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Facility Management Market to Hit USD 1.62 Trillion by 2027; Increasing Number of Construction Activities Globally to Drive Growth, says Fortune Business Insights™

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Pune, India, May 10, 2021 (GLOBE NEWSWIRE) — The global facility management market size is projected to reach USD 1.62 trillion by 2027. In developing and developed nations, government bodies nowadays are striving persistently to strengthen their economic diversifications. To do so, they are investing huge sums in non-economic sectors, which also include the tourism sector. For instance, in September 2019, Saudi Arabia’s government declared that it is planning to begin issuing tourist visas for the very first time. As per a published report by Fortune Business Insights™, titled, “Facility Management Market Size, Share & Industry Analysis, By Service Type (Hard Services, Soft Services, and Others Services), By Industry (Healthcare, Government, Education, Military & Defense, Real Estate and Others) and Regional Forecast, 2020-2027” the facility management market stood at USD 1.24 trillion in 2019. It is set to showcase a CAGR of 4.0% during the forecast period.

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Urgent Need to Keep Containment Zones COVID-19-free will Aid Growth amid Pandemic

The outbreak of the COVID-19 pandemic has resulted in severe losses for a large number of industries. Regulatory bodies in the U.K., U.S., Italy, China, and Spain are investing more in their facility management services for keeping their containment zones coronavirus-free. Some of the renowned companies are focusing on providing end-to-end services to governments and businesses, thereby enabling them to work from restricted areas. We are providing elaborate research reports to help our clients find the best strategy for increasing sales.

Segmentation-

Real Estate Segment Held 29.6% Share in 2019: Fortune Business Insights™

Based on the service type, the market for facility management is segregated into hard services, soft services, and others. By industry, it is fragmented into healthcare, government, education, military & defense, real estate, and others (IT & Telecommunication and BFSI). Amongst these, the real estate segment generated 29.6% in terms of the facility management market share in 2019. This growth is attributable to the expansion of the construction industry worldwide.

Report Coverage-

The report contains an accurate study of several regions and countries. It was developed by our analysts after evaluating various factors that regulate regional growth, such as political, technological, social, economic, and environmental status of that particular place. The competitive landscape section was developed to help our clients better understand the acquisitions and other strategies that key players are focusing on to strengthen their positions in the facility management industry.

Drivers & Restraints-

Increasing Construction of Railways, Airports, and Ports to Augment Growth

Governments of various countries are nowadays joining hands with private contractors to make their infrastructure green and clean. They are investing in the construction of airports, ports, and railways. The government of Saudi Arabia, for instance, rose around USD 36 billion for over eleven years for the betterment of transportation infrastructure. These factors are anticipated to bolster the facility management market growth in the upcoming years. However, the lack of funding and financial resources in emerging nations may hinder the demand for facility management services and create major challenges for small and medium-sized companies.

To get to know more about the short-term and long-term impact of COVID-19 on this market,

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Regional Insights-

Presence of Organized and Unorganized Players to Boost Growth in Asia Pacific

Geographically, Asia Pacific held USD 476.38 billion in terms of revenue in 2019. It is expected to remain at the forefront because of the presence of numerous organized and unorganized companies in China and India. North America, on the other hand, is set to showcase gradual growth backed by the early adoption of innovative technologies, such as robots, artificial intelligence, and IoT. But, lockdown measures amid the COVID-19 pandemic have impacted growth in Canada and the U.S. negatively.

In Europe, the rising implementation of precautionary measures by regulatory bodies would lead to moderate growth. Lastly, in Latin America and the Middle East and Africa, surging real estate sector and investments in tourism by governments would propel the demand for facility management services.

