The global integrated facility management services market was valued at almost USD 113 billion in 2016 and is expected to surpass USD 153 billion by 2021.
Procurement market intelligence analysts have announced its latest market research report on integrated facility management services for the period 2017-2021. This market analysis discusses the major drivers and key emerging trends that will influence the growth of the integrated facility management services market during the forecast period. Some of the top vendors listed in this industry analysis include JLL, CBRE, Sodexo, Compass Group, and Cushman & Wakefield.
In terms of geographical analysis, the Americas were the largest shareholder in the global market during 2016 with a market share of around 43% of the overall market share. This can be attributed to the demand for integrated solutions to achieve cost savings in the region.
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According to Angad Singh, a procurement specialist at Technavio for research on category spend intelligence, “Organizations are looking forward to analyzing facilities management spend against industry benchmarks to optimize spend and achieve cost savings. Moreover, the analysis of spend enables a faster decision-making process, which helps to save money and improve results. The increasing analysis and benchmarking of FM spend helps identify and promote best practices as well as reduces cost.”
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The new procurement market intelligence report analyzes some of the key drivers and trends responsible for the growth of this market and its sub-segments.
Demand for integrated solutions to reduce costs and management complexities
To sustain in a highly competitive market, buyers are opting for suppliers that have the expertise to provide flexible, accountable, and efficient solutions, such as the integrated facility service model. Such a business model eliminates barriers between different service functions by implementing just one layer of supervision and control and end-to-end control of all the people involved in delivering services, which, in turn, makes the system more efficient and cost-effective.
Growing demand for value-added services
Buyers in the market seek to engage with service providers that can effectively cater to value-added needs such as addressing social concerns of staff, designing solutions that focus on reducing the impact of ecological footprints, and upholding/increasing shareholder value across regions. As a result, there is an increased demand for integrated facility management service providers in the market. For instance, EMCOR provides value-added services such as switchboard and laundry services to Novartis’ facilities in the UK.
Increasing demand for cost-effective analytic-based FM solutions
Buyers are engaging with service providers that offer analytics-based solutions to extract maximum value from large data sets. Such solutions help buyers enhanced decision-making abilities, increase in revenue, and reduces risk. Growing awareness about these benefits is prompting buyers to outsource their FM requirements to IFM service providers to leverage their expertise in effectively implementing analytics-based solutions.
A more detailed analysis is available in the procurement market intelligence report titled, ‘Global Integrated Facility Management Services – Procurement Market Intelligence 2017’.
