Unified Facility Management Market: Competitive Dynamics & Global Outlook 2023
Unified facility management Market- Synopsis:
The valuation of the global Unified Facility Management market is poised to reach USD 70 Bn by the end of 2023.
The unified facility management market resonates strong opportunities for growth and is likely to remain highly lucrative in the upcoming years. The key players are expected to capitalize on the opportunities by implementing growth strategies such as mergers & acquisitions, product portfolio expansion, product innovation, etc.
The global unified facility management market is bifurcated on the basis of components, deployment type, applications and region. The components are segmented into software, service, solution and others. The deployment type is segmented into on cloud, on premises and others. The applications are segmented BFSI, IT and telecom, healthcare, education, retail and others. The region includes North America, Europe, Asia Pacific and rest of the world.
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Unified facility management Market - Competitive Dashboard:
Some of the key players profiled in the report are Trimble Navigation, Ltd. (U.S.), Oracle Corporation (U.S.), Archibus, Inc. (U.S.), Accruent LLC. (U.S.), SAP SE (Germany), CA Technologies (U.S.), International Business Machines Corporation (U.S.), iOffice Corporation (U.S.) Planon Corporation (Netherlands), and FM Systems, Inc. (U.S.).
Unified facility management Market- Industry News:
In September 2018, Aldar Properties, Abu Dhabi, took over Khidmah, a Facility Management (FM) company for serving better services to its direct and indirect customers.
In October 2018, International Business Machine (IBM), an American multinational information technology company, has acquired Red Hat Inc., an American multinational software company providing open-source software products. The deal is worth USD 33 Bn.
In November 2018, ISS Group, a leading global facility management services provider, has assigned Coupa Software, the leader in Business Spend Management (BSM), for transforming procure-to-pay (P2P) process with a user-friendly solution for enhanced efficiency and increased saving.
By components, the unified facility management market has been segmented into software, service, and solution.
By deployment type, the global unified facility management market has been segmented into on cloud and on premises.
By applications, the global unified facility management market has been segmented into BFSI, IT & telecom, healthcare, education, and retail.
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The global unified facility management market, by region, has been segmented into Asia Pacific, North America, Europe and the Rest of the World. North America is poised to retain a dominant share of the global market through the forecast period. The extensive demand for unified facility management solutions across different industries such as health care and real estate among others is projected to drive the growth of the regional market in the foreseeable future.
Europe is an important growth pocket and is expected to witness rapid growth over the next couple of years. Meanwhile, Asia Pacific is estimated to strike the highest CAGR during the review period owing to the growth of the emerging country-level markets such as India, China, Japan, etc. The companies from different industries are deploying the technology for meeting customer needs. This has catapulted the unified facility management market in the region on an upward trajectory.
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