Press Release

Global Integrated Facility Management Market to Cross $ 127 Billion by 2024

Growing construction sector and technological advancements to drive global integrated facility management market through 2024.

According to TechSci Research report, “Global Integrated Facility Management Market By Type, By Resource Type, By Solution, By Deployment Type, By End-User, By Region, Competition, Forecast & Opportunities, 2024”, integrated facility management market, globally, is projected to surpass $ 127 billion by 2024, on account of growing IoT adoption and increasing demand for connected devices for building automation across various industry verticals. Some of the other key factors that would have a positive impact on global integrated facility management market are growing presence of many enterprises, rising development of sustainable infrastructure, and changing organizational structure & work management.

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By deployment mode, the integrated facility management market has been categorized into on-premises and cloud. Of these segments, cloud category is expected to grow at the fastest rate during forecast period, owing to increasing cloud storage capacity and advancements in the field of cloud computing technology. In coming years, Asia-Pacific integrated facility management market is anticipated to register the fastest growth, on account of increasing construction activities and booming end-user sectors in the region. The market for integrated facility management in the Asia-Pacific region is also gaining impetus due to growing outsourcing culture and acceptance of higher-value integrated facility management proposition among MNCs and large corporations. Japan, India and China are the leading markets for facility management in the Asia-Pacific region.

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“Rising number of commercial and residential buildings in major cities is expected to push global integrated facility management market. Demand for reduced operational costs and increasing adoption of outsourced services by industrial applications is driving facility management market worldwide. Smart City initiative in several developed and developing nations coupled with booming IT sector is likely to positively influence global integrated facility management market over the course of next five years.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

Global Integrated Facility Management Market By Type, By Resource Type, By Solution, By Deployment Type, By End-User, By Region, Competition, Forecast & Opportunities, 2024” has evaluated the future growth potential of global integrated facility management market and provides statistics and information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in global integrated facility management market.

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