Europe Facility Management Solution Market

Market Introduction

Facility management is described by the International Facility Management Association (IFMA) as the process of integrating a physical workplace with an organization's people and work, which includes tasks such as equipment maintenance, space planning, and portfolio forecasting. Emergency preparedness & business continuity, environmental sustainability, human aspects, communication, project management, quality, real estate & property management, leadership & strategy, and others are all part of facility management.

Market Overview and Dynamics

The Europe facility management solution market is expected to reach US$ 371.74 million by 2028 from US$ 196.02 million in 2021; it is estimated to grow at a CAGR of 9.6% from 2021 to 2028.

Facilities management solutions help manage and maintain a wide range of processes that ensure the productivity, safety, and efficiency of a built environment and its occupants. Various processes such as asset management and tracking; equipment and building maintenance; project management; security, health, and safety management; and catering and hospitality are involved while managing any facility, such as residential and commercial buildings. To manage these processes, the facility management solution offers strategic planning and project management, workplace and relocation management, sustainability management, and maintenance management. Thus, the adoption of multiple facility management solutions helps increase the productivity and efficiency of an enterprise. For instance, in September 2021, Kontakt.io integrated IBM TRIRIGA (Workplace Management Systems) to transform real estate management with actual-time, AI-driven space occupancy. TRIRIGA consists of TRIRIGA Building Insights and combines occupancy data from sources, such as WIFI and IoT sensors, with newly embedded artificial intelligence. TRIRIGA provides insights to customers operating in large real estate portfolios, which help them make smarter data-driven decisions. The integration of Kontakt.io with IBM TRIRIGA is expected to deliver AI-powered utilization insights across portfolios, actual-time occupancy monitoring, and space management tools supporting existing IoT infrastructure used in many offices. Such initiatives help in increasing the productivity and efficiency of real estate businesses. Therefore, such factors drive the demand for facility management solutions across Europe.

Russia, France, Italy, Germany, Spain, and the UK are among the worst-hit countries in Europe, considering the count of COVID-19 positive cases. During the COVID-19 outbreak, the facility management solution plays an important role in dealing with the outbreak by helping to create a safe work environment in Europe. For many facilities managers, building sanitization means exploring new products and practices that address COVID-19 specific concerns. Due to the impact of the pandemic, facility managers face the tedious task of re-educating employees and visitors about how to maintain social distancing and follow COVID-19-related safety norms. To survive the pandemic, companies need to focus on customer care and concerns by staying connected to them as per their channel choice, building agile capabilities for fluid times, and adapting to situation-based circumstances. Organizations also need to rethink their business and operating models. Consumers’ search for value for money is a fundamental change in purchase priorities and will be prevalent in the coming years. For this, facility management solution is beneficial for organizations. Therefore, the Europe facility management solution market witnesses a positive impact of the pandemic.

Key Market Segments

Based on component, the Europe facility management solution market can be bifurcated into software and services. The software segment led the facility management solution with a larger market share of in 2020 and the same segment is estimated to register the higher CAGR in the market during the forecast period.

Based on deployment, the Europe facility management solution is categorized into on-premise, and cloud-based. The cloud-based segment led the facility management solution with a larger market share in 2020. Further, the same segment is expected to witness fastest CAGR during 2021 to 2028.

Based on enterprise size, the Europe facility management solution can be categorized into small and medium enterprises, and large enterprises. The large enterprises segment is likely to hold the larger share of the market. Moreover, the same segment is also expected to witness growth in its demand at a fastest CAGR during 2021 to 2028.

Based on application, the Europe facility management solution market is segmented into government, retail, pharmaceuticals, BFSI, transportation and logistics, IT and telecom, manufacturing, and others. The IT and telecom segment held the largest share of the market and is expected to grow at the highest CAGR during the forecast period.

Major Sources and Companies Listed

A few of the market players associated with the report on the Europe facility management solution market are the FM:Systems, Infraspeak, and IBM Corporation.

Reasons to buy the report

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• Strengthen your knowledge of the market in terms of demand drivers, industry trends, and the latest technological developments, among others.
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EUROPE FACILITY MANAGEMENT SOLUTION MARKET SEGMENTATION

By Component

• Software
• Services

By Deployment

• On Premise
• Cloud-based

By Enterprise Size

• Small and Medium Enterprises
• Large Enterprises

By Application

• BFSI
• Retail
• Transport and Logistics
• Pharmaceuticals
• Government
• IT and Telecom
• Manufacturing
• Others

By Country

• Germany
• UK
• France
• Italy
• Russia
• Rest of Europe

Company Profiles

• FM:Systems
• IBM Corporation
• Infraspeak
• ServiceChannel
• Upkeep Maintenance Management

Europe Facility Management Solution Market Strategic Insights

Europe Facility Management Solution Market Segmentation Analysis

Europe Facility Management Solution Market Report Highlights

Europe Facility Management Solution Report Scope

Europe Facility Management Solution Market Country and Regional Insights