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Global Facility Management Growth Opportunities

Global Facility Management Growth Opportunities

  • December 2021
  • 132 pages
  • ID: 6193760
  • Format: PDF
  • Frost & Sullivan

Summary

Table of Contents

The global facility management (FM) market suffered a significant shock due to the COVID-19 pandemic.However, the market is bouncing back, with future growth focused on technology and sustainability.

The industry is undergoing a major transformation, driven by technology innovation, new business models, emerging value propositions, competitive disruption, and creative service offerings. FM services are commoditizing in many parts of the world, and there is a need for innovation and new value propositions if suppliers are to avoid the cost trap. The future of FM is technology-enabled, and the pandemic accelerated digital technology use. The Internet of Things (IoT), big data, and advanced connectivity will drive efficiency for service suppliers and clients. Meanwhile, the global FM market fights to get back onto a growth curve. The market will return to growth in 2021 but will not retrace back to the 2019 levels until early 2022. This study identifies the 15 most significant opportunities for growth across the short-, mid- and long-term future as the market recovers and redefines itself after the pandemic. This study also presents the growth outlook for the market until 2026. It analyzes the future of competition and the workplace, customer segments, service integration strategies, competitive trends, technology impact, and the market outlook for major regions, namely North America (NA), Europe, Asia, and the Rest of the World (RoW).In such a big and mature industry, organic growth is hard to find. Therefore, companies need to innovate if they are to keep growing and remain profitable. The market will continue to move quickly toward service integration, sophisticated advisory services focused on business productivity, and merger and acquisition (M&A) activity. This shift from cost focus to complete client advisory services, outcome selling, and value creation will underpin critical transformations in the FM market over the next 6 years. Post-COVID-19 innovation must focus on the digitalization of buildings, workplace optimization, providing healthy and safe buildings, new customer-centric business models, user experience, and holistic productivity solutions. There will be an increased need to focus on organizational resilience, sustainability, and augmented operations.
Author: Melvin Leong

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