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Global Integrated Facilities Management Industry Report: Analysis and Forecast 2022-2027
Integrated Facilities Management Industry Report by Regional Category Spend, Price Analysis, Key Demand, Price Indicators, and Best Buying Practices
The global Integrated Facilities Management (IFM) market reached a value of USD 55.1 billion in 2021. The industry is further expected to grow at a CAGR of about 13.36% in the forecast period of 2022-2027 to reach a value of USD 116.5 billion by 2027. While the COVID-19 pandemic disturbed almost all sectors including the IFM industry, nevertheless, by exploring new ways and searching for innovative solutions, the facilities management services sector has struggled back to establish services for working remotely and in the workplace keeping the social distancing in mind. The key demand indicator is the highest category spender by region—North America (the United States and Canada).
Integrated Facilities Management: Industry Definition and Segmentation
Scope
Integrated facilities management (IFM) refers to combining all the facilities management efforts and technologies under one cohesive team. IFM team can be divided into hard facilities management which involves components of building fabric and soft facilities management such as providing security, cleaning, and waste management services. IFM primarily comprises contracts, vendor collaborations, space management, and real estate planning. IFM services provide efficient services combined in a single agreement that gives their clients one point of contact for customer service, improved coordination between various facilities management services vendors, and combined costs to bring everything within the budget.
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The integrated facilities management industry 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.
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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 industry report 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 Services Industry Report
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.
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