Procurement Resource’s New Integrated Facilities Management Industry Intelligence Report (2022) – Analyses the Key Sourcing Strategies, Demand Indicators, Price Drivers, and Supplier Assessment

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According to a new report by Procurement Resource titled, ‘Global Integrated Facilities Management Industry Report: Analysis and Forecast 2022-2027’, the global integrated facilities management market attained a value of about USD 55.1 billion in 2021. The industry is further expected to grow at a CAGR of over 13.36% in the forecast period of 2022-2027 to reach a value of USD 116.5 billion by 2027.

Category Driver

The increasing trend of getting digitised, 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 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.

Industry Developments in terms of Technology/Innovation/R&D/Sustainability

Leading service providers such as Sodexo, CBRE Group Inc., ISS A/S, and Johnson Controls International plc. are embracing new and innovative technologies to offer better and superior facility type of management services to their clients. For instance, in October 2019, CBRE Group Inc. announced an enterprise Software-as-a-Service (SaaS) 3D visualisation tool called ‘Plans Pro’ that assists the organisations to make fast and effective decisions on innovative and prevailing conventional design standards that deliver a broader variety of integrated services like facilities management, project management, transaction management, etc. In June 2020, SAP affiliated with Honeywell to build a collaborative cloud-based solution that would help enhance developing performance. This cloud-based solution will be based on Honeywell Forge enterprise performance management solution and SAP Cloud Platform, facilitating customers to take advantage of building performance optimisation, including decreased carbon footprint and lesser energy costs, accompanied by a better-quality occupant experience. Besides, ServiceChannel a leading provider of SaaS-based multi-site solutions was acquired by Fortive in July 2021. Fortive’s offering of Facility and Asset Lifecycle workflow solutions was expanded, along with Accruent and Gordian. Also, in April 2021, MRI Software acquired Manhattan Real Estate and Workplace Solutions from Trimble. Furthermore, SAP affiliated with Honeywell in June 2020, to build a collaborative cloud-based solution that would help enhance developing performance. This cloud-based solution will be based on Honeywell Forge enterprise performance management solution and SAP Cloud Platform, facilitating customers to take advantage of building performance optimisation, including decreased carbon footprint and lesser energy costs, accompanied by an excellent occupant experience.

Key Findings of the Report:

  • While 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 unexpected outburst of the COVID-19 crisis has resulted in the rising popularity of facility management systems across various sectors to automate several operations, limiting the workplace, ensuring the availability of essential tools to maximise productivity, develop asset tracking, and others. 
  • To overcome the pandemic challenges, IFM companies are focussing on customer services so that they can stay connected with the customers according to their choice of channels, create vibrant resources for flexible times, and adjust to situation-based environments. The pandemic crisis forced the industry to re-evaluate its business operating models to provide consumers value for their investments.
  • The increasing trend of getting digitised, 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.
  • 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.
  • 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.
  • The execution of the promising government policies promoting infrastructural automation, paired with the growing adoption of software-as-a-service (SaaS) deployment model, is expected to drive the market further.
  • Owing to the presence of multiple organised and unorganised market players in the Asia Pacific region, countries like India and China had the biggest market share.
  • North America 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.

Why Choose Procurement Resource?

  • The integrated facilities management industry report includes preferred sourcing strategies by key suppliers present in the category
  • The report provides an overview of the production process along with recent technologies being positioned
  • The information regarding price movement, price hedging, and demand-supply is also included in the report
  • The integrated facilities management industry report further offers category-specific regional trends and market dynamics
  • The report also covers supplier profiles including financial data, product portfolio, and recent category-based initiatives 
  • It provides extensive data pertaining to the demand, supply, cost, and pricing of integrated facilities management services, along with an in-depth analysis of key indicators of category demand and pricing 
  • The integrated facilities management industry report provides category-based buyer and supplier negotiation levers and sourcing and procurement practices
  • The report extensively assesses the demand influencing and restricting factors on a regional and global level

About Us:

Procurement Resource ensures that our clients remain at the vanguard of their industries by providing actionable procurement intelligence with the help of our expert analysts, researchers, and domain experts. Our team of highly seasoned analysts undertakes extensive research to provide our customers with the latest and up-to-date sourcing and industry reports, cost models, price analysis, benchmarking, and category insights, which aid in simplifying the procurement process for our clientele. We work with a diverse range of procurement teams across industries to get real-time data and insights that our customers can effectively implement. We also track the prices and production costs of an extensive range of goods and commodities, thus, providing our clients with updated and reliable data. We, at Procurement Resource, with the help of the latest and cutting-edge methodologies in the industry, help our clients understand the supply chain, procurement, and industry climate to form strategies that ensure their optimum growth.

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Procurement Resource’s New Integrated Facilities Management Industry Intelligence Report (2022) – Analyses the Key Sourcing Strategies, Demand Indicators, Price Drivers, and Supplier Assessment

Email Delivery

According to a new report by Procurement Resource titled, ‘Global Integrated Facilities Management Industry Report: Analysis and Forecast 2022-2027’, the global integrated facilities management market attained a value of about USD 55.1 billion in 2021. The industry is further expected to grow at a CAGR of over 13.36% in the forecast period of 2022-2027 to reach a value of USD 116.5 billion by 2027.

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