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North America Facility Management Services Market: Demand Analysis & Opportunity Outlook 2023

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Extensive insights into the Growth of North America Facility Management Services Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months.                                                         Request Insights

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North America Facility Management Services Market Overview

The facility management services are adopted by various organizations such as information technology, real estate, energy, furniture and transportation among many others to maintain and improve the facilities and services of that organization. It is the core responsibility of the facility management services to control all the processes of the companies that have implemented these services in order to enhance the overall productivity combined with improving the quality of the life of employees of that company. The facility management services find its application in various end-user industries such as residential, retail, commercial, educational, healthcare, government and others. Security and maintenance is expected to boost the growth of the retail and commercial segment significantly in North America’s facility management services market by 2023.

Market Size and Forecast

Globally, North America grabbed the largest share in facility management market during 2016. The rising infrastructural facilities coupled with better economic growth fuelled the facility management market in the region. Last year, the U.S. contributed the largest share in the revenue generated in the North America region and is projected to maintain its dominance in near future. The U.S is projected to be a mature facility services management market in future owing to the presence of many organized and un-organized players in the region. On the other hand, Canada is expected to be a smaller market when compared to U.S., however the growth rate is believed to be higher in Canada than its counterpart. According to the World Bank, the GDP growth of the United States was 17,305 Billion constant 2010 USD, while Canada’s GDP growth in constant 2010 USD was 1,884 Billion in 2017.CLICK TO DOWNLOAD FREE SAMPLE REPORT

north America Facility Management services

According to a recent study conducted by Research Nester, the North America market of facility management services is expected to grow at a compound annual growth rate of around 13% during the forecast period 2018-2023. Requirement of maintenance of the administrative assets in North America is anticipated to generate about USD 451 Billion in terms of revenue by the end of 2023.Based on the services type, the North America facility management services market is segmented into soft services and hard services. The hard services segment is expected to dominate the overall North America facility management services market during the forecast period. 

Market Segmentation:

Our in-depth analysis of the North America facility management services market includes the following segments:

By Services

  • Soft Services
  • Hard Services

By End-user

  • Residential
  • Retail
  • Commercial
  • Educational
  • Healthcare
  • Government
  • Others

The study further analysis the Y-O-Y Growth, demand & supply and forecast future opportunity in North America (United States, Canada), Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX (Belgium, Netherlands, Luxembourg), NORDIC (Norway, Denmark, Sweden, Finland), Poland, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa).

Growth Drivers and Challenges:

North America facility management services market is one of the growing markets across the globe. Rise in infrastructure & economic development in the region are projected to fuel the expansion of the market over the forecast period. Rising concern in the evaluation of business investments & utilization of resources through optimistic approach is expected to contribute significantly in the overall growth of facility services management market in North America during the forecast period 2018-2023.However, the convenience towards developing technology is estimated to be the concerning factor behind the growth of the North America facility management services market in the near future.

Key Players

  • Archibus
  • Company Overview
  • Key Product Offerings
  • Business Strategy
  • SWOT Analysis
  • Financials
  • Johnson Controls Inc.
  • Compass Group
  • Turner facilities Management Ltd.
  • ISS
  • Fluor Corporation
  • Macro
  • Aramark Corporation
  • Carillion PLC
  • CB Richard Ellis (CBRE)
  • ABM Industries Incorporated

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