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Market Research Reports Search Engine (MRRSE) has announced that its repository now features a report titled “Facilities Management Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024.” The report, by Transparency Market Research (TMR), states that the facilities management market stood at US$606.4 bn in 2015 and is poised to reach US$1,887 bn by 2024, expanding at a 13.60% CAGR from 2016 to 2024. The first section of the report presents an overview on the global facilities management market. The prime dynamics impacting the growth of the market, including the drivers, opportunities, and restraints, have been compiled under this section of the study. The swift development in the residential and educational sectors and their preference for soft services such as waste management, cleaning, catering, etc. will boost the growth of the facilities management market. In addition, the growing demand for outsourcing in enterprises will also positively impact the growth of the market.Next, the segmentation of the facilities management market has been presented in the report. On the basis of service type, the report segments the market into soft services and hard services. By industry, the global facilities management market is categorized into the government and public sector, corporate, manufacturing, healthcare, retail and commercial, residential and educational institutions, and others including sports, food, etc.Amongst these, the corporate sector constituted the largest share of 21.3% in the market in 2015, in terms of revenue. This segment is also the most swiftly growing segment of the market and is expected to exhibit a CAGR of 15.10% between 2016 and 2024. This is owing to the increasing requirement of support services such as BFSI and IT in the corporate sector.On the basis of geography, the report segments the global facilities management market into Europe, North America, Asia Pacific, the Middle East and Africa, and Latin America. Of these, Europe held the largest share in the market in 2015. The Europe facilities management market stood at US$219.5 bn in 2015 and is predicted to touch US$624.9 bn by 2024, rising at a 12.50% CAGR between 2016 and 2024.The rising demand for maintenance and support services from the manufacturing industries in Europe will propel the growth of the market in this region. On the other hand, the Asia Pacific facilities management market is predicted to experience the swiftest growth by 2024, with a CAGR of 15.50% expected for the segment from 2016 to 2024.As per the report, the prime players in the market are Arthur McKay & Co Ltd., Bilfinger HSG Facility Management GmbH, Bellrock Property & Facilities Management Ltd., Broadspectrum (Australia) Pty Ltd., Knight Facilities Management, ISS World Services A/S, Sodexo, Inc., Spotless Group Ltd., and Quess Corp Ltd., among others.Browse Full Global Facilities Management Market Report with TOC:http://www.mrrse.com/facilities-management-market
Growing,Demand,for,Outsourcing