Soft Services Facilities Management Market to Grow at 5.2% CAGR till 2026; Increasing Outsourcing of Services in Developed Nations to Foster Growth

The global soft services facilities management market size is slated to hit USD 635.13 billion by 2026 as advancements in energy management technologies pick up pace. This information is shared in the new Fortune Business Insights™ report, titled “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”, which states that the market value stood at USD 425.53 billion in 2018 and is projected to display a CAGR of 5.2% from 2019 to 2026.

Culligan and AquaVenture to Merge, Sign Definitive Merger Agreement

Mergers and acquisitions, one of the leading soft services facilities management market trends, are fast becoming a trademark of this market, best exemplified by the recent merger of AquaVenture and Culligan. In December 2019, the US-based water treatment company Culligan Water and another US-based water purification solutions provider AquaVenture Holdings announced that the two companies have entered into a definitive merger agreement. Under the agreement, Culligan will buy AquaVenture’s shares worth almost USD 1.1 billion, fusing together the two companies’ resources and facilities. More importantly, Culligan will now have free access to AquaVenture’s flagship Water-as-a-Service^® (WAAS^®) platform, which will strengthen Culligans position as an innovator in sustainable water solutions.

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/soft-services-facilities-management-market-102634

Deficiency in Technical Knowhow to Forestall Market Growth

Incorporation of next-generation technologies such as Artificial Intelligence (AI), Internet of Things (IoT), and Machine Learning (ML) in the domain of facilities management has improved the efficiency and productivity of businesses by a substantial margin. Moreover, these technologies are also environment-friendly, which has further spiked their adoption. However, operating and handling these systems requires fine expertise, deep understanding, and a specialized skillset. Unfortunately, workers possessing these attributes are very few in number as learning the nitty-gritties of these technologies is expensive and time-consuming. Moreover, not all companies have the financial wherewithal to provide training and up-skilling employees in these modern systems.  As a result, the uptake of automated soft services facilities management solutions has not taken off the rate at which it has been envisaged.

Key Players to Implement Position Consolidation Measures

The competitive landscape of this market is dominated by the presence of a limited number of core companies that have a proven record of success in the field of facilities management. In an attempt to deepen their hold in the market, most of these companies are adopting a variety of position-strengthening strategies, mainly mergers and acquisitions, launch of innovative products, and operational expansion at the global level.

Industry Development:

• November 2018: Broadcom Inc., the US-based infrastructure software solutions provider, completed its acquisition of New York-based computer technology company CA Technologies for an estimated value of USD 18.9 billion. The move is expected to broaden Broadcom’s customer base and diversify its offerings.

List of Major Companies Covered in the Report:

• Johnson Controls International plc.


• Cushman & Wakefield plc.


• Aramark


•  ISS A/S


• Sodexo


•  AMEC Facilities


• Tenon Group


• Jones Lang LaSalle Incorporated


•  Compass Group


• CBRE Group Inc.

Further Report Findings:

• The market size in Asia-Pacific stood at USD 128.20 billion in 2018 and the region is expected to continue its dominance of the soft services facilities management market share throughout the forecast period. The main force behind the region’s leading position is the strong presence of facilities management companies, providing services across various industry end-users in the region.


• In North America and Europe, the market is anticipated to showcase steady growth owing to the heavy investments made governments in these regions in the healthcare and IT sectors, which is generating intense demand for facilities management services.


• On the other hand, the market in Latin America and Middle East & Africa will experience a booming period on account of rapid development of commercial infrastructures in these regions, according to the soft services facilities management market report.


• The real estate segment (by industry vertical) held a share of 34.5% in 2018 and is expected to maintain its leading position owing to increasing focus of governments in emerging economies on building smart cities.     

Table of Segmentation