IMARC Group’s latest research report, titled “Facility Management Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” offers a comprehensive analysis of the industry, which comprises insights on the facility management market. The facility management market research report also includes competitor and regional analysis, and contemporary advancements in the market. The global facility management market size reached US$ 62.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 132.1 Billion by 2028, exhibiting a growth rate (CAGR) of 13.52% during 2023-2028.
Facility Management Market 0utlook:
Facility management is the practice of overseeing and maintaining the physical assets and infrastructure of an organization or facility to ensure their proper functioning, safety, and efficiency. It involves a wide range of activities, including managing the operation, maintenance, and upkeep of buildings, equipment, and systems within a facility. The primary goal of facility management is to create and maintain a productive and comfortable environment that supports several activities of the organization. This includes providing a safe and secure workplace, managing utilities and services, optimizing space utilization, and implementing sustainable practices. It is gaining traction as it assists facility managers in coordinating various functions and services to ensure the smooth operation of the facility.
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Top Facility Management Companies Worldwide:
Global Facility Management Market Growth:
The global market is majorly driven by rising awareness regarding the benefits of facility management. Also, the increasing focus on outsourcing facility management services to concentrate on the core activities while leveraging the expertise and resources of external facility management companies is driving the demand on the global level. Moreover, the growing emphasis on cost efficiency is a significant driver in the facility management market as organizations are constantly seeking ways to optimize their facility-related expenses while ensuring high-quality service delivery. Facility management providers offer expertise in cost management, energy efficiency, maintenance planning, and vendor management, enabling organizations to achieve cost savings and operational excellence.
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