Competitive Landscape-

Key Players Focus on Website and Product Launches to Fulfil High Demand Worldwide

The global market for facility management contains various service providers that are mainly focusing on unveiling state-of-the-art products to cater to the high demand. Also, some of the others are aiming to introduce new websites to help educate customers about their products and services. Below are the two latest industry developments:

  • April 2021: UDS, a leading facility management company based in India introduced its new website that would enable clients to navigate easily. At the same time, they would be able to read in-depth blogs about how the company is playing a vital role in a wide range of industries.
  • April 2021: Tork announced the launch of its latest hygiene offering named Tork Office Hygiene Package. It would deliver tailored solutions to facility managers associated with novel challenges faced in multiple areas of office buildings, such as restrooms, receptions, breakrooms, conference rooms, and workspaces.

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A list of renowned providers of facility management services present in the global market:

  • Sodexo (France)
  • CBRE Group, Inc. (United States)
  • ISS A/S (Denmark)
  • Compass Group (United Kingdom)
  • Aramark (United States)
  • Jones Lang LaSalle Incorporated (United States)
  • Cushman & Wakefield plc. (United States)
  • Tenon Group (India)
  • Johnson Controls International plc (Ireland)
  • Dussmann Group (Germany)

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Table of Content

  • Introduction
    • Definition, By Segment
    • Research Approach
    • Sources
  • Executive Summary
  • Market Dynamics
    • Drivers, Restraints and Opportunities
    • Emerging Trends of Market
  • Key Insights
    • Macro and Micro Economic Factors
    • Key Technological Developments
    • Consolidated SWOT Analysis of Key Players
    • Porter’s Five Forces Analysis
    • Impact Analysis of Covid-19 on the Market
  • Global Facility Management Market Analysis, Insights and Forecast, 2016-2027
    • Key Findings / Summary
    • Market Sizing Estimations and Forecasts – By Service Type (Value)
      • Hard Services
      • Soft Services
      • Other Services
    • Market Sizing Estimations and Forecasts – By Industry (Value)
      • Healthcare
      • Government
      • Education
      • Military & Defence
      • Real Estate
      • Others (IT & Telecommunication, BFSI, etc.)
    • Market Analysis, Insights and Forecast – By Region (Value)
      • North America
      • Europe
      • Asia Pacific
      • Middle East and Africa
      • Latin America

TOC Continued.

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Have a Look at Related Research Insights:

Hard Services Facility Management Market Size, Share & Industry Analysis, By Service Type (Outsourced and In-house), By Industry Vertical (Healthcare, Government, Education, Military & Defense, Real Estate and Others) and Regional Forecast, 2019-2026

Hard Services Facility Management Market Size, Share & Industry Analysis, By Service Type (Outsourced and In-house), By Industry Vertical (Healthcare, Government, Education, Military & Defense, Real Estate and Others) and Regional Forecast, 2019-2026

Construction Equipment Rental Market Size, Share & Industry Analysis, By Equipment Type (Earthmoving Equipment, Material Handling Equipment, Concrete & Road Building Equipment, and Others), By Application (Residential, Commercial and Industrial) and Regional Forecast, 2019-2026

Chillers Market Size, Share & Industry Analysis, By Type (Screw Chillers, Scroll Chillers, Centrifugal Chillers, and Others), By Application (Chemicals and Petrochemicals, Food and Beverages, Plastics, Rubber, Medical, and Others), and Regional Forecast, 2019-2026

Hot Runners Market Size, Share & Industry Analysis, By Type (Open Gate Hot Runners, Valve Gate Hot Runners), By Industry (Consumer Goods, Medical, Packaging, Automotive, Others) and Regional Forecast, 2019-2026

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Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.

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Artificial Intelligence

Signant Health extends eCOA leadership position through operational innovations that reduce timelines by at least one-third

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PHILADELPHIA, May 8, 2024 /PRNewswire/ — Signant Health, the leader in evidence generation for modern clinical trials, announced today that it has substantially reduced implementation timelines for its flagship eCOA solution, TrialMax®. By leveraging process and technology enhancements, Signant’s operational teams can reduce the time it takes to go live with electronic patient-reported outcomes solutions by thirty percent or more.  

