Facility Management Market to Rise at 6.7% CAGR over 2023-2030; Growing Infrastructure Spending to Boost Growth

The global facility management market size hit USD 1,260.0 billion in 2022. The market valuation is slated to rise from USD 1,291.6 billion in 2023 to USD 2,031.4 billion by 2030 at a 6.7% CAGR during the forecast period.

Fortune Business Insights™ presents this information in its latest report titled “

Facility Management Market Size, Share, Trends & Covid-19 Impact Analysis, By Service Type (Hard Services, Soft Services, and Other Services), By Industry Vertical (Healthcare, Government, Education, Military & Defense, Real Estate, and Others), and Regional Forecast, 2023-2030”.

According to the International Facility Management Association (IFMA), facility management entails duties such as equipment upkeep, space planning, and portfolio forecasting and integrates a physical workplace with an organization's workforce. These services include emergency planning and business continuity, environmental sustainability, human factors, communication, project management, quality, real estate and property administration, leadership, and strategy, among other things. This industry, which is described as offering maintenance support, user management, and project management, has seen significant growth over the past 20 years as a result of the initial rise in urbanization and industrialization.

COVID-19 Pandemic Created Several Roadblocks for the Market

Due to the ensuing lockdowns, the COVID-19 pandemic has caused economic chaos. The industry has also been affected, but since the pandemic started, facility managers have battled by looking into new opportunities for remote work or socially isolated workplaces. In contrast, future market growth is anticipated to be driven by rising consciousness of cleanliness, management, maintenance, and security. On account of these factors, the market managed to recover gradually following a brief impact.  

NHS Introduced New Facility Management Solution for Enterprise Businesses

In May 2022, NHS Shared Business Services launched its second-generation Hard Facilities Management framework agreement (Hard FM). The organization's second iteration of its very effective framework is made to address the NHS's requirement for high-quality, novel, and affordable solutions that aid NHS trusts in effectively managing their estates. The revised framework now encompasses COVID-19 safety requirements and places a particular focus on sustainability and innovation.

Cloud-based Facility Management Solutions to Witness Explosive Growth

Currently, hosting facilities administration software in the cloud is safe and secure. By fostering greater security and cooperation among teams and subsidiaries spread out across numerous areas, they also help businesses cut costs. Other benefits of cloud-based facilities management systems include secure hosting of sensitive data, improved security and scalability, and quick disaster recovery. The backups are additionally kept on a public or private cloud hosting platform, enabling companies to rapidly access crucial server data. The aforementioned factors augment the facility management market growth.

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Competitive Landscape

Major Players Focus on Mergers & Acquisitions to Stay Ahead of Competition

Multinational firms concentrate on mergers and acquisitions in order to increase their presence in developing countries. Additionally, these companies are integrating cutting-edge technology to offer their clients better and more complete property management services. For instance, in October 2019, CBRE Group Inc. unveiled "Plans Pro," a business Software-as-a-Service (SaaS) 3D visualization tool that enables users to decide more quickly on new and existing custom design standards and provide a wider range of integrated services, such as facility management, project management, and transaction management.

Notable Industry Development:

• January 2022: JLL completed the acquisition of Hank, an AI-powered virtual engineering platform. The platform boosts the management systems of commercial buildings autonomously, unlocking better air quality, comfort, and power savings.

List of the Companies Profiled in the Report:

• Sodexo (France)


• CBRE Group, Inc. (U.S.)


• ISS A/S (Denmark)


• Compass Group (U.K.)


• Tenon Group (India)


• Johnson Controls International plc. (Ireland)


• Dussmann Group (Germany)


• Serco Group PLC (U.K.)


• OCS Group International Limited (U.K.)


• Dussmann Gulf LLC (U.A.E.)


• G4S Plc (U.K.)


• EFS Facilities Services Group (U.A.E.)


• Veolia Environment (France)

Further Report Findings

• Due to the existence of several organized and unorganized businesses in China and India, Asia Pacific is predicted to dominate the market share. Established businesses are focusing on forging alliances with regional companies to expand their geographic reach and offer their services to end-users.


• The introduction of new technologies such as the Internet of Things, artificial intelligence, robotics, and others is expected to cause the North American market to grow gradually.


• Europe is anticipated to grow significantly during the coming years. It is a result of governments in numerous countries in the region implementing preventative measures.

Table of Segmentation