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Facility Management Market to Register 5.0% CAGR till 2028; Surging Investments in Infrastructural Development to Aid Market Growth: Fortune Business Insights™

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Pune, India, May 12, 2021 (GLOBE NEWSWIRE) — The global Facility Management market size is projected to reach USD 1,759.25 billion by 2028, exhibiting a CAGR of 5.0% during the forecast period. Fortune Business Insights™ shares this information in its report, 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”. As per the report, the market stood at USD 1,234.55 billion in 2020 and USD 1,249.45 billion in 2021. Facilities Management services have gained high popularity in recent years among several industries such as healthcare, defense, and government. Enterprises operating in the aforementioned market ensure smooth working of operations, communication, sanitation, and hospitality for companies.

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Prevailing Gap between Demand and Supply to Impact Need for Facility Management

The COVID-19 pandemic has given a significant boost to the demand for hygiene-related services in numerous industries. This has positively impacted the market. However, the expanding gap between supply and demand for sanitary products has resulted in negative market growth. On the basis of our findings, the market exhibited a lower growth of -0.2% in 2020 compared to the average year-on-year growth during 2017-2019.

Market Segmentation

We have categorized the market on the basis of service type, industry, and geography. In terms of type, the market is divided into hard services, soft services, and other services. Based on the application, it is fragmented into healthcare, government, education, military & defense, real estate, and others. Amongst these, the real estate segment earned 29.7% in 2020 in terms of share. The persistent growth of the construction industry across the globe is expected to drive this segment. Lastly, on the basis of geography, it is segmented into North America, Europe, Latin America, Asia Pacific, Land the Middle East & Africa.

What Does the Report Offer?

The report provides a detailed analysis of key market aspects, namely, dominant companies, end-users, and leading product types. Apart from this, it contains tangible insights into the current & upcoming market trends and highlights prominent industry developments. In addition to these factors, the report supplies a holistic understanding of the main drivers, restraints, and segments that are contributing to the growth of the market.

Click here to get the short-term and long-term impact of COVID-19 on this market.

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Driving factors

Increasing Focus on Infrastructure Development to Drive Growth

Infrastructural development has been a key factor in the overall development of nations worldwide. For instance, according to the estimations given by Business Roundtable, an investment equivalent to one percent of the GDP of the U.S. would have added nearly USD 320 billion to the economic output of the country.  Surging investments in the development of infrastructure by governments and major enterprises globally are anticipated to drive the Facility Management market growth. In addition, rapid industrialization in developing countries globally is predicted to further boost the demand for Facility Management services. However, the majority of key nations lack the required resources that aid enterprises provide cutting-edge services. This may hinder growth in the long run.

Regional Insights

Rapidly Surging Industrialization in China and India to Boost Demand in Asia Pacific

The market size in Asia Pacific stood at USD 479.53 billion in 2020. The region is estimated to dominate the market during the forecast period. China, one of the prominent countries in the region, has a population of nearly 1.39 billion people, which enables the country to provide cheaper labor compared to other nations. This makes the country a favorite location for industries worldwide to establish their manufacturing units. On the other hand, India is an emerging nation in terms of industrialization, which is again backed by the second population in the country. These factors are anticipated to scale up the Facility Management market share in the region.

The market in North America is anticipated to showcase considerable growth during the projected timeline. The rapid adoption of latest technologies, such as 5G, internet of things, and artificial intelligence by several end-user industries, is estimated to accelerate the demand for Facility Management in the region.

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Competitive Landscape

Strategic Partnerships to Help Key Players Acquire New Customers

Key enterprises operating in the global market are focusing on strategic partnerships to add more services to their portfolios. This will help them acquire new customers. For instance, in June 2020, Sodexo, a leading hospitality management company, partnered up with Bureau Veritas, a pioneer and testing and inspection services. The partnership will help Sodexo attain a hygiene verification label for its services.

Industry Developments:

In May 2019, Dussmann Technical Solutions (DTS), one of the leading systems and plant engineering developers, announced the acquisition of STS Group. The agreement will help DTS improve its technical engineering services. 

