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Global Facilities Management Market 2019-2023 | Advent of IoT Promotes Growth | Technavio

November 23, 2018

LONDON--(BUSINESS WIRE)--Nov 23, 2018--Technavio ’s global facilities management market research report forecasts the market to grow at a CAGR of over 12% during the forecast period.

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Technavio has released a new market research report on the global facilities management market for the period 2019-2023. (Graphic: Business Wire)

The advent of IoT in facilities management will be one of the major trends in the during 2019-2023. The demand for smart facility management solutions has increased due to the various technological innovations in the global facilities management market. This has resulted in the increased adoption of IoT and Industry 4.0 in the market. The IoT employs technologies such as predictive maintenance, which results in lower operational cost and increased productivity.

This report is available at a USD 1,000 discount for a limited time only:

According to Technavio’s analysts, one of the key drivers for the global facilities management market is the increasing demand for cloud-based facility management solutions:

Global facilities management market: Increasing demand for cloud-based facility management solutions

There is a rise in the number of cloud computing solutions owing to the growing demand for technologically advanced solutions in the global facilities management market. The cloud-based solutions are used to integrate facility management services as they offer reliable means to host facility management software. These solutions allow companies to increase security and reduce the operating costs incurred by the organization.

According to a senior analyst at Technavio for research on automation, “The cloud-based facility management solutions allow securing hosting of critical data along with advantages such as improved security and scalability and quicker disaster recovery. Cloud computing provides a cost-effective solution, which allows the companies to recover critical server data from backups stored on a shared or private cloud host platform.”

Global facilities management market: Segmentation analysis

This global facilities management market analysis report provides market segmentation by end-user (commercial segment, government segment, and residential segment) and by region (the Americas, APAC, and EMEA). This report provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.

Of the three major end-users, the commercial segment held the largest facilities management market share in 2018, accounting for over 59% of the market. This end-user segment will dominate the global market throughout the forecast period.

The Americas held the largest share of the market in 2018, accounting for more than 36% share. It was followed by EMEA and APAC respectively. The EMEA region is expected to surpass the Americas to become the largest shareholder of the market by 2023.

Looking for more information on this market?

Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.

Some of the key topics covered in the report include:

Market Landscape

Market ecosystem Market characteristics Market segmentation analysis

Market Sizing

Market definition Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

Regional comparison Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

Vendors covered Vendor classification Market positioning of vendors Competitive scenario

About Technavio

is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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View source version on businesswire.com:https://www.businesswire.com/news/home/20181123005199/en/

CONTACT: Technavio Research

Jesse Maida

Media & Marketing Executive

US: +1 844 364 1100

UK: +44 203 893 3200

www.technavio.com

KEYWORD:

INDUSTRY KEYWORD: CONSTRUCTION & PROPERTY COMMERCIAL BUILDING & REAL ESTATE

SOURCE: Technavio Research

Copyright Business Wire 2018.

PUB: 11/23/2018 11:31 AM/DISC: 11/23/2018 11:31 AM

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