Global Facility Management Services Market News and Trends: 2024-2029 Market Growing at a CAGR of 3.71%

Global Facility Management Services Market Overview

According to Global Market Monitor, the global facility management services market will reach $1382.75 billion in 2024 with a CAGR of 3.71% from 2024 to 2029.Facilities management services are the services that support the functionality, safety, and sustainability of buildings, grounds, infrastructure, and real estate. This includes maintenance and optimization of facilities, lease management, capital project planning, and more. Facilities management services are the day-to-day operations necessary to ensure a physical environment supports an organization’s needs and core function.

Market Trends

Intelligent technology can effectively improve environmental comfort and employee satisfaction. Innovative technological solutions often attract modern building users. It is predicted that AI, IoT, and robots will be further applied in the field of facility management. Science and technology can help facility managers improve management efficiency and reduce on-site manpower dispatch. During the forecast period, the facility management software is used to cut operating expenses and improve the efficiency of the whole enterprise. It is expected that the popularity of cloud-based facility management solutions and SaaS (Software as a Service) will also increase the demand for facility management services.

The facility management system provides unique and original functions, as well as complex, customized, reliable, and cost-saving solutions. To take advantage of these advantages, consumers are more inclined to engage in cloud-based facility management services. It contributes to cloud-based security and network attack prevention. Facilities management solutions delivered as software as a service (SaaS) can be accessed and managed from almost anywhere. As the facility management software is cloud-based, users can access it at any time.

Market News

In May 2024, Gates Development entered into a partnership with Imdaad Egypt, a company specializing in integrated facilities management services, a partnership that ensures optimal services and facilities for the company's current and future projects.

April 2024: Smart Check secured funding from Incred Capital in a funding round facilitated by Lakhani Financial Services.

In February 2024, CBRE Group,Inc. and Arlington Capital Partners acquired J&J Worldwide Services, a provider of engineering services, base support operations, and facility maintenance to the U.S. federal government.

Market Segmentation

More and more enterprises outsource non-core functions (including facilities management) to focus on core competencies, and outsourced facilities management services occupy a larger market share.

The commercial is the largest application area for facilities management services, and commercial Facilities Management Services will receive a one-stop solution for all contractors and management services to provide integrated maintenance and construction services for customers' business operations, including shopping malls, retail stores, restaurants, cafes, etc.

By Type	Outsourced FM
	In-house FM
	The outsourced FM segment contributes the largest market share.
By Application	Commercial
	Institutional
	Public/ Infrastructure
	Industrial
	Others
	The commercial segment occupies the biggest share.

For more industry information, please refer to our latest released "2023 Global Facility Management Services Market Analysis Report, Key Competitors, Market Effect Factors, Growth, And Forecast".