List of Key Companies Covered 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 Methodology/Approach
    • Data Sources
  • Key Takeaways
  • Market Dynamics
    • Macro and Micro Economic Indicators
    • Drivers, Restraints, Opportunities and Trends
    • Impact of COVID-19
      • Short-term Impact
      • Long-term Impact
  • Competition Landscape
    • Business Strategies Adopted by Key Players
    • Consolidated SWOT Analysis of Key Players
    • Porter’s Five Force Analysis
  • Global Facility Management Key Players Market Share Insights and Analysis, 2020  
  • Key Market Insights and Strategic Recommendations
  • Companies Profiled (Covered for key 10 players only)
    • Overview
      • Key Management
      • Headquarters etc.
    • Offerings/Business Segments
    • Key Details (Subjected to data availability in public domain and/or on paid databases)
      • Employee Size
      • Key Financials
        • Past and Current Revenue
        • Geographical Share
        • Business Segment Share
    • Recent Developments
  • Annexure / Appendix
    • Global Facility Management Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2017-2028
      • By Service Type (Value)
        • Hard Services
        • Soft Services
        • Other Services
      • By Industry (Value)
        • Healthcare
        • Government
        • Education
        • Military & Defence
        • Real Estate
        • Others (IT & Telecommunication, BFSI, etc.)
      • By Region (Value)
        • North America
        • Europe
        • Asia Pacific
        • Middle East & 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

Soft Services Facilities Management Market Size, Share & Industry Analysis, By Service Type (In-house and Outsourcing), 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

Vertical Milling Machine Market Size, Share and Industry Analysis, By Type (Turret Mills, Bed Mills, and Others), By Application (Automotive, General Machinery, Precision Engineering, Transport Machinery, and Others) and Regional Forecasts, 2019-2026

Elevators Market Size, Share & Industry Analysis, By Type (Traction with Machine Room, Machine Room Less Traction, Hydraulic), By Installation (New Installation, Maintenance, Modernization), By Application (Residential, Commercial, Industrial) and Regional Forecast, 2019 – 2026

About Us:

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

Elevate Your Virtual Reality Experience with KIWI design RGB Vertical Stand, Now Available on Meta’s Website

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LOS ANGELES, May 11, 2024 /PRNewswire/ — Top-tier VR accessories provider KIWI design has launched its latest product, the RGB Vertical Stand. This Meta-authorized accessory, designed to deepen users’ immersion in the metaverse, is now available on the official Meta website.

“KIWI design’s commitment to pushing the boundaries of virtual reality accessories takes another leap forward with the introduction of our new products,” said Ray,the CEO of KIWI design. “We are always dedicated to bringing innovative upgrades to VR device accessories, with the goal of enriching users’ virtual reality experiences.”
The newly launched RGB Vertical Stand features a user-friendly modular design with push-in assembly, making it easy to set up and use. It is compatible with Meta Quest 3, Quest 2, and Quest Pro, ensuring widespread usability. With a magnetic USB Type-C connector, it provides an effortless way to charge and display your headset. Users can also customize their display with 16 pre-set ambient multicolor RGB light options.
With VR technology constantly evolving, users are seeking more immersive experiences. As a leading manufacturer of VR accessories, KIWI design is committed to enhancing the user experience, through unique product designs. Since its establishment in 2015, KIWI design has acquired over 100 patents and has a diverse product lineup, including head straps, facial interfaces, VR stands, charging accessories, and controller grip covers.
KIWI design has also actively participated in the Made for Meta program, which is provided by Meta to strengthen its partnerships with leading brands to deliver accessories that enhance Meta products with more choice and a richer experience for everyone. KIWI design’s participation in this program validates its high-quality design standards.
The RGB Vertical Stand for Meta Quest 3, Quest 2, and Quest Pro and another specially designed authorized charging dock for the Meta  Oculus Quest 2 are now available for purchase on both KIWI design’s website and Amazon. For more information about our brand and products, please visit our website and follow KIWI design on Facebook, Instagram, X, YouTube and TikTok.
https://www.kiwidesign.com/
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WIO Taps Gracenote to Revolutionize Television Broadcast Reporting

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LOS ANGELES, May 11, 2024 /PRNewswire/ — WIO LLC, parent company of the global TV broadcast airings platform, WIOpro™, has announced a new strategic agreement with Gracenote, the global content data business unit of Nielsen, to address the longstanding challenge of accurately tracking and collecting music royalties generated by broadcast television and digital programming, With this agreement, WIO will integrate Gracenote TV program metadata and show airings into its WIOpro™ (“When’s It On – Professional”) platform enabling performance rights organizations, copyright management organizations and other entities to better monitor broadcast schedules and identify when royalties have been earned.