Sponsors and Contract Research Organizations (CROs) have relied on Signant’s eCOA solution for over 20 years. The solution is known for its flexibility, reliability, scientific support, global logistics support, and ability to scale to any size trial, anywhere in the world. Traditionally, the time to bring the system live for patients and sites was commensurate with the operational complexity and trial design.  
According to the company, customers can now benefit from this highly customizable eCOA solution along with Signant’s leading levels of science, scale, and service – delivered under much faster timelines.
“We are excited to offer customers the best of both worlds,” said Sanjiv Waghmare, Signant’s chief product officer. “They can get the fully featured, market-leading eCOA solution they already use and love, at a much faster pace. We believe this is especially meaningful as trial designs continue to increase in complexity. We want to ensure our customers hit their FPFV dates and start collecting high quality data without worrying about if their eCOA solution will be available.”    
According to Waghmare, Signant’s engineering and operational teams identified areas where process enhancements and automation could dramatically reduce common implementation steps regardless of trial complexity. These steps cover all aspects of a typical eCOA timeline including study build, testing, translations, scale management, and validation.
“This is just the beginning of our efforts to deliver complexity at speed, with outstanding quality,” continued Waghmare. “We are also bringing additional efficiencies to our processes that will accelerate post-implementation support, including reporting, analytics, and data change management.”
Signant also offers a tenured solution for eCOA studies as part of its Signant SmartSignals® Unified Platform, which is fully integrated with EDC, RTSM, eConsent, and telemedicine. For more information about all Signant’s eClinical solutions, go to www.signanthealth.com.
About Signant Health
Signant Health is the evidence generation company. We are focused on leveraging software, deep therapeutic and scientific knowledge, and operational expertise to consistently capture, aggregate, and reveal quality evidence for clinical studies across traditional, virtual, and hybrid trial models. For more than 25 years, over 600 sponsors and CROs of all sizes – including all Top 20 pharma – have trusted Signant solutions for remote and site-based eCOA, EDC, eConsent, RTSM, supply chain management, and data quality analytics. Learn more at www.signanthealth.com.
Contact: 
Heather [email protected]+1 610.400.4141
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Ness Digital Engineering Acquires Intricity – a New York based company specializing in data strategy, governance, modernization, and monetization

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NEW YORK, May 8, 2024 /PRNewswire/ — Ness Digital Engineering (Ness), a global full-lifecycle digital services transformation company, has acquired Intricity, a leading provider of data strategy, governance, modernization, and monetization solutions. The acquisition deepens Ness’s data offerings, which global F1000 clients have utilized to create new revenue streams and improve operating efficiencies.

“Ness has always had a strong capability in data engineering, and the acquisition of Intricity brings the data strategy and advisory capability. Furthermore, Ness will build on Intricity’s strategic alliances with Snowflake and Databricks,” said Ranjit Tinaikar, CEO, Ness Digital Engineering. “We are excited to welcome Intricity’s talented team to Ness, combining our strengths to deliver even greater value to our clients.”
Intricity brings deep expertise in handling complex data modernization and monetization problems that are the heart of any digital transformation today.
“Joining Ness, backed by KKR, presents an exciting opportunity to accelerate our growth trajectory worldwide. We are excited to leverage Ness’s global presence, digital competencies, and deep industry expertise to deliver digital transformation solutions to a wider range of clients,” said Arkady Kleyner, Principal & Co-Founder, Intricity. “Together, we are well-positioned to drive meaningful business outcomes and accelerate innovation for our clients.”
Commenting on the acquisition, Troy Clemente, Principal & Co-Founder, Intricity, added, “We have successfully established ourselves as experts covering the entire information lifecycle, and by joining Ness, we can accelerate our combined clients’ AI journeys based on modern data infrastructures.”
Zinnov acted as financial advisor to Ness Digital Engineering. 
For more information:Tanaya Misra, Global Head – PR & [email protected] 
About Ness Digital Engineering
Ness Digital Engineering, which funds managed by global investment firm KKR acquired in 2022, is a full-lifecycle digital engineering firm offering digital advisory through scaled engineering services. Headquartered in New York, Ness serves our customers across 11 innovation hubs in the US, Eastern Europe, and India. Combining our core competence in engineering with the latest in digital strategy and technology, we seamlessly manage Digital Transformation journeys from strategy through execution to help businesses thrive in the digital economy. For more information, visit www.ness.com. 
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Artificial Intelligence

