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North America Facility Management Services Market is expected to flourish at a CAGR of 3.1% over the forecast period

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he 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.

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

North America facility management services market is segmented into service such as soft services and hard services. Among these segments, soft facility management services segment is expected to occupy the top position in the market. The demand for soft services facility management is increasing on the back of rising demand from the corporate sector. Further, the expansion of corporate sector in the region is expected to increase the demand for the soft services. Soft facility management services market is further segmented into maintenance, security and housekeeping.

North America Facility Management Services Market is expected to flourish at a CAGR of 3.1% over the forecast period. Moreover, North America facility management services market is projected to garner USD 558 Billion by the end of 2021.  Increasing adoption of infrastructure facilities and services is expected to positively impact the growth of the facility management services market. Further, increasing adoption of sustainable building practices is expected to expand the market of facility management services in the years ahead.

U.S. is believed to account for the largest market share in overall facility management services market during the forecast period. Further, U.S. is poised to continue its dominance over the forecast period. Further, rebounding of the construction market in the nation is likely to augur well for facility management services market in the region. Further, increasing adoption of cleaning services for commercial and industrial buildings is anticipated to fuel the growth of the U.S. facility management services market during the forecast period. Canada facility management services market is anticipated to showcase significant growth rate over the forecast period.

Increasing Investment on Infrastructure Development

The facility management market is growing in North America owing to the increasing growth of budget for various infrastructure development and management. Further, the presence of various facility management service providers in the region is expected to positively impact the growth of the market during the forecast period.

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Growing Reliance on Advanced Facility Management Services

Rising demand for advanced facility management services such as computer aided facility management services are anticipated to foster the growth of the facility management services market in the region. Moreover, increasing number of commercial establishments in the region is believed to impel the growth of the facility management services market during the forecast period. Although, presence of high unorganized segment is likely to negatively impact the growth of the facility management services market in the near future.

The report titled “Facility Management Services Market: North America Demand Analysis & Opportunity Outlook 2023” delivers detailed overview of North America facility management services market in terms of market segmentation by services, by solutions, by end user and by region. Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.

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This report also provides the existing competitive scenario of some of the key players of North America facility management services market which includes company profiling of Archibus, Johnson Controls Inc., Turner facilities Management Ltd., Flour Corporation, Aramark Corporation, Carillion PLC, ABM Industries Incorporated and Jones Lang LaSalle, IP, Inc., Cushman & Wakefield and  BGIS North America. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of North America facility management services market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.

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Source URL: https://marketersmedia.com/north-america-facility-management-services-market-is-expected-to-flourish-at-a-cagr-of-31-over-the-forecast-period/411508

Source: MarketersMedia

Release ID: 411508

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