By integrating Gracenote historical program data into WIOpro’s new LookBack™ feature, WIO is enhancing its reporting capabilities and empowering Collection Societies, Rights Management Companies and the royalty-earning community to more easily monitor and export broadcast airings and better understand collections opportunities.
“At WIO, we are committed to empowering collection societies and copyright holders around the world with our platform tools and unprecedented access to the best and most accurate television broadcast and streaming data available,” said Shawn Pierce, Co-Founder and CEO of WIO LLC. “We have enjoyed an incredible relationship with Gracenote for 10 years. With the solidification of this agreement, we are able to deliver an unrivaled dataset to the royalty and residual community in a way that has not been offered before.” said Adam Shafron, Co-Founder and CTO of WIO LLC.
“WIO’s platform developed to solve the difficult matter of royalty tracking only becomes more powerful based on the integration of accurate, timely and comprehensive Gracenote metadata,” said Scott Monahan, Director, Strategic Partnerships, Gracenote. “We look forward to the combination of WIOpro’s technology and Gracenote’s program metadata delivering on the promise of transforming music royalty collection so that rights holders can be fairly compensated for use of their work.”
WIO and Gracenote will be at the MusicBiz 2024 conference in Nashville, TN May 13 – 16. Contact Dave Pelman, COO of WIO LLC at [email protected] for media queries or to book an appointment for a product demonstration.
About WIO:WIO is a technology company dedicated to providing broadcast television and digital programming data tailored specifically for the royalty and residual collection industry. Through its platform WIOpro (wiopro.com), users obtain access to real-time broadcast insights, reporting and curated data delivery.
About Gracenote:Gracenote is the content data business unit of Nielsen providing entertainment metadata, connected IDs and related offerings to the world’s leading creators, distributors and platforms. Gracenote enables advanced content navigation and discovery capabilities helping individuals easily connect to the TV shows, movies, music, podcasts and sports they love while delivering powerful content analytics making complex business decisions simpler.
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IDTechEx Explores Printed Electronics in Electrified and Autonomous Mobility

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BOSTON, May 10, 2024 /PRNewswire/ — Electrification, autonomy, and vehicle ownership saturation are causing a technological revolution in the automotive sector. These automotive meta-trends are driving drastic changes in electronic component requirements and present a high-volume opportunity for printed electronics to capitalize on.

