DUBLIN, June 4, 2018 — (PRNewswire) —

The "Facility Management Market by Solution (IWMS, BIM, Operations & Security, Environment, Property Management), Service (Auditing & Quality Assessment, SLA Management), Deployment Type, Organization Size, Vertical, and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.

The global market size to grow from USD 34.65 Billion in 2018 to USD 59.33 Billion by 2023, at a Compound Annual Growth Rate (CAGR) of 11.4% during the forecast period.

The major growth factors for the market include growth in the development of sustainable infrastructure, and in the adoption of IoT and connected devices for building automation across industry verticals. Moreover, an increasing need to meet environmental and regulatory compliance, and spur in the demand for integrated facility management to achieve economies of scale are also driving the market. The facility management market is segmented on the basis of solutions, services, organization size, deployment types, verticals, and regions.

In the solutions segment, the facility property management subsegment is expected to hold the largest market share. Facility property management solutions help enterprises derive tangible value from their business operations, by enhancing their efficiency and effectiveness. These solutions are further segmented into lease accounting and real estate management, asset maintenance management, workspace and relocation management, and reservation management.

Moreover, in the solutions segment, the IWMS subsegment is expected to grow at the highest rate; IWMS is an integrated solution that supports processes in facility management and real estate management. IWMS provides an extensive range of facility management tools under a single, unified software platform. It increases visibility, control, and automation of enterprise real estate management, capital project, space management, facility maintenance, and energy management requirements.

The service segment is divided into deployment and integration, consulting, auditing and quality assessment, support and maintenance, and SLA management. The SLA management segment is expected to grow at the highest rate attributed to the fact that facility management vendors enable their clients to maintain and manage all SLAs and further help facility management teams to monitor the availability and performance of their critical facility management SLAs.

The deployment and integration service is expected to hold the largest market share in the service segment due to the fact that it enables identification of business processes, analysis of operational risks, and development of management plans and policies to improve facility performance and management. Moreover, facility management vendors assist enterprises in realizing a high Return on Investment (RoI), by offering multi-vendor application integration and reliable analysis of the centralized data.

The large enterprises segment is expected to hold a larger market share in the facility management market by organization size, mainly due to the fact that facility management solutions enable enterprises to monitor and regulate complex and huge facility infrastructures. In the deployment type segment, the cloud deployment type is expected to grow at a higher CAGR during the forecast period, mainly due to the fact that the cloud deployment model enables organizations to manage their costs but also helps them ensure improved business agility.

The IT and telecom vertical is expected to hold the largest market share in the facility management market. Enterprises in the banking vertical should manage multi-site facilities and face various challenges in managing the operations processes of their facilities. Due to the distributed portfolio of locations, facility managers face challenges in managing the facilities at small, rarely visited remote sites, outside the major city hubs. Enterprises in the BFSI vertical have to deal with the maintenance and management of various real estate investments. Facility management solutions, such as IWMS and CMMS, strategically help facility management teams manage various operations processes, such as asset management, maintenance management, and space management.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Attractive Market Opportunities in the Facility Management Market
4.2 Market By Vertical and Region
4.3 Market By Region
4.4 Market: Investment Scenario

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Need to Maintain Environmental and Regulatory Compliance
5.2.1.2 Increasing Demand for Integrated Facility Management to Achieve Economies of Scale
5.2.1.3 Changing Focus to Virtual Workplace and Mobility
5.2.1.4 Increasing Development of the Sustainable Infrastructure
5.2.1.5 Emergence of the Saas Deployment Model
5.2.1.6 Growing Adoption of IoT and Connected Devices for Building Automation
5.2.2 Restraints
5.2.2.1 Lack of Managerial Awareness and Dependency on the In-House Facility Management Team
5.2.3 Opportunities
5.2.3.1 Integration of Bim With Facility Management Solutions
5.2.3.2 Implementation of the Digital Twin Technology for Facility Asset Management
5.2.4 Challenges
5.2.4.1 Integration of Facility Management With Legacy ERP Systems
5.2.4.2 Lack of Skills and Expertise
5.2.5 Facility Management, By Type
5.2.5.1 In-House Facility Management
5.2.5.2 Outsourced Facility Management
5.2.5.3 Integrated Facility Management
5.2.6 Technology Trends
5.2.6.1 Cognitive Computing
5.2.6.2 IoT and Analytics
5.2.6.3 Augmented Reality
5.2.6.4 Robotics and Drones
5.2.7 Standards and Guidelines for Facility Management
5.2.7.1 International Organization for Standardization (ISO)
5.2.7.2 British Standards Institution (BSI)
5.2.7.3 European Committee for Standardization (CEN)
5.2.7.4 FMMS
5.2.7.5 South African Bureau of Standards (SABS)

6 Facility Management Market, By Solution
6.1 Introduction
6.2 Integrated Workplace Management System
6.3 Building Information Modeling
6.4 Facility Operations and Security Management
6.4.1 Lighting Control
6.4.2 HVAC Control
6.4.3 Video Surveillance and Access Control
6.4.4 Emergency and Incident Management
6.5 Facility Environment Management
6.5.1 Sustainability Management
6.5.2 Waste Management
6.6 Facility Property Management
6.6.1 Lease Accounting and Real Estate Management
6.6.2 Asset Maintenance Management
6.6.3 Workspace and Relocation Management
6.6.4 Reservation Management

7 Facility Management Market, By Service
7.1 Introduction
7.2 Deployment and Integration
7.2.1 System Integration
7.2.2 Implementation
7.3 Consulting
7.3.1 Facility Operations Consulting
7.3.2 Financial Consulting
7.3.3 Facility Technology Consulting
7.4 Auditing and Quality Assessment
7.5 Support and Maintenance
7.5.1 On-Demand Maintenance
7.5.2 Preventive Maintenance
7.5.3 Predictive Maintenance
7.6 Service Level Agreement Management

8 Facility Management Market, By Deployment Type
8.1 Introduction
8.2 On-Premises
8.3 Cloud

9 Market By Organization Size
9.1 Introduction
9.2 Small and Medium-Sized Enterprises
9.3 Large Enterprises

10 Facility Management Market, By Vertical
10.1 Introduction
10.2 Banking, Financial Services, and Insurance
10.3 IT and Telecom
10.4 Government and Public Administration
10.5 Healthcare
10.6 Education
10.7 Retail
10.8 Energy and Utilities
10.9 Manufacturing
10.10 Construction and Real Estate
10.11 Others

11 Facility Management Market, By Region

12 Competitive Landscape
12.1 Overview
12.2 Market Ranking Analysis
12.3 Competitive Scenario
12.3.1 New Product Launches
12.3.2 Business Expansions
12.3.3 Mergers and Acquisitions
12.3.4 Agreements, Collaborations, and Partnerships

13 Company Profiles
13.1 IBM
13.2 Oracle
13.3 SAP
13.4 Archibus
13.5 Trimble
13.6 CA Technologies
13.7 Accruent
13.8 Planon
13.9 FM:Systems
13.10 Ioffice
13.11 Maintenance Connection
13.12 MCS Solutions
13.13 Jadetrack
13.14 Metricstream
13.15 Facilities Management Express
13.16 Emaint
13.17 Hippo Cmms
13.18 Apleona
13.19 FSI
13.20 Indus Systems
13.21 Autodesk
13.22 Nemetschek
13.23 Archidata
13.24 Officespace
13.25 Facilityone Technologies

For more information about this report visit https://www.researchandmarkets.com/research/kr3mng/facility?w=5

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