The Future of Facility Management: Trends and Insights


𝐆𝐫𝐚𝐛 𝐏𝐃𝐅 𝐓𝐨 𝐊𝐧𝐨𝐰 𝐌𝐨𝐫𝐞➜https://www.businessmarketinsights.com/sample/TIPRE00026776?utm_source=Blogger&utm_medium=10694


Governments across the world invest in infrastructure growth. For instance, as per the Department for Promotion of Industry and Internal Trade, FDIs in the construction development sector (townships, housing, built-up infrastructure, and construction development projects) and construction activities stood at US$ 26.14 billion and US$ 25.38 billion, respectively, between April 2000 and June 2021. In FY2021, infrastructure activities accounted for a 13% share of the total FDI inflows of US$ 81.72 billion. Also, there are several investments observed in the construction of railways, ports, and airports. Significant growth in the real estate sector due to rising focus on a safe, clean, and secure environment is one of the primary factors bolstering the growth of the facility management solution market. Additionally, the growing concept of a green building along with the enactment of the Real Estate (Regulation and Development) Act 2016, which protects home buyers and helps boost the real estate sector, stimulates the market growth. In addition, the booming information technology industry and the growing popularity of e-commerce platforms propel the need for infrastructure and organized spaces, which also fuels the market growth. Apart from this, several companies are using AI (artificial intelligence) and IoT (internet of things) technologies to automate facility management services for energy efficiency audits. Furthermore, the post-pandemic rising emphasis on hybrid workspaces and return-to-the-workplace strategies augment the demand for facility management services to maintain safety and productivity in companies across the region. Therefore, the growing infrastructure sector across North America propels the demand for facility management solutions.


The North America facility management solution market is expected to reach US$ 624.29 million by 2028 from US$ 349.0 million in 2021; it is estimated to grow at a CAGR of 8.7% from 2021 to 2028. Factors such as growing infrastructure sector across North America and better management, productivity, and efficiency with multiple facility management solutions compared to conventional solutions propel the growth of the market. However, the lack of awareness and standardization about facility management solutions hamper the market growth.


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