Historically, printed electronics technologies have nurtured a close relationship with the automotive sector, with printed force sensors pioneering passenger safety through seat occupancy and seatbelt detection. As such, the automotive sector continues to represent the lion’s share of the global printed and flexible sensor market, which IDTechEx’s report on the topic evaluates as worth US$421M in 2024. However, if the automotive sector is to continue to be a reliable revenue stream, printed electronics technology providers must adapt to address the emerging technical challenges facing future mobility.
Augmenting autonomous vehicles with printed electronics
As vehicle autonomy levels advance, the increasing number and distribution of spatial mapping sensors required will need continuous performance improvements to ensure passenger safety. Emerging printed electronics technologies can augment these sensors, extending detection bandwidth and maximizing reliability during operation.
Transparent conductive films (TCFs) are being developed to heat and defog LiDAR sensor panels, ensuring the function is unperturbed by external environmental conditions. Properties such as high transparency and low haze are important for defogging. These properties can be easily tuned using the wide variety of material options available for TCFs, including carbon nanotubes and silver nanowires.
IDTechEx identifies printed heating as a leading application of transparent conductive films. This is attributed to diminishing growth prospects in capacitive touch sensing applications. Innovations in thin film coating techniques have enabled indium tin oxide (ITO) to dominate touch sensing applications, all but displacing TCFs completely.
Looking towards the future, printed electronics technologies could play a more active role in advanced autonomous driving. Emerging semiconductive materials, such as quantum dots, printed directly onto conventional silicon image sensor arrays can extend detection range and sensitivity deeper into the infrared region. Augmenting existing image sensor technology with enhanced spectral range could facilitate the competition of hybrid silicon sensors with established InGaAs detectors.
Printed sensors promise granularized battery health monitoring
Vehicle electrification is driving the sustained development and evolution of electronic management systems, particularly in the battery and electric drivetrain. A strong market pull exists for technologies that increase vehicle efficiency, range, and lifetime while reducing recharge times.
Printed pressure and temperature sensors measure battery cell swelling and thermal profiles, providing granularized physical data that can be used to optimize battery deployment and recharging. Moreover, hybrid printed sensors that combine integrated printed heating elements promise a solution to actively address battery temperature. IDTechEx estimates that printed sensor-enabled battery deployment and charging optimizations could be worth up to US$3000 in savings per vehicle.
There remains uncertainty about whether electrification trends will correspond to increased demand for physical sensors in electric vehicle batteries, owing to the utility of existing electronic readouts for managing deployment. Virtual sensors also pose a threat, where AI-enabled software models interpret data to predict and emulate physical sensor functions without the need for discreet components. However, emerging regulations regarding safety and sensor redundancy will likely favor measurable metrics and see automotive makers continue to adopt physical sensors. IDTechEx predicts that virtual sensors are unlikely to displace their physical counterparts – so long as low-cost sensors remain widely available.
Embedding printed electronics in the car of the future
IDTechEx predicts that global car sales will saturate over the next decade, with automakers increasingly looking for premium features and technical innovations to differentiate themselves from the competition. In-cabin technologies will be highly desirable – as the location where passengers reside and interact with the vehicle the most.
Lighting elements are emerging as a prominent differentiator, described as “the new chrome” by Volkswagen’s chief designer. The use of in-mold structural electronics (IMSE) enables the integration of embedded lighting elements using existing manufacturing processes. 3D electronics technologies are intrinsically attractive for automotive integration, as functional layers are conformable and lightweight while easily embedded within existing aesthetic elements.
Despite strong tailwinds, the adoption of in-mold electronics within automotive interiors has been sluggish. This is attributed to the challenges of meeting automotive qualification requirements, as well as stiff competition with less sophisticated alternatives such as applying functional films to thermoformed parts. Nevertheless, momentum is building, with technology providers like Tactotek partnering with Mercedes-Benz and Stallantis to progress the automotive validation of IMSE to TRL5.
Outlook for printed electronics in automotive applications
Just as printed force sensors heralded early passenger safety systems, printed electronics technology is poised to underpin next-generation innovations for the car of the future. But this time, the competition will be stiff. Critical cost requirements must be met, while desirable new functionality must address existing challenges faced by manufacturers. Printed electronics can play a role in supporting emerging electrified and autonomous mobility, such as augmenting LiDAR sensors or optimizing electric battery deployment. Demand for technologies that enhance passenger experience and vehicle aesthetics will continue to grow, and printed electronics can supply low-power, lightweight lighting solutions for these.
Sustained engagement from tier suppliers and manufacturers continues to make the automotive sector key to printed sensor market growth opportunities – a total market IDTechEx predicts will reach US$960M by 2034. Strong partnerships between material providers and printed electronics technology providers are complementary to those of the highly vertically integrated automotive value chains between tier suppliers and OEMs. Leveraging printing techniques to provide solutions that slot into existing manufacturing processes and designs will be crucial. In the medium term, the printed electronics technologies most likely to realize revenue potential are those that can adapt to service emerging challenges already known to the automotive industry.
For more information on IDTechEx’s research on this topic, please see their report, “Printed and Flexible Sensors 2024-2034: Technologies, Players, Markets”. Downloadable sample pages are available for this report.
For the full portfolio of printed and flexible electronics market research from IDTechEx, please visit www.IDTechEx.com/Research/PE.
About IDTechEx:
IDTechEx provides trusted independent research on emerging technologies and their markets. Since 1999, we have been helping our clients to understand new technologies, their supply chains, market requirements, opportunities and forecasts. For more information, contact [email protected] or visit www.IDTechEx.com. 
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