and macro levels. Facility management services have helped businesses in meeting these goals of tracking productivity and growth. Hence, the growth of the global facility management (FM) services market hinges on the quest of corporate circles to function at an unrestrained pace.
In this article, QYResearchReports brings together all of the key forces that have contributed to the growth of the global market for facility management services. Furthermore, the dynamics of regional businesses have also been elucidated in this article. It is anticipated that the demand for facility management services would reap benefits from the growing sophistication of businesses.
1. E-Waste Management
Several reports and research studies have revealed that disposal of e-waste is amongst the top-most concerns of business units and organizations. Since facility management services also cover the management of e-waste, several business have resorted to these services in recent times. Furthermore, the hospitality sector has emerged as an ardent consumer of facility management services to provide clean, hygienic, and disease-free indoor settings to the guests. Facility management services also assist the finance department of businesses by providing accounting services. This has also led to an increased demand within the global market for facility management software. On the flip side, the smaller businesses are barely able to afford the services provided within facility management, and this deprives the market of a huge consumer base.
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2. Asia Pacific holds Commendable Market Opportunities
The rising number of businesses that have emerged on the corporate landscape of India and China has given an impetus to the growth of the market in Asia Pacific. Furthermore, the market for facility management services in North America and Europe has been expanding because of the concerns of businesses to reduce their environmental impact. Facility management services keep a track of the total emissions caused by a business and also quantify their net environmental impact.
3. Key Market Players
Some of the key players in the global facility management services market are Compass, Ecolab USA, Continuum Services, Stutler Solutions, Bilfinger HSG Facility Management, Cushman & Wakefield, and Resolute Facility Services.
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