US Facility Management Market Share, Trends, Demand, Growth Drivers, Challenges, CAGR Status and Future Investment Opportunities Till 2033


US Facility Management Market Share, Trends, Demand, Growth Drivers, Challenges, CAGR Status and Future Investment Opportunities Till 2033: SPER Market Research

 Published: Jun-2024
 Author: SPER Analyst

United States Facility Management Market is projected to be worth USD 484.71 billion by 2033 and is anticipated to surge at a CAGR of 6.93%.

Facility Management (FM) is a set of services provided to an organization to manage the various operations of its buildings and facilities. These services include the administration of physical aspects such as HVAC (Heating, Ventilation, and Air Conditioning), plumbing and wastewater, catering, lighting and electrical, and soft services such as housekeeping, security, and cleaning. With growing awareness of the benefits of outsourcing FM services, many firms, particularly in the United States, are rapidly adopting them to improve overall efficiency and income.

United States Facility Management Market Driving Factors and Challenges

Driving Factors- The healthcare industry is one of the fastest expanding sectors in the United States, with an aging population and rising healthcare requirements driving up demand for healthcare facilities. Furthermore, these facilities are extremely complicated and require specific knowledge and expertise to operate properly. Furthermore, facilities must meet stringent safety, cleanliness, and infection control requirements. The healthcare industry is embracing new technologies to improve patient care and cut costs. Furthermore, many health institutions delegate facility management responsibilities to third-party suppliers. As a result, the healthcare sector contributes to market growth in the United States for the reasons stated above.

Challenges- Organizations face serious difficulties when it comes to facility management because of a lack of managerial understanding and standards. Infrastructure and material assets are coordinated and maintained as part of facility management. Decision-makers who lack proper information may allocate resources in an inefficient manner, which could result in inadequate maintenance and increased operating costs. Non-standardized procedures are the root cause of inconsistent service quality amongst locations, which affects both the customer and employee experiences. Furthermore, the oversight can raise compliance and safety hazards, which might put the company in legal troubles.

Impact of COVID-19 on United States Facility Management Market
The COVID-19 pandemic has caused economic disruptions due to a series of lockdowns. Although the virus has affected the sector as well, facilities managers have responded by exploring new possibilities for remote work or socially distancing offices since the outbreak. On the other hand, future market expansion is anticipated to be driven by heightened awareness of security, maintenance, administration, and cleanliness. In addition, governments in the most affected nations—Spain, Italy, the US, China, and the UK—are spending money on these services in an effort to eradicate COVID-19 from the containment zones. In addition, providers are concentrating on providing businesses and government agencies with all-inclusive facilities management services so they may operate efficiently in cramped spaces.

United States Facility Management Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as CBRE Group, Inc, Jones Lang LaSalle Incorporated, Cushman & Wakefield plc, Emeric Facility Services, SMI Facility Services, Sodexo, Inc, AHI Facility Services, Inc, ISS Facility Services, Inc, Shine Management & Facility Services, and Guardian Service Industries, Inc.

United States Facility Management Market Segmentation:

By Type of Facility Management Type: Based on the Type of Facility Management Type, United States Facility Management Market is segmented as; Inhouse Facility Management, Outsourced Facility Mangement.

By Offering: Based on the Offering, United States Facility Management Market is segmented as; Hard FM, Soft FM.

By End User: Based on the End User, United States Facility Management Market is segmented as; Commercial, Institutional, Public/Infrastructure, Industrial, Others.

By Region: This research includes data for Northeast Region, Midwest Region, Western Region, Southern Region.

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.

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