Dublin, Sept. 17, 2024 (GLOBE NEWSWIRE) -- The "Hard Services Facility Management Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
The hard services facility management market size has grown strongly in recent years. It will grow from $609.12 billion in 2023 to $644.31 billion in 2024 at a compound annual growth rate (CAGR) of 5.8%. The hard services facility management market size is expected to see strong growth in the next few years. It will grow to $810.73 billion in 2028 at a compound annual growth rate (CAGR) of 5.9%.
The growth during the historic period can be attributed to the expansion of multinational corporations, a focus on workplace safety, aging infrastructure, increasing demand for customized and responsive services, and regulatory changes. 
The growth in the forecast period can be attributed to an increasing focus on green buildings, remote work trends, smart building technologies, heightened focus on cybersecurity, urbanization, and infrastructure development. Major trends during this period include a shift towards data-driven decision-making, increased reliance on outsourced facility management services, agile work environments, enhanced maintenance strategies, and the adoption of predictive maintenance.
The rapidly expanding hospitality sector is expected to drive the growth of the hard services facility management market. The hospitality sector includes businesses and services related to accommodation, food and beverage, entertainment, travel, and tourism. This industry's growth is fueled by increasing globalization, rising disposable incomes, and growing demand for travel and leisure experiences. In the hospitality sector, hard services facility management ensures the efficient operation and maintenance of essential infrastructure such as plumbing, HVAC systems, and electrical systems, enhancing guest comfort and safety.
Major companies in the hard services facility management market are developing innovative services, such as digital platforms, to enhance operational efficiency, improve predictive maintenance, and provide real-time monitoring and analytics. A digital platform is an integrated software solution for managing, monitoring, and maintaining a building's physical assets.
In March 2023, Apleona Group GmbH, a Germany-based real estate and facility services company, merged with Gegenbauer Group to strengthen its position in facility management. This transaction will bolster Apleona's role as an integrated facility management provider to industrial companies, financial institutions, and institutional real estate investors, particularly in the field of soft services. Gegenbauer Group is a Germany-based company specializing in hard service facility management.
Asia Pacific was the largest region in the hard services facility management market in 2023. The regions covered in the hard services facility management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the hard services facility management market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Hard Services Facility Management Market Competitive Landscape and Company Profiles
- Siemens AG
- Vinci SA
- Bouygues SA
- Veolia Environnement
- Compass Group
Hard Services Facility Management Market Other Major and Innovative Companies
- CBRE Group Inc.
- Johnson Controls International plc.
- Sodexo Group
- Jones Lang LaSalle Incorporated
- G4S plc
- Aramark
- Jacobs Solutions Inc.
- Skanska Group
- AECOM
- EMCOR Group Inc.
- Cushman & Wakefield
- Balfour Beatty plc
- ABM Industries Incorporated
- KBR Inc.
- Serco Group plc
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 175 |
| Forecast Period | 2024 - 2028 |
| Estimated Market Value (USD) in 2024 | $644.31 Billion |
| Forecasted Market Value (USD) by 2028 | $810.73 Billion |
| Compound Annual Growth Rate | 5.9% |
| Regions Covered | Global |
Key Topics Covered:
1. Executive Summary
2. Hard Services Facility Management Market Characteristics
3. Hard Services Facility Management Market Trends and Strategies
4. Hard Services Facility Management Market - Macro Economic Scenario
4.1. Impact of High Inflation on the Market
4.2. Ukraine-Russia War Impact on the Market
4.3. COVID-19 Impact on the Market
5. Global Hard Services Facility Management Market Size and Growth
5.1. Global Hard Services Facility Management Market Drivers and Restraints
5.1.1. Drivers of the Market
5.1.2. Restraints of the Market
5.2. Global Hard Services Facility Management Historic Market Size and Growth, 2018-2023, Value ($ Billion)
5.3. Global Hard Services Facility Management Forecast Market Size and Growth, 2023-2028, 2033F, Value ($ Billion)
6. Hard Services Facility Management Market Segmentation
6.1. Global Hard Services Facility Management Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- Mechanical
- Electrical
- Plumbing (MEP) Heating, Ventilation, and Air Conditioning (HVAC) Maintenance Services
- Enterprise Asset Management
6.2. Global Hard Services Facility Management Market, Segmentation by Service Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- Outsourced
- in-house
6.3. Global Hard Services Facility Management Market, Segmentation by Industry Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- Healthcare
- Government
- Education
- Military and Defense
- Real Estate
- Other Industry Verticals
7. Hard Services Facility Management Market Regional and Country Analysis
7.1. Global Hard Services Facility Management Market, Split by Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Hard Services Facility Management 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/4db22q
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
