1. Business

Facility Management Industry Gaining Traction by Industrial Revolution 4.0

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Introduction

Facility management refers to the techniques and management methods for building management, infrastructure management for any organization, and the overall synchronization of the work environment in any organization.

The market has experienced significant growth over the last two decades courtesy of Industrial Revolution 4.0. The demand for facility Management services and solutions have drastically risen in the past few years and is anticipated to grow further in the forthcoming years. Also, growing investment in several industries such as construction, energy, transport, and others are significantly contributing to the growth of this industry.

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COVID-19 Impact

The COVID-19 pandemic induced several lockdowns that disrupted supply chains across several industries. Although, in such a situation facility Management Solutions have played a crucial role in ensuring a safe working environment. They have ensured sanitization periodically, spot sterilization, evaluated janitorial schedules, and upheld COVID-19 safety protocols. The industry is faced with the difficult task of re-educating employees and tourists on how to interact with a workplace that includes everyone and everything.

Key Developments

Several governments are in the process of signing contracts with multinational companies to complete and connect their infrastructure both within and beyond borders. For example, Saudi Arabia's government has raised USD 36 billion for transportation infrastructure over the next 11 years. Railways, airports, ports, and roadways are the primary targets of this project.

One of the key drivers of the market's growth can be attributed to increased investment on infrastructure.  Furthermore, the increasing emphasis on process optimization and energy efficiency improvements are the primary driving drivers behind the growth of the facility management industry.

Cloud-based solutions also provide a secure platform for hosting facilities management applications. They assist firms in reducing operating costs by enhancing security and communication across teams and subsidiaries spread across numerous locations. Secure hosting of sensitive data, better security and scalability, and quick disaster recovery are all advantages of cloud-based facilities management solutions.

Competitive Landscape

To strengthen their offerings in the facility management market, market players have used a variety of organic and inorganic growth tactics, such as new product launches, product upgrades, partnerships and agreements, business expansions, and mergers and acquisitions. Due to the existence of a few players concentrated in a few countries, the facility management market is approaching a consolidated stage.

Several prominent players of the market include:

  • Oracle Corporation (US)
  • SAP SE (Germany)
  • Spacewell International (Belgium)
  • Trimble Inc. (US)
  • Fortive (US)
  • MRI Software LLC (US)
  • Planon (US)
  • Infor (US)
  • Service Works Global (UK)
  • Causeway Technologies (UK)
  • FM:Systems (US)

About Us

Kings Research is a data proficient market research firm that specializes in fostering efficient insights that propels businesses. We specialize in providing business intelligence on product specific markets to gain insights on quantifiable data. And our aim is to be the development catalyst to our clients that deliver actionable insights.

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