Facility Management Market

IBM (US) and Oracle (US) are Leading Players in the Facility Management Market

The facility management market size is projected to grow from USD 39.5 billion in 2020 to USD 65.5 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 10.6% during the forecast period. Facilities management solutions help ensure the functionality, comfort, and efficiency of buildings and grounds, infrastructure and real estate.

The key and emerging players include IBM, Oracle, SAP, Trimble, Accruent, MRI Software, Planon, ServiceChannel, Service Works Global, FMX, Causeway Technologies, FM:Systems, Spacewell, iOFFICE, FSI, ARCHIBUS, Archidata, JadeTrack, UpKeep Maintenance Management, Apleona, FacilityONE Technologies, OfficeSpace Software, Facilio, eFACiLiTY, eMaint, and Axxerion USA. These players have adopted various strategies to grow in the global facility management market.

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IBM (US) is one of the leading vendors in the facility management market. The company offers a wide range of solutions for facility management that includes IBM TRIRIGA Facilities Manager, IBM TRIRIGA Real Estate Management Software, IBM TRIRIGA Capital Project Management Software, and IBM TRIRIGA Environmental and Energy Management Software. In addition, the company provides IBM TRIRIGA, which is an integrated facility management software that helps its clients to improve facilities operations, reduce facilities costs, and lower energy consumption. Its solutions and services help enterprises optimize facility performance and management. The company focuses more on the adoption of inorganic growth strategies to enhance its position in the facility management market. For instance, in April 2019, IBM collaborated with Sund & Bælt, a company that owns and operates some of the largest infrastructure in the world, to assist in IBMs development of an AI-powered IoT solution designed to help prolong the lifespan of aging bridges, tunnels, highways, and railways.

Oracle (US) is another leading facility management solution and services provider across the globe. The company offers a wide range of solutions for facility management. Solutions include Facilities and Asset Lifecycle Management (FALM), maintenance management, and capital project and program management. Oracle IWMS delivers a comprehensive suite of operational applications to manage the complete real estate life cycle. The company focuses on organic growth strategies to improve its place in the facility management market. For instance, in April 2019, Oracle updated Aconex Model Coordination Cloud Service with Building information modeling (BIM). This enhancement helps Oracle to enable full BIM model coordination for design and construction teams.

Related Reports:

Facility Management Market by Offering (Solutions (IWMS, BIM, Facility Operations and Security Management, Facility Property Management) and Services), Deployment Type, Organization Size, Vertical (BFSI, Retail), and Region - Global Forecast to 2025

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Report Code
TC 2470
RI Published ON
8/11/2020
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