North America Facilities Management Market: Snapshot
The increasing emphasis of industries on process optimization and improved energy efficiency of services in business activities is the primary contributor to the growth of the North America facilities management market. In addition, an increasing focus on the development of sustainable solutions in business activities has had a high impact on the adoption of facilities management in North America. The rising adoption of automated equipment in the manufacturing and healthcare sectors has also resulted in the strong demand for technical services such as maintenance and repair, which in turn, benefits the facilities management market.
The North America facilities management market was valued at 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.
Soft Services to Exhibit Higher Demand
Based on type of service, the demand for soft services is highest in the North America facilities management market. The hard service segment, on the other hand, is anticipated to exhibit a comparatively lower growth rate over the forecast period.
Within the hard services segment, the mechanical and electrical maintenance sub-segment is expected to exhibit a comparatively higher surge in facilities management outsourcing, resulting in healthier market growth during the forecast period. The sub-segment is projected to expand at a CAGR of 13.7% from 2016 to 2024. Within the soft services segment, the cleaning and pest control sub-segment is expected to hold a significant share in the market revenue throughout the forecast period, expanding at a CAGR of 13.0%.
Based on 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. This is primarily due to an increase in the outsourcing of non-core services such as cleaning, security, repair, and maintenance.
Rising Demand for High-quality Services across Industries Drives U.S. Market
The U.S. accounted for more than 50% of the total North America facilities management market in 2015. The rising demand for cost reduction and performance improvement and the need for enhanced service quality in business activities have led to the growth of the facilities management market in the country. Industries in the U.S. are emphasizing on outsourcing support services to gain third-party expertise in processes and to enhance their core business activities. The increasing demand for high-quality services throughout the service application is contributing to the growing market for facilities management in the U.S.
Canada holds close to one-third of the North America facilities management market in 2015 and is anticipated to witness increased growth during the forecast period. This is primarily attributed to the increasing adoption of facilities management services across multiple industries. The Mexico facilities management market is expected to grow at a CAGR of 13.8% during the forecast period. The rapidly growing manufacturing industries and processes across the country are likely to result in the rising demand for technical services such as plumbing, heating, ventilation, and air conditioning (HVAC) maintenance, and fire protection.
The key players operating in the North America facilities management market include 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.
North America Facilities Management Market: Scope and Methodology
The facilities management market report provides an in-depth analysis of the North America facilities management market for the period, 2014 – 2024; wherein 2015 is the base year and the years from 2016 to 2024 is the forecast period. Data for 2014 has been included as historical information. The report covers all the prevalent trends playing a major role in the growth of the North America facilities management market over the forecast period. It also highlights various drivers, restraints, and opportunities expected to influence the market’s growth during the forecast period. The study provides a holistic perspective on market growth in terms of revenue estimates (in US$ Bn), across the North America region. The report provides cross-sectional analysis of the North America facilities management market in terms of market estimates and projections for all the segments. The report also covers profiles of major players, their growth strategies, their market positioning, and the various recent developments, and includes market positioning analysis of key players operating in the facilities management market.
North America Facilities Management Market: Segmentation
Based on the services, the market is segmented into the hard services and soft services. The hard services segment is categorized into ‘plumbing, air conditioning maintenance’, fire protection systems, ‘mechanical & electrical maintenance’ and others. Based on soft services, market estimates for following soft services is included within the scope - cleaning and pest control, sterilization, laundry, catering, waste management, security and others. The demand for facilities management services has been further analyzed based on industrial sectors, segmented as - corporate, government & public, health care, manufacturing, residential & educational, retail & commercial and others. With their growing importance, facilities management services are widely adopted by these industries to enhance the quality of core business processes and increase their value The report includes a comprehensive coverage of the underlying economic development factors under the key trend analysis section.
The report aims to provide a comprehensive analysis of the facilities management market across the U.S., Canada and Mexico country and includes segment level key trend, key finding analysis, market indicators and market attractiveness by services, industry and country. The report also highlights the competition matrix of the facilities management market, positioning all the major players according to their market position, market share, competitors and segment growth. Porters five forces analysis for the North America facilities management market is also included so as to provide a holistic picture of competitive environment in the country. The report also provides service, industry comparison matrix of the North America facilities management market.
North America Facilities Management Market: Competitive Landscape
Under the company profiles section, the report provides an overview of the players operating in the market, the strategies deployed by them to gain competitive advantage, the annual revenue generated by them in the past two or three years, strategy and their relevant business segment revenue. Market share analysis of the North America facilities management market is also include within the scope of the study. The key players profiled in this report include 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.
The North America Facilities Management Market has been segmented as follows:
North America Facilities Management Market, by Services
- Hard Services
- Plumbing, Air Conditioning Maintenance
- Fire Protection Systems
- Mechanical and Electrical Maintenance
- Others (Fabric Maintenance, etc.)
- Soft Services
- Cleaning and Pest Control
- Waste Management
- Others (Administrative Services, etc.)
- Cleaning and Pest Control
North America Facilities Management Market, by Industry
- Government and Public
- Residential and Educational
- Retail and Commercial
North America Facilities Management Market, by Country
- The U.S.