|Growth Opportunities in the Global Facility Management Market, Forecast to 2025|
|Preparing Facility Management Participants for Success After a Pandemic|
The global Facility Management (FM) market is going through a major transformation driven by technology innovation, new business models, emerging value propositions, competitive disruption, and creative new service offerings. In many parts of the world, FM services are commoditising and there is a need for innovation and new value propositions if suppliers are to avoid the cost trap.
The future of FM is technology enabled and Coronavirus 2019 (COVID-19) will accelerate the use of digital technology. The Internet of Things (IoT), Big Data, and advanced connectivity will drive efficiency for both service suppliers and clients. Meanwhile, the global FM market will see a significant drop in revenues in 2020 as a result of the impact of COVID-19. The market will return to growth in 2021 but will not retrace back to the 2019 levels until early 2022.
To recover and grow in the wake of the COVID-19 pandemic, companies will need to segment growth opportunities into the Respond (short-term), Reset (mid-term) and Rebound (long-term) phases. This visionary study identifies the 15 most significant opportunities for growth across the short-, mid- and long-term future as the market recovers and redefines itself after the pandemic.