Dublin, Feb. 16, 2024 (GLOBE NEWSWIRE) -- The "Europe Facility Management Market, Competition, Forecast & Opportunities, 2028" report has been added to ResearchAndMarkets.com's offering.
The Europe facility management market is anticipated to grow at a steady pace in the forecast period, 2024-2028. The growing uptake of cloud-based solutions and changing organizational culture and working methods are accelerating the Europe facility management market. Due to this, the market is expected to register a high CAGR during the forecast period. 
The expansion in the Europe construction sector at a high CAGR is likely to support the Europe Facility management market over the next few years. In addition, the gross value added of the construction sector in the EU: 5.5% of the GDP. The goal of the European Commission is to help the sector become more competitive, resource-efficient, and sustainable.
Facilities management can be defined as the tools and services that support the functionality, safety, and sustainability of buildings, grounds, infrastructure, and real estate. There are two main areas, including hard facility management and soft facility management. Hard FM deals with physical assets, such as plumbing, wiring, elevators, and heating and cooling. Soft FM focuses on human tasks, such as warehouse services, rental accounting, catering, security, and yard maintenance.
Facility management consists of several factors that affect the productivity and efficiency of organizations. The new management system standard, which adheres to industry best practices, serves as a model for developing and managing effective strategic, tactical, and operational FM principles worldwide. Services in the FM market in Europe have been commoditized to a huge extent. Also, end-use industries are very price-sensitive, and contracts are thus aimed at shorter terms. Commercial real estate over-supply has been creating pressure on rent yields, thus, leading customers to cut costs on FM services.
The increasing investment in health infrastructure & involvement of FM service providers in the construction cycle are the factors propelling the market growth.
Late involvement of FM service providers in the construction cycle, or post-construction maintenance, was, however, found to have decreased. Asset management FM players are involved in the early stages of infrastructure development and provide FM consultation for preventive maintenance, longer asset life, and longer-term contracts. Enova seeks digital omnipresence and customer service visibility for growth and modernization to support smart FM in Europe.
The growing investment in health infrastructure and the construction of health facilities is increasing the demand for FM services. In recent times, infrastructure has become an important part of providing health services to the public. As a result, more investments have been made in the development of health infrastructure around the world. Healthcare organizations invest significantly in facilities to provide improved healthcare services. However, due to the increase in data breaches and security threats, it is difficult to demand sufficient expertise.
According to a Honeywell survey, 27% of property managers surveyed experienced a cyberattack on their OT systems in the past year, and 66% of respondents said that maintaining operational technology (OT) cybersecurity is one of their most challenging tasks.
Report Scope:
In this report, the Europe facility management market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
Europe Facility Management Market, By Service:
- Property
- Cleaning
- Security
- Support
- Catering
- Others
Europe Facility Management Market, By Type:
- Hard Services
- Soft Services
Europe Facility Management Market, By Industry:
- Organized
- Unorganized
Europe Facility Management Market, By End User:
- Commercial
- Residential
- Industrial
- Public Sector
Europe Facility Management Market, By Sectors:
- Education
- Healthcare
- Real Estate
- Banking
- Hospitality
- Housing
- Others
Europe Facility Management Market, by Country:
- Germany
- United Kingdom
- France
- Italy
- Spain
- Rest of Europe
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in the Europe facility management market.
A selection of companies mentioned in this report includes
- Sodexo
- CBRE Groups, Inc.
- Compass Groups, Inc.
- ISS A/S
- Johnson Controls International plc
- Dussmann Group
- Andron Facilities Management
- G4S Plc
- Veolia Environment
- Serco Group PLC
- Engie FM Limited Cofely AG
For more information about this report visit https://www.researchandmarkets.com/r/wtjmzz
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