The global facilities management consultancy services market was valued at almost USD 14 billion in 2016 and is expected to surpass USD 17 billion by 2021.
Procurement market intelligence analysts have announced its latest market research report on facilities management consultancy services for the period 2017-2021. This market analysis discusses the major drivers and key emerging trends that will influence the growth of the facilities management consultancy services market during the forecast period. Some of the top vendors listed in this industry analysis include Cushman & Wakefield, CBRE, JLL, ISS, and Deloitte.
In terms of geographical analysis, Europe led the global facilities management consultancy services market by accounting for 31% of the overall market share, followed by North America with a market share of 24%.
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According to Angad Singh, a procurement specialist at Technavio for research on category spend intelligence, “The global market is currently witnessing an increase in the benchmarking capabilities of facilities management spending. Businesses are partnering with consultancy firms to formulate an appropriate operational strategy that includes quantitative factors that can be mapped against similar organizations and organizational standards. This enables facility managers to control the spending and performance.”
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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 value-added services
Businesses across the globe are exploring unconventional methods of cost reduction for their facilities management services. To meet this demand, facility management services are increasingly structuring organizational policy to include non-traditional methods such as evaluating the impact of social, environmental, and economic aspect as these will reduce costs. Furthermore, consulting firms are also assisting businesses in selecting facilities management service providers that deliver a uniform set of services that can be implemented across several geographical regions.
Digital and business model disruptions
Innovations related to technology and sustainability in the facilities management industry are spurring the emergence of business models that can enable businesses to extend the lifecycle of their facilities. Technological innovations such as BIM, smart buildings, IoT, and automated systems are causing significant disruptions in the market. Businesses are increasingly partnering with consulting firms as they can help garner a better understanding of such innovations and identify technologies or models that are best suited for their operating model.
Interdepartmental integration of organizational functions
Businesses are exploiting the increased availability of facility data to enhance their efficiency. For instance, one of the major challenges that organizations face is space management. Consulting companies along with facility managers and the HR department make use of the facility-related data for space management.
A more detailed analysis is available in the procurement market intelligence report titled, ‘Global Facilities Management Consultancy Services – Procurement Market Intelligence 2017’.
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