Dublin, Dec. 04, 2023 (GLOBE NEWSWIRE) -- The "Facilities Support Services Global Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
The facilities support services market size has grown rapidly in recent years. It will grow from $182.74 billion in 2023 to $201.63 billion in 2024 at a compound annual growth rate (CAGR) of 10.3%. The facilities support services market size is expected to see rapid growth in the next few years. It will grow to $297.16 billion in 2028 at a compound annual growth rate (CAGR) of 10.2%.
The growth in the historic period can be attributed to a focus on core competencies, the outsourcing trend, cost efficiency measures, and technological advancements.
Western Europe was the largest region in the facilities support services market in 2023. Asia-Pacific was the second-largest region in the facilities support services market. The regions covered in the facility support services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The growth in the forecast period can be attributed to factors such as increased focus on health and safety compliance, aging infrastructure that requires maintenance, the drive for energy efficiency, and overall economic recovery. Major trends in the forecast period include a stronger emphasis on sustainability and green practices, the adoption of smart building technology, remote monitoring and management capabilities, digital transformation initiatives, and heightened concerns related to cybersecurity.
The growing number of multinational companies (MNCs) has played a significant role in driving the growth of the facilities support services market. Multinational corporations are large companies that operate in their home country while also producing or offering goods and services in multiple other countries. These companies often have a presence in various regions, which can create complex facility management challenges.
Facilities support services providers offer a comprehensive solution for MNCs to efficiently manage and maintain their facilities across different geographic locations. This streamlines operations and ensures consistent facility management standards. For example, in October 2022, the number of multinational corporations increased by 16,000 (1%) compared to the previous year, according to the Government Digital Service, a UK-based government body. Consequently, the growing presence of multinational companies is fueling the growth of the facilities support services market.
The facilities support services market is expected to experience growth due to the increasing demand from the construction sector. The construction sector, which encompasses businesses, organizations, and professionals involved in building planning, design, development, renovation, and maintenance, generates demand for services related to new construction, facility maintenance, renovations, and overall facility management.
Facilities support activities companies are adopting technology to enhance their candidate recruitment and management processes. These tech solutions come with features like passive activity monitoring, seamless integration with email platforms, and the capability to maintain extensive candidate databases.
As a result, recruitment procedures become more efficient, the quality of placements improves, and client relationships are strengthened. Additionally, recruitment analytics software provides valuable business insights to staffing agencies. For instance, in North America, approximately 64% of firms utilize technologies such as applicant tracking systems (ATS) for monitoring candidate activities, and around 60% of companies employ customer relationship management (CRM) systems to support their business development efforts.
Key players in the facilities support services market are actively introducing innovative solution platforms like Spacewell Maintenance to enhance their market performance. Spacewell Maintenance is a cutting-edge software platform designed to provide comprehensive solutions for building maintenance management and planning.
Major companies operating in the facilities support services market include
- Jones Lang LaSalle Inc.
- Sodexo
- CBRE Group
- ISS A/S
- Cushman & Wakefield Inc.
- Atalian Servest Group Limited
- Emcor Group
- Alstom SA
- ABM Industries Inc.
- Grupo ACS.
- ABM Industries Inc.
- Aramark Corporation
- Compass Group Plc
- Group 4 Securicor plc
- International Service System World
- Mitie Group plc
- United Group Limited
- Allied Universal
- Anixter International Inc.
- ATALIAN Global Services Inc.
- BGIS Global Integrated Solutions Canada LP
- Bilfinger SE
- Colliers International Group Inc.
- DTZ Investment Management Limited
- ENGIE SA
- Eurest Services, Inc.
- FacilitySource LLC
- GDI Integrated Facility Services Inc.
- Groupe CRIT SA
- Johnson Controls International plc
- KBR Inc.
- OCS Group Limited
- SNC-Lavalin Group Inc.
- Veolia Environnement SA
Key Topics Covered:
1. Executive Summary
2. Facilities Support Services Market Characteristics
3. Facilities Support Services Product/Service Analysis -Product/Service Examples
3.1. Facilities Support Services Supply Chain Analysis
3.1.1. Facilities Support Services Resources
3.1.2. Facilities Support Services Manufacturers
3.1.3. Facilities Support Services Distributors and Retailers
3.1.4. Facilities Support Services End Users
3.2. Facilities Support Services Customer Information
4. Facilities Support Services Market Trends And Strategies
5. Facilities Support Services Market - Macro Economic Scenario
5.1. Impact Of High Inflation On Online Therapy Services Market
5.2. Ukraine-Russia War Impact On Online Therapy Services Market
5.3. COVID-19 Impact On Online Therapy Services Market
6. Global Facilities Support Services Market Size and Growth
6.1. Global Facilities Support Services Market Drivers and Restraints
6.1.1. Drivers Of The Market
6.1.2. Restraints Of The Market
6.2. Global Facilities Support Services Historic Market Size and Growth, 2018 2023, Value ($ Billion)
6.3. Global Facilities Support Services Forecast Market Size and Growth, 2023 2028, 2033F, Value ($ Billion)
7. Facilities Support Services Market Segmentation
7.1. Global Facilities Support Services Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- Maintenance Services
- Security & Guard Services
- Reception Services
- Other Facilities Support Services
7.2. Global Facilities Support Services Market, Segmentation By Mode, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- Online
- Offline
7.3. Global Facilities Support Services Market, Segmentation By Deployment Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- On-Premise
- Cloud
8. Facilities Support Services Market Regional And Country Analysis
8.1. Global Facilities Support Services Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.2. Global Facilities Support Services Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
For more information about this report visit https://www.researchandmarkets.com/r/yvpf0w
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