A rise in demand for standardisation and simplification of facilities in industries and residential buildings due to the need for good working environment and reduced energy output costs are expected to positively influence the global integrated FM market, says new research.
Reportlinker expects the market to grow from $84.65 billion in 2020 to $116.25 billion by 2026, having segmented into hard services and soft services, where hard service segment held a market share of around 53% in 2020 due to rise in investments in energy and project management to achieve long-term efficiency.
Based on service, the market is segmented into building and property management, cleaning and hygiene, security and staffing, IT support and others. Among these, the market share of building and property management segment was around 26% in 2020.
The report says the increasing development of sustainable infrastructure and growing presence of many enterprises to adopt changing organisational structure and work management are the key drivers for the growth of the global FM market.
The largest contributor to demand is North America, with around 39.15% value share in 2020.
The leading players as ranked in the report are 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.