ALBANY, New York, October 5, 2016 /PRNewswire/ --
Transparency Market Research (TMR) has announced the release of
a new report on the North America
facilities management market. The report examines the historical
trajectory of the global market and presents detailed forecasts
regarding the market's development from 2016 to 2024. The report
examines the competitive dynamics, segmentation, and major drivers
and restraints of the global refrigerated counters market in order
to provide a complete overview. The report is titled
'Facilities Management Market (Service Type - Hard
Services and Soft Services- North America Industry Analysis, Size,
Share, Growth, Trends and Forecast 2016 -
2024" and is available for sale on the
official website of TMR. According to the report, The North America facilities management market was
valued to be US$198.26 bn in 2015 and
is anticipated to reach US$610.21 bn
by the end of forecast period, expanding at a CAGR of 13.5%
therein.
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U.S. Holds Leading Share in North America Facilities
Management Market
Based on type of service, the demand for soft services is
highest in the North America
facilities management market and the hard service segment is
projected to exhibit a comparatively lower growth rate over the
forecast period. On the basis of industry, the corporate sector is
estimated to hold a leading share of 21.1% in 2016 in the
North America facilities
management market. The retail and commercial sector is expected to
grow at a high CAGR of 14.1% from 2016 to 2024. The U.S. held the
leading share in the North America
market, accounting for 57.4% in 2016. Canada holds close to one-third of the market
and is anticipated to witness increased growth during the forecast
period, registering a 14.1% CAGR.
TMR Predicts Rise in Third-party Contracts for Facilities
Management Outsourcing
Outsourcing support services helps organizations focus on their
business strategies and core functions, thereby gaining an
advantage over competitors. It also helps organizations reexamine
and improve their business plans and save time as well as money.
The trend of outsourcing support services has gained much
popularity across industries in recent years and this is one of the
key factors expected to boost the adoption of facilities management
in North America.
Browse Regional PR
at http://www.europlat.org/north-america-facilities-management-market.htm
"The adoption of outsourced services is expected to have a
medium impact in the short and medium term of the forecast period
and is linked to the penetration of outsourced facilities
management services in Asia
Pacific, North America, and
Europe," the author of the report
notes. "However, this factor is anticipated to have a high impact
in the long term due to the increasing adoption of facilities
management services and the rise in third-party contracts for
facilities management outsourcing."
On the down side, increasing labor costs, the nonexistence of
standards to measure performance as well as quality of services,
and the high cost of in-house service implementation threaten to
hamper the growth of the North
America facilities management market.
This review is based on the findings of a TMR report titled
"Facilities Management Market (Service Type - Hard Services
(Plumbing, Air Conditioning Maintenance, Fire Protection Systems,
and Mechanical and Electrical Maintenance) and Soft Services
(Cleaning and Pest Control, Laundry, Catering, Waste Management,
and Security); Industry - Corporate, Government and Public,
Healthcare, Manufacturing, Residential and Educational, and Retail
and Commercial) - North America Industry Analysis, Size, Share,
Growth, Trends and Forecast 2016 - 2024."
Key Players:
The North America facilities management market is
extremely fragmented and the top 10 players accounted for less than
10% of the market in 2015. Some of the prominent facilities
management providers actively involved in the market are Bilfinger
HSG Facility Management GmbH, Cofely, Compass Group PLC, Cresa,
LLC, Ecolab USA Inc., GDI
Integrated Facility Services, G4S plc, ISS World Services A/S,
Mitie Group PLC and Sodexo, Inc.
Facilities Management Market, By Service Type
- Plumbing and Air Conditioning Maintenance
- Fire Protection Systems
- Mechanical and Electrical Maintenance
- Others (Fabric Maintenance, etc.)
- Laundry
- Catering
- Waste Management
- Security
- Others (Administrative Services, etc.)
Facilities Management Market, By Industry
- Corporate
- Government and Public Sector
- Health Care
- Manufacturing
- Residential and Education Institutions
- Retail and Commercial
- Others (Food, Sport, etc.)
Facilities Management Market, By Country
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