Integrated Facility Management Ifm Market - Global Industry Analysis, Size, Share, Growth Opportunities, Future Trends, Covid-19 Impact, SWOT Analysis, Competition and Forecasts 2022 to 2030
The Global Integrated Facility Management (IFM) Market was valued at $94.18 billion in 2022 at a CAGR of 7.20% from 2022 to 2030.
Integrated Facility Management (IFM) Market Overview:
Integrated facilities management is the consolidation of facilities management efforts under a single integrated team. This includes contracts, supplier partnerships, space management and estate planning. IFM is not a radical idea, but it can feel like a radical one. Think about the shift to today's facilities management mindset. Data is no longer siled, but organized and aggregated across the entire spectrum. The same goes for facility management. Separating management tasks, duties and resources is not the answer. IFM integrates them.
A cloud-based solution provides a reliable means of hosting facility management software. It also enhances security and collaboration between teams and subsidiaries in multiple locations, helping organizations reduce operating costs. Other benefits of a cloud-based facility management solution include secure hosting of critical data, enhanced security and scalability, and fast disaster recovery. Backups are stored on shared or private cloud-hosted platforms to allow organizations to easily recover critical server data. Secure login makes it easy to access your data from anywhere with a stable internet connection.
The benefits of facility management are not fully recognized by businesses. The problem stems from a lack of understanding and adoption of prerequisite technologies. Many enterprises are still adopting cloud computing systems and have not yet embraced the IoT ecosystem. Also, the transition from a traditional office layout to a modern setup is still in its infancy. Although facilities management is an important part of operations, companies are unaware of evolving solutions. This makes it a complex task for organizations to give equal importance to facilities management departments without interfering with core business processes. Another problem, especially in multi-building facilities, is the lack of standardization.
Facility management outsourcing continues to grow in popularity. Organizations are evaluating operating models to maximize value creation. However, before outsourcing facilities management to a third party, we consider the appropriate combination of insourcing and outsourcing based on cost, functionality and coverage. Outsourcing has now contributed significantly to the growth of the facility management market in various regions such as Europe, the Middle East and North America. This trend is primarily driven by growing demand for high-quality workplace experiences and lower operating costs.
Integrated Facility Management (IFM) market size, estimates and forecasts are provided in terms of sales volume (K Units) and revenue (million USD), with historical and forecast data for the period 2017 to 2030, with 2022 being considered as the base year. This report segments the global Integrated Facility Management (IFM) market in detail. Regional market sizes related to products by type, by application, and by player are also delivered. In estimating the size of the market, we took into account the impact of COVID-19 and the Russian-Ukraine war.
Key Market Updates:
- May 2020 Accruent, a leading provider of built environment management solutions, today announced enhancements to its cloud-based manufacturing solution designed to improve access to critical asset information for technicians and engineers working in manufacturing plants and other asset-intensive facilities.
- In September 2022, Aldar Properties PJSC ("Aldar") announced that it would fully acquire Spark Security Services, the UAE's leading provider of manned security services, expanding its platform for real estate and integrated facility management.
- In October 2022, German company Apleona entered into an agreement to acquire Dublin-based Acacia Facilities Holdings and its subsidiary Acacia Facilities Management.
Major Market Segments Covered in Integrated Facility Management (IFM) Industry Research:
Market Key Players:
IBM, Oracle, SAP, Trimble, Accruent, MRI Software, Planon, Service Channel, Service Works Global, FMX, Causeway Technologies, Spacewell, iOFFICE, FSI, ARCHIBUS, Archidata, JadeTrack, UpKeep Maintenance Management, Apleona, FacilityONE Technologies, And Others.
- Hard Service
- Soft Service
By Organization Size:
- Small and Medium-sized Enterprises
- Large Enterprises
The US will emerge as the largest market for IFMs in North America due to the strong presence of service providers such as IBM, Oracle Corporation, CBRE, Sodexo and Compass Group. This is due to the growing demand for flexible, advanced and integrated facilities management solutions in various industries.
Moreover, the US is a market of high maturity and currently has two generations of contracts signed. Growing demand for cloud-based integrated facility management platforms in this region is one of the major factors driving the market growth.
Moreover, rising penetration of smart technologies and artificial intelligence is expected to provide the market for integrated facility management solutions with significant growth potential.
The UK market is expected to reach around $72.5 billion by 2031. The UK media landscape has changed rapidly in recent years. Technological advances are providing significant growth potential for the implementation of IFM solutions.
Emerging technologies such as sensor technology will open up new robotic applications and increase the total number of facility maintenance, which will drive the market growth.
Additionally, with the growing popularity of driverless cars, automobiles and transportation are also becoming areas of interest for IFM service providers.
China's IFM market is expected to expand at a CAGR of 4.8%, with a market value of approximately $45.6 billion in 2021.
China's booming construction and real estate markets are creating potential growth opportunities for integrated facility management providers. Cost optimization is also one of the key drivers for the growth of integrated facilities management solutions and services.
In addition, increasing government protocols and incentives for buildings and other facilities and increasing focus on sustainability are increasing the importance of procuring professional services from experts in the required fields, driving the market growth.
The Indian market is expected to grow from about $25.9 billion in 2020 to $45 billion in 2031. New Zealand creating major potential growth opportunities for market participants.
Developed countries such as Australia, Singapore and Malaysia are major markets for advanced integrated facility management services as consumers and governments emphasize energy efficient construction.
In India, IFM adoption is steadily increasing across the IT, telecom and healthcare industries. India is also a potential market for adoption of large-scale bundled contracting arrangements as well as outsourcing of integrated facilities management services.
Demand for integrated facilities management is expected to grow significantly as organizations in the market seek cost-effective operations management.
- North America
- Rest of North America
- Nordic Countries
- Benelux Union
- The Netherlands
- Rest of Europe
- South Korea
- Southeast Asia
- Rest of Southeast Asia
- Rest of Asia-Pacific
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Rest of Latin America
Integrated Facility Management (IFM) Market report scope:
CAGR of 7.20% from 2022 to 2030.
|Hard Service, Soft Service, Other|
|Commercial, Industrial, and Other|
IBM, Oracle, SAP, Trimble, Accruent, MRI Software, Planon, Service Channel, Service Works Global, FMX, Causeway Technologies, FM: Systems, Spacewell, iOFFICE, FSI, ARCHIBUS, Archidata, JadeTrack, UpKeep Maintenance Management, Apleona, FacilityONE Technologies
Regions and Countries Covered
2017 to 2022
2023 to 2030
Crucial Points from this Integrated Facility Management (IFM) Report
- Estimate Integrated Facility Management (IFM) market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level - for product types, applications and by different industry verticals.
- Understand the supply chain in depth on the value growth at each step, in order to optimize value and bring effectiveness in your processes.
- Know the different dynamics affecting the market - challenges, key driving factors and opportunities.
- Get a quick viewpoint on the Integrated Facility Management (IFM) market entropy - M&A's, deals, partnerships, product launches of all key companies for the historical 5 years.
- Estimate the supply-demand gaps, import-export data and regulatory landscape for more than top 20 countries worldwide for the market.
- Get complete insights on your competitor performance - market shares, strategies, financial benchmarking, product benchmarking, SWOT and more.
- Study the sales and distribution channels over key geographies to improve top-line revenues.
Frequently Asked Questions-
- What is the CAGR of Integrated Facility Management (IFM) market?
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- Who are the key players in Integrated Facility Management (IFM) market?