Commercial Sector to Dominate the United States Facility Management Market During the Forecast Period
Government projects
and upcoming sporting events are expected to drive the United States facility
management market growth during the forecast period.
According to TechSci Research report, “United States Facility Management Market -
By Region, Competition Forecast & Opportunities, 2018-2028,” the United States Facility Management Market is expected to register
robust growth during the forecast period, 2023-2028. Facility Management (FM) is a
multidisciplinary profession dedicated to ensuring the functionality, safety,
comfort, and efficiency of the built environment through the integration of
people, processes, places, and technology. FMs contribute through their
responsibility to maintain the organization's most important and valuable
assets, including assets, equipment, buildings, and other environments that
house personnel, productivity, inventory, and other operational elements
contribute to revenue.
Facilities management solutions are used
to reduce operating costs and improve efficiency across an organization.
Increasing adoption of facilities management in the corporate, residential, and
educational sectors is projected to drive the facilities management market over
the forecast period. Additionally, growing demand for disinfection, cleaning,
spot sterilization, and workplace-specific disinfection standards is driving
the global facility management market. The growing popularity of Software-as-a-Service
(SaaS) and cloud-based facility management solutions is also fueling the demand
for facility management services. The construction industry is growing rapidly owing
to industrialization and population growth around the world. Governments of
various countries have invested heavily in infrastructure development such as
stations, airports, commercial buildings, and ports. This is a key growth
driver for the facility management market. Facility management software is
widely used to reduce the running costs of maintaining and managing various
facilities and bring convenience and safety to people.
Browse over XX market data Figures spread
through 70 Pages and an in-depth TOC on the "United States Facility Management Market".
The United States
Facility Management Market is segmented into service, type, industry, end user,
and sectors. Based on service, the market is divided into property,
cleaning, security, support, catering, and others. Based
on end user, the market
is further segmented into commercial, residential, industrial, public sector. During
the projected period, the commercial segment is expected to dominate the
market. Commercial construction serves business purposes through new buildings
such as offices and new industrial facilities. Service providers provide all
the basic building infrastructure such as window cleaning, elevator
maintenance, building repairs, door and ceiling painting and maintenance.
Flexible workplaces with sustainable IT infrastructure have exploded over the
years in the Northeastern United States. The region has some of the cleanest
programs, mechanisms, and policies that promote the adoption of green
technology. Professional cleaning services in the United States are
experiencing growth due to the growing popularity of “green cleaning
technology.” The use of sustainable detergents, including special chemicals,
equipment and technology, are contributing significantly to the growth of the
market.
Based on sectors, the market is segmented
into education, healthcare, real estate, banking, hospitality,
housing, and others. During the projected period, the healthcare segment is expected to dominate the
market.. The healthcare system has developed into one of the major sectors due
to the increasing number of patients and rising healthcare costs in the public
and private sectors of the healthcare system. According to data released by the
Centers for Medicare and Medicaid Services (CMS), US national health care
spending is expected to reach nearly USD6.0 trillion by 2027. Healthcare
spending is growing tremendously, with various facilities being developed in
hospitals and clinics for the benefit of patients. In the United States, the
healthcare industry (hospitals, nursing homes, etc.) is increasingly
outsourcing facility management services to specialize third-party facility
management providers. The number of Americans aged 65 and over is projected to
nearly double from 52 million in 2018 to 95 million by 2060, rising from 16% to
23% of the total population. A higher percentage of older people in the
population require more healthcare services than the young ones. Such issues
can be handled efficiently using facility management services, which are
expected to grow during the forecast period.
Key market players in the United States Facility Management Market: -
- CBRE Group, Inc.
- Cushman &
Wakefield plc
- Sodexo, Inc.
- Jones Lang LaSalle
Incorporated
- Emeric Facility Services
- ISS
Facility Services, Inc.
- Guardian Service Industries, Inc.
- SMI Facility Services
- Shine Management & Facility Services
- AHI Facility Services, Inc
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"The United States shows potential with its
infrastructure with several government initiatives & projects. As the US is
set to host the two most important global sporting events during the forecast period, one being 2028 summer Olympics and
other one being FIFA 2026 world cup, the FM market is set to have a ton of
projects. Healthcare has always been a key issue in the country and any
additional initiative will only boom the industry,"
said Mr. Karan Chechi, Research Director with TechSci Research, a research-based
global management consulting firm.
“United States Facility Management Market By
Service (Property, Cleaning, Security, Support,
Catering & Others), By Type (Hard Services and Soft Services), By Industry (Organized, Unorganized), By End
User (Commercial, Residential, Industrial, Public Sector), By Sectors
(Education, Healthcare, Real Estate, Banking, Hospitality, Housing, Others) By
Region, Competition Forecast
& Opportunities, 2018-2028,” has evaluated the future
growth potential of United States Facility Management Market and
provides statistics & 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 United States Facility Management Market.
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