The Global Integrated Facility Management (IFM) Market was valued at $94.18 billion in 2022 at a CAGR of 7.20% from 2023 to 2030.
Market Overview
Integrated facilities management is when all the work of managing facilities is done by a single, integrated team. This includes things like contracts, supplier partnerships, space management, and estate planning. IFM is not a radical idea, but it can feel like it is. Think about the shift to the way facilities management is done today. Data is no longer kept in silos; instead, it is organized and gathered across the entire spectrum. The same is true for facility management. Keeping management tasks, duties, and resources separate is not the answer. IFM combines them.
A cloud-based solution is a reliable way to host facility management software. It also improves security and collaboration between teams and subsidiaries in different places. This helps organizations lower their operating costs. A cloud-based facility management solution also offers secure hosting of important data, better security and scalability, and fast disaster recovery. Backups are kept on shared or private cloud-hosted platforms so that organizations can easily get back critical server data. With secure login, it’s easy to get to your data from anywhere with a stable internet connection.
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Segment Analysis
The market is divided into Small and Medium-Sized Enterprises (SME) and Large Enterprises (LE). Small and medium-sized businesses (SMEs) have a lot to gain from facility management solutions because these solutions reduce the costs of manually managing the infrastructure of the facility. The market is divided into Banking, Financial Services, and Insurance (BFSI), IT and Telecom, Government and public administration, Healthcare, Education, Retail, Energy and Manufacturing, Utilities, Construction and real estate, and Others. Businesses in the BFSI vertical have to take care of and manage a number of real estate investments. Facility management solutions like IWMS and CMMS help facility management teams do things like manage assets, keep track of maintenance, manage space, and keep track of work orders in a strategic way.
Based on types, the Integrated Facility Management Ifm is segmented into:
- Hard Service
- Soft Service
- Other
By Organization Size:
Small and Medium-sized Enterprises
Large Enterprises
Other
Based on application, the Integrated Facility Management Ifm is segmented into:
- Commercial
- Industrial
- Other
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Recent Development
- In May 2018, Certus Solutions, which is a leading IBM business partner in Australia and New Zealand, announced that it was partnering with TRIXi, which is the leader in Australia when it comes to software for managing workplace experiences and facilities.
- • In April 2018, Trimble announced that it had reached a final agreement with Bain Capital to buy the privately held company Viewpoint for $1.2 billion in cash. Viewpoint works well with Trimble’s e-Builder business and will help Trimble offer more complete and integrated projects, job sites, and business workflows throughout the construction lifecycle. Accruent, the leading provider of solutions to manage the built environment, announced today that it will make improvements to its cloud-based manufacturing solutions in May
- 2020. These changes will make it easier for technicians and engineers who work in manufacturing plants and other facilities with a lot of assets to get access to important asset information.
Regional Analysis
The US will become the largest market for IFMs in North America because there are so many service providers there, such as IBM, Oracle Corporation, CBRE, Sodexo, and Compass Group. This is because there is a growing need for flexible, advanced, and integrated facilities management solutions in many industries.
Also, the US is a market with a high level of maturity, and there are currently two generations of contracts signed. The demand for cloud-based integrated facility management platforms is growing in this region, which is one of the main things driving the market’s growth.
Also, the growing use of smart technologies and artificial intelligence is expected to give the market for integrated facility management solutions a big chance to grow.
The UK market is expected to reach about $72.5 billion by 2031. In the past few years, a lot has changed in the UK’s media landscape. IFM solutions have a lot of room to grow thanks to improvements in technology.
Regional Integrated Facility Management Ifm coverage (Regional Status, Demand Forecast, Country Trends, etc.):
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- North America, Europe, China, Japan, Southeast Asia, India.
- North America (USA, Canada, and Mexico).
- Europe (Germany, France, UK, Russia and, Italy).
- Asia-Pacific (China, Japan, Korea, India and, Southeast Asia).
Key segments covered in Integrated Facility Management Ifm include:
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- Integrated Facility Management Ifm Growth Drivers and Barriers.
- Market Trends, Market Opportunities, Porter’s Five Forces Analysis.
- Market Overview, Industry Development, Market Maturity, Value Chain Analysis.
- Regional and Country Level Analysis.
- Trends and Forecasts for Market Segments.
- Market Analysis and Various Recommendations.
- Key market forces.
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Key Market Participants in the Integrated Facility Management Ifm :
IBM, Oracle, SAP, Trimble, Accruent, MRI Software, Planon, Service Channel, Service Works Global,
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