Integrated Facility Management Market [2028]: Top Trends, Size, and Competitive Intelligence - TechSci Research

Introduction

The global integrated facility management (IFM) market is poised for robust growth in the forecast period, driven by organizations' ongoing quest for operational efficiency and cost savings. According to the TechSci Research report titled “Integrated Facility Management Market - Global Industry Size, Share, Trends, Opportunity, and Forecast 2018-2028”, the market is projected to witness significant expansion, with a valuation of USD 99.47 billion in 2022 and a promising compound annual growth rate (CAGR) of 5.17% through 2028. This report delves into the various facets of the global IFM market, exploring emerging trends, key drivers, recent developments, and competitive dynamics shaping its trajectory.

Market Dynamics

Rising Demand for Cost Optimization

Organizations worldwide are increasingly focused on streamlining operations and optimizing resource allocation to remain competitive in a dynamic business landscape. IFM services offer a viable solution by centralizing and streamlining facility management functions, thereby unlocking opportunities for cost savings. Leveraging predictive maintenance and data-driven insights, organizations can minimize downtime, improve operational efficiency, and drive down operational expenses, thus enhancing their bottom line.

Browse market data Figures and an in-depth TOC on the "Global Integrated Facility Management Market.”

Integration of Advanced Technologies

The integration of advanced technologies, including the Internet of Things (IoT), artificial intelligence (AI), and data analytics, presents unprecedented opportunities for IFM providers to deliver innovative solutions. These technologies enable real-time monitoring, predictive maintenance, and data-driven decision-making, empowering organizations to optimize facility operations and enhance the overall occupant experience.

Recent Trends

Expansion of Retail Businesses

The global retail sector is witnessing significant expansion, with various retail businesses strategically opening new stores to broaden their market reach. For instance, in April 2023, IKEA store owner Ingka Group unveiled plans to invest EUR 2 billion (USD 2.2 billion) in expanding its footprint in the United States. This expansion drive underscores the growing demand for soft FM services to support the burgeoning retail infrastructure.

Focus on Real Estate Investment

Real estate investors are increasingly focusing on offices, industrial, and logistic properties, driving demand for IFM services. According to a survey by Colliers International, nearly 60% of global investors intend to invest in offices and industrial properties in 2023. This trend underscores the critical role of efficient facility management in maximizing the value of real estate assets and optimizing operational performance.

Outsourcing as a Productivity Enabler

Outsourcing facility management services to a single provider enables organizations to standardize service levels across different regions, thus enhancing productivity and efficiency. By implementing multiple key performance indicators (KPIs) and contract enforcement clauses, organizations can ensure consistent service delivery and accountability. With the outsourcing rate in North America projected to reach about 70%, the adoption of outsourced facility management solutions is poised for significant growth.

Market Segmentation

Dominance of Hard Services

The hard service segment is expected to dominate the IFM market during the forecast period. Hard services encompass energy management and conservation initiatives aimed at optimizing energy usage, reducing utility costs, and minimizing environmental impact. Additionally, security hard services play a crucial role in safeguarding physical assets and occupants by managing access control systems, surveillance cameras, alarms, and other security measures.

Building & Property Management Segment

The building and property management segment is projected to remain a dominant force in the IFM market throughout the forecast period. Space management is paramount for optimizing workspace and aligning it with organizational needs. Building and property management services aid in analyzing space utilization, planning office layouts, and implementing changes to enhance productivity and reduce costs. Moreover, these services are increasingly focused on sustainability and energy efficiency to meet evolving environmental standards and client preferences.

Competitive Analysis

The global IFM market is characterized by intense competition, with several key players vying for market share. Major companies operating in the market include:

• JLL Inc (Jones Lang LaSalle IP, Inc)

• ISS A/S (International Service System)

• CBRE Group Inc

• Cushman & Wakefield plc

• Sodexo

• Compass Group plc.

• Aramark Corporation

• Coor Service Management Holding AB

• Mitie Group PLC

• MacLellan Integrated Services, Inc.

Recent Developments

• In 2022, Aldar Properties PJSC announced the complete acquisition of Spark Security Services, a leading provider of manned guarding security services in the UAE, strengthening its position in the facility management market.

• In 2023, Willowmore Pte Ltd. and CBM Pte Ltd. established a partnership to develop an intelligent integrated management platform revolutionizing the facilities management industry.

• In December 2023, China's automotive company, BYD, announced a USD 412 million investment to supply South Korea's automaker KG Mobility Co. Ltd with EV batteries, advancing the EV ecosystem.

• In December 2023, JLL declared its commitment to providing integrated facilities management, lease administration, property management, and energy and sustainability services for various healthcare facilities and emergency departments across several cities in the United States.

• In July 2023, ECM Holding Group, Inc., a provider of energy efficiency retrofit services, was acquired by EMCOR Group, Inc., strengthening EMCOR's position in energy efficiency specialty services.

10 Benefits of the Research Report

1. Comprehensive Market Insights: Gain a deep understanding of the global integrated facility management market landscape, including key trends, drivers, and challenges.

2. Strategic Decision-Making: Equip yourself with actionable insights to make informed strategic decisions and capitalize on emerging opportunities.

3. Competitive Analysis: Stay ahead of the competition with a thorough analysis of the competitive landscape and key market players.

4. Market Size Estimation: Understand the current market size and projected growth trajectory to identify lucrative investment opportunities.

5. Trend Analysis: Stay abreast of the latest market trends and developments shaping the future of the IFM market.

6. Sectoral Analysis: Explore the various sectors driving market growth, including retail, real estate, and outsourcing.

7. Regional Analysis: Gain insights into regional dynamics and market trends to tailor your strategies according to regional nuances.

8. Technological Advancements: Stay updated on the integration of advanced technologies and their impact on the IFM market.

9. Recent Developments: Stay updated on recent developments and industry initiatives to anticipate future market trends and opportunities. 10. Risk Mitigation: Identify potential risks and challenges within the IFM market landscape and develop strategies to mitigate them effectively.

10. In summary, the TechSci Research report offers a comprehensive and insightful analysis of the global integrated facility management market. From emerging trends and drivers to competitive dynamics and recent developments, the report equips stakeholders with valuable insights to navigate the evolving IFM landscape successfully. By leveraging the report's findings, organizations can make informed decisions, capitalize on emerging opportunities, and stay ahead of the competition in this dynamic and rapidly evolving market.

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“The Global Integrated Facility Management Market in North America is poised to be the dominant force in the industry. The United States, in particular, is a major market for IFM services. The country's diverse industry sectors, including commercial, healthcare, education, and manufacturing, contribute to the growth of IFM services. Moreover, Canada is also witnessing a steady adoption of IFM solutions. North America is at the forefront of technological innovation. The adoption of IoT, data analytics, and automation is driving the IFM market in the region, enabling predictive maintenance, real-time monitoring, and smarter decision-making for facility management.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.

“Integrated Facility Management Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Type (Hard Service and Soft Service), By Service (Building & Property Management, Cleaning & Hygiene, Security & Staffing, IT Support and Others), By Solution (Asset & Space Management, Project Management & Real Estate Portfolio Management & Lease Administration, Energy & Environment Sustainability Management, Maintenance Management and Others), By End-User (BFSI, Utilities, Aerospace & Defense, Telecommunication, Manufacturing, Healthcare and Others), By Region, and By Competition,” has evaluated the future growth potential of Global Integrated 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 in Global Integrated Facility Management Market.

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