Facility Management (FM) is a bundle of services offered to an organization to manage different operations of their buildings or facilities. These services include the management of physical aspects like HVAC (Heating, Ventilation, & Air Conditioning), plumbing & wastewater, catering, lighting & electrical, as well as soft services like housekeeping, security, cleanliness, etc. With the growing awareness about the benefits of these outsourcing FM services, several organizations, especially in the United States, are increasingly adopting them to enhance their overall productivity and yield better revenues.
The USA Facility Management Market is projected to grow at a CAGR of around 5.5% during the forecast period, i.e., 2023-28. The growth of the market is projected to be driven primarily by massive investments by the US government in expansions of industries like construction, transportation, corporate, & hospitality, among others. Consequently, the demand for facility management services is on an unprecedented rise to improve the overall operational efficiency & productivity of businesses with increased cost-effectiveness.
|Study Period||Historical Data: 2018-21|
|Base Year: 2022|
|Forecast Period: 2023-28|
|Region Covered||South, West, Midwest, Northeast, Others|
|Key Companies Profiled||Compass Group, Sodexo, EMCOR, Cushman & Wakefield, Trane, CBRE, Jones Lang LaSalle Incorporated (JLL), G4S PLC, ISS, Ecolab|
|Unit Denominations||USD Million/Billion|
Besides, with the swift expansion of the corporate sector and the increasing establishment of multinational companies & start-ups in the country, the US government is actively working on constructing more & more office buildings, i.e., another prominent aspect augmenting the demand for facility management services.
With significant advancements in several fields, new & innovative technologies are being integrated into different FM services, and one of them is the BIM (Business Information Modeling), i.e., a 3D tool that provides a digital picture of a facility & its assets. BIM is gaining ground in the facility management industry and helping facility managers easily attain all the information about a building.
In the US, more & more FM service providers are embracing this technology to achieve improved space management, effective maintenance, efficient energy usage, and enhanced lifecycle management. Moreover, educational institutions are also adopting BIM to achieve improved operational efficiency, better decision-making, and effective cost management. Hence, these aspects project a pool of profitable opportunities for the USA Facility Management Market through 2028.