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Global Integrated Facilities Management Market: Analysis 2022-27

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Global Integrated Facilities Management Market Report: Analysis 2022-27

Integrated Facilities Management Market by Regional Category Spend, Price Analysis, Key Demand, Price Indicators, and Best Buying Practices

In 2021, the global Integrated Facilities Management (IFM) sector was valued at USD 55.1 billion. The industry is forecasted to grow at a Compound annual growth rate of nearly 13.36 percent between 2022 and 2027, surpassing a revenue of USD 116.5 billion by 2027.

Although the COVID-19 outbreak impacted almost all sectors, such as the IFM industry, the building services industry has continued to build services for working from home and in the workspace while maintaining sociological distance in consideration. The principal commercial indicator is the area with the largest category spender—North America (Canada and United States).

Integrated Facilities Management: Industry Definition and Segmentation

Scope

The amalgamation of all facility management strategies and technology into a single coherent team is referred to as integrated facilities management (IFM). The IFM team is separated into hard facilities management, which includes building fabric components, and soft facilities management, which includes services such as security, cleaning, and waste management. Contracts, vendor cooperation, space management, and real estate planning are the main components of IFM. IFM services offer effective services bundled in a single agreement that provides their clients with a single point of contact for customer care, increased coordination between diverse facilities management services vendors, and combined pricing to keep everything under budget.

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The integrated facilities management Market report comprises segments by:

Solutions – facility property management, building information modeling, integrated workplace management system, facility operations, and security management, and others

Services – deployment, and integration, consulting and training, support and maintenance, auditing and quality assessment, and others

Deployment – on-premises and cloud

Region-wise – North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America is projected to have the largest market share in the global facility management market.

Snapshot of the Report

The regional markets for the industry can be divided into North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa.

Read Full Report with Table of Contents: – https://www.procurementresource.com/reports/integrated-facilities-management-industry-report

Category Drivers

The increasing trend of getting digitized, with the rising adoption of the Internet of Things (IoT) and cloud-based software, are at present the major drives leading to the growth of the IFM market. To reduce the dependency of the managers on human resources and enhance their operational effectiveness, they are using more advanced technologies such as cloud computing and augmented reality (AR) for managing a building.

Cloud-based solutions are the major driver in the growth of the IFM industry globally as they help numerous organisations to decrease operating costs, security of crucial data, swift recovery of servers, and easy accessibility of information from anywhere through a secure login. Additionally, the arrival of IFM is proving to be a growth-stimulating factor. IFM improves output by streamlining recurring operations and combining all office-related functions under one individual management team.

While ensuring the accessibility of all important devices needed for maximum efficiency, facility management services are also employed to easily manage home-based, on-the-go, after-hours and employees, and outsourced services. Furthermore, facility management services perform a key role to create a safe workplace especially to deal with COVID-19 concerns, reduce energy costs, and asset tracking.

Besides, the execution of the promising government policies promoting infrastructural automation, paired with the growing adoption of the software-as-a-service (SaaS) deployment model, is expected to drive the market further. Also, nations across the globe are focused on investing in infrastructure. Governments have begun to finance greatly in building railways, ports, airports, and several other sectors. To work this up a lot of alliances have been made with various private contractors and service providers that help in maintaining the infrastructure clean and green.

Category Insight by Region

Owing to the presence of multiple organized and Unorganised market players in the Asia Pacific region, countries like India and China had the biggest market share. Likewise, recognized major players in the IFM sector are aiming on associating with domestic companies to offer their services to end-users and enlarge their geographical existence. To add further, the fast adaptation of the new and innovative technologies such as Internet of Things (IoT) solutions and modern business strategies are positively affecting the market in the region.

North America on the other hand is projected to grow progressively and have the greatest market share in the global IFM market by implementing the latest technologies like IoT, AI, the adoption of robots, and others.

With economic and technological advancements in countries like the United States and Canada, the adoption of evolving technologies and the robust financial standing of important market players are some of the main factors that support organizations in North America to be more competitive than the others.

The existence of developed countries having well-established infrastructure helps in generating huge demand for facility management services in the region. BFSI and IT & Telecom divisions of the companies are likely to contribute a key market share. Additionally, with the growing awareness and need for sanitization to fight the novel coronavirus along with the implementation of the government-initiated Programmes the IFM market is estimated to grow considerably in the forecast period.

In addition, with the implementation of precautionary measures by governments across the region allowing the IFM service providers to increase the workforce, productivity, and sales, Europe’s IFM industry is expected to grow moderately.

On the other hand, the rise in the investments in the tourism sector by the governments of the Middle East and Africa is the primary reason for driving the growth opportunities in the IFM market. Moreover, factors like the emerging economy, commercial and residential segments are the important drivers that are resulting in the growth of the IFM industry in Latin America.

Best Procurement Practices

The global Integrated Facilities Management Market by Procurement Resource gives an in-depth analysis of the best buying practices followed by the major customers of integrated facilities management services products across the globe, such as engagement models, contract terms, buyer, and supplier negotiation levers, among others.

Category Management Studies

Organizations are adopting the IFM approach by taking steps like researching the existing processes, communicating with the stakeholders, benchmarking the goals, and finally integrating the technology. Since taking IFM services means making fundamental changes in the operations of the business and modifying plenty of moving parts, its execution requires vast research.

The companies study the present state of facilities management to determine the IFM standards. There is clear communication on the transitioning plans so that the entire organisation understands the changes. This can be done with the help of surveys, focus groups, and open meetings to encourages questions and suggestions.

The IFM company identifies and explains the return on investment and justifies the changes in the processes and responsibilities to their clients. Integrated technology like IoT and other latest software capabilities, help the IFM clients to expand their businesses.

Key Supplier Profiles included in the Global Integrated Facilities Management Market

The key market players in the global facility management market include IBM, Oracle, Trimble, CA Technologies, SAP, Archibus, Accruent, Maintenance Connection, MCS Solutions, Planon, Ioffice, Jadetrack, Metricstream, Emaint, Facilities Management Express, etc.

The report covers capacity additions, plant shutdowns, investments/divestments, mergers and acquisitions, and other latest developments of the suppliernutms.

Also Check Other Industry Reports

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We work with a diverse range of procurement teams across industries to get real-time data and insights that can be effectively implemented by our customers. We also track the prices and production costs of an extensive range of goods and commodities, thus, providing you with the updated and reliable data. We, at Procurement Resource, with the help of the latest and cutting-edge techniques in the industry, help our clients understand the supply chain, procurement, and industry climate, so that they can form strategies which ensure their optimum growth.

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