Körber Pharma and Siemens Take the Lead in ABI Research’s MES Software for Pharmaceutical, Biotechnology, and Cell & Gene Manufacturing Competitive Ranking

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LONDON, May 8, 2024 /PRNewswire/ — The new Competitive Assessment by global technology intelligence firm ABI Research provides an in-depth and unbiased examination of the solutions offered by 13 manufacturing execution system (MES) software suppliers targeting pharmaceutical, biotech, and cell & gene manufacturing. The companies evaluated and ranked are:

Market Leaders: Körber Pharma, Siemens, Apprentice,  Rockwell Automation, and TulipMainstream: Dassault Systèmes, GE Digital, Honeywell, Emerson, MPDV, MasterControl, ParsecFollowers: Sepasoft
“Overall, the MES software market for pharmaceutical, biotechnology, and cell & gene manufacturing is highly competitive, and the top innovators offer very comparable solutions. Technology vendors are aggressively developing new functionality, and competitors must closely watch and identify areas where they can match or leapfrog software capabilities,” explains James Prestwood, Industrial & Manufacturing Industry Analyst at ABI Research.
A total of ten overarching criteria were chosen for the purposes of this analysis and segmented across innovation and implementation clusters. These include how comprehensive the solution is and what innovative functionality it offers, data visibility, accessibility, and security within the platform, the user experience, and the capacity of worker augmentation, the MES’s contribution to manufacturers digital thread capabilities, and the alignment of the MES software with the pharmaceutical, biotechnology, and cell & gene manufacturing markets. In addition, the report evaluates MES vendor’s ability to deliver rapid time to value, their experience in delivering the software to manufacturers, the extensiveness of the vendor’s partnership base, the support for SME manufacturers, and the comprehensiveness of the software’s pricing options.
Körber Pharma and Siemens came out on top in the competitor ranking, with both firms scoring well across all criteria. Apprentice ranked as the top innovator in the assessment, offering a wide range of strong functionality designed specifically for life sciences manufacturing, an excellent cloud-native design, and comprehensive low/no-code capabilities.  Dassault Systèmes scored particularly well in the implementation criteria, ranking second, with its center-of-excellence deployment model allowing manufacturers to quickly and consistently deploy and scale DELMIA Apriso.
“Pharmaceutical, biotech, and cell & gene manufacturing have been slow to embrace digital transformation but are now catching up. The industry’s strict regulations mean new solutions must be proven, and a premium should be placed on extensive deployment experiences when choosing solutions and technology partners,” Prestwood concludes.
These findings are from ABI Research’s MES Software for Pharmaceutical, Biotech, and Cell & Gene Therapy Manufacturing Competitive Ranking report. This report is part of the company’s Industrial and Manufacturing Markets research service, which includes research, data, and ABI Insights. Based on extensive primary interviews, Competitive Ranking reports offer comprehensive analysis of implementation and innovation strategies to offer unparalleled insight into a company’s performance and standing compared to its competitors.
About ABI Research
ABI Research is a global technology intelligence firm uniquely positioned at the intersection of technology solution providers and end-market companies. We serve as the bridge that seamlessly connects these two segments by providing exclusive research and expert guidance to drive successful technology implementations and deliver strategies proven to attract and retain customers.
ABI Research是一家全球性的技术情报公司,拥有得天独厚的优势,充当终端市场公司和技术解决方案提供商之间的桥梁,通过提供独家研究和专业性指导,推动成功的技术实施和提供经证明可吸引和留住客户的战略,无缝连接这两大主体。
For more information about ABI Research’s services, contact us at +1.516.624.2500 in the Americas, +44.203.326.0140 in Europe, +65.6592.0290 in Asia-Pacific, or visit www.abiresearch.com.
Contact Info:
GlobalDeborah Petrara Tel: +1.516.624.2558 [email protected] 
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