The global unified facility management market is growing rapidly over ~15% of CAGR and is expected to reach at USD ~ 70 Billion by the end of forecast period. The Global Unified Facility Management Market is set to register a CAGR of 15% during the forecast period 2017 to 2023. The valuation of the global market is poised to reach USD 70 Bn by the end of 2023. The thriving services sector coupled with the accelerating adoption of digitization and automation across different industry verticals is likely to augment the global market in the foreseeable future. —
Global Unified Facility Management Market, By Components (Software, Service, Solution), By Deployment Type (On Cloud, On Premises), By Applications (BFSI, IT & Telecom, Healthcare, Education, Retail) - Forecast 2023
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The prominent players in the global unified facility management market are – Oracle Corporation (U.S.), International Business Machines Corporation (U.S.), Archibus, Inc. (U.S.), SAP SE (Germany), CA Technologies (U.S.), Trimble Navigation, Ltd. (U.S.), iOffice Corporation (U.S.) Accruent LLC. (U.S.), Planon Corporation (Netherlands), FM Systems, Inc. (U.S.) and among others.
The study reveals that unified facility management is trending in North America region. The growing requirement of organization to create efficiencies, service delivery at the low cost and others, has boost the market growth of unified facilities management in last few years. The unified facility management market is growing with the growing trend of digital technology. The advanced technologies including Internet of Things, Big Data, 3D printing, energy management, and others are on the verge of breaking into the region. With the adoption of unified facilities management, the companies are looking overseas for future growth, and are trying to penetrate in small medium organizations and others.
In North America region, the unified facility management demand is growing with huge demand among various verticals such as retail, manufacturing, real estate, healthcare and other. The prominent companies such as Oracle Corporation (U.S.), FM Systems, Inc. (U.S.) are offering unified facility management solutions that can improve the performance at reduced cost. Due to the changing market trends & emerging opportunities, unified facility management market is estimated to grow with huge demand in the market.
The advanced unified facility management are growing with digitization, automation and the Internet of Things for maintaining an improved workplaces and better end results. The company like GE, IBM, SAP and others, are providers of IoT platform, has went into collaboration with facility service providers, such as CBRE, ISS World, and ENGIE, to provide a unified facilities management solution by integrating with multiple building automation systems.
In September 2018, Aldar Properties, Abu Dhabi, took over Khidmah, a Facility Management (FM) company for serving better services to its direct and indirect customers.
In October 2018, International Business Machine (IBM), an American multinational information technology company, has acquired Red Hat Inc., an American multinational software company providing open-source software products. The deal is worth USD 33 Bn.
In November 2018, ISS Group, a leading global facility management services provider, has assigned Coupa Software, the leader in Business Spend Management (BSM), for transforming procure-to-pay (P2P) process with a user-friendly solution for enhanced efficiency and increased saving.
By components, the unified facility management market has been segmented into software, service, and solution.
By deployment type, the global unified facility management market has been segmented into on cloud and on premises.
By applications, the global unified facility management market has been segmented into BFSI, IT & telecom, healthcare, education, and retail.
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Market Research Analysis:
On geographic basis, global unified facility management market is studied in different regions as Americas, Europe, Asia-Pacific and Rest of world. It has been observed that North America region is leading with market share growth in the unified facility management market. The unified facility management are gaining huge demand in various sectors such as education, healthcare and others. In this market, Europe is to be estimated to be the second largest market share for unified facility management during the forecast period. Asia Pacific is expected to forecast the highest CAGR in the coming years.
LIST OF TABLES
Table 1 Unified Facility Management Market, By Components
Table 2 Unified Facility Management Market, By Deployment Type
Table 3 Unified Facility Management Market, By Applications
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LIST OF FIGURES
Figure 1 Research Methodology
Figure 2 Unified Facility Management Market: By Components (%)
Figure 3 Unified Facility Management Market: By Deployment Type (%)
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