Government projects and upcoming sporting events are expected to drive the United States facility management market growth during the forecast period.
According to TechSci Research report, “United States Facility Management Market – By Region, Competition Forecast & Opportunities, 2018-2028,” the United States Facility Management Market is expected to register robust growth during the forecast period, 2023-2028. Facility Management (FM) is a multidisciplinary profession dedicated to ensuring the functionality, safety, comfort, and efficiency of the built environment through the integration of people, processes, places, and technology. FMs contribute through their responsibility to maintain the organization’s most important and valuable assets, including assets, equipment, buildings, and other environments that house personnel, productivity, inventory, and other operational elements contribute to revenue.
Facilities management solutions are used to reduce operating costs and improve efficiency across an organization. Increasing adoption of facilities management in the corporate, residential, and educational sectors is projected to drive the facilities management market over the forecast period. Additionally, growing demand for disinfection, cleaning, spot sterilization, and workplace-specific disinfection standards is driving the global facility management market. The growing popularity of Software-as-a-Service (SaaS) and cloud-based facility management solutions is also fueling the demand for facility management services. The construction industry is growing rapidly owing to industrialization and population growth around the world. Governments of various countries have invested heavily in infrastructure development such as stations, airports, commercial buildings, and ports. This is a key growth driver for the facility management market. Facility management software is widely used to reduce the running costs of maintaining and managing various facilities and bring convenience and safety to people.
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The United States Facility Management Market is segmented into service, type, industry, end user, and sectors. Based on service, the market is divided into property, cleaning, security, support, catering, and others. Based on end user, the market is further segmented into commercial, residential, industrial, public sector. During the projected period, the commercial segment is expected to dominate the market. Commercial construction serves business purposes through new buildings such as offices and new industrial facilities. Service providers provide all the basic building infrastructure such as window cleaning, elevator maintenance, building repairs, door and ceiling painting and maintenance. Flexible workplaces with sustainable IT infrastructure have exploded over the years in the Northeastern United States. The region has some of the cleanest programs, mechanisms, and policies that promote the adoption of green technology. Professional cleaning services in the United States are experiencing growth due to the growing popularity of “green cleaning technology.” The use of sustainable detergents, including special chemicals, equipment and technology, are contributing significantly to the growth of the market.
Based on sectors, the market is segmented into education, healthcare, real estate, banking, hospitality, housing, and others. During the projected period, the healthcare segment is expected to dominate the market.. The healthcare system has developed into one of the major sectors due to the increasing number of patients and rising healthcare costs in the public and private sectors of the healthcare system. According to data released by the Centers for Medicare and Medicaid Services (CMS), US national health care spending is expected to reach nearly USD6.0 trillion by 2027. Healthcare spending is growing tremendously, with various facilities being developed in hospitals and clinics for the benefit of patients. In the United States, the healthcare industry (hospitals, nursing homes, etc.) is increasingly outsourcing facility management services to specialize third-party facility management providers. The number of Americans aged 65 and over is projected to nearly double from 52 million in 2018 to 95 million by 2060, rising from 16% to 23% of the total population. A higher percentage of older people in the population require more healthcare services than the young ones. Such issues can be handled efficiently using facility management services, which are expected to grow during the forecast period.
Key market players in the United States Facility Management Market: –
- CBRE Group, Inc.
- Cushman & Wakefield plc
- Sodexo, Inc.
- Jones Lang LaSalle Incorporated
- Emeric Facility Services
- ISS Facility Services, Inc.
- Guardian Service Industries, Inc.
- SMI Facility Services
- Shine Management & Facility Services
- AHI Facility Services, Inc
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“The United States shows potential with its infrastructure with several government initiatives & projects. As the US is set to host the two most important global sporting events during the forecast period, one being 2028 summer Olympics and other one being FIFA 2026 world cup, the FM market is set to have a ton of projects. Healthcare has always been a key issue in the country and any additional initiative will only boom the industry,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“United States Facility Management Market By Service (Property, Cleaning, Security, Support, Catering & Others), By Type (Hard Services and Soft Services), By Industry (Organized, Unorganized), By End User (Commercial, Residential, Industrial, Public Sector), By Sectors (Education, Healthcare, Real Estate, Banking, Hospitality, Housing, Others) By Region, Competition Forecast & Opportunities, 2018-2028,” has evaluated the future growth potential of United States Facility Management Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities United States Facility Management Market.
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