Hard Services Facility Management Market: Growth, Trends by 2024

The global hard services facility management market size was valued at USD 584.6 billion in 2018 and is projected to grow worth USD 1,133.99 billion by 2032, exhibiting a CAGR of 4.5% during the forecast period. Asia Pacific dominated the hard services facility management market with a market share of 35.86 % in 2018.

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Hard Services Facility Management Market Share, Size & Industry Analysis, By Service Type (Outsourced and In-house), By Industry Vertical (Healthcare, Government, Education, Military & Defense, Real Estate and Others) and Regional Forecast Between, 2019-2032

Top Companies of hard services facility management market:

• Sodexo
• CBRE Group, Inc.
• ISS A/S
• Compass Group
• Aramark
• Jones Lang LaSalle Incorporated
• Cushman & Wakefield plc.
• Tenon Group
• Johnson Controls International plc.
• AMEC Facilities

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Hard Services Facility Management Market Drivers and restrains:

• Drivers:
  • Increasing Demand for Facility Maintenance: The need for regular maintenance and repair of physical assets in buildings drives the demand for hard services in facility management.
  • Technological Advancements: Innovations in building systems, such as HVAC, plumbing, and electrical systems, necessitate advanced maintenance and management services.
  • Regulatory Compliance: Stricter regulations and standards for building safety, energy efficiency, and environmental sustainability increase the need for comprehensive hard services management.
  • Focus on Operational Efficiency: Companies aim to enhance the operational efficiency and lifespan of their facilities, leading to higher demand for effective hard services.
  • Growing Commercial Real Estate Sector: Expansion in commercial real estate, including offices, retail spaces, and industrial facilities, boosts the need for professional hard services management.
• Restraints:
  • High Operational Costs: The cost of providing and maintaining hard services, including labor and materials, can be significant and impact overall facility budgets.
  • Complexity of Maintenance: Managing complex building systems and infrastructure requires specialized knowledge and expertise, which can be challenging to maintain consistently.
  • Economic Fluctuations: Economic downturns and budget constraints can lead to reduced spending on facility management services, affecting market demand.
  • Regulatory Compliance Challenges: Navigating evolving regulations and standards can be complex and may require additional resources and adaptation in service delivery.
  • Dependence on Skilled Labor: The need for skilled technicians and maintenance personnel can lead to workforce shortages and impact service quality and availability.

Reasons to buy this report:

This report provides a detailed analysis of the current market status, trends, growth segments, and competitive dynamics in the hard services facility management market. It enables businesses to identify opportunities for growth and development while also highlighting potential challenges and risks. By evaluating business segments and product portfolios, the report enables stakeholders to make more informed market strategies and investments.

A thorough understanding of the industry dynamics outlined in the report can significantly improve decision-making and facilitate the development of effective success strategies in the hard services facility management market. Overall, this report is an excellent resource for those seeking in-depth information about this rapidly changing industry.

Regional Atributes:

• North America (U.S. and Canada)
• Europe (U.K., Germany, France, Italy, and Rest of Europe)
• Asia Pacific (Japan, China, India, and Rest of Asia Pacific)
• Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)
• Latin America (Brazil, Mexico, and Rest of Latin America)

Table of Contents:

• Introduction
  • Research Scope
  • Market Segmentation
  • Research Methodology
  • Definitions and Assumptions
• Executive Summary
• Market Dynamics
  • Market Drivers
  • Market Restraints
  • Market Opportunities
• Key Insights
  • Key Industry Developments – Merger, Acquisitions, and Partnerships
  • Porter’s Five Forces Analysis
  • SWOT Analysis
  • Technological Developments
  • Value Chain Analysis

TOC Continued…!

Industry developments of hard services facility management market:

• The Danish Building and Property Agency partnered with ISS A/S for its facilities management services. The agreement is valued about DKK 2 billion (Danish Krone) that aims to enhance the need of outsourced facility services
• Aramark announced the acquisition of Good Uncle, a food delivery service application that delivers fresh ready to eat meals in the college campuses. This acquisitions has boosted up the company’s market value through technology-based solutions and services

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