Facilities management refers to the tools and services that help buildings, grounds, infrastructure, and real estate function properly, safely, and sustainably. There are two main categories: hard facilities management (hard FM) and soft facilities management (soft FM). Hard FM focusses on physical assets including piping, wiring, lifts, and heating and cooling. Soft FM emphasises on human-performed operations including groundskeeping, security, catering, custodial services, and lease accounting.

Drivers: The increased need for cloud-based facilities management is propelling the market forward. Cloud-based solutions give a reliable means of managing hosting facilities. It helps organisations reduce costs by improving security and collaboration among teams and subsidiaries located in many places. The cloud allows for safe essential data hosting, quick disaster recovery, and increased scalability and security. Backups are saved on a private or shared cloud hosting platform, allowing the organisation to easily retrieve crucial server data.

Challenges: There is a growing number of users for facility management solutions, but the lack of technical skills to operate them is holding back their use. Organizations do not see facility management as a real profession, resulting in fewer experts in this area. Additionally, many managers do not have the necessary tech skills needed for complex facility management systems in big companies. Although qualified professionals are working to address these issues, it will take years to train employees, which may hinder the growth of the facility management market.

Market Trends: The revolutionary shift brought about by prominent organisations' increasing use of AI in management techniques will help the sector grow. Artificial intelligence-enabled systems are transforming facility management by providing predictive analytics, automation, and real-time monitoring capabilities. This trend is being driven by a rising realisation of AI's potential to optimise operations, improve efficiency, and cut costs in facility management. Leading businesses are using AI-powered solutions to automate maintenance operations, increase energy management, and improve the tenant experience.

Aramark Corporation, CBRE Group, Compass Group PLC, Cushman and Wakefield, EMCOR Group, G4S Plc, ISS Facility Services, Jones Lang LaSalle Inc, SODEXO, and Veolia Environment are just a few of the major market players that are thoroughly examined in this market study along with revenue analysis, market segments, and competitive landscape data.

By Type: Based on the Type, Global Facility Management Market is segmented as; Outsourced, In-house.

By Service: Based on the Service, Global Facility Management Market is segmented as; Hard service, Soft service, Management service.

By Application: Based on the Application, Global Facility Management Market is segmented as; Government & public sector, Industrial, Commercial, Education, Transportation, Healthcare, Others.

By Region: This research also includes data for North America, Latin America, Asia-Pacific, Europe, Middle East & Africa.

This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.