The report "Facility Management Market by Solutions (CAFM, IWMS, CMMS, BIM, IWMS) & Services - Worldwide Market Forecasts and Analysis (2014-2019)", defines and segments the Facility Management market into various segments and provides an in-depth analysis and forecasting of revenues. This research report helps to identify the factors driving this market, various restraints, challenges and opportunities impacting it along with the future roadmaps.
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Worldwide Market Forecasts and Analysis (2014-2019)".
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The solution offered by the facility management market are set of IT tools such as databases, visual display tools, and geographic data/information providing tools. For any organization, support functions are as important as its core business operation. Earlier, organizations did not concentrate on these support functions such as administration, technical issues, infrastructure, property, and the people. At that time, it was believed that focusing on core business purposes would be the key to success. As time passed, organizations felt that tracking and managing this support functions and activities would significantly impact the organizational efficiency in terms of profit and resource optimization. To address this issue, several ad-hoc solutions were implemented by organizations. These ad-hoc solutions were the first generation of facility management solutions.
In the absence of proper information management solutions, the scope for early generations of facility management solutions was confined at departmental or functional levels. The prime reason behind this confinement was the inability to reach data outside a function or department. At that time, these solutions were used to track and monitor the information within a department only. Later with the technological advancements in the information management solutions, sharing of information across departments or functional levels became possible. It brought significant change in the solutions as well. Now the facility management solutions received more traction as it can track and monitor information across different levels.
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The present generations of facility management solutions offer a wide range of features like space management, project management, asset management, real estate portfolio management, maintenance management, and environment and sustainability management. Most of the solutions are available in standalone offerings but demand for customized solutions is high as they address organization specific requirements.
This report focuses on the drivers, restrain, opportunities, and the competitive landscape for the facility management market. There are several players in this market and most of the IT solution vendors are present there with a wide range of offerings in portfolio. IBM, Manhattan software, Archibus, GE, SAP, and ESRI are some of the key industry players. Vendors in this market offer solutions and services such as integration, maintenance, consultancy, and deployment, keeping the clients' requirements in mind.
As per the study from MarketsandMarkets on this market, advancements in the database technologies and higher ROI among others will drive the growth of this market. Earlier, traction was observed in manufacturing industries but now service industries are also having high adoption rate. Public sector would be one of the major sectors where the deployment of these solutions is very high. This report focuses on the global market across different verticals, and geographic regions. Key segments included in the report are divided on the basis of the solutions, services, verticals, and regions. This report also emphasizes on upcoming trends, drivers, restraints, and opportunities in the market.
MarketsandMarkets expects that the facility management market will gain high traction across the globe. MarketsandMarkets forecasts it to grow from $24.65 billion in 2014 to $43.69 billion by 2019, at a CAGR of 12.1% during the forecast period.
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