The research study involved four major activities in estimating the facility management market size. Exhaustive secondary research has been done to collect essential information about the market and peer markets. The next step was to validate these findings and assumptions and size them with the help of primary research with industry experts across the value chain. The top-down and bottom-up approaches were used to estimate the market size. After the market breakdown, data triangulation was utilized to estimate the sizes of segments and sub-segments.
Secondary Research
The market size of the companies offering facility management solutions to various end users was determined based on the secondary data available through paid and unpaid sources, analyzing the product portfolios of major companies in the ecosystem, and rating the companies based on their performance and quality. In the secondary research process, various sources were referred to identify and collect information for the study. These include annual reports, press releases, investor presentations of companies, white papers, certified publications, and articles from recognized associations and government publishing sources.
Secondary research was mainly used to obtain critical information about industry insights, the market’s monetary chain, the overall pool of key players, market classification and segmentation based on the industry trends to the bottom-most level, regional markets, and key developments from market- and technology-oriented perspectives.
Primary Research
In the primary research process, various sources from the supply and demand sides were interviewed to obtain qualitative and quantitative information for the report, such as Chief Experience Officers (CXOs), Vice Presidents (VPs), directors from business development, marketing, and product development/innovation teams, and related key executives from facility management solutions vendors, system integrators, professional and managed service providers, industry associations, independent consultants, and key opinion leaders.
Primary interviews were conducted to gather insights, such as market statistics, data on revenue collected from platforms and services, market breakups, market size estimations, market forecasts, and data triangulation. Stakeholders from the demand side, such as Chief Information Officers (CIOs), Chief Finance Officers (CFOs), Chief Strategy Officers (CSOs), and the installation team of end users who use facility management solutions, were interviewed to understand buyers’ perspectives on suppliers, products, service providers, and their use of facility management solutions which is expected to affect the overall facility management market growth.
Note: Tier 1 companies have revenues over USD 1 billion, Tier 2 companies have revenues between
USD 500 million and 1 billion, and Tier 3 companies have revenues less than USD 500 million.
Other designations include sales managers, marketing managers, and product managers.
Source: Industry Experts
To know about the assumptions considered for the study, download the pdf brochure
Market Size Estimation
Both top-down and bottom-up approaches were used to estimate and validate the total size of the facility management market. These methods were also used extensively to estimate the size of various subsegments in the market.
Facility Management Market : Top-Down and Bottom-Up Approach
Data Triangulation
The facility management market was split into several segments and sub-segments after determining the overall market size from the above estimation process. To complete the overall market engineering process and arrive at the exact statistics for all segments and sub-segments, data triangulation and market breakdown procedures were used, wherever applicable. The data was triangulated by studying various factors and trends from the demand and supply sides. The facility management market size was validated using top-down and bottom-up approaches.
Market Definition
According to IBM, facility management can be defined as the tools and services that support the functionality, safety, and sustainability of buildings, grounds, infrastructure, and real estate. Facility management includes lease management (lease administration and accounting), capital project planning and management, maintenance and operations, energy management, occupancy and space management, employee and occupant experience, emergency management and business continuity, and real estate management.
BOMI Institute defines facility management as the process of coordinating the physical workplace with the people and work of an organization. The primary function of facility management is to plan, establish, and maintain a work environment that effectively supports the goals and objectives of the organization.
Stakeholders
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Facility management solution providers
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Managed service providers
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Integration service providers
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Cloud service providers
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Facility management service providers
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Building automation solution providers
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Architects, engineers, and contractors
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Consultancy firms and advisory firms
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Regulatory agencies
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Technology consultants
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Governments
Report Objectives
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To determine, segment, and forecast the global facility management market by offering, solution, service, vertical, and region in terms of value
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To forecast the size of the market segments for North America, Europe, Asia Pacific, Middle East & Africa, and Latin America
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To provide detailed information about the major factors (drivers, opportunities, threats, and challenges) influencing market growth
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To study the complete value chain and related industry segments, and perform a value chain analysis of the facility management market landscape
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To strategically analyze the macro and micro markets concerning individual growth trends, prospects, and contributions to the total market
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To analyze the industry trends, pricing data, patents, and innovations related to the market
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To analyze the opportunities for stakeholders by identifying the high-growth segments of the facility management market
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To profile the key players in the market and comprehensively analyze their market share/ranking and core competencies
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To track and analyze competitive developments, such as mergers & acquisitions, product launches & developments, partnerships, agreements, collaborations, business expansions, and R&D activities
Available Customizations
With the given market data, MarketsandMarkets offers customizations based on the company’s specific needs. The following customization options are available for the report:
Geographic Analysis as per Feasibility
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Further break-up of the Asia Pacific market into countries contributing 75% to the regional market size
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Further break-up of the North American market into countries contributing 75% to the regional market size
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Further break-up of the Latin American market into countries contributing 75% to the regional market size
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Further break-up of the Middle East & African market into countries contributing 75% to the regional market size
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Further break-up of the European market into countries contributing 75% to the regional market size
Company Information
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Detailed analysis and profiling of additional market players (up to five)
LARGEST MARKET IN 2024- 2029
CANADA FASTEST GROWING MARKET IN THE REGION
Growth opportunities and latent adjacency in Facility Management Market