Facility Management Market Size and By Region – Global Opportunities & Forecast, 2020-2027
Global Facility Management Market
As per the GMI Research report, a substantial growth will be witnessed in the Facility Management Market over the forecast period. This is because of the intensified investment by government across several end use industries such as energy, construction, and transport.
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Facility Management Market Dynamics
The growth in the global facility management market is primarily guided by the globalisation and communization of contact acquisition for nations with several distinct sites. The intensified initiatives by the government to loosen their travel industry by the enforcement of various significant variations will strengthen the market size. For instance, the Saudi Arabian government started to issue tourist visas from 2019, which notable contributed to the market growth. The conception rate has increased by 34% for domestic and 9% for global which is supplementing the global Facility Management Market share. The augmenting demand for productiveness, presentation, and detention in the internationalization industry is propelling the market growth. In accordance with the iSS, nearly 80% of the intercontinental facility management contract has raised since last two years, demonstrating the industry’s growth.
Furthermore, the advancement in the infrastructure industry has stimulated the market growth across various regions. The managerial and government bodies across several nations are increasingly investing in elevating the infrastructure of airports and railways which will stimulate the market growth. For instance, for the forthcoming 11 years, Saudi Arabia accumulated US$ 36 billion attributed for the transportation industry. However, the inadequate accessibility of labor and resources to manage services and the limited usage of technology will restrain the Facility Management Market size.
Regional Drivers
As per the regional analysis, the Asia Pacific region is projected to seize the highest share in the global facility management market over the coming years. The robust existence of leading players in emerging countries like China and India will strengthen the market growth. In accordance with the “International Facility Management Association” China is one of the growing economies and has huge ability for investing in services.
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