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U.S. Facility Management Market Size, Share & Trends, 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

Last Updated: April 08, 2024 | Format: PDF | Report ID: FBI107653

 

KEY MARKET INSIGHTS

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The U.S. facility management market size is projected to grow at a CAGR of 5.5% during the forecast period.


Facility Management refers to the management of buildings and their infrastructure, including maintenance, repairs, cleaning, security, and other related services. Facility services are essential for ensuring that buildings and facilities are safe, efficient, and well-maintained. In the U.S., the growing demand for FM industry is expected, with many organizations opting to outsource their facility management tasks to third-party service providers.


LATEST TRENDS


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Advancements in Technology to Proliferate the Facility Management Market Growth


The ways of managing facilities are changing due to advancements in technology. Facility managers use tools and management software such as sensors, predictive analytics, and building automation systems to optimize building performance, reduce energy consumption, and improve the occupant experience. According to an International Facility Management Association (IFMA) survey, 80% of facility management professionals believe technology is transforming the industry. The survey also revealed that the top technologies adopted in facility management include building automation systems, energy management systems, and computerized maintenance management systems.


DRIVING FACTORS


Healthcare Industry is Expected to Boost the U.S. Facility Management Market


The healthcare industry is one of the fastest growing sectors in U.S., with an aging population and increasing healthcare needs, driving the demand for healthcare facilities. Further, these facilities are highly complex and require specialized knowledge and expertise to manage effectively. Also, facilities must meet high safety, cleanliness, and infection control standards. The healthcare sector is adopting new technologies to improve patient care and reduce cost. Moreover, many health organizations outsource facility management activities to third-party providers.


Therefore, healthcare sector bolsters the U.S. market growth for the aforementioned reasons.


RESTRAINING FACTORS


Regulatory Challenges to Hinder Market Growth


Facility management activities are subject to numerous regulations related to safety, health, and environmental standards. These regulations can be complex and difficult to navigate, which can increase the cost and complexity of facility management activities.


SEGMENTATION


By Service Type Analysis


Hard Services Segment to Hold Major Market Share Aided by Development in Infrastructure Sector


By service type, the market is categorized into hard services, soft services, and other services.


The hard services segment is likely to hold a major market share due to the continued subsequent growth of the infrastructure industry. Furthermore, soft services, the fastest-growing sub-segment within the service type category, account for most of the revenue share due to increasing demand for cleaning and security services.


By Industry Vertical Analysis


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Real Estate Segment to Dominate Market during the Forecast Period


By industry vertical, the market is classified into healthcare, government, education, military & defense, real estate, and others.


The real estate segment to hold the largest share in the U.S. market during the forecast period, attributed to increasing demand for facility management services, especially in the commercial real estate sector.


Furthermore, the healthcare segment will grow during the forecast period, owing to the increased focus on health and safety in facility management after COVID-19.


KEY INDUSTRY PLAYERS


Partnership with Local & Regional Players to Aid Prominent Players in Growing their Presence


To strengthen their presence, corporations focus on securing new contracts. In addition, these businesses are implementing innovative technology to deliver better and more comprehensive property management services to their customers.


LIST OF KEY COMPANIES PROFILED:



KEY INDUSTRY DEVELOPMENTS:



  • January 2023: A global leader in workplace experience and facility management, ISS A/S, has announced the expansion and extension of its partnership with a prominent technology company.

  • September 2022: Siemens Energy signed the five-year contract with EMCOR Facilities Services Inc. (EMS), division of EMCOR Group. EFS to provide over 100 employees across 49 North American sites of Siemens.

  • May 2022: Chevron U.S.A. Inc. entered into a long-term agreement with Aris Water Solutions, Inc. for full cycle water management in the Permian Basin. Aris will be responsible for managing produced water handling and recycling services in a specific area of Chevron’ core position in the Delaware Basin, which includes certain acreage in Texas (Culberson and Reeves Counties) and New Mexico (Eddy and Lea Counties).

  • November 2021: CBRE Group, Inc. acquired 60% stake in Turner & Townsend Holdings Limited, cost consultancy, program management, advisory consulting services providers for clients in 46 countries.


REPORT COVERAGE


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The research report provides a detailed analysis of the types and industry verticals. It provides information about leading companies and their business overview, types, and leading applications. Besides, it offers insights into the competitive landscape, SWOT analysis, and current market trends and highlights key drivers and restraints. In addition to the aforementioned factors, the report encompasses several factors contributing to the market's growth in recent years.


Report Scope & Segmentation

















































  ATTRIBUTE



  DETAILS



Study Period



2019-2030



Base Year



2022



Estimated Year



2023



Forecast Period



2023-2030



Historical Period



2019-2021



Growth Rate



CAGR of 5.5% from 2023 to 2030



Unit



Value (USD Billion)



Segmentation



By Service Type and Industry Vertical



Segmentation



By Service Type



  • Hard Services

  • Soft Services

  • Other Services



By Industry Vertical



  • Healthcare

  • Government

  • Education

  • Military & Defense

  • Real Estate

  • Others (IT & Telecommunication, BFSI)






Frequently Asked Questions

Fortune Business Insights says that the value of the global market was USD 259.7 billion in 2022.

The market is projected to reach USD 384.4 billion by 2030.

The market is projected to grow at a CAGR of 5.5%, exhibiting moderate growth during the forecast period (2023-2030).

The hard services segment is anticipated to lead the market during the forecast period.

Healthcare sector to drive the market.

Sodexo, CBRE Group, Inc., ISS A/S, and Johnson Controls International plc. are the top companies in